Money Buzz! Europa

Category: Vienna

  • Austrian turnover in industry and construction, -4.9% in January

    Austrian turnover in industry and construction, -4.9% in January

    A total of 66 219 enterprises in the entire industry and construction sector (+0.7% compared to the previous year) turned over €22.2 bn (-4.9%) in January 2020, according to calculations by Statistics Austria.

    The working-day adjusted turnover for industry and construction decreased by 3.2%. These figures coupled with increasing employment (950 884 persons, +1.7%).

    At establishment level (66 784 establishments, +0.7%), production sold decreased by 5.4% (working-day adjusted: -3.7%) in comparison to previous year’s level and amounted to €22.0 bn in nominal terms (employing 949 964 persons, +1.7%). With €19.2 bn in nominal terms, industrial production sold fell by 6.8% compared to the previous year.

    The 36.381 Austrian construction establishments (+1.4%) achieved a production sold of €2.8 bn in January 2020. This corresponds to an increase of 5.6% in nominal terms (working-day adjusted: +8.3%) compared to the previous year.

    At the end of January 2020, Austrian construction companies (not including construction auxiliary trades) had orders booked totalling about €15.5 bn (-3.5% year-over-year).

  • Austria: Airline passenger volume increased by 14.1% in 2019

    Austria: Airline passenger volume increased by 14.1% in 2019

    In 2019, a total of 36.2 million passengers (transit included) was counted at the six international Austrian airports (Vienna, Graz, Innsbruck, Klagenfurt, Linz and Salzburg), as Statistics Austria reports.

    Compared to 2018, this was a growth in passenger volume by 14.1% (+4.5 million passengers).

    Furthermore, a total of 319 945 take-offs and landings was registered in scheduled and non-scheduled traffic at the six airports. Thus, the number of flight movements rose by 7.8% compared to the previous year (296 852 take-offs and landings).

    Vienna International Airport transported 31.7 million passengers

    The increase in passenger volume at Austria’s airports was primarily attributable to Vienna International Airport, which transported 31.7 million passengers in 2019, a growth by 17.1% (+4.6 million passengers) compared to the previous year.

    More passengers were also registered at the airports Innsbruck (+25 194 passengers or +2.3%) and Graz (+5 996 passengers or +0.6%).

    Salzburg airport, which was temporarily closed due to the runway renovation in spring 2019, reported a decrease of 126 477 passengers (-6.9%) compared to 2018.

    At the airports Linz (-28 562 passengers or -6.1%) and Klagenfurt (-18 938 passengers or -8.3%), the number of passengers declined as well in 2019.

    Concerning air cargo and air mail, a total of 247 200 tonnes of cargo and 16 521 tonnes of mail was transported by air in the reference year. While air cargo remained stable (2018: 247 198 tonnes), air mail increased by 19.1% (2018: 13 874 tonnes) compared to the previous year.

  • Corona crisis has an enormous impact on the Austrian labour market

    Corona crisis has an enormous impact on the Austrian labour market

    The corona crisis has an enormous impact on the Austrian labour market, show the latest data published by Statistics Austria. Starting with the national shutdown in mid-March 2020, unemployment increased almost instantly.

    More than 35.000 job losses were registered on 15 March alone. Thus, the national labour market agency recorded massive inflows (+65.7% compared to March of the previous year) into the unemployment register.

    By end of March, there were 504.345 (+199 934) persons registered as unemployed.

    Yet, this situation has no immediate impact on unemployment according to the international definition, as latest results of the Austrian Labour Force Survey conducted by Statistics Austria show.

    However, there is a clear decrease in the number of people in employment (-77.500; -1.8%) and a corresponding increase of economically inactive persons available to work but not seeking a job (+51.3% to 160 500).

    At the same time, 173.100 people stated that they had not worked at all or worked less than during a regular working week due to slack work in March 2020, this is seventeen times more than in March 2019.

  • Immofinanz increases net profit by roughly 62% in 2019

    Immofinanz increases net profit by roughly 62% in 2019

    • Rental income +18.1% and results of asset management +19.1%. Occupancy rate at record 96.8%.
    • Robust balance sheet: net LTV of 43.0%, liquid funds of EUR 345.1 million at year-end 2019.

    Immofinanz net profit rose by 61.9% to EUR 352.1 million and goes hand in hand with a solid financial position: cash and cash equivalents total EUR 345.1 million.

    In order to strengthen this very good cash position, an unsecured revolving credit facility of EUR 100 million was concluded at the end of March 2020.

    The results of asset management improved by 19.1% to EUR 207.3 million (2018: EUR 174.0 million).

    The results of property development totalled EUR -12.4 million (2018: EUR -4.3 million) and were influenced, among others, by higher construction costs for development projects and expenses for real estate inventories.

    As a consequence, the operating profit (EBIT) more than doubled to EUR 345.6 million (2018: EUR 159.1 million).

    The SIMMO investment represented the main component in 2019 (EUR 76.9 million). Financial results were again positive and amounted to EUR 4.5 million (2018: EUR 44.2 million).

    Net profit rose by 61.9% to EUR 352.1 million in 2019 (2018: EUR 217.5 million). Basic earnings per share equalled EUR 3.37 (2018: EUR 1.97) and diluted earnings per share EUR 3.03 (2018: EUR 1.80).

    Record occupancy level

    The real estate portfolio included 213 properties with a combined carrying amount of approximately EUR 5.1 billion as of 31 December 2019. Most of these properties – 92.7% or EUR 4.7 billion – are standing investments.

    Acquisitions and completions led to an increase of more than EUR 1.0 billion or 27.7% in the standing investment portfolio during the past year.

    The occupancy rate reached a record level of 96.8% (31 December 2018: 95.8%). The gross return equalled 6.2% based on IFRS rental income and 6.5