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Austrian Market Headlines and Analysis

Austria’s Business Community Welcomes Van der Bellen

Austria’s economic chamber head Christoph Leitl congratulated Alexander van der Bellen on the latter’s election victory. Leitl stressed Austria’s business sector was ready to cooperate. Also Industrialists Association (Industriellenvereinigung) head Georg Kapsch cheered on the new President, adding that the industrial sector wished the new President good luck.

May 24, 2016

Bet-at-Home Approves EUR 4.50 Share Dividend for 2015

The shareholder meeting of sport bets operator bet-at-home has approved the EUR 4.50 (USD 5.07)/share dividend for 2015 and a capital hike using the company’s own assets. The number of listed shares will double. The management board announced a special dividend of EUR 10-15 per share for 2016.

May 19, 2016

Peter Löscher to Become Chairman of OMV

Former Siemens CEO Peter Löscher (58) has become new chair of the supervisory board of partially state-owned oil and gas group OMV.

May 19, 2016

Novomatic Awaits Approval of Australian Rival for Planned Takeover

Gambling group Novomatic is yet awaiting the approval of Australian rival Ainsworth GM for the planned takeover of 52.5 percent stake. The meeting is scheduled for June 3. At least 50 percent of minority shareholders of Ainsworth need to agree to the proposed deal assuming the price AUD 2.75 per share and a total value of AUD 500 million (EUR 323 million). The management previously expressed its support for the takeover, but analysts and minority shareholders were critical.

May 13, 2016

Lufthansa Settles Dispute with former AUA Shareholders

Seven years after the takeover of Austrian Airlines (AUA) by Lufthansa, the holding company made amends with the last of the old shareholders. Both parties involved in the long-running dispute had taken big strides to enable a settlement, it was alleged. Now AUA’s holding company will make an additional payment of EUR 3.30 + interest per share to the former shareholders.

May 11, 2016

AT&S Electronics Reports Mixed Results Because of New Plant in Chongqing

The listed Styrian circuit board producer AT&S has reported mixed results for the financial year 2015/16 due to the launch of its new plant in Chongqing. Sales increased by 14.4 percent to EUR 762.9 million. At the same time EBIT slumped 14.6 percent to EUR 77 million - AT&S announced. Group result decreased from EUR 69.3 million to EUR 56 million (USD 63.8 million).

May 10, 2016

Harald Mahrer Pans Planned Abolition of EUR 500 Banknote

Austria’s State Secretary at the Federal Ministry of Science, Research and Economics Harald Mahrer (Austrian People’s Party) pans the planned abolition of the EUR 500 banknote, agreed by the ECB council. The originators of the plan say it is an important step in the fight against money-laundering, corruption and terrorism, but, as central bank OeNB’s director Kurt Pribil explained on Wednesday evening, there is no evidence that the abolition of the 500-banknote can reduce those crimes.

May 6, 2016

Split-Off of UniCredit's CEE Unit from Bank Austria is Nearing

The split-off of eastern European bank business from UniCredit subsidiary Bank Austria, and its transition to Milan, is nearing. Bank Austria’s management board already agreed to the step; now an auditor has to evaluate the measure and then the supervisory board is to decide. The plan is to be filed with the court in June.

May 6, 2016

Bawag Laying Off Further 180 to 200 Employees

Bawag Bank will optimize its branches and in course of the process will cut 180 to 200 jobs. 70 to 80 of the affected employees are supposed to be sent back to their actual employers - Post AG.

May 3, 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