Austria's top economic news - March 8

Fibre producer Lenzing said it plans to propose a dividend of EUR 1.55 per share for 2010, down from EUR 2 for 2009. The company also confirmed its preliminary financial results for 2010. Lenzing booked EBIT of EUR 231.9m and sales of EUR 1.77bn. The dividend payout will be adjusted to the investment and growth plans of the firm.
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Technology group Andritz said its EBIT rose 66.9% to EUR 245.5m for 2010. Sales grew 11.1% to EUR 3.55bn and net profit improved 85.5% to EUR 179.6m. The results came higher than the analysts' expectations. The company sees a friendly environment for its main activities in 2011. Andritz will propose a dividend of EUR 1.70, up from EUR 1 for 2009.
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Refractory material maker RHI said its net profit soared to EUR 105.7m for 2010 from EUR 21.4m for 2009. Sales grew 23% to EUR 1.52bn, while EBIT went up 73% to EUR 138.8m. The company will propose a dividend of EUR 0.50, the first payment in many years. RHI projects a sales increase of about 5% for 2011 boosted by its Industrial division.
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Real estate company Immofinanz said it plans to repurchase convertible bonds worth a total of EUR 466.4m, including accrued interest. The company will buy back its EUR 454.7m 2014 bond and its EUR 10.5m 2017 bond.
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Builder Porr envisages to withdraw from the Hungarian market, CEO Karl-Heinz Strauss told WirtschaftsBlatt. The Slovak activities will also be closely reviewed, while the company plans to speed up its business in Bulgaria once again. Austria's order backlog was full for 2011, the CEO added.

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Lenzing said it plans to launch a capital increase of about EUR 75m in the second quarter. The proceeds will be used for supporting the company's growth plans in Asia. Core shareholder B&C, which now owns 90.5% in Lenzing, will also offer shares for sale as part of the move.