Christmas Season - Mail Order Business in Austria Booming

If the expectations of the mail order sector come true, there will be a literal flood of parcels this year before Christmas. "We expect in Christmas season this year sales growth of 15 percent” the head of Unito group (Otto, Universal, Quelle, etc.), Harald Gutschi told journalists on Tuesday. The terror attacks in Paris have additionally raised online orders.

November 24, 2015

Conwert: Analysts Expect Profits for 9 Months

Experts from Erste Group, Baader Bank and Kepler Cheuvreux expect that in the first nine months of the year Conwert managed to turn to profits from losses in the same period of last year. On average a net profit after minorities of EUR 45 million is expected. In the same period of last year the company recorded a EUR 23 million loss. Already in the first six months the property company managed to return to profits.

November 24, 2015

Austrian Industry Growth Remains Moderate in 2015

The Austrian industry has not registered a clear rebound so far and will have the fifth weak year in a row in 2015, in the long-term comparison, Bank Austria economists predict. Industrial output will likely increase by 2 percent on average this year, they said.

November 13, 2015

RBI Eyes 20-25 Pct Cost Cuts

Listed bank RBI, a unit of Raiffeisen group, sees the 20-25percent cost cuts target announced by RLB NÖ-Wien head and RZB supervisory board chair Erwin Hameseder a few weeks ago as absolutely in line with RBI own plans, RBI CEO Karl Sevelda said at a teleconference. The cost reduction programme will cost EUR 550 million.

November 13, 2015

RBI Expects Small Profit in Full 2015

Listed bank RBI updated its 2015 guidance and expects a "slightly positive consolidated result” in the full year, the bank said in a surprise statement, reversing former projection for a loss.

November 12, 2015

OeNB: Thanks to Refugee Accommodation Costs, GDP Forecasted to Grow

According to the Austrian central bank OeNB there are two factors which support economic revival towards the end of the year: spending on refugees and the tax reform. In Q4 2015 and in Q1 2016 the economy will grow by 0.1 percentage points thanks to refugee accommodation costs. The tax reform will contribute another 0.1 percentage point to the growth in Q1 2016.

November 12, 2015

Wifo Sees Still Difficult Environment for Austria

Austria is likely in for dampened economic development in the coming months, think tank Wifo said citing the results of the latest economic tests.

November 12, 2015

OECD: Austria’s GDP to Grow by 0.8% in 2015, 1.3% in 2016

Market growth in Austria is slowly gaining momentum, it follows from the latest forecast published by the Organisation for Economic Cooperation and Development (OECD). According to the organisation’s estimates Austria’s GDP is to grow 0.8 percent in 2015 and 1.3 percent in 2016 and 1.7 percent in 2017. The growth rate will depend heavily on exports.

November 9, 2015

Austria's GDP Seen Growing 0.6 Pct in 2015, 1.5 Pct in 2016 - EC Forecast

Austria's GDP will likely grow by 1.5 percent in 2016, the European Commission said in its autumn forecast. This means no change versus the previous projection of May 2015.

November 5, 2015

OMV Unit Borealis Headed for Record Earnings in 2015, Pledges Higher Dividend

Chemicals group Borealis, a unit of listed oil and gas group OMV and Abu Dhabi based fund IPIC, will offer a higher dividend than in the previous years from 2015 earnings than in the previous years, CEO Mark Garrett said. The exact amount of the payout is yet to be decided upon.

November 4, 2015