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Economic Growth

Voestalpine: Doubling of Sales in Five Years

By 2015, the Chairman of the Board of the Austrian steel group, Wolfgang Eder, intends to achieve sales over € 15b billion through expansions.

December 6, 2010

Triple-A Rating: Treichl vs. Nowotny

The Chairman of the Erste Group is not convinced anymore by Austria's financial policy; the Governor of the National Bank however, still stands on "AAA".

December 3, 2010

Stable Recovery of Austrian Economy

The Oesterreichische Nationalbank (OeNB, Austrial National Bank) is assuming a growth of the economy of 1.9% for 2010. Further acceleration is possible for subsequent years.

December 3, 2010

Equity Requirements of Austrian Banks are € 18 billion

Due to the new Basel III regulations, Austrian banks will need a much stronger capital base by 2019. The estimation is € 15 billion to € 18 billion.

December 2, 2010

Austria's Position in the CEE Region Shakes

According to the Roland Berger consultancy agency, Austria receives not only competition in the CEE countries, but the importance of the region also decreases from a global viewpoint.

December 1, 2010

Growth Trend in Austrian Advertising Market

After the crisis year 2009, the Austrian advertising industry expects strong growth. The first signs are already visible.

December 1, 2010

Carinthia Back on Growth Path

A business survey in Carinthia showed an increasingly positive image. Optimism is rising.

November 30, 2010

EU Growth Forecast: Austria Slightly Over Average

The EU Commission has revised its growth forecast for 2011 slightly upwards. Austria stays at 1.7% in the above average area.

November 30, 2010

Bank Austria: Growth Potential for Real Estate in Romania and Bulgaria

Despite the signs of economic revival, Bulgaria and Romania markets are still largely being ignored by international investors, says Bank Austria.

November 29, 2010

WIFO: Budget Consolidation in the EU is Not Sustainable

WIFO criticizes the consolidation programs of the individual EU countries for being easily enforceable, but containing hardly any sustainable measures.

November 29, 2010

Verbund Completes its € 1bn Capital Increase

Vienna Stock Exchange listed Verbund AG successfully completed its capital increase and placed 39,215,686 new shares.

November 26, 2010

WKÖ’s Secretary General Advocates for Educational and Administrative Reform

Young people have to be trained practically to meet the challenges of the future. An administrative reform should not be foregone, said Hochhauser.

November 25, 2010

Leitl Vehemently Asks the Government for Structural Reforms

The President of the Austrian Economic Chamber (WK), Christoph Leitl, call on the government for location and future investments.

November 25, 2010

Europe's Public Debt and Unemployment Remain High

Austrian Institute of Economic Research: The revival of the EU states, driven by expansionary economic policies and export growth, is ebbing.

November 25, 2010

Industrial Production: Increase Over Last Year, but Trend is Declining

The September 2010 production index shows a significant increase of 3.6% in Austrian industrial production over the previous year.

November 24, 2010

Tann Paper Opens Factory in Russia

The Upper-Austrian company makes its initial step in Russia. Further investments are possible.

November 23, 2010

Volksbanken Group Announces Q3 Results

Österreichische Volksbanken-AG Group (VBAG) returns on a positive growth path. The turnaround has been successfully completed.

November 22, 2010

BKS and BTV Show Profit Growth

The two sister banks report strong profits. Expectations are cautiously optimistic.

November 22, 2010

CEE: Catch-Up Process Starts Again

After the growth break caused by the economic crisis, Eastern Europe is back on the upswing. However, the catch-up process has been delayed by years.

November 22, 2010

OMV Plans to Expand Further in Turkey

The Austrian oil and gas group is still assessing the best form of financing Petrol Ofisi. Further projects in Turkey are being evaluated.

November 22, 2010

Rosenbauer Group Announces Q1-Q3 2010 Results

Revenues rose by 9.6%, EBIT is 22.4% above the level of 1-9/2009.

November 19, 2010

UniCredit: Expansion to the Czech Republic, Poland and Turkey

UniCredit’s subsidiary Bank Austria functions as an Eastern Europe Holding. 40% of the net income of the group comes from the region by now.

November 19, 2010

OECD: Austria's growth until 2012 at 2%

According to the report, the economy is returning back to normal values, but it will have to manage without fiscal stimulus.

November 18, 2010

Study: Agricultural Subsidies Produce No Growth

The Austrian Institute of Economic Research has determined that growth in the Austrian regions is accelerated by EU regional promotional financing, but not by agricultural subsidies.

November 18, 2010

Voestalpine Announces Q1-Q3 2010 Results

Voestalpine group increases EBIT by almost tenfold up to € 414m. Revenue goes up by 24.2% due to significant growth in sales

November 18, 2010

Linz Textil Announces Q1-Q3 2010 Results

The textile group was able to attain a sales increase of 20% and also a significant increase in earnings.

