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Vienna International Business News | Economic | Investment | Financial

Strabag counting on continued positive development in 2018 thanks to record order backlog

Strabag today announced its first figures for the 2017 financial year and issued an outlook for 2018. "We closed the year with a record output volume and are going into the new one with a record order backlog. The signs are pointing to unchanged strong demand in nearly all of our core markets," says CEO Thomas Birtel.

February 15, 2018

Telekom Austria AG / Results for the Full Year 2017

Telekom Austria Group announces its results for fourth quarter and full year 2017, ending 31 December 2017. Group total revenues rose by 3.0% on a proforma basis (reported: +4.1%), EBITDA increased by 2.0% (rep.: +3.2%). Revenue increase driven by growth in fixed-line service revenues and equipment revenues, while mobile service revenues were lower due to roaming; the revenue increase was driven by all markets except for the Republic of Macedonia.

February 13, 2018

Rosenbauer: Preliminary Figures 2017

Rosenbauer is reporting EBIT of EUR 25.6 million for the 2017 financial year (2016: EUR 47.0 million). In particular, the decline in the Group's earnings is due to the decreased delivery volume in 2017 as a result of the low price of oil and ongoing political conflicts. This led to weak capacity utilization in some production areas.

February 13, 2018

Record Year 2017: Flughafen Wien Group Handles 30.9 Million Passengers (+6.9%), Surpassing Threshold of 30 Million for the First Time

In spite of developments at Air Berlin and NIKI, 2017 will go down in airport history as a record year. The Flughafen Wien Group reported a passenger volume of over 30 million for the very first time in its history, and Vienna Airport site also exceeded the threshold of 24 million passengers for the first time.

January 16, 2018

Schoeller Bleckmann Oilfield Preliminary Result for 2017

The 2017 financial year of Schoeller-Bleckmann Oilfield Equipment AG (SBO), listed on the ATX market of the Vienna Stock Exchange, was characterised by the upswing seen in North America. The strategic expansion of the Well Completion business the year before therefore turned out to be the perfect choice to make. Against the continued weak market environment internationally, SBO closed financial year 2017 on a clearly positive operating result.

January 16, 2018

FACC Continues to Climb in the Third Quarter 2017/18

Revenues for the first nine months of 2017/18 amount to EUR 564.0 million (comparative period 2016/17: EUR 518.6 million). The increase of 8.8% is attributable to a further significant increase in product sales of 11.4% to EUR 527.8 million.

January 16, 2018

Agrana’s first three quarters significantly ahead of one year earlier

In the first three quarters of the 2017|18 financial year, Agrana Beteiligungs-AG achieved slight year-on-year growth of 2.2% in Group revenue to EUR 2,010.6 million (Q1-Q3 prior year: EUR 1,967.5 million).

January 11, 2018

Telekom Austria AG / A1 Telekom Austria Group announces redemption of Hybrid bond 2013

The A1 Telekom Austria Group (VSE: TKA, OTC US: TKAGY) announces that the Management Board of Telekom Austria AG adopted a resolution today to call and redeem the EUR 600 mn hybrid bond issued by Telekom Austria AG in 2013 (ISIN XS0877720986) (the 'Hybrid Bonds').

January 5, 2018

C-Quadrat: Unexpected Good Performance in December

Due to the positive performance of several investment funds managed by asset management companies of the C-Quadrat Group, which reached new price highs, in December 2017 the C-Quadrat Group realized additional revenue from performance-related remuneration.

January 5, 2018

Moody's Lifts Outlook for Austrian Banks

Moody's lifts outlook for Austrian banks on positive, because the economic recovery in Austria makes it possible to improve the outlook for domestic banks.

August 24, 2017

Salzburger Festspiele Generates EUR 215 Million Added Value per Year

The president of the Salzburg Festival (Salzburger Festspiele), Helga Rabl-Stadler, presented a new study proving the financial significance of the event. According to the study the festival generates added value of EUR 215 million per year in the whole country.

August 22, 2016

Social Progress Index: Austria Ranked 13th

Austria has been ranked 13th by NGO Social Progress Imperative, in its Social Progress Index ranking. It precedes Japan and Germany and scored many points thanks to renewable energy projects. However, the state reveals shortages with respect to education, tolerance and equal opportunities. Nordic states, such as Finland, Canada and Denmark lead the index.

