Monday
Bar a couple of more important news in the evening, the week started
slowly for Austria's business world. In the morning fibre specialist
Lenzing announced that it would intensify its collaboration with
paper group Sappi, based in South Africa. Austrian bank BAWAG PSK and
insurer Generali revealed on Monday their decision to prolong their
cooperation until at least 2023. The current exclusive partnership
expires in 2017.
In the evening austriamicrosystems, which is listed in Zurich, published its first-half financial figures. Due to considerable growth in demand, EBIT soared to EUR 39.6m from EUR 15.8m a year earlier, while revenue grew 65% to EUR 186.8m. The firm sees its revenue for 2012 up by about 40% compared with last year.
After the closing bell of the stock exchange, it became clear that the recently launched mandatory takeover offer of Cross for motorcycle producer KTM and auto-parts supplier Pankl is facing a little interest. Thus, the offer was prolonged by three months until October 23.
In the evening austriamicrosystems, which is listed in Zurich, published its first-half financial figures. Due to considerable growth in demand, EBIT soared to EUR 39.6m from EUR 15.8m a year earlier, while revenue grew 65% to EUR 186.8m. The firm sees its revenue for 2012 up by about 40% compared with last year.
After the closing bell of the stock exchange, it became clear that the recently launched mandatory takeover offer of Cross for motorcycle producer KTM and auto-parts supplier Pankl is facing a little interest. Thus, the offer was prolonged by three months until October 23.
Tuesday
The financial-figures report of printed circuit board maker AT&S led
the news on Tuesday. The Styria-based firm revealed a net profit of EUR
0.52m for the first quarter of 2012/13, compared with EUR 2.06m a year
earlier. Sales, however, grew 14% to EUR 126.03m. The quarter was
affected by events in the Mobile Device segment, the firm said.
Bad news for the workers of collapsed German catalogue retailer Neckermann. The company decided to lay off all its 300 employees in Graz. Last but not least, credit agency Moody's has confirmed its triple-A rating on the bonds of Erste Group - one of the leading banks in Austria.
Bad news for the workers of collapsed German catalogue retailer Neckermann. The company decided to lay off all its 300 employees in Graz. Last but not least, credit agency Moody's has confirmed its triple-A rating on the bonds of Erste Group - one of the leading banks in Austria.
Wednesday
On Wednesday it was top power utility Verbund, which revealed its
financial figures in the morning. The company benefited from the good
water supply in Austria and reported a 12.4% increase in net profit to
EUR 198.2m in the first half of 2012. Revenues grew 7% to EUR 1.563bn.
For full 2012 Verbund projects an operating profit of about EUR 800m and
net profit of EUR 350m.
In the evening leading construction company Strabag announced that it won't be able to reach its target of EUR 300m in EBIT for 2012 and expects to achieve only two-thirds of the aim. The reduction was due to delay of public projects in CEE, especially in Poland.
In addition, Oberbank revealed two bond initiatives via which it will raise up to EUR 130m. Throughout the day, Erste Group said it had boosted its stake in real estate developer Immo AG to more than 10%.
In the evening leading construction company Strabag announced that it won't be able to reach its target of EUR 300m in EBIT for 2012 and expects to achieve only two-thirds of the aim. The reduction was due to delay of public projects in CEE, especially in Poland.
In addition, Oberbank revealed two bond initiatives via which it will raise up to EUR 130m. Throughout the day, Erste Group said it had boosted its stake in real estate developer Immo AG to more than 10%.
Thursday
Thursday was slow on news with only refractory material maker RHI and
construction group Strabag announcing something of an importance. RHI
said it had raised EUR 130m via the issue of bonded loans (or
Schuldscheindarlehen). The proceeds will be used for securing the
company's liquidity. Strabag confirmed on Thursday that it is
withdrawing from a contract for the construction of a bridge in Croatia
worth EUR 20m. The move was due to the lack of a "notice of commence".
Friday
On Friday the Austrian Competition Watchdog approved the increase stake of Mexican billionaire Carlos Slim in Telekom Austria. America Movil, a company of Slim, holds 9.89% in Telekom Austria and will raise its shareholding to 25.9% with the buy of the shares of Austrian investor Ronny Pecik.
Schlumberger, Austria's top producer of champagne, is reportedly planning to bundle all its production in Lower Austria. Thus, the site in Vienna will cater only for administration, daily Der Standard reported.
On Friday catering specialist Do&Co announced it had won a new order from British Airways. The Austrian company will serve meals on all London - New York flights.
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