Alpine Confirms „Substantial Losses“

IndustrialsConstruction ♦ Published: October 15, 2012; 18:21 ♦ (Vindobona)

The Austrian construction company is in severe difficulties. The management demonstrates optimism.

Alpine Confirms „Substantial Losses“ / Picture: © Alpine Logo Press Photo

Today, Alpine issued an ad-hoc announcement and confirmed that high losses will be registered this year. In total, Alpine´s write-downs may reach up to € 400m, the business advisor KPMG said. In 2013, a negative EBT of € 263m is expected. Above all, this is due to write-downs of projects in Southeastern Europe. In spring, Alpine announced to withdraw from foreign markets gradually…