November 18, 2010

Junge Industrie Wien: Explosive Generational Balance Study

Junge Industrie Wien calls for "courageous steps". The credo is future investments instead of transfer payments.

November 17, 2010

Oberbank Announces Results for Third Quarter 2010

Due to the expansion of interest and commission income and a stable cost structure, Oberbank has achieved an excellent result.

November 16, 2010

Austria´s Economy: Recovery Accelerates

According to the Report of Bank Austria “Austria´s Economy”, GDP increases stronger than expected. The labor market experiences some weaknesses.

November 15, 2010

OeNB Governor Nowotny "During the Crisis, the Euro Acted as a Protection Shield Beyond the Euro Area"

The Governor of the Austrian National Bank, Ewald Nowotny warns to fiscal discipline and talks about economic challenges and opportunities in Europe.

November 15, 2010

Ottakringer Expands

After restructuring, the Vienna beer and mineral water producer plans to grow through acquisitions.

November 12, 2010

Austria: Strong Growth Again in the Third Quarter 2010

According to the latest flash estimate of the Austrian Institute of Economic Research (WIFO), Austria's economy again expanded in the third quarter of 2010 by 0.9% over the previous quarter (after +1.2% in the second quarter).

November 12, 2010

Strabag SE With Optimistic Outlook for 2011 and 2012

The building company expects its output volume in 2011 to amount to € 13.5bn, the EBIT in 2011 is estimated to account for € 295m.

November 10, 2010

UniCredit CEO Ghizzoni: Counting on eastern growth

The eastern business should be expanded, says Ghizzoni, CEO of the parent company of Bank Austria.

November 10, 2010

Hypo Alpe Adria: Involvement in Southeastern Europe to be maintained

The Carinthian bank intends to continue operating in the Balkans. The active involvement is justified because the region is the one with most significant growth in Europe and Hypo has the status of a systemically important bank.

November 10, 2010

OMV Announces Results of January – September 2010

Austria´s biggest company posts a strong operating performance compared to previous year.

November 10, 2010

Traffic Result of AUA for October: Significant Passenger Growth

Austrian Airlines transported 16.5 percent more passengers in scheduled service than in same month last year. Load factor in October rises to 81 percent.

November 9, 2010

OeKB: Further Expansion in CEE Region

According to the OeKB (Oesterreichische Kontrollbank), the business climate index in Central and Eastern Europe (CEE) showed an improvement in recent months.

November 9, 2010

Heinzel Group: Unrestricted Expansion

This year, the Austrian paper group expects a turnover of 650 million euro; in 2011 the billion mark will be exceeded.

November 9, 2010

Raiffeisen CEO Stepic: CEE Continues Being Europe’s Growth Driver

The boss of Raiffeisen Bank International Bank (RBI), Herbert Stepic, sees the CEE region continuing as long-term growth driver for Europe.

November 8, 2010

Andritz: Favorable Development in the First Three Quarters

Technology Group ANDRITZ showed a favorable business development in the first three quarters of 2010. Sales, earnings and profitability rose substantially.

November 8, 2010

Manufacturing and Export Trade are Growth Driving Forces

Austria's export sector and the manufacturing industry will benefit in particular from the strong economy situation in Germany. The labor market continues being animated, particularly manufacturing industry-related areas.

November 5, 2010

Polytec Group Continues Upward Trend

The Upper-Austrian automotive component supplier is able to record rising earnings also in Q3 2010.

November 3, 2010

Unemployment: Sharp Decline in October

Compared with the previous year, unemployment was reduced by 8%. The decline is attributed primarily to an increase in the demand for temporary workers.

November 2, 2010

RHI: New Boss Wants to Double Profits by 2015

RHI pursues ambitious growth plans. Higher sales and profits are to be generated mainly through expansion in emerging markets.

October 29, 2010

Industry: Good Prospects for 2011

The general optimism in the industry leads to the expansion of production and more personnel recruiting.

October 28, 2010

AT&S Leaves the Crisis Behind

Thanks to growth in sales and massive investments, AT&S looks forward to a positive future.

October 21, 2010

Voestalpine: Good Prospects

Voestalpine has got back fast on the road to success. Cost reduction and growth outside Europe are the recipes.

October 21, 2010

IMF Considers Recovery as "Moderate and Uneasy"

Growth in Europe seems to be normalizing slowly. Dynamism is missing though, and many vulnerabilities are as yet unresolved.

October 20, 2010

Tax Evaders Targeted by the Ministers of Finance

Budget problems plague the majority of EU countries. In addition to budget discipline, the prosecution of tax evaders is to be addressed.

October 18, 2010
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