Austrian economic news in a flash - December 17

Regional utility Bewag closed fiscal 2009/10 with a loss from ordinary operations of EUR 10.9m, up from EUR 7.5m a year earlier. The result was burdened by the cross-border leasing operations carried out in 2001.
*
Top Story
Lingerie maker Wolford said its sales rose 8.1% to EUR 74m in the first half of fiscal 2010/11, boosted especially by the company's own retail sales. The net profit grew to EUR 1.9m from EUR 0.8m a year earlier. The management expects an improvement in sales and earnings by the end of the fiscal year. Distribution efforts in Asia, and especially in China, will be strengthened.
*
Austria's investor Unternehmens Invest AG (UIAG) posted a profit of EUR 3.7m for fiscal 2009/10, down 5% in annual terms. Loss from ordinary operations was reduced to EUR 60,000 from EUR 330,000. The sales of the stakes in Austria Email AG and Varioform PET Verpackung were characterised as positive during the year.

*
Builder Strabag is part of a consortium which has won the EUR 104m construction of a motorway in Libya. Strabag will get EUR 62m of the total order.
*
Top Story
Wifo and IHS said they expect Austria's gross domestic product (GDP) to rise 2% and 2.1% next year, respectively. For 2010 Wifo sees growth of 2%, while IHS projects 1.9%. For 2012 the projections stand at 2% and 2.3%, respectively. The institutes expect the biggest problems to come from some debt-ridden countries in the euro-zone.
*
Top Story
The creditors of A-Tec has demanded EUR 750m in liabilities from the industrial holding, Hans-Georg Kantner, spokesman for the creditors, told the local news agency. Some EUR 200m of the sum is unconditional.

*
Top Story
Telekom Austria said it plans to raise the dividend threshold to at least EUR 0.76 for 2011 and 2012 from EUR 0.75 so far. Sales and EBITDA in 2011 are expected to be slightly less than the last few years. The company plans EUR 1.5bn in investments in Austria for 2010 to 2013.
*
Troubled bank OeVAG has not sold real estate unit Europolis to the highest bidder, Kurier reported. According to the daily, Polish investor Jan Kulczyk had filed a considerably better proposal than that of the winner in the transaction - CA Immo. The bank rejected the accusations. 

*
Austria's cereal production fell 6.5% to 4.5m tonnes in 2010, Statistics Austria said. Compared to the last ten-year average, the production went down 1%.