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Austrian Retail and Consumer Headlines

Novomatic Reaches EUR 2-Billion Revenue

Lower Austrian gambling group Novomatic saw its revenue hike 5.5 percent in 2015, to over EUR 2 billion (USD 2.276 billion). The net profit, however, fell by a fifth to EUR 220.7 million, while EBIT slipped 10 percent y/y to EUR 325.4 million.

April 29, 2016

Fielmann Continues Expansion in Austria

Germany’s biggest optician chain Fielmann wants to push forward its expansion in Austria and Northern Italy. Following the successful opening of the first branch in Bolzano, further branches in Merano and Bressanone are planned, head of the management, Günther Fielmann said in Hamburg.

April 29, 2016

Snowfalls - Up to EUR 150 Million Frost Damage in Burgenland

Sub-zero temperatures over the several past nights have caused enormous frost damages in Burgenland, according to the Chamber of Agriculture. According to estimates, losses may reach up to EUR 150 million. The association of wine growers expects losses amounting to more than EUR 100 million (USD 113.5 million) in vineyards alone.

April 29, 2016

Backaldrin to Build New Factory in Russia

Upper Austrian baking ingredient maker Backaldrin, producer of flagship pastry Kornspitz, is going to expand in Russia by building a new factory in the new industrial park Novoe Stupin, some 75 km off Moscow.

April 26, 2016

Former Monopolist Austria Tabak to Enter E-Cigarette Market

Tobacco group Austria Tabak will enter the e-cigarette market and launch the sales on April 27 in a reaction to "evolving consumer needs”. Austria's e-cigarette market is expected to grow by 50 percent in 2016 from the current value of EUR 15-20 million.

April 22, 2016

Austria Paves Way for EU Basic Bank Account

Austria took a step closer to the introduction of basic bank account as the consumer protection committee passed the bill on consumer account (VZKG), preparing the legal foundations. The draft bill is an implementation of the EU guidelines.

April 22, 2016

Football: Intersport Reimburses Costs in Case of European Cup Win

A sensational success of Austria’s football team during the European Championship in France would also benefit Austria’s sportswear retailer cooperative Intersport. That is why Intersport has launched an unusual advertising deal. It plans to reimburse the purchase price of team sport articles bought by 10 June in the case of a historic victory of the Austrian team.

April 22, 2016

Investor Benko's Retailer Karstadt Improves Operating Result

Department store firm Karstadt, a German unit of Austrian investor Rene Benko (Signa Holding) enjoyed a continuation of positive trends after improving the operating result by EUR 62 million (USD 70.2 million) in FY 2014/15, a director Miguel Müllenbach told the daily Die Welt. As of end-March, operating profit could be raised again, by EUR 30 million y/y, he said

April 20, 2016

OMV Takes Over Friesacher’s Petrol Stations

OMV’s purchase of 66 "Hofer” petrol stations from Markus Friesacher announced in December and approved by the antitrust authorities in January this year will be finalized by the end of April. This way OMV’s discount petrol station chain will be expanded to a total of 207 branches. The mineral oil company already operates 141 "Avanti” stations. This means that the discount chain will be almost as big as the premium chain OMV, which has 209 branches.

April 19, 2016

Signa Still Focuses on City Centre, Criticizes Sunday Closing

Signa group of Rene Benko is still focusing in its property investments on city centres and wants to develop primarily combined retail/gastronomy outlets. The "Golden Quarter” of Kärntner Straße, Graben and Kohlmarkt in Vienna developed by Signa is going very well this is the place where a quarter of Austria’s retail trade turnover is concentrated CEO of Signa, Christoph Stadlhuber remarked.

April 19, 2016