Without CESEE Business Alpine Would Still Exist

Politics ♦ Published: October 25, 2013; 21:09 ♦ (Vindobona)

According to reports by auditor BDO and liquidator Stephan Riel, business in Austria remained profitable for insolvent construction company. If Alpine had never expanded business to CESEE it would still exist.

Without CESEE Business Alpine Would Still Exist / Picture: © Alpine Logo Press Photo

“The strong, riskful and non-profitable expansion is considered one of the main reasons for the financial collapse is,” according to the report by BDO. “On the earnings side it became evident that domestic business was able to generate consistently positive results while the foreign domain had been consistently negative since 2007,” the auditor adds. Only in spring, after rumors…