Telekom Austria - Analysts Predict Return to Black

Austrian analysts expect that the annual financial report of Telekom Austria, to be published tomorrow, will show positive results. For 2014 losses were recorded. Again sales should have remained stable. The average sales figure for 2015 predicted by the analysts from Barclays, Credit Suisse, Erste Group and Raiffeisen Centrobank (RCB) is EUR 3.99 billion. This would mean a 1 percent drop, compared to 2014.

February 8, 2016

Austrian Economy Seen Growing 1.7 Pct in 2016, 1.6 Pct in 2017

The Austrian economy will likely grow by 1.7 percent in 2016 and by 1.6 percent in 2017, the European Commission said in the winter projection, revising the previous forecasts for 1.5 and 1.4 percent growth, respectively.

February 4, 2016

Rainer Seele: OMV Sees No Need for Further Impairments

Listed oil and gas giant OMV expects no need for further impairments after writing off billions in Q3 and Q4 2015, provided that the scenario assuming USD 40 Brent price ber barell in 2016 materializes, CEO Rainer Seele said.

January 29, 2016

Austrian Real Estate Prices Seen Without Major Rise in 2016

Austria's real estate market is unlikely to see a significant increase in prices in 2016 after the prices have stabilized on a high level, real estate segment association OVI head Andreas Wollein told journalists.

January 12, 2016

Moody’s Expects Still Dampened Growth in Austria

Rating agency Moody’s expects still dampened development of economic growth in Austria. According to the agency’s report published on Friday, growth should amount to an average of 1.2 percent till 2019. The biggest challenge for the government will be reducing public debt.

December 18, 2015

Voestalpine Cuts Back Revenue Target for 2020 to EUR 15 Billion

Listed Austrian steel group Voestalpine has revised its strategic revenue target for 2020 from EUR 20 billion (USD 22 billion) to EUR 15 billion. This is due to the continuously critical global economic framework conditions. The company explained in a statement, that the sales proceeds amounted recently to EUR 11.2 billion. The profitability of the firm has not been affected by the market conditions much.

December 17, 2015

Spar Retailer Eyes Y/Y Increase in Hungarian Turnover in 2016

Austrian retail giant Spar expects turnover from its Hungarian operations to continue to rise in 2016 after the growth to HUF 490 billion (EUR 1.55 billion/USD 1.7 billion) planned for this year, spokesman Mark Maczelka told Hungarian news agency MTI. He did not give further details.

December 16, 2015

UniCredit Final Restructuring Program on Bank Austria's Retail Business

UniCredit announced a major step in its strategic plan execution, by launching a profound restructuring program on its Austrian retail business that will enable Bank Austria to develop its business in a sustainable way, while bringing down significantly its cost income ratio. The restructuring plan will allow to reduce by 2018 Bank Austria's overall costs by € 150mn per year on an ongoing basis on top of the Strategic Plan and with main focus on personnel expenses, leading to an overall cost decrease by almost € 300mn versus 2014 in order to ensure the business sustainability in the long-run.

December 15, 2015

EVN Power Expects Stable Group Result in FY2015/16

Listed power company EVN expects to post a generally stable group result in the new business year 2015/16, based on the assumption of average framework conditions in the sector, the company said on the occasion of publication of FY2014/15 report. But this guidance comes with a caveat that the result could be "significantly influenced” by the development of the current process of deciding on the tariffs in Bulgaria, developments regarding the Duisburg-Walsum plant or the progress of the activities in Moscow.

December 10, 2015

Austrian Economy Seen Growing 0.7 Pct in 2015

The Austrian economy will likely grow by 0.7 percent y/y in 2015, central bank OeNB said maintaining its June forecast.

December 9, 2015