Austria's top economic news - March 21

Pankl Racing Systems AG reported a net profit of EUR 2.82m and EBIT of EUR 3.88m for its extended fiscal 2009/10. The company will adjust its fiscal year to the calender one. Sales came in at EUR 109.2m for the 15 months to December 31, 2010. CEO Wolfgang Plasser said that the first signs of recovery in the racing and aerospace divisions are already being registered. Sales are projected to grow between 5% and 10% for 2011.
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Hitzinger, part of HTI High Tech Industries, announced EUR6m worth of orders for interruption-proof energy systems, as well as EUR2m orders for emergency power supply devices.
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Duro Dakovic TEP, the Croatian subsidiary of insolvent A-Tec/AE&E, was sold to Russian EMAlliance, a spokesman for A-Tec's creditors confirmed media reports. No financial details were given.
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Refractory material maker RHI confirmed its preliminary financial results for 2010. The company's shareholders will receive EUR 0.50 as dividend per share.

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Telekom Austria said it has proposed between EUR 800m and EUR 950m for the takeover of 51% in Telekom Srbija. The final offer will depend on the company's talks with the Serbian government. The latter has so far demanded at least EUR 1.4bn for the stake.
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The Tokyo branch of motorcycle producer KTM said it decided to relaunch operations after the devastating earthquake in the country some ten days ago.
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The number of used motor vehicles registrations in Austria increased 15% year-on-year to 70,568 in February, Statistik Austria said.