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Read the latest headlines about developments in international organizations, companies and institutions operating in Vienna, Austria
Vienna International Company News
OMV Receives Political Support for €1.3 Billion Purchase of Two UAE Oil Fields
An economic delegation led by Federal Chancellor Sebastian Kurz, with the participation of Margarete Schramböck, Minister of Economic Affairs, OMV CEO Rainer Seele and a small delegation had the main objective of supporting OMV in the concession agreement for the acquisition of a 20% stake in two fields offshore Abu Dhabi from ADNOC.
May 4, 2018
New Forum for Deepening German-Austrian Relations: Österreichisch-Deutsches Länderforum
Recently the Österreichisch-Deutsches Länderforum e.V. was founded in Vienna by Dr. Harald Wögerbauer with the intention of offering a platform for deepening German-Austrian relations.
May 2, 2018
Vienna's Attractiveness as a Location for Business Continues to Grow
For the sixth year in a row, Vienna recorded the highest number of companies settling in the city. After Vienna had already achieved a record figure in the previous year with 178 international new additions, this was again exceeded last year with 191 new companies, which is an increase of 13%. These business establishments together are responsible for investments totalling €537 million and 1,087 new jobs. There are 344 new foreign invested businesses throughout Austria. German companies remain the number one investors in Austria.
April 30, 2018
South Korea's LG Electronics Acquires Austrian Automotive Supplier ZKW for €1.1 Bln
South Korean electronics manufacturer LG Electronics is acquiring the Lower Austrian lighting and electronics systems specialist ZKW for more than 1.1 billion euros. It plans to buy a 70 percent stake in ZKW Holding, a supplier to Mercedes-Benz and BMW. Its holding company LG Corp. will purchase the remaining stake for 330 million Euro. LG hopes to expand its position in the automotive lighting sector for self-driving cars. ZKW was previously wholly owned by the entrepreneur Ulrich Mommert.
April 26, 2018
Raiffeisen Centrobank: Yearly Financial Report 2017
Raiffeisen Centrobank AG is declaring the following financial reports below.
April 26, 2018
Austria Participates in World EXPO 2020 Dubai Investing €16.5 Mln
Austria's participation agreement for the World Expo 2020 from 20 October 2020 to 10 April 2021 in Dubai has been signed by Government Commissioner Beatrix Karl as part of the "Austria Connect Gulf 2018" event of the WKO Foreign Trade Center (Außenwirtschaftscenter).
April 25, 2018
International Congresses: Vienna Worldwide Number Two - UN Events Contribute 7% of Conference Nights
The Vienna meetings industry progresses from record to record. With 186 meetings, Vienna remains behind Paris with 196 meetings, number 2 in the Worldwide Ranking of the ICCA (International Congress and Convention Association). In the year prior to that, Vienna was still in fifth place. The proportion of congresses that can be allocated exclusively to the United Nations is enormous and accounts for around 7% of overnight stays.
April 24, 2018
Agrana: Dividend Proposal of € 4.50 Per Share for the 2017|18 Financial Year
The Management Board of Agrana has decided to propose a dividend payout in the amount of EUR 4.50 per share for the 2017|18 financial year (dividend for 2016|17: EUR 4.00 per share) to the 31st Annual General Meeting to be held on 6 July 2018.
April 24, 2018
Doppelmayr to Build Cable Liner at London Airport
At London Luton Airport, Doppelmayr is building a cable car almost two kilometers long with a capacity of 2,720 passengers per hour and per route. This makes Luton Airport the second airport project in the UK after Birmingham for Doppelmayr. The Cable Liner is scheduled to go into operation in April 2021. Doppelmayr does not give details of the project turnover.
April 23, 2018
Kapsch TrafficCom AG Awarded Contract to Upgrade TollCollection Equipment on Maryland Roads
The Maryland Transportation Authority (MDTA) has awarded Kapsch TrafficCom (Kapsch) a contract to replace and maintain all roadside tolling equipment in the mixed-mode, cash, and express toll lanes under MDTA management. The contract commenced in February 2018 and includes the replacement of all toll equipment, expected to be converted to the Kapsch system by 2020, and six years of subsequent operations and maintenance as well as the option to extend the contract for additional four years. The project volume of the base contract exceeds EUR 55 million and will be managed locally from the Kapsch office in Rockville, Maryland.
