Austria's top economic news - February 21

Fibre producer Lenzing said its sales grew 45% to EUR 1.77bn in 2010, while the net profit soared to EUR 159.1m from EUR 64.4m. The company plans to distribute 25% of the profit as dividend. Lenzing projects a 15% to 20% growth in sales for 2011, as well as a further improvement in its margins. Production is seen growing by about 10%.
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Pankl Racing Systems AG said it booked sales of EUR 109.18m in its extended fiscal 2009/10. As the company is adjusting its fiscal year to the calender one, no concrete comparisons can be made. The operating profit stood at EUR 3.88m. The company projects an increase of 5% to 10% in sales in 2011, as well as a stabilisation of its aerospace business.
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Builder Strabag said its construction output decreased 1.9% to EUR 12.777bn in 2010, missing its EUR 12.9bn target. For 2011 the company projects an increase of 5% to EUR 13.5bn in the output, as well as EBIT of EUR 280m.
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Intercell announced the launch of a paediatric Phase II/III study in India for the vaccine to protect children from Japanese Encephalitis. The vaccine will be produced by local partner Biological E, based on Intercell's technology.
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Sanochemia Pharmazeutika AG said it plans to raise its capital in the first quarter of 2011. Further details will be announced at a later stage.
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OMV confirmed that it has agreed with Gazprom to set up a joint venture for the construction of the Austrian part of the South Stream gas pipeline. The report for the project's feasibility will be worked out by the end of the first quarter.

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Petrus Advisers, a core shareholder in real estate company Conwert, has bought out the 7% stake in the company held by the so-called management syndicate. Thus the syndicate, which was massively criticised by some of the shareholders in the past, has been dissolved.

*The number of registrations of used vehicles in Austria rose 9.9% on the year to 62,895 in January, Statistik Austria said. On a monthly comparison, the increase was 2.8%.