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Read the latest headlines about developments in international organizations, companies and institutions operating in Vienna, Austria
Vienna International Company News
Minister of Economy Visited Huawei and Alibaba During State Visit to China
Federal Minister of Digitization and Business Location Margarete Schramböck signed an agreement to facilitate access to Chinese trading platforms for Austrian companies during the current state visit to China at the Ministry of Foreign Trade and Economic Cooperation (MOFCOM) in Beijing. Global experience shows, however, that one should be cautious with regard to technical cooperation with Chinese and copyright issues.
April 12, 2018
Telekom Austria Prepares Expansion in the Western Balkans
Telekom Austria is strategically strengthening its search for takeover targets and has made EUR 1 billion available in the war chest. CEO Alejandro Plater has announced his intention to expand again in the Western Balkans (Serbia, Croatia and other countries of former Yugoslavia).
April 11, 2018
Casinos Austria International Will Not Be Sold
Casinos Austria AG (CASAG) stops the sale of Casinos Austria International (CAI).
April 11, 2018
Austrian Airlines: Alexis von Hoensbroech Succeeds Kay Kratky as CEO
Alexis von Hoensbroech is to become the new Chairman of the Executive Board of Austrian Airlines. The current AUA CEO Kay Kratky, whose contract ends in July, is leaving the company.
April 11, 2018
Austria's Capital Market for SMEs on the Brink of a Renaissance
Finance Minister Hartwig Löger plans to revive the Austrian capital market for SMEs by making trading of bearer shares of Austrian companies on the Third Market possible again.
April 11, 2018
C-Quadrat: Yearly Financial Report 2017
C-Quadrat Investment AG is declaring the following financial reports below.
April 6, 2018
Opel-PSA Group Plans Job Cuts in Vienna
By summer, 140 employees are to leave the Opel plant in Aspern. A further reduction could be avoided thanks to a new transmission order from Opel parent Groupe PSA. Engines will be produced for the previous Opel owner General Motors (GM) until 2019/20. What comes after that is still uncertain.
April 6, 2018
Telekom Austria AG: Yearly Financial Report 2017
Telekom Austria AG is declaring the following financial reports below.
April 6, 2018
OMV Buys Oilfield Shares in Abu Dhabi for USD 1.5 Bln
Listed oil corporation OMV is acquiring 20 percent of two offshore oil fields in Abu Dhabi from the Abu Dhabi oil group ADNOC. The purchase price for the concession and the associated infrastructure amounts to USD 1.5 billion. OMV has already a long relationship with Abu Dhabi. OMV opened a representation office in Abu Dhabi in 2007. Today Abu Dhabi is the location of the Business Hub for OMV´s Upstream Middle East & Africa activities.
April 6, 2018
Fire Brigade Equipment Supplier Rosenbauer: Profit Halved in 2017
Despite a record order intake, the profit of the Upper Austrian firefighting equipment supplier Rosenbauer halved in the 2017 financial year. This was partly due to a slump in demand in the Middle East and North Africa, but also to the recently reported irregularities at a German subsidiary, which led to a write-down of EUR 3.5 million.
April 6, 2018
FACC Achieves Sales Record of EUR 750.7 Mln in 2017/18
FACC, the Sino-Austrian aircraft component manufacturer generated preliminary sales of 750.7 million euros, and the order backlog increased to US$ 5.9 billion. On March 19, FACC entered the ATX, Austria's leading index on the Vienna Prime Market, and has since been one of the 25 largest and most traded companies in Austria.
April 4, 2018
VIC Strengthens Presence in Hungary and Slovakia
Hungary’s central bank approved the merger of the three VIG Group companies. As a result VIG will be represented in Hungary solely by the insurance company Union Biztosító. In Slovakia, bancassurer Poisťovňa Slovenskej sporiteľne (PSLSP) will merge with Kooperativa poisťovňa.