July 25, 2016

Indian Ministry of Railways Discusses India-Austria Railway Cooperations

The Indian Minister of Railways, Shri Suresh Prabhu paid a visit to Austria. In an event organized by the Chamber of Commerce H.E. Mr. Prabhu met with CEOs and Austrian Railway Companies to discuss possible further India-Austria cooperations in the field of railways technology.

July 21, 2016

New "Open Austria Initiative" Supposed to Open Doors to Silicon Valley

Foreign Ministry and Austrian Economic Chamber open joint office in California to support Austrian companies and pave their way for success in Silicon Valley.

July 14, 2016

Erste Group Expects Q2 Net Profit of about EUR 560 Million

Erste Group expects to post net profit of approx. EUR 560 million in Q2 16, raises guidance for 2016 to ROTE >12% (up from 10-11%).

July 14, 2016

Best Gaming Technology Acquired by Rival Playtech

Vienna-based maker of software for self-service betting terminals Best Gaming Technology (BGT) has been acquired by UK gambling software group Playtech for €138m. Playtech holds the option to purchase the remaining shares for up to €55m from Armin Sageder, the company’s founder and chief executive.

July 14, 2016

OSCE: "Reliable, Affordable and Sustainable Energy Supplies are Prerequisite for Stability and Security"

Energy experts from the OSCE Mediterranean Partners for Co-operation, representing both government institutions and private sector companies, will begin a week-long field study of sustainable energy in Austria and Germany.

July 12, 2016

Western Balkans Countries Discussed Investment, Jobs and Integration in Vienna

The World Bank and the Vienna Institute for International Economic Studies (wiiw) held a high-level policy dialogue on ‘Investment, Jobs and Integration’ last week. Ministers and senior officials from the Western Balkans region as well as policy experts from international organisations and the business community gathered to discuss the challenges the region is currently facing, in particular the high unemployment rate, low international competitiveness, and lack of modern infrastructure.

July 8, 2016

Austrian Post's Turkish Subsidiary in Conflict with Majority Owner

Post AG is involved in a buyback conflict regarding the Turkish subsidiary. Post took over a 25-percent stake in Turkish parcel delivery service Aras Kargo in 2013; it had been granted an option to buy another 50 percent of the shares. The company has been negotiating to use the option for a year now, but has been unable to reach a compromise.

July 5, 2016

Brexit and Its Consequences for Austria

Like any other economy within the euro area, Austria will also be confronted with challenges following the Brexit vote, according to the latest analysis by RBI Research analysts. However, the economic momentum should not experience any noticeable weakening, even though one should expect considerable declines in exports to the United Kingdom.

July 1, 2016

Presidential Poll Result Overturned by Austrian Constitutional Court

Austria's highest court has annulled the result of the presidential election narrowly lost by the candidate of the far-right Freedom Party Norbert Hofer.

July 1, 2016

CESEE Outlook: Modest Recovery - EU is Obstacle to Growth – BREXIT Poses Uncertainties

According to the latest prognosis of the Vienna Institute for International Economic Studies, the countries of Central, East and Southeast Europe (CESEE) will have a trend growth rate of up to 3% in the period of 2016-2018. This is 1-1½ percentage points higher than average growth in the eurozone. Consumption will be the main growth driver. The Austrian economy is still benefiting from its economic ties with the region. Direct effects of BREXIT on the region will be limited – indirect effects for the European economy as a whole may be considerable.

June 29, 2016

Agenda Austria Recommends Campaign Against Öxit

Think tank Agenda Austria recommends the government in Austria to devise a large campaign against an Austrian exit ("Öxit”), highlighting the benefits of EU membership, since the experts anticipate an increase in discussions concerning this issue.

June 27, 2016

Moody’s Downgrades Long-Term Credit Rating of Austria

Moody’s has downgraded the long-term credit rating of Austria, from "Aaa” to Aa1. In January 2012 rating agency Standard & Poors had reduced Austria’s rating from AAA to AA+, whereas in February 2015, Fitch did the same.

June 27, 2016

Closing of Visa Takeover Brings EUR 97 Million Pre-Tax Profit to RBI

The expected pretax profit from the cash payment of the transaction will be EUR 97 million. It should be booked under net income from financial investments in the second quarter of 2016. Visa Inc. had announced the takeover of Visa Europe Ltd. in November of 2015. The cash payment of this one-off effect will be split between Slovakia, Romania, Czech Republic, Poland, the RBI head office, Croatia, Bulgaria, Hungary and Zuno.