April 23, 2018
Toys "R" Us in Austria Gets Northern Irish Owner
The Northern Irish toy dealer Smyths Toys takes over the 15 Toys "R" Us toy stores in Austria.
April 23, 2018
Austria Center Vienna Unveils Largest Modernization Concept in Its History
Austria's largest congress centre, the Austria Center Vienna, recently presented its modernisation concept until 2022. This will make completely new event formats possible and at the same time make the space around the house more attractive to the public. This is the largest construction project in the company's 30-year history.
April 20, 2018
Austrian Financial Market Authority Is Pleased With Whistle-Blowing System
In 2017 whistleblowers made 158 tip-offs regarding misconduct in the Austrian financial market. The FMA has been operating a special IT-based whistleblowing system since 1 February 2014 that allows the anonymous receipt of confidential information about possible instances of malpractice in supervised entities. FMA Executive Board: “Our whistle-blowing system is an important source of information for the FMA.”
April 20, 2018
Immigon Portfolioabbau AG: Yearly Financial Report 2017
immigon portfolioabbau ag is declaring the following financial reports below.
April 20, 2018
Top Energy Events Put Vienna in the Focus of the Global Clean Energy Economy
The Vienna Energy Forum 2018 in May in Vienna brings together a multitude of people and institutions to discuss and solve the key questions of the present on the topic of energy. Among them are heads of state, ministers, energy experts, representatives of international and non-governmental organizations, academia, civil society and the private sector. The PFAN Climate and Clean Energy Investment Forum and the R20 Austria World Summit are also part of this huge event. This event, sponsored by Arnold Schwarzenegger, is a high-level summit about leadership on implementing the Paris Climate Agreement and the United Nations Sustainable Development Goals.
April 19, 2018
Tourism: Vienna Achieves New Record Number of Overnight Stays
Vienna recorded a new tourist record in March with an increase of 8.5% compared to the previous year. The number of guest overnight stays rose to 1,169,000. Most of the tourists came from Germany, Italy, Russia, Spain, the UK and Switzerland.
April 19, 2018
Telekom Austria: Strategic Restructuring of Management and Supervisory Board
At Telekom Austria's Supervisory Board meeting, not only the change at the top of the company's Supervisory Board was sealed, but also the restructuring of the Management Board. Thomas Arnoldner (40), previously responsible for Sales & Services on the T-Systems Board of Management, replaces Alejandro Plater as Telekom Austria CEO. Economics lawyer Edith Hlawati takes over as Chairman of the Supervisory Board from Wolfgang Ruttenstorfer.
April 19, 2018
C-Quadrat Streamlines Corporate Group Structure
C-Quadrat plans to spin off the business operations of C-Quadrat Wealth Management GmbH (formerly: C-Quadrat Kapitalanlage AG) to ARTS Asset Management GmbH, in which the company holds a 45% stake. In return, societal profit participation rights ("sozietäre Genussrechte") will be granted to the company instead of additional company shares.
April 19, 2018
Palfinger: Andreas Klauser Appointed New CEO
The Supervisory Board of Palfinger AG concluded its search for a new CEO. Andreas Klauser (53), an accomplished top manager with international experience, who is currently the Global Brand President of Case IH and STEYR as well as member of the Group Executive Council of CNH Industrial, has been chosen to fill the position. He has more than 25 years of experience in the area of agricultural machinery and commercial vehicles.
April 16, 2018
OMV: Yearly Financial Report 2017
OMV Aktiengesellschaft is declaring the following financial reports below.
April 12, 2018
UNIQA: Yearly Financial Report 2017
UNIQA Insurance Group AG is declaring the following financial reports below.
April 12, 2018
Lenzing Resolves to Increase Special Dividend to EUR 2.00 Per Share
This year's Annual General Meeting of Lenzing AG resolved today, Thursday, April 12, 2018, to distribute a dividend of EUR 3.00 per share as well as a special dividend totaling EUR 2.00 per share. On balance, the dividend will amount to EUR 5.00 per no-par value share for the 2017 financial year (compared to EUR 4.20 per share in the previous year). The dividend payment is scheduled to take place on April 18, 2018, whereas ex-dividend day is on April 16, 2018.
April 12, 2018
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
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