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Get the latest business news and analysis on the Austrian economy, including news on economic policies, foreign trade, financial developments and investments
Economic Downturn Reaches Austria
A current survey indicates an imminent deterioration of the Austrian economy. Researchers don’t expect a recession but a clear downward trend.
September 9, 2011
Austrian Economy 2010: Noticeable Recovery
According to calculations by Statistics Austria, the Austrian economy grew by 2.3% in the year 2010. GDP per inhabitant amounted to € 34,120.
September 9, 2011
New Car Registrations Up by 4.8% in August
Registrations of new motor vehicles in August 2011: +4.2%; passenger cars: +4.8%, lorries: -0.3%.
September 9, 2011
Miba Reports Strong Growth in Sales
The Austrian component supplier achieved a sales increase of 38.5% in the first half of FY 2011/12. EBT amounted to € 28.6m, slightly higher than in the previous year.
September 9, 2011
Retail Trade with Significant Drop in Revenue in July
Adjusted for inflation, revenue of the Austrian retail companies declined by 4.6% compared to the previous year.
September 8, 2011
Saloon Talks in Polish Ambassy: „Europe Needs New Leadership“
In the Polish Ambassy in Vienna, the former Prime Ministers of Poland, Aleksander Kwasniewski and Austria, Wolfgang Schüssel, talked about their vision for the European Union.
September 8, 2011
Asfinag Pays First Dividend Since 2008
A pending lawsuit might cost the Austrian motorway financing company up to € 37m. Full-year profit is still expected to rise.
September 8, 2011
Austrian Competitiveness Shrinks Further
According to a market survey of the consulting group Ernst & Young, Austria´s international competitiveness has still worsened and fell from rank 18 to 19.
September 7, 2011
Bank Aid Package is a Loss for Austria
For the Austrian Republic, the recapitalization measures for Austrian business banks is a losing deal. Losses amount to € 237m.
September 7, 2011
CEE Economic Forum: Green Trends for Eastern Europe
In 2011, Forum Velden in Carinthia celebrates its 5th anniversary. Since its foundation in 2006, over 1.500 experts, top-managers and politicians from over 25 countries have participated in the Forum.
September 7, 2011
IMF Puts Pressure on Austria
The IMF shows itself content with the Austrian post-crisis policies. But now, Austria has to reduce new indebtedness.
September 7, 2011
Upward Trend for Austrian Service Industry
Austrian service enterprises achieve turnover increase by 4.6% in the first half of 2011
September 7, 2011
Strong Rise in Industrial Prices Holds On
Austrian Wholesale price index in August 2011: +6.9% against August 2010. However, compared to July 2011, prices decreased.
September 7, 2011
Federation of Austrian Industries: “No New Taxes!”
The debate about the introduction of property taxes in continues. The Institute of Economic Research (WIFO) approves such taxes.
September 6, 2011
Joschka Fischer: „Nabucco is in time“
The former Minister of Foreign Affairs of Germany, Joschka Fischer, is optimistic regarding the realization of the Nabucco Gas Pipeline.
September 6, 2011
Leitl: „Austrian Economy Suffers from Lack in Skilled Labor“
According to Christoph Leitl, President of the Austrian Chamber of Commerce, 70% of all enterprises have difficulties in finding highly-skilled workers.
September 6, 2011
Green Party: Accusations against OMV
The member of the Austrian Parliament, Peter Pilz (Greens) considers bribe payments from the oil and gas company OMV to Mensdorff-Pouilly.
September 6, 2011
Austrian Foreign Trade Rising Significantly
January to June 2011: Austrian imports rose by almost 19%, Austrian exports increased by more than 17%
September 6, 2011
Slight Decrease in Profits for Zumtobel
The Austrian lighting company reports rising revenues in the first quarter 2011. Profits are declining.
September 6, 2011
Ex-Chancellor Schüssel Resigns from Parliament
Wolfgang Schüssel retires from the political stage as a consequence of the market manipulation and corruption affair at Telekom Austria.
September 5, 2011
“Telekom, Post and OMV Could Be Privatized Immediately”
Karlheinz Kopf calls for privatizations in the infrastructure sector. Last year, the Austrian state earned € 244m from its shareholdings.
September 5, 2011
Property Tax : € 25.000 for Every Rich Person?
The Austrian Socialist Party (SPÖ) claims to introduce property taxes. About 80.000 people in Austria would be concerned.
September 5, 2011
Fekter: No Nationalization of VBAG
The Austrian Finance Minister has the right to nationalize the bank if it does not pay a dividend on the state’s € 1bn of participation capital.
September 2, 2011
Raiffeisen Centrobank Reports Increase in Profit
Net interest income declined, while trading profit and net fee and commission income increased substantially. Turbulences on financial markets might burden the bank’s business development.
September 2, 2011
August Brings First Rise in Unemployment Rate in 17 Months
First signs of a weakening labor market: The number of unemployed rose by 0.4% to 219,247 in August. Job vacancies were down 6.7%.