June 21, 2016

Austrian Business Meets Foreign Diplomacy

In the context of the ‘Business meets Diplomacy’ series of events, representatives of the Austrian economy meet members of the foreign diplomatic corps for an exchange of views on Austrian business and the economy.

June 20, 2016

What Brexit Means for Austria: Mitterlehner, Kurz, Fiat Steyr

Mitterlehner hopes that the referendum will end in Britain staying in the EU. Kurz says, that Brexit would be terrible. Fiat could relocate production of agriculture and construction machine maker CNH (Case New Holland) from UK to Steyr in case of Brexit.

June 20, 2016

Tax Payers to Finance AvW Bankruptcy after all?

Tax payers may have to finance the bankruptcy of Carinthian financial company AvW after all, Presse daily reports in its online issue. The damage is estimated at EUR 148 million (USD 168.2 million).

June 8, 2016

IMD Competitiveness Ranking: Austria Edged Up to Rank 24

According to the latest issue of the competitiveness ranking established by Swiss research facility Instituts für Management-Entwicklung (IMD), Austria edged up from rank 26 to 24 y/y in 2015.

May 31, 2016

Novomatic Takeover of Australian Rival Delayed

The planned investment of the Lower-Austrian gambling group Novomatic in the Australian rival Ainsworth Game Technology has been delayed. Ainsworth will postpone general assembly scheduled for June 3 by up to 30 days. It is at the meeting that shareholders are supposed to approve the deal.

May 25, 2016

Austria’s Business Community Welcomes Van der Bellen

Austria’s economic chamber head Christoph Leitl congratulated Alexander van der Bellen on the latter’s election victory. Leitl stressed Austria’s business sector was ready to cooperate. Also Industrialists Association (Industriellenvereinigung) head Georg Kapsch cheered on the new President, adding that the industrial sector wished the new President good luck.

May 24, 2016

Bawag Laying Off Further 180 to 200 Employees

Bawag Bank will optimize its branches and in course of the process will cut 180 to 200 jobs. 70 to 80 of the affected employees are supposed to be sent back to their actual employers - Post AG.

May 3, 2016

175 International Businesses Relocated to Vienna

According to the Vienna Business Agency, last year a total of 175 international businesses relocated to Vienna. Compared to the previous year, the result of 159 relocations was further improved. Compared to the other federal states, Vienna was able to attract almost five times more international businesses than the second-placed Carinthia, which, according to statistics of the Ministry of Economy, recorded 36 new businesses, followed by Salzburg (25), Tyrol (20), and Lower Austria (18).

April 21, 2016

Business Indicator: Modest Acceleration in Austrian Economic Activity Despite Growing Global Risks

According to Bank Austria, the Business Indicator rose in March to 0.2 points - back in black for the first time since September. Also, Bank Austria recognized a light improvement in consumer and industrial sentiment. The estimated economic growth in 2016 is 1.5 percent - no further pick-up is expected for 2017.

April 20, 2016

India-Austria Bilateral Foreign Trade Volume Increases to EUR 1.40 Billion

Last year was a very good year for India-Austria foreign trade. Experiencing a much faster growth rate than Austria’s overall trade, Austria imported items amounting to EUR 702 million from India and exported a volume amounting EUR 700 million to India.

April 20, 2016

VSE: International Investors Dominate Vienna Stock Exchange

International institutional investors are largest group of investors on the prime market of the VSE Vienna Stock Exchange. They account for some 78 percent of institutional free float of the prime market index ATX Prime stocks, according to a study.

April 12, 2016

AUA Started Flights to Shanghai, Tokyo Will Be Removed

The initial Austrian Airlines flight to Shanghai took off from Vienna yesterday. AUA will terminate the connection to Tokyo as of September 4 and will rather bet again on Chinese destinations. The economic slowdown of the Japanese economy made the Vienna-Tokyo route unprofitable. Instead AUA starts with five weekly flights to Shanghai on a Boeing 777.

April 7, 2016

Linz-Based Unit of Bilfinger Delivers EUR 10 Mln Pipe System to Egypt

Bilfinger VAM, a Linz-based unit of German construction firm, will enjoy a capacity utilisation until autumn thanks to the contract for a pipe system in Egypt, the company said. The firm shares the EUR 10 million (USD 11.3 million) deal with another Bilfinger unit.

