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Read the latest headlines about developments in international organizations, companies and institutions operating in Vienna, Austria
Vienna International Company News
Austrian Delegation Seeks to Improve Economic and Political Relations with Jordan
An official visit of President Van der Bellen to Jordan will take place from 17 April to 19 April 2018. The delegation to Amman will be accompanied by an economic mission headed by WKO Vice President Richard Schenz. The economic mission of the WKO is the response of an invitation issued some time ago by the President of the Chamber of Commerce of the Kingdom.
March 8, 2018
Mainland Chinese Billionaire Guo Guangchang to Take Over Austrian Asset Wolford AG
Shanghai based Fosun Group through its Hong Kong (Central) vehicle Fosun Industrial Holdings Limited (Fosun) has taken over control of one of Austria's last remaining lingerie assets. According to Wolford, its new strategic core shareholder has agreed to pay at least €36M for a 50.87% majority stake in Wolford AG. Wolford has been struggling with management problems for some time. It also has been loss making for several years. Fosun Industrial Holdings Limited, a subsidiary of Fosun International Limited (British Virgin Islands) is an investment holding company with interests in asset management and entertainment services. Fosun wants full control of the lingerie maker. Upon the closing of the share purchase agreement Fosun intends to launch a takeover offer to the remaining shareholders. Fosun was co-founded in 1992 by Fudan graduate Guo Guangchang who meanwhile became the 34th richest person in China with a net worth of €7 billion.
March 3, 2018
Austrian Airlines to Hire 600 New Employees, to Fly to Tokyo and Cape Town
Close to 12.9 million passengers flew with Austria’s national carrier last year, comprising a rise of 12.8 percent compared to the previous year. In 2018 the airline plans the integration of another long-haul aircraft, a Boeing 777-200 jet, in its fleet. It is planned to hire 150 employees just to operate this one new aircraft. In total about 200 pilots, 300 flight attendants and 100 employees in the fields of aircraft maintenance and ground handling will be hired. The additional capacity will enable Austrian Airlines to expand its intercontinental route network to Japan and South Africa.
March 1, 2018
Chancellor Kurz Visits President Putin: "The situation in Syria is dramatic"
Austrian Chancellor Sebastian Kurz traveled to Moscow to meet Vladimir Putin. The focus of the trip was a working meeting with the Russian President, with whom Kurz discussed, among other things, the bilateral relations of both countries, the relationship between Russia and the EU, the Ukraine conflict and the current situation in Syria.
February 28, 2018
Bawag Pays €110M for Separation from Austrian Post
Bawag presents its preliminary figures for 2017. The net profit will amount to 466.6 million euros (-1.4 percent). Due to profits, there will be dividend payments to shareholders. The long-term distribution partnership with Austrian Post is to be terminated.
February 28, 2018
Expansion of Airport City of Vienna International Airport Will Create More than 1,000 New Jobs
Vienna International Airport (Flughafen Wien AG) reports an improvement in the earnings outlook and projected traffic results for 2018. Net profit for the period before non-controlling interests is up to at least EUR 140 million, passenger growth of over 7% in the group and 5% at Vienna International Airport. The management board will propose to the Annual General Meeting that an increased dividend of EUR 0.68 per share should be distributed. Also, the expansion of the Airport City will create more than 1,000 new jobs. The Flughafen Wien Group, including its strategic foreign investments in Malta and Kosice Airports, anticipates passenger growth of more than 7% in 2018.
February 27, 2018
AMAG Exceeds EUR 1 Billion Revenue Level for First Time in Its History
AMAG Austria Metall AG continued on its growth track in the 2017 financial year, achieving its best operating result historically (Revenue: +14 % to EUR 1,036.2 million; EBITDA: +15 % to EUR 164.5 million) and reaching a milestone for further organic growth with the commissioning of its new cold rolling mill and further finishing plants. Net income after taxes amounted to EUR 63.2 million (+36 %).
February 27, 2018
ams Launches EUR 600 Million Convertible Bond Placement
With the consent of the supervisory board, the management board of AMS has resolved to launch a private placement of senior unsecured zero-coupon convertible bonds due in 2025, in an aggregate nominal amount of EUR 600 million and a denomination of EUR 200,000 each. The Bonds are initially convertible into 4.41 million new ordinary no par value bearer shares from the Company's conditional capital, representing approximately 5.2% of the current outstanding share capital of ams. Subscription rights of existing shareholders of ams to subscribe to the Bonds have been excluded. The Bonds will not bear interest.
February 26, 2018
Egger Holzwerkstoffe to Issue Subordinated Bond
Egger Holzwerkstoffe intends to issue a deeply subordinated bond with perpetual maturity and an early redemption option for the issuer after five years (hybrid bond). UniCredit Bank AG has been mandated as Sole Structuring Advisor and Sole Bookrunner. Raiffeisen Bank International AG acts as co-lead manager.
February 26, 2018
Lenzing AG - Dividend Remains Constant, Special Dividend Higher
The Management Board of Lenzing AG has resolved to propose distribution of an unchanged basic and higher special dividend for 2017 financial year on the basis of its preliminary business results which have not yet been subject to a final audit. The dividend of EUR 3.00 per share is planned to remain constant, whereas the special dividend should be increased from EUR 1.20 to EUR 2.00 per share due to Lenzing's performance in the 2017 financial year.
February 26, 2018
KTM to Manufacture Motorcycles in China
The Upper Austrian motorcycle manufacturer KTM plans to produce motorcycles in China from 2020/21 as well. Currently KTM manufactures at the company headquarters in Upper Austria (Mattighofen), as well as together with the partner Bajaj in India (Pune).
February 23, 2018
How do Russian Politicians and Oligarchs Withdraw their Money from Austria?
The Russian money nobility has begun to repatriate large amounts of its western-hoarded money back to Russia in order to deprive it of access by Western authorities. The countries of origin are above all Switzerland, but also Austria and Great Britain. Sberbank, Russia's largest and state-owned bank, speaks of an atypically high capital inflow to Russia. Within a few weeks, a tripling of such repatriation transactions took place compared to the same period of the previous year. The sum is hundreds of millions of dollars. The average transfer amount has increased within a year by 50% to 3 million dollars. This meets with the Kremlin's desire to repatriate Russian assets.
February 22, 2018
OMV Group Reports Operating Result of EUR 688 Mln in 2017
OMV AG is reporting group results for 2017. The operating result increased by 67% to EUR 688 mn. Net income attributable to stockholders amounted to EUR 367 mn. Data includes latest two acquisitions of a 24.99% share in the Yuzhno Russkoye natural gas field located in Western Siberia (see picture) and the purchase of 40% in SMATRICS, Austria’s complete provider for all services related to electro - mobility. See OMV Group Report January – December and Q4 2017 including condensed consolidated financial statements as of December 31, 2017 and Investor Relations Video below.
February 21, 2018
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
Semperit introduces sustainable restructuring and transformation, expected pass of dividend
Semperit AG Holding introduces a phase of sustainable restructuring. The necessity of this decision is underlined by the fact that from the current point of view a single-digit negative EBIT will be reported for the last quarter of 2017.
January 25, 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
Changes in the Supervisory Board of Aircraft Component Manufacturer FACC
Board member Mr. Wang Xuejun will be replaced by Ms. Li Li as a new member of the Supervisory Board of FACC AG. She will be delegated by FACC International Company Limited, Hong Kong, which holds a stake of 55.5% of the total of Xi’an Aircraft's stake of 91,25 %. Ms. Li is currently Director of Accounting at the Xi'an Aircraft Industry Group. She holds a law and economics degree from Zhongnan University. She also obtained an MBA from Missouri State University Branch Campus Dalian in the People's Republic of China.
November 20, 2017
Strabag Secures Orders in Poland for 170 Million Euros
Austria's largest construction group has received orders worth 170 million euros in Poland. The General Directorate for National Roads and Motorways (GDDKiA) awarded three road contracts to the Polish subsidiaries of Strabag, said the listed company in a release.
October 31, 2017
Andritz Receives 90 Million Euros Order for Power Plant Renewal in Canada
The listed technology group Andritz has landed a major order for the renovation of a hydroelectric power station in Canada. "The order value is over 90 million euros," said Andritz by press release. The Styrian company will therefore renew six of the eight turbine units of a power plant in the province of Saskatchewan for the Canadian electricity supplier SaskPower.
October 31, 2017
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
Oil Price Hardly Matters for Russian Country Risk
The oil price decline has created headwinds for the Russian economy. However, the risk of doing business in Russia as determined not only by economic but also by political and structural factors has not changed substantially and there is therefore no evidence that the oil price decline had a significant impact on Russian country risk.
November 2, 2016
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
Most Expensive Expatriate Cities: Vienna Moves Up to 54th Place Overall in the Index
For the 22nd year running, global HR consulting firm Mercer has published its annual Cost of Living Ranking that lists the costliest and cheapest destinations for expatriates. Asia hosts five of the world’s 10 most expensive cities for expatriates. Hong Kong is once again the world’s most expensive city for expatriates. Vienna moves up to 54th place from 56th place overall in the index. 209 countries have been surveyed. See the full index below.
July 22, 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
Vienna Insurance Group Buys AXA Subsidiaries in Serbia
Vienna Insurance Group (VIG) is acquiring AXA’s life and non-life companies in Serbia. The purchase will increase VIG’s market share in Serbia to around 11.5 percent.
July 7, 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
RBI Closes Sale of Raiffeisen Banka in Slovenia
Following the completion of all regulatory requirements, Raiffeisen Bank International AG (RBI) formally closed the sale of its Slovenian bank, Raiffeisen Banka d.d. The sales price will be kept confidential.
July 1, 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
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
VSE and CEESEG: Heimo Scheuch to Serve as New Chairman of the Supervisory Board
Changes in the supervisory board of Wiener Börse AG and CEESEG AG have taken place and a new executive committee was elected. Heimo Scheuch, CEO of Wienerberger AG, will serve as Chairman of the Supervisory Board. Angelika Sommer-Hemetsberger, member of the Management Board of Oesterreichische Kontrollbank AG, was elected Vice-Chairwoman of the Supervisory Board.
June 15, 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
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
Long-Distance Coach Operator Flixbus to Compete with ÖBB Austrian Railways
Austrian state-run rail company ÖBB Austrian Railways is facing increasing competition of German mobility provider Flixbus which has just launched its third connection for Austria's regional capital cities, between Graz and Salzburg. In January 2016 FlixBus announced its entry to the markets of Central and Eastern Europe with the new branch FlixBus CEE. This includes six countries (Czech Republic, Slovakia, Hungary, Poland, Slovenia and Croatia) with new lines in the making. () am
April 27, 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
Air India to Fly Daily Between Vienna and New Delhi
India's national passenger carrier Air India launched direct non-stop flight operations between Vienna and Delhi, India.
March 31, 2016
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