Austrian Economic News - Week 30 April-6 May

Monday

Erste Group Bank said its net profit increased by 7.8% to EUR 346.5m in the first quarter of 2012. Results were however burdened by extra costs in Hungary and Romania, the bank said. Its capital ratio stood at 9.7% at the end of March.
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Pankl Racing Systems AG, a provider of car and aircraft parts, announced its net profit went up 19% to EUR 2.8m in the first three months of 2012. Sales rose 25% to EUR 36.5m. The company is optimistic for the future and expects further growth.
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C.A.T. oil said its net profit decreased to EUR 6.77m in the first quarter from EUR 19.47m a year earlier. Revenue grew by 23% to EUR 281m. In view of the high oil prices and oil demand, the firm is optimistic for 2012.
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IT services provider Plaut said its revenues went up 7% to EUR 5.7m in the first three months of the year. EBIT rose to EUR 250,000 from EUR 203,000.
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Expectedly, construction group Porr revealed a loss of EUR 72.2m for 2011, compared to a profit of EUR 16.7m a year earlier. The result was due to extraordinary expenditures in CEE. The management said that the company plans to soon raise fresh capital.
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Raiffeisen Bank Interantional (RBI) has completed the buy of Polish Polbank. The paid price stood at EUR 460m.
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Refractory material maker Rath said its net profit soared to EUR 2.29m in 2011 from EUR 0.19m in 2010. The company said it profited from the boom in the ceramics industry. Sales went up to EUR 81.68m from EUR 74.87m.
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Brewery Ottakringer announced it will keep its dividend for 2011 unchanged at EUR 1.54 per share.

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HTI High Tech Industries AG increased its 2011 sales by 7.2% to EUR 207m due to higher demand for cars. The firm's net loss was reduced by EUR 1.7m to EUR 2.2m. The company maintains a cautiously positive outlook for the current year.

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ATB Austria Antriebstechnik, former A-Tec subsidiary and now owned by Chinese Wolong group, ended 2011 with EBIT of EUR 45.2m, compared to a loss of EUR 88.2m for 2010. Revenues rose 9.7% to EUR 337.4m. The management expects sales growth of above 10% in 2012.
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The management of Austrian Airlines (AUA) and the works council of the company's onboard staff failed to reach an agreement over a possible new collective contract for the employees. Therefore the staff will be as planned transfer to subsidiary Tyrolean and its less generous pay conditions.

Tuesday

The number of unemployed in Austria grew by 6.6% in annual terms to 251,823 in April. Unemployment rate, under the country's own calculation method, stood at 6.8%. 

Wednesday

Indian Bajaj Auto International has raised its stake in Austrian motorcycle producer KTM Power Sports AG to 47.18%. Four years ago Bajaj Auto bought 14.5% in KTM.

Thursday

Austrian Airlines (AUA) reported an operating loss of EUR 67m for the first quarter of 2012. In comparison for full 2011 AUA booked a loss of about EUR 60m. AUA was burdened by high fuel costs and the aviation taxes in the country.

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Verbund, Austria's leading utility, reported a net profit of EUR 119.5m for the first three months of 2012, up 10.2% on the year. Revenues grew 18.6% to EUR 837.8m. The company profited from good water conditions and higher sales prices. Verbund did not provide financial outlook for full 2012.

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Real estate developer conwert plans to halve its core capital to EUR 426.8m. The move will be voted by the shareholders on May 31.

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Construction group Strabag will issue a EUR 100m corporate bond. The coupon will be set at 4.25%. The bond's maturity stands at seven years.

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Austrian Post announced it had signed a contract to buy Polish Kolportaz Rzetelny. In addition Post AG revealed an agreement to buy 26% in Bulgarian M&BM Express, with the option to acquire up to 76% in the future.

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Car parts supplier Miba said its sales went up 36% to EUR 592.6m in fiscal 2011/12. EBIT increased 23% to EUR 67m. Dividend will be raised to EUR 8 per share from EUR 7. Miba targets sales of EUR 750m by 2015.

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Agrana said it had launched the construction of a starch plant at its bioethanol site in Pischelsdorf. The volume of the investment stands at EUR 65m.

Friday

Machinery group Andritz said its net profit went up by 36.5% to EUR 50.5m in the first three months of the year. Sales increased 28.4% to EUR 1.186bn. The company expects growth for full 2012 in both sales and net profit.

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Aluminium group AMAG announced sales of EUR 207.7m for the first quarter, down 3%. Net profit went down 5% to EUR 18.7m. The company was burdened by a 9% average fall in aluminium prices.

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Steel specialist voestalpine revealed that its unit voestalpine Austria Draht GmbH acquired 54% in CPA Filament. The move aims expansion of the wire processing activities.
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US Century Casinos, listed in Vienna, said its net revenues grew 3% to USD 17.6m in the first three months of the year. Net profit soared to USD 1.1m from USD 400,000.