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Vienna International Business News | Economic | Investment | Financial
Get the latest business news and analysis on the Austrian economy, including news on economic policies, foreign trade, financial developments and investments
C.A.T. oil: Results Influenced by Diversification into Third Core Business
The Lower-Austrian provider of oil and gas field services registered a net loss of € 1m due to high tax expense. Revenues increased by 29.4% yoy to € 61m.
May 30, 2011
Volume in Road Freight Transport Decreased by 1.7% in 2010
According to calculations by Statistics Austria, road freight transport has still not recovered from the crisis. VCÖ, by contrast, counted more trucks on Austrian roads.
May 27, 2011
Purchasing Power Parities 2011 from the Austrian Perspective
US travelling is cheap due to the strong euro. Austrians have high purchasing power advantages of around 50% in the Czech Republic, Slovakia and Hungary.
May 27, 2011
Warimpex: First-Quarter Loss Widens
The Austrian real estate company’s loss increased from € -0.7m to € -3.0m in the first quarter of 2011. EBIT fell from € 2.9m to € -0.3m.
May 27, 2011
Swiss Expert Criticizes Austria’s Role in International Money Laundering
OECD expert: “Austria is used as a gateway for international money laundering. It is doing too little to fight the phenomenon.” Only twelve convictions were made in 2009.
May 26, 2011
Slight Decline in OeNB’s Profit in 2010
The Austrian national bank's operating profit came to € 291m in the previous year. € 269m will be paid to the central government.
May 26, 2011
Exports on Track for New Record
New highs of Austrian exports are expected in 2011 and 2012. The growth rate was 24.2% in the first two months of the year.
May 26, 2011
EVN: 12% Drop in First-Half Net Income
The Austrian energy company recorded a substantial drop in group net income, mainly due to a 30.9% decline in the financial result.
May 26, 2011
Flughafen Wien Group: 4.8% Increase in Net Profit
Revenue: plus 6.9% to € 131.5m, net profit: € 19.8m. Traffic: plus 5.5% to 4.1 million.
May 26, 2011
RBI’s Results Above Expectations
The Austrian bank’s consolidated profit fell by 19.1% to € 270m, while analysts expected a decline to only € 253m. Net provisioning for impairment losses went down by 35.9%.
May 26, 2011
Austria’s Economy Is Growing Faster Than Expected
The Austrian economy has grown faster than expected. The OECD raised its growth forecast to 2.9%.
May 25, 2011
Mixed Quarterly Results for KTM
The Austrian motorcycle manufacturer reported significantly higher sales in the first three months of the year. EBIT, however, decreased by 78% year-on-year.
May 25, 2011
Uniqa Records Premium Growth in All Regions and Segments
The Austrian insurance group increased its IFRS premiums written by 3.0% to € 1.8bn in the first quarter of 2011. The group profit grew by 17.2% to € 27m.
May 25, 2011
SW Umwelttechnik Still in the Red
The Austrian technology company reported a slight increase in revenue. EBIT improved from € -2.9m to € -2.5m.
May 25, 2011
Electricity Price Index (ÖSPI) to Increase in June
The electricity price index for June 2011, calculated by the Austrian Energy Agency (Österreichische Energieagentur), indicates that prices of electric energy will rise.
May 25, 2011
CA Immo: Initial Consolidation of Europolis Prompts Sharp Rise in Earnings
The figures for the first quarter of 2011 show a strong rise in earnings following the inclusion of Europolis into the consolidated accounts of the Austrian real estate group.
May 25, 2011
Rosenbauer Slightly Below Expectations
The Austrian company manufacturing fire fighting vehicles reported revenues of € 107.3m in the first quarter of 2011. Analysts expected € 108.5m.
May 24, 2011
Surprisingly Good First Quarter Results for ÖBB
The Austrian Federal Railways achieved earnings of € 4.2m before tax in the first three months of 2011. For the full year, however, the company still forecasts a loss.
May 23, 2011
Slight Decline in Used Car Registrations
Registrations of used motor vehicles in April 2011: -4.8%; passenger cars -5.7%, lorries -8.8%.
May 20, 2011
Prices for Industrial Goods Continue Upward Trend
Industrial producer prices are still increasing in Austria: +5.4% in March 2011 compared to March 2010.
May 20, 2011
Conwert Announces Strong Growth in Revenues in the First Quarter of 2011
The Vienna-based real estate company records a good business development and a 24% increase in EBIT.
May 20, 2011
Crisis Not the Cause of Most Bankruptcies
The majority of last year’s insolvencies had company-internal reasons and was not directly related to the economic crisis.
May 19, 2011
ÖVAG: Strong Provisional Results for Q1 2011
Österreichische Volksbanken-AG Group (VBAG) expects a quarterly result of € 32m. The AGM concludes the combination of VBAG and Investkredit.
May 19, 2011
Austrian Cement Industry: Further Decline in Production
Total cement production is 20% lower than in 2008. A reversal of the trend is expected for 2012.
May 19, 2011
Borealis Records Strong Results in the First Quarter
The Austrian chemical company achieved a net profit of € 174m, an increase of € 120m. Both the Polyolefins and Base Chemicals businesses improved versus last year's results.
