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Austrian Market Headlines and Analysis

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

CA Immo Well Prepared for Merger with Immofinanz

Listed property group CA Immo sees itself well prepared for the planned merger with bigger real estate firm Immofinanz and will sit down to outline the detail of the process in early September, CA Immo CEO Frank Nickel said.

August 26, 2016

Signa Buys "Forum Donaustadt” with ARE Development

Tyrolean property development company Signa and ARE Development, subsidiary of Bundesimmobiliengesellschaft (BIG) will together acquire the city development project "Forum Donaustadt" in Vienna. The deal is worth several hundred million. According to one branch expert, the deal could be worth about EUR 300 million (USD 338 million).

August 26, 2016

Heta Bad Bank Posts EUR 7.5 Bln Profit in H1 Thanks to Haircut for Creditors

Heta, the bad bank of defunct lender Hypo Alpe Adria, posted a positive standalone net result of EUR 7.5 billion (USD 8.5 billion) in H1 2016, thanks to the haircut for its creditors introduced by the financial market watchdog FMA, Heta said in a statement. On the consolidated level, Heta booked EUR 6.94 billion profit (according to the IFRS).

August 26, 2016

Uniqa Insurance Net Profit Sinks 42.2 Pct Y/Y to EUR 90.3 Mln in H1

Listed insurance group Uniqa enjoyed a good H1 in operating terms, but pretax profit sunk by 44.3 percent y/y to EUR 106.2 million, the company said in a report. Pretax result was burdened by the low interest rates and the launched investments.

August 25, 2016

Vienna Insurance Finalizes Purchase of BTA Baltic

The listed Vienna Insurance Group (VIG) has finalized the purchase of a majority stake in BTA Baltic Insurance Company AAS (BTA Baltic) with headquarters in Latvia and branches in Lithuania and Estonia.

August 25, 2016

Conwert EBIT Up 137.4 Percent Y/Y

Listed property developer Conwert reports that in H1 2016 it generated EBIT of EUR 146 million (up 137.4 percent y/y) and a revenue of EUR 264.3 million (up 26 percent). The company managed to boost its performance thanks to optimising the property portfolio, the structure and costs.

August 24, 2016

C.A.T. Vs. CAT (Caterpillar)

Listed Austrian oilfield equipment maker C.A.T. oil AG was renamed officially to Petro Welt Technologies AG. The cause for this step was an ongoing dispute with U.S. construction machine maker Caterpillar Inc (CAT) due to the name rights.

August 24, 2016

Dunkin’ Donuts Struggling in Austria

US bakery and coffee shop chain Dunkin’ Donuts wants to continue operation in Austria. The creditors of the insolvent firm agreed to a reorganization plan.

August 24, 2016

Write-Offs Drag Down Novomatic’s Profits in H1

The Lower-Austrian gambling group Novomatic, which is planning to take control over the partially state-owned Casinos Austria, raised its sales again in the first half of the year. However, on the operating level the company earned less due to non-planned write-offs.

August 24, 2016