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Zumtobel Lights Turns to Profit in FY 2014/15, Plans Higher Dividend

Listed light company Zumtobel turned to profit in FY 2014/15 (ending at the end of April), netting EUR 11.9 million (USD 13.4 million), the company said in a report. In 2013/14, Zumtobel suffered a EUR 4.8 million net loss as restructuring costs affected the bottom line.

June 24, 2015

Austrian Economy to Rebound Properly in 2016

This year Austria’s economy is seen growing merely 0.5 or 0.7 percent, research agencies Wifo and IHS anticipate respectively. In 2016 the rate is seen improving considerably, rising by 1.3 percent (Wifo) or 1.8 percent (IHS forecast) of the GDP. The tax reform is expected to yield first positive effects in 2017 earliest, whereas this year it will cause a downsizing of investments.

June 18, 2015

RBI Eyes Profit in Russia in 2015, May Suffer Loss on Group Level

Listed bank RBI expects its Russian unit to close in the black this year, despite the crisis in the country, but a loss on the group level cannot be ruled out, CEO Karl Sevalda told a GM on Wednesday.

June 17, 2015

Nowotny: Financial Crisis Marked Beginning of Era of Small GDP Growth

The financial crisis that erupted in 2007 likely marked the beginning of an era of low economic growth rates, central bank OeNB governor Ewald Nowotny stated during the inauguration of the 43rd Economic Conference in Vienna on Monday. The latest economic forecast show no acceleration of growth, but rather a slow improvement of the situation.

June 15, 2015

OeNB Raises Austrian Growth Forecast for 2016

Oesterreichische Nationalbank (OeNB) published the growth forecast for 2015 and 2016. This year the growth rate is seen at 0.7 percent, whereas the prediction for next year has been increased to 1.9 percent, from earlier assessments of 1.6 percent. The central bank analysts expect a growth of 1.8 percent for 2017.

June 8, 2015

OECD: Growth in Austria to Remain Sluggish in 2015

OECD expects that economic growth in Austria this year will remain slow and that it will speed up in 2016. The growth forecast for 2015 has been reduced to 0.6 percent from 0.9 percent. For 2016 stronger growth is expected at 1.7 percent instead of 1.6 percent.

June 3, 2015

Strabag Builder Cuts Q1 Net Loss to EUR 116.5 Mln

Listed builder Strabag reduced its Q1 2015 net loss to EUR 116.5 million (USD 127.45 million) from EUR 132.0 million, the company said in a report out Friday. The result was better than the market consensus for EUR 122.0 million loss.

May 29, 2015

RBI Bank Still Eyes Full-Year Loss in 2015

Listed bank RBI is facing a loss in the whole 2015 in view of EUR 550 million restructuring costs, the bank said, confirming the annual guidance after the release of Q1 2015 financial statements. Net profit dropped by 42 percent y/y to EUR 100 million. The bank's net interest income fell by 16 percent y/y to EUR 820 million in Q1. Fee and commission income sank by EUR 16 million to EUR 360 million. Trading result was negative at EUR 62 million, due to the impact of FX effects.

May 21, 2015

Analyst Expect Higher Q1 Profit for Uniqa

Analysts of Erste Group, JPMorgan and Raiffeisen Centrobank (RCB) concur that listed insurer UNIQA which is to present Q1 figures on Friday, will report a considerable hike of net and pretax profits.

May 20, 2015

Analysts Predict Profit Slip for RBI in Q1

Raiffeisen Bank International (RBI), the listed bank arm of the Raiffeisen group, will publish Q1 results on Thursday. Analysts of Erste Group, Kepler Cheuvreux, UBS, Citigroup and JPMorgan agree in their rather negative forecast, as they unanimously expect net profit and pretax profit to decrease considerably. Credit risk provisioning are not expected to have increased y/y though.

May 20, 2015