May 19, 2011
Sales Decline for Bene in the Financial Year 2010/11
The Austrian office furniture company reported a sales drop of 4.7% for the last year. EBIT improved from € -14.0m to € -8.2m.
May 19, 2011
„Austria Is Losing Its Competitiveness“
The Industrial Association’s president sees a “dramatic deterioration” of Austria’s competitiveness as a business location and criticizes a lack of respect for industrialists.
May 18, 2011
Atrium: 50% Decline in Pre-Tax Profit
Despite a growing rental income, the real estate company’s profit before taxation decreased from € 46.3m to € 26.4m.
May 18, 2011
Binder+Co Starts 2011 with Strong First Quarter Growth
The Austrian machine and plant manufacturer began the 2011 financial year in a successful manner. Company sales revenues were some 44% higher at € 17.34m, EBIT more than trebled to € 1.10m.
May 18, 2011
Strong Growth Rates for Schoeller-Bleckmann
The Austrian oilfield equipment company recorded strong results in the first quarter. Sales went up by 81.8%, EBIT quadrupled to € 20m.
May 18, 2011
Firms Asked to Reduce European Focus in Favour of BRIC States
The Austrian economy has to up its focus on emerging markets, the Economy Minister has warned. 83% of all exports go to customers in Europe.
May 17, 2011
Industrial Association Demands Modernization of School System
The Austrian Industrial Association emphasizes the role of school and the need for reforming the educational system as the economy already suffers from a skills shortage.
May 17, 2011
Upheaval in the Austrian Gambling Market
Casinos Austria are going to face competition. The exact conditions for granting the casino concessions have not been decided yet.
May 17, 2011
Austrians Prefer Holidays Abroad
Only 20% want to stay in Austria during their summer holidays. Increasing trend towards online booking.
May 17, 2011
RWA: Strong Results in 2010
The Austrian conglomerate achieved double-digit growth rates of revenues and earnings. The positive trend continues in 2011.
May 17, 2011
Urgent Need for Specialized Workforce
Lack of skilled employees hits Austrian crafts enterprises. Opening of the labor market could help to satisfy the demand.
May 17, 2011
Reactions to Treichl’s Criticism
Treichl’s criticism of Austrian politicians and Basel III rules has sparked a public dispute. WIFO disagrees and calls banks’ attitude “highly provincial”.
May 17, 2011
VIG Is Staying on Course in the 1st Quarter of 2011
Group premiums went up by 2.9% to more than € 2.6bn. Profit increased by 7.0% to € 142.8m.
May 17, 2011
Erste’s Treichl Says Politicians ‘Cowardly’ on Basel III Rules
Andreas Treichl, CEO of Erste Group, provokes fierce reactions with his criticism of Austrian politicians and new international capital rules.
May 16, 2011
Inflation Rate Increases to 3.3%
The highest inflation rate in Austria since 2008 is mainly due to price increases of oil products and groceries.
May 16, 2011
Pankl Announces Earnings and Sales Growth
Pankl Racing Systems AG records a 13.6% increase in revenues. EBIT improved by 40% from € 2.5m to € 3.5m.
May 16, 2011
voestalpine: Eder Threatens to Withdraw from Austria
The voestalpine steel company has to struggle already massively with the EU’s climate change protection objectives, said Eder. They should not be increased further.
May 14, 2011
Leitl: "Reforms, Despite the Positive economic Outlook Should Not Be Forgotten"
Spring forecast by the EU Commission: Clearly improved growth prospects for Austria and the European Union
May 14, 2011
Growing Sales at Wiesner-Hager Furniture
Wiesner-Hager, the Austrian office furniture specialists succeeded in completing the business year 2010/11 with growths both in sales and profits.
May 14, 2011
Strong Growth rates for BAWAG P.S.K. Insurance
BAWAG P.S.K. Versicherung AG was able to get into the Top-Ten group of Austrian life insurance companies for the first time, due to its growth in 2010.
May 14, 2011
Austria's Economy Grew Strongly Again in the First Quarter of 2011
According to the latest WIFO flash estimate, the domestic GDP grew, in real terms and seasonally adjusted, by 1% in the 1st Q. 2011. Compared with the previous quarter (4th Q. 2010: +0.9%), the expansion rate has picked up slightly.
May 14, 2011
Bank Austria Starts the Year with Net Profit of € 341m
Operating profit up by 8 per cent to € 851 m compared with Q1 2010, driven by strong revenue trend in commercial banking business and flat cost development
May 14, 2011
Austria's Manufacturing Industry Warns of a Shortage of Apprentices in the Technological Field
There is a shortage of applicants for the manufacturing industry-related and production-oriented technology areas; the demographic trends will intensify the problem.
May 13, 2011
Declining Sales at UBM
The Austrian real estate company hat do report a decline in sales of 15%. However, profits rose slightly.
May 13, 2011
Sanochemia Confirms the Turnaround and Returns to Profitability
Sanochemia reports a profit and puts the focus on market expansion. Revenue increased by 20 percent year-on-year.
May 13, 2011
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