Austria's top economic news - March 24

Vienna Airport said its 2010 sales rose 6.4% to EUR 533.8m, while EBIT increased 2.8% to EUR 102.3m. The company's net profit went up 3.2% to EUR 75.7m. Vienna Airport will propose a dividend of EUR 2 for 2010, down from EUR 2.10 for 2009. For 2011 a passenger volume increase of 5% is projected. The long-term target by 2020 is set at 4.2% annual growth.
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Real estate company Immofinanz has filed a suit demanding EUR 11.4m as compensation from Karl Petrikovics, Norbert Gertner and Helmut Schwage, former executives and supervisors of Constantia Privatbank and the company itself. The three are accused of enrichment via dubious option deals which have burdened the Privatbank's subsidiaries.

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BWT said it owns 5.6% of its shares as treasury stock. As a whole BWT controls about 1m of its shares.
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Technology group Andritz plans to distribute up to 1.046m shares at EUR 35.44 apiece to its management as part of a stock option plan, running by April 30, 2012. The shares correspond to about 2.01% of the stock capital.
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Brewery group Brau Union announced sales of EUR 506m for 2010. The company's profit remained stable compared to 2009. Sales volumes rose 1% to 4.65m hectolitres. Brau Union is to launch its 1.5 l PET bottles in Austria as of the next month.

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Leading utility Verbund expects to profit from the forthcoming early closure of nuclear plants in Germany as this will raise electricity prices. Every increase of the prices by EUR 1 will result into extra cash flow of EUR 25m in 2012, the company's CEO said.

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Austria Metall AG (AMAG) expects to start trading on the Vienna Stock Exchange on April 8. The issue volume will stand at between EUR 424m and EUR 535m.
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Hans Linz, the former AvW chief broker, executive and ex-DSV-Leoben president, was put under custody. Prosecutor Thomas Liensberger has filed a claim for damages of at least EUR 35m.
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Motorbike producer KTM Power Sports, which is adjusting its fiscal year to the calendar one, reported sales of EUR 591.4m for the 16 months ending December 2010. The EBIT came in at EUR 30m, while the company's net profit stood at EUR 14m.
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BWG, part of steel specialist Voestalpine, has agreed to buy 71% in Bremen-based Lasa Schienentechnik GmbH. The purchase price for the company, with annual sales of EUR 4m, was not disclosed.