Austria

Business, finance, investment and politics in Austria
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Erste Group Sold Over EUR 1.1 Billion Non-Performing Loans in 2014

In 2014 Erste Group got rid of major packages of non-performing loans. Over the year the bank sold EUR 1.1 billion (USD 1.25 billion) in non-performing loans (2013: EUR 0.7 billion). In the fourth-quarter alone EUR 575.2 million in non-performing loans were sold. The current volume amounts to EUR 10.9 billion.

February 27, 2015

AMAG Boosts Profit for 2014, Dividend to be Doubled

The listed Upper-Austrian aluminium producer AMAG raised its after-tax profit thanks to, above all, tax effects, by 6 percent to EUR 59.2 million. The dividend for shareholders is supposed to be doubled to EUR 1.20 per share the company announced.

February 27, 2015

T-Mobile Austria Doubled Operating Profit to EUR 64 Million

T-Mobile Austria has doubled its operating profit (EBIT) - adjusted by the costs of LTE frequency auction in 2013 - last year to EUR 64 million. Sales decreased by 1.6 percent to EUR 815 million. EBITDA increased by 9.9 percent to EUR 211 million (USD 240 million).

February 27, 2015

Austria Chocolate Market Grows to EUR 176 Million

Last year Austrians ate 21.2 million kilograms of chocolate. The whole market of slab chocolate increased by 3.5 percent to EUR 176 million (USD 200 million).

February 27, 2015

Ski Producer Fischer's Sales Down

Ski producer Fischer with headquarters in Ried im Innkreis recorded lower sales in the financial year 2014/15 (by the end of February). Revenues sank from EUR 181 million (USD 205.9 million) to EUR 160 million. The Russian market collapsed.

February 27, 2015

Andritz May Have to Pay EUR 8 Million Guarantee in Romania

The listed Styrian facilities builder Andritz has been confronted in Romania with a claim for EUR 8 million (USD 9.1 million) guarantee from the insolvent power plant operator Hidroelectrica. This was reported by "WirtschaftsBlatt” on Friday.

February 27, 2015

Austrian Economy Making No Headway

The Austrian economy didn't move forward at the end of last year. In the fourth quarter of last year GDP didn't change at all, compared to the previous quarter, for the second time in a row. However, it didn't also decrease, as some feared.

February 27, 2015

Goldman Sachs Raises Profit Forecasts for Erste Group

Securities experts from US investment bank Goldman Sachs have raised their profit forecasts for Erste Group.

February 27, 2015

EIB Granted Loans Worth EUR 1.5 Billion in Austria in 2014

In 2014 European Investment Bank (EIB) granted a total of EUR 1.5 billion in loans for projects in Austria. In 2013 the volume of granted loans reached EUR 2.4 billion (USD 2.73 billion).

February 26, 2015

180 Heta Employees Going to Hypo Group

The former Southeast European unit of Carinthian bank Hypo, Hypo Group Alpe Adria (HGAA), sold recently to US investment fund Advent will keep its head office in Klagenfurt. Heta Asset Resolution, the successor of Hypo Alpe Adria, declared on Thursday that 180 employees of Heta would transfer to the Klagenfurt-based Hypo Group.

February 26, 2015