September 1, 2011
Strong Growth in Lending to Private Households
Loan development in the second quarter: Total lending volume grows; opposing trends are registered for new loans to enterprises and private households.
September 1, 2011
Manner: Results Burdened by High Commodity Prices
The Austrian candy manufacturer posted a loss of € 2m in the first six months of the year. Revenue increased by almost 11%.
August 31, 2011
Alpine Reports Drop in Earnings
Austria’s second largest construction group incurred a loss of € 3.1m in the first half of the year. Strong growth in construction output was offset by increasing material and personnel expenses.
August 31, 2011
Wifo Cuts Growth Forecast for 2012
The research institute sees the current economic upward trend coming to an end but does not expect a recession in Europe.
August 31, 2011
Austria Confirms Top Ranking in EU Unemployment Statistics
The Austrian unemployment rate continued to decline in July. It dropped to 3.7% from 3.9% in June.
August 31, 2011
Fabasoft: Decline in EBIT despite Sales Growth
The Austrian software company recorded mixed results in the first quarter of its fiscal year. Revenue increased by 4.2%, EBIT turned negative and amounted to € -152,000.
August 31, 2011
bwin.party in the Red
The Austro-British gambling group reported a loss before tax of € 35.7m for the first half of the year. Total revenue dropped by 3% to € 398m.
August 31, 2011
Strabag Posts Positive Semi-Annual Earnings for the First Time
The Austrian construction company recorded outstanding results in the first half of the year. Output volume grew by 17%, EBIT improved from € -10.36m to € 16.67m.
August 31, 2011
Novomatic Continues on Growth Course
The Austrian gaming machine manufacturer achieved a plus in revenue of 17% in the first half of the year. EBIT remained stable at € 108.6m.
August 30, 2011
RZB Reports Significant Increase in Profit
Profit before tax for the period up 60.5% to € 877m, with consolidated profit increasing 21.5% to € 488m. Net allocations to impairment loss provisioning were reduced by 32%.
August 30, 2011
Strong Growth in Industrial and Construction Turnover
Positive production trends in industry and construction in May 2011; total turnover up 18.7%. Automotive industry and engineering are dominant factors.
August 30, 2011
Slight Increase in Construction Output
Austrian output of construction of buildings and civil engineering increased by 1.9% in the period from January to May 2011. Volume of orders grew 7.9%.
August 30, 2011
C.A.T. oil: EBIT Burdened by Higher Depreciation Expenses
The Lower-Austrian provider of oil and gas field services reported mixed results. Revenues increased by 24.4%, EBIT declined by 19.4% to € 10.0m.
August 30, 2011
Negative Result for Warimpex
The Austrian real estate company recorded a loss of € 3.2m in the first half of the year. EBIT fell from € 13.4m to € 7.6m.
August 30, 2011
S Immo: Earnings more than Doubled in the First Half of 2011
The Austrian real estate company recorded EBIT of € 51.3m, up 70.6% year-on-year. Net income doubled to € 10.1m.
August 29, 2011
Decline in Profit for Hypo Lower Austria
The Austrian regional bank achieved net profit of € 16.4m in the first six months of 2011. Net interest income increased to € 75.8m
August 29, 2011
OMV Affected by Sanctions against Syria
The Austrian oil and gas company does not have a local production but buys 7% of its oil supplies from the Arabic country.
August 29, 2011
Rapid Increase in Household Energy Prices
Austrian energy prices rose by 10.9% year-on-year. Diesel and gasoline were main drivers with a plus of 19.3% and 14.2%, respectively.
August 29, 2011
HTI Continues Positive Development in Second Quarter
The Austrian technological group recorded a plus in revenues of 7.1% in half-year comparison. The net result improved by € 3m to € 2.2m.
August 29, 2011
Uniqa: Solid Results despite Devaluation of Greek Bonds
Net profit of the Austrian insurance company increased by 6.8% to € 53m. Recurring premiums grew 5.3% in the first six months of the year.
August 29, 2011
ÖBB: “Cargo Business on the Right Track“
The Austrian Federal Railways’ CEO is satisfied with the development of the group’s cargo unit. RCA achieved a positive operating result in the first half of the year.
August 26, 2011
Frank Stronach to Apply for Casino Licenses
The Austro-Canadian founder of Magna and the German Gauselmann Group establish a company with the goal of entering the Austrian gambling market.
August 26, 2011
Rosenbauer: CEO Wagner Retires
The boss of the Austrian manufacturer of fire fighting vehicles draws the consequences from the company’s involvement in cartel agreements on the German market.
August 26, 2011
VBAG: Reduced Consolidated Net Income in First Half of Year
The Austrian bank recorded net income of € 1m. The result was negatively impacted by write-downs of Greek bonds.
August 25, 2011
EVN with Slightly Better Results after Nine Months
The Austrian energy company recorded a marginal drop in revenue. Group net profit amounted to € 207.2m, up 1.2% from the prior-year.
August 25, 2011
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