Austrian economic news in a flash

(The most important economic news in Austria from 6 October)

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Technology group Andritz announced its financial targets for 2013/2014, saying it will target an EBITA margin of average 7% and sales of about EUR 4.5bn. If the targets are achieved, the company will boast earnings per share of EUR 4.15 in 2014, up from EUR 1.89 last year. The sales target was originally set for 2010/2011 but has to be postponed due to the outbreak of the economic crisis. The dividend payout ratio should be raised to about 60% from 50% currently.
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Refractory material maker RHI will need between EUR 400m and EUR 500m for funding of its growth inititiatives in the next four to five years, CEO Henning Jensen said. The company is still to decide on the way of financing and has set a sales target of EUR 2bn in the medium-term. The expansion plans are mainly for emerging markets and the BRIC countries.
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Utility EVN will seek to broaden its shareholder basis via the forthcoming capital increase and the retreat of German partner EnBW from the company. If the entire capital increase is fully exercised, the free float of the company may be raised to 40% from 14% currently, CEO Burkhard Hofer told a news conference in Vienna. The proceeds will be used for different projects, especially in renewables, and not for taking part in the capital increase of Verbund.
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Vienna's Commercial Court has entered into the trade register the squeeze-out of Constantia Packaging as of October 7. Now the firm is 100% under the ownership of Sulipo Beteiligungsverwaltung, part of US investor OEP. The shares of the company will cease trading in Vienna as of Thursday.
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Karl-Heinz Strauss, the newly-appointed CEO of builder Porr, envisages a restructuring of the company, which will include job cuts and a stronger focus on profit. Concrete decisions will be taken by the end of 2010, he told in an interview for Kurier.