April 7, 2016

Voestalpine Acquires Specialty Steel Firms in Shanghai and Barcelona

Voestalpine steel buys two specialty steel firms. With the purchase of Advanced Tooling Tek (ATT) in Shanghai, China, and the Sermetal Group in Barcelona, Spain, Voestalpine is enhancing its position as a producer of special steels. Both companies are specialized in the processing and sale of special steel products for tool and mold-making, a segment whose main customers are the automotive and electronics industries. Together ATT and the Sermetal Group have around 160 employees and generated a total revenue of around EUR 43 million in 2015.

April 7, 2016

International Women’s Day Debate: The Backlash Against Women’s Rights

Women throughout the world continue to face discrimination, are denied equal access to participation in public and political life and suffer sexual and gender-based violence and abuse in public places and at home. International Women’s Day is annually held on March 8 to celebrate women’s achievements throughout history and across nations. It is also known as the United Nations (UN) Day for Women’s Rights and International Peace. On March 8th the IWM library organizes a panel discussion called "The Backlash Against Women’s Rights".

March 2, 2016

Discuss with Jeffrey Sachs Migration and Global Inequalities

Professor of economics Jeffrey D. Sachs will visit Austria on March 10th to give a lecture on migration and global inequalities. The lecture will take place at Vienna's Institute for Human Sciences.

March 2, 2016

RBI Not to Sell Zuno Bank to ABH Holdings

The sale of Raiffeisen Bank International’s (RBI) direct bank Zuno to the Alfa Banking Group will not be concluded because ABH Holdings withdrew from the contract of sale.

March 1, 2016

Purchasing Managers' Index: Austrian Industry Defies Market Turbulence and Economic Worries

Bank Austria has published its latest "Purchasing Managers' Index" on the Austrian economy. In spite of the recent turbulence on the market and the growing economic concerns, Austrian industry is in good shape at present. Austrian industry has been enjoying an upwards trend for roughly a year now. The increase in Bank Austria’s Purchasing Manager’s Index to 51.9 points in February shows that following a dip before the turn of the year, growth has picked up again since the start of 2016. Despite the tense mood on the markets, Austrian industry is still providing good real economic data.

March 1, 2016

Quality of Living - Vienna is still the Number One

Vienna again tops the quality of living survey in 2016. The results of the Mercer study show, for the seventh time in a row, that Vienna's approach to quality of living is internationally acknowledged. Vienna is followed by Zurich (2), Auckland (3), and Munich (4).Vancouver (5) is North America’s highest ranking city, and Singapore is the highest ranking Asian city, holding 26th place. London ranks 39th.

February 26, 2016

Erste Group Posts Net Profit of EUR 968.2 Million in 2015

“A net profit of nearly 1 billion euro, a strong capital base and substantially lower risk costs for 2015 show that we have done our homework,” said Andreas Treichl, CEO of Erste Group Bank AG, about the full-year 2015 preliminary results.

February 26, 2016

Starwood Sells Hotel Imperial Vienna for EUR 71 Million

Starwood Hotels & Resorts Worldwide, Inc. announced that it has closed on the sale of Hotel Imperial Vienna, a Luxury Collection Hotel, to Al Habtoor Investment - the investment arm of UAE conglomerate Al Habtoor Group for 71 million euros. As part of the transaction, all rooms and suites of the iconic hotel will be renovated over the next four years. Hotel Imperial will continue to operate as part of The Luxury Collection brand under a new long-term management agreement.

February 26, 2016

Austria Strengthens Synergies between Diplomatic and Business Community

Diplomacy and business go hand in hand. From now on, synergies between the representation networks of the Federal Ministry for Europe, Integration and Foreign Affairs and the Austrian Federal Economic Chamber are to be used more efficiently.

February 26, 2016

Siemens Austria Builds World's Largest Metro Project in Saudi Arabia

The Austrian unit of Siemens announced in Vienna Simmering at the rollout of the first vehicle that a "a very, very big order” has been secured. With six lines and a total route length of 175 kilometers, the capital of Saudi Arabia Riyadh is planning the world's largest subway project. Siemens is to supply the entire turnkey system for two driverless metro lines.

February 24, 2016

Austrian Business Delegation to Visit India - Results

Austria's business delegation has returned from a five-day visit to India. What did they achieve?

February 23, 2016

Erste Group Provides Blackstone with a 5-Year EUR 91 Million Facility

Erste Group provides Blackstone with a 5-year EUR 91 million facility to acquire 12 logistics assets. The 265000 sqm portfolio covers 12 standing logistics investments located in Hungary (5), Romania (4), Poland (2) and Slovakia (1), as well as land reserves.

February 22, 2016