Austrian Corporate & Econ News - 18-24 Feb

Monday

Real estate company Immofinanz has divested the Grand Hotel and Casino in Swiss ski resort St. Moritz to international investor. The sale price was not disclosed. The move is part of Immofinanz' decision to focus on its core markets.

Tuesday

Sanochemia Pharmazeutika AG said on Tuesday its turnover decreased to EUR 7.05m in the first quarter of fiscal 2012/13 from EUR 8.07m a year earlier. EBIT fell to EUR 214,000 from EUR 465,000. The company said its business development is stable and expects EUR 33m in turnover for the entire year.
Austrian crane maker Palfinger said it has decided to set up a joint venture with Italian Sky Aces for the production of small truck mounted platforms. Palfinger will control majority in the new firm.

Wednesday

Raiffeisen Bank International (RBI) said on Wednesday it slipped into the red with a net loss of EUR 117m for the fourth quarter of 2012, compared with a profit of EUR 222m a year earlier. The result was due to considerable credit risk provisions. For full 2012 the bank posted a net profit of EUR 725m, down by one fourth in annual terms.
Beko Holding reported that its net profit decreased by 22% to EUR 2.4m in the first quarter of fiscal 2012/13. Sales remained stable at EUR 13.7m. The company did not give any forecast for the entire year.
Fly Niki, a subsidiary of Air Berlin, announced it will fly two times per day from Vienna to Moscow from April 27. Currently the air carrier serves the route once a day.

Thursday

Oil and gas group OMV reported a turnover of EUR 42.649bn for 2012, am increase of one fourth compared with 2011. Net profit grew by 12.8% to EUR 1.79bn. The executive board has proposed a dividend of EUR 1.20 per share, up from EUR 1.10. For 2013 the company expects a rise in the investment volume to about EUR 2.8bn, while production will remain stable.
Fire fighting vehicles maker Rosenbauer said its 2012 turnover increased by 19% to a record-high of EUR 645m due to improved exports. Pre-tax profit however fell by 4% to EUR 38.8m. The results were negatively affected by the intensified price competition. The company expects good utilisation for 2013.
Water technology specialist BWT reported a record-high turnover of EUR 502.3m for 2012, an increase of 4.9% in annual terms. Net profit went up 4.7% to EUR 14.4m. Dividends will be kept unchanged at EUR 0.28. For 2013 the firm sees a higher turnover but with increasing advertising and financing costs.

Friday

Insurer Uniqa reported a net profit of EUR 130.2m for 2012, beating analysts' expectations. After the loss-making 2011, Uniqa will now propose a EUR 0.25 dividend per share for 2012.

Building group Porr said that it had ended 2012 in the black, compared with a EUR 72.2m loss a year earlier. The production output came around the 2011 level of EUR 2.9bn.
Builder Strabag revealed a cooperation agreement with mining giant Rio Tinto for the development of tunnel and shaft drilling systems.
Austrian fruit and sugar group Agrana said it is investing USD 40m in the construction of a new plant in the USA for its fruit preparations business.