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Austria and Russia Business and Diplomatic Relations

Strabag - Order Volume Down by EUR 1 Billion

Strabag’s profit in 2015 was based on a strong construction output in Slovakia, Poland, Czech Republic and Hungary. CFO Christian Harder summed the past year up as having been very good in eastern Europe, with only Russia being somewhat troublesome. The prospects are clouded slightly by a reduced backlog (down 9 percent or EUR 1.3 billion (USD 1.5 billion) to EUR 13 billion).

Yesterday

Warimpex Real Estate Suffers EUR 42.3 Million Loss in 2015.

Listed real estate developer and hotel operator Warimpex suffered a EUR 42.3 million (USD 47.9 million) net loss in 2015 as it had to book FX and revaluation impairments on weak Russian business, the company said.

April 28, 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

OMV Eyes Retaining Majority in North Sea Assets after Gazprom Deal

Listed oil and gas group OMV wants to retain the majority stake in its North Sea assets following the planned partnership with Russia's Gazprom, CEO Rainer Seele told the paper Industriemagazin.

April 25, 2016

DenizBank Vienna Raised Profit in 2015 by 25 Percent

Vienna-based DenizBank, owned by Sberbank group via Turkish DenizBank A.S., saw a massive profit increase y/y in 2015. The bank netted EUR 177.8 million (USD 202 million), up 25 percent y/y, whereas the balance sheet sum firmed from EUR 8.9 million to EUR 10.05 billion, the balance published in Official Gazette of Wiener Zeitung daily indicates.

April 22, 2016

Immofinanz Real Estate Takeover of CA Immo Seen "Very Positive” - SocGen

Listed real estate group Immofinanz's acquisition of a stake in peer CA Immo and the planned merger are viewed as "very positive for both parties” to the deal, Societe Generale analysts said.

April 20, 2016

Voestalpine Steel Wins another Pipe Deal for Nord Stream II Project

Listed steel and technology group Voestalpine secured another order for the Russia-Europe gas pipeline project Nord Stream II, the company said on its website.

April 19, 2016

Immofinanz Property to Sell/Spin-Off Russian Portfolio yet this Year

Listed real estate group Immofinanz plans to sell or spinoff its Russian property portfolio yet this year and will launch the process in H2, CEO Oliver Schumy told journalists.

April 18, 2016

Fischer in Moscow, Winks towards Russia

Federal President of Austria Heinz Fischer continues on his mission to open doors to other countries. Currently he is meeting with Russia’s President Vladimir Putin in Moscow. Austria understands itself as a nation unifying agent and hopes to benefit from the resuming of economic and political exchange, which has been severely restricted due to the Ukraine conflict and subsequent EU sanctions imposed on Russia.

April 6, 2016

Fischer's Visit to Moscow: Austria Loyal about EU Sanctions

Federal President Heinz Fischer, currently on an official visit in Moscow, has underscored in an interview that Austria was loyal to the EU about sanctions imposed on Russia. However, whoever wants to improve bilateral relations will not be too happy about sanctions, he added. In this way the Federal President relativized Russian media reports which implied that he allegedly spoke in favour of lifting sanctions for the annexation of the Crimea, which by the EU is deemed unlawful under international law.

April 6, 2016