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Austrian Market Headlines and Analysis

BIG Federal Property Managing Company's Sales Increased Slightly

Rental income and sales proceeds of federal property managing company Bundesimmobiliengesellschaft (BIG) jumped up in H1 2016 y/y. The market value of real estates climbed to over EUR 11.2 billion (USD 12.5 billion), compared to EUR 11 billion at the end of 2015, and BIG saw the rentable floor space remain at 7 million square meters.

August 31, 2016

Buwog Increases Development Pipeline to Boost Earnings in Coming Years

Listed residential real estate group Buwog plans to boost earnings growth in the coming years by the construction of thousands of new apartments, including those for rent, the company's representatives said.

August 31, 2016

Wolford Cuts Annual Outlook on Weak Q1 Developments

Listed lingerie producer Wolford may see a "low single-digit” operating loss this year, the company said in a downward revision of the annual guidance, due to the weakening demand. In the whole 2016/17, revenues will likely stagnate or decline slightly, the management expects.

August 31, 2016

Cartel Court Prohibits Novomatic Gambling's Takeover of Casinos Austria

Gambling group Novomatic saw its plans to take over listed casinos operator Casinos Austria crossed by the decision of the cartel court. The court prohibited the planned merger which it believes would limit competition, Novomatic said in a press statement.

August 30, 2016

Austrian Banks Benefit from Rebound in CEE - S&P

Austrian banks are benefiting from the economic rebound in CEE, ratings agency S&P said in the latest report pointing to GDP growth rates projected for the region this year.

August 30, 2016

Spar Retailer Eyeing at least EUR 70 Mln Revenues from Zielpunkt Stores

The takeover of 28 stores of bankrupt rival Zielpunkt should add at least EUR 70 million (USD 78.2 million) to retail giant Spar top line, Spar CEO Hans Reisch told journalists.

August 30, 2016

Kapsch Extends Czech Toll System Contract until New Tender is Called

After a long tug-of-war the Czech government agreed to extend Kapsch TrafficCom’s contract for the toll system operation in the Czech Republic after all, by three years. The existing contract expires by the end of this year. The government in Prague has not managed to organize a tender in time, due to various delays.

August 29, 2016

Porr Seen Netting Attributable Net Profit of EUR 23.4 Mln in Q2

Listed builder Porr will likely post EUR 23.4 million (USD 26.2 million) attributable net profit in Q2 2016, up by 9 percent y/y, predict analysts ahead of the release of the financial statement slated for Tuesday.

August 29, 2016

Polish PZU Wants to Buy from both Italians and Austrians

According to polish Dziennik Gazeta Prawna daily, the negotiations between PZU insurance company and Italy's UniCredit, concerning the purchase of shares of Bank Pekao, should be concluded by the end of October. PZU is also said to be interested in the purchase of Raiffeisen Polbank from Austria's Raiffeisen Bank International. As the daily reports, PZU could form a consortium with PKO BP to negotiate with RBI.

August 29, 2016

Cable Lift Producer Doppelmayr Builds First Lift in Macao

The Vorarlberg-based cable lift producer Doppelmayr has built its first facility in Macao. The circular lift gives the visitors a view of the fountains and brings them to a casino and a hotel the company said. The value of the investment hasn't been revealed.

August 26, 2016