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Austrian Market Headlines and Analysis

Schelhammer Not to Sell Casinos Stake After All

Former church bank Schelhammer & Schattera no longer wants to sell of its stake in Casinos Austria, it follows from a statement of managing board member Gerd Stöcklmair made to daily Krone. He noted the bank was observing the market, but had not plans for change in 2016. The bank holds directly and indirectly 9.86 percent of Casinos Austria.

Yesterday

Erste Group Set to Sign Hungarian Deal by Mid-June

Listed bank Erste Group wants to sign the deal on the planned acquisition of a stake in its Hungarian unit by the state of Hungary by June 14, CEO Andreas Treichl told a teleconference on Wednesday as reported by Reuters news agency.

Yesterday

UniCredit Bank Austria sold plot for Viennese DC Tower 2

The owner of Viennese property developer Wiener Entwicklungsgesellschaft für den Donauraum GmbH (WED), UniCredit Bank Austria, has sold the plot for Donau City Tower 2 skyscraper. The buyer is one of the biggest real estate funds of Germany HausInvest of Commerz Real. The price of the deal and details have not been disclosed.

Yesterday

OMV About to Relaunch Activities in Iran, NIOC Agreement Ready

After the suspension of sanctions imposed on Iran by the West, Austria’s oil and gas group OMV is busy with the relaunch of activities in that country which the Austrians find particularly promising. OMV signed a Memorandum of Understanding (MoU) with its Iranian peer NIOC in Teheran.

Yesterday

Erste Group Surprises with EUR 274.7 Mln Net Profit in Q1

Blue-chip bank Erste Group posted EUR 274.8 million (USD 315.4 million) in Q1 net profit, up by 22 percent y/y and above market expectations for a slight annual decline, the company said in a report.

Yesterday

22k Households Change Energy Provider in 2016 Campaign of Consumer Association

22k Austrian households switched to another electricity and/or natural gas provider in this year's campaign of consumer association VKI, a clear increase on some 12.5k in 2015.

May 3, 2016

Cross Industries Automotive Unit WP Will Be Delisted on June 10

Listed automotive firm Cross Industries' unit WP will be delisted on June 10. Delisting of WP, floated last year on the Vienna Stock Exchange, was long pre-announced.

May 3, 2016

Bet-at-Home Raises Q1 Revenues, but Earnings Fall

Sport bets provider bet-at-home raised gross betting income by 6.4 percent to EUR 30.3 million (USD 34.8 million) in Q1 2016, but operating profit fell to EUR 7.3 million from EUR 9.3 million a year earlier, the company said.

May 3, 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

EVVA and Umdasch to Invest EUR 2.5 Million in Whatchado

Austrian startup Whatchado which helps post job applications using short video, has received funding to the tune of EUR 2.5 million from the companies Evva and Umdasch. The vocational orientation platform has already helped connect prospective employees with 200 employers via 5,000 individual interviews.

May 3, 2016