April 3, 2018
Money Laundering: RBI Is Fined EUR 2.7 Million
The Austrian Financial Market Authority (FMA) has imposed the highest fine ever imposed by the FMA, i.e. a fine of EUR 2.748 million against Raiffeisen Bank International AG.
April 1, 2018
Austrian Budget Airline LaudaMotion: Fighting the Top Dog Lufthansa
LaudaMotion is to become a powerful low-cost airline. Ryanair ultimately intends to acquire a 75 percent stake. From June 2018, a total of 65 routes are to be served from Vienna, from seven German airports (Berlin/Tegel, Cologne, Düsseldorf, Frankfurt, Munich, Nuremberg, Stuttgart) and from Zurich to the Mediterranean region and to the Canary Islands.
March 30, 2018
Former Finance Minister Schelling Appointed Gazprom Advisor
Hans Jörg Schelling, former Austrian Minister of Finance until December 2017, has signed an advisory contract with Nord Stream 2 gas pipeline three months after his handover. OMV is also involved in the project, of which he was the owner's representative as Austrian Minister of Finance.
March 30, 2018
Eurowings also Expands Vienna Connections
With the summer flight schedule 2018 Eurowings, the discount airline subsidiary of Lufthansa, is adding new destinations from Vienna to Corfu, Larnaca, Catania, Chania, Kos, Heraklion and Rhodes.
March 30, 2018 · Sponsored Content
AUA Starts with Summer Flight Schedule 2018: More Flights to Germany, but CEE Remains Core Market
Austrian Airlines offers a flight program with 138 destinations in 55 countries in summer 2018.
March 26, 2018
Expat Advise: How Does the Austrian Tax and Social Security System Work?
If you are moving to Vienna as an expat or are already living here with employment income and want to find your way around the complicated Austrian tax and social security system, Vindobona recommends attending an interesting event organised by the Vienna Business Agency and Deloitte Austria.
March 22, 2018
Ryanair Acquires 75 Percent of LaudaMotion
The Irish low-cost airline Ryanair is paying 100 million euros for the share. Ryanair will initially take over 24.9 percent of Laudamotion and intends to increase it to 75 percent, subject to the approval of the EU competition authority. The airline founder will continue to be in charge.
March 20, 2018
TTTech Sets Up Joint Venture in Shanghai to Deploy Key Technology for Autonomous Driving Cars in China
The Vienna-based technology company TTTech and China's largest automotive group Shanghai Automotive Industry Corporation (SAIC) announced a joint venture with the intention to produce an Intelligent Driving Central Controller (iECU), which will be installed on the first China-made intelligent driving vehicle later this year. TTTech holds 49.9 percent in the new joint venture.
March 15, 2018
RBI Doubles Net Profit, Pays Dividends Again and Returns to Growth Course
RBI - Raiffeisen Bank International has doubled its profit in 2017 and rewards shareholders. They have not received any dividends since 2013. The bank had to pursue a sharp austerity course, reduce international business volumes, close branches in Eastern Europe and stop dividend payments. Russia remains the most important source of income.
March 15, 2018
LGT Group Reports Profit of CHF 283.4 Mln
LGT, the private banking and asset management group owned by the Princely House of Liechtenstein, reported strong net asset inflows and a significant increase in profits for the 2017 financial year. Group profit for the full year rose 23% to CHF 283.4 million. Net asset inflows, excluding acquired assets, amounted to CHF 17.7 billion, which corresponds to organic growth of 12%. As at the end of 2017, assets under management increased by a total of 33% to CHF 201.8 billion.
March 12, 2018
ATX: AT&S and FACC to Join, Agrana and Zumtobel to be Removed
The ATX index composition of the Vienna Stock Exchange has been reviewed on its quarterly basis. FACC AG will be joining ATX for the first time since it became exchange-listed. AT&S AG will rejoin. Agrana and Zumtobel will be removed. Decisions on additions and removals to the index are based on average daily trading volumes and the free float capitalization of companies.
March 9, 2018
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
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