Austrian Corporate & Econ News - 21 - 27 Jan

Monday

Real estate company Conwert has completed the buy of 60% in Hamburg-based Kommunale Wohnen AG (KWG). Thus the German portfolio of Conwert will be boosted by two thirds to 24,500 units. The purchase price will be paid in cash and in shares.
Circuit board producer AT&S Austria Technologie & Systemtechnik AG ended the first three quarters of its fiscal year with a net profit of EUR 5.4m, down from EUR 21.9m a year earlier. Sales rose to EUR 405.1m from EUR 371.8m due to improved capacity utilisation at the HDI-plant in Shanghai.

Tuesday

AT&S Austria Technologie & Systemtechnik AG announced it will invest EUR 350m in a new business field - IC substrates. The production, in collaboration with a partner, will be launched in China.
Austrian C.A.T. oil revealed new orders from Russia. Subsidiary CATObneft boosted an existing order with EUR 38m to EUR 65m and received a new one worth EUR 63m for sidetrack drilling.

Wednesday

Fibre producer Lenzing reviews the possible sale of its Plastics division. The company's CEO Peter Untersberger said that the deal is not an urgent divestment.
Refractory material maker RHI said the technical defect which occurred during the start-up of a new fusion plant in Norway in November will result in a lower EBIT margin for the first quarter of 2013 than a year earlier. However, the firm confirmed its 2013 forecast.
Update Software closed 2012 with an EBIT loss of EUR 1m, compared with a profit of EUR 0.1m for 2011. Sales went up 4% to EUR 33m. For 2013 the company targets an EBIT-margin of about 2% and sales growth of 10% to 15%.

Thursday

Vienna Insurance Group ended 2012 with a pre-tax profit rise of 5% to EUR 585m. The premium income grew 9.5% to EUR 9.9bn. The insurer said it will retain its dividend policy.
Telekom Austria (TA) announced on Thursday the issue of a new hybrid bond. According to financial sources, the volume stands at several EUR 100m.
Real estate developer Warimpex Finanz- und Beteiligungs AG announced it had completed the construction of the Le Palais office building in Warsaw. Over 75% of the 5,300 sq m of the building were rented out.

Friday

Telekom Austria revealed on Friday the volume of its hybrid bond, which stood at EUR 600m. With the proceeds the company wants to finance the takeover of discounter Yesss!. The bond, with no set maturity, will bear an annual coupon of 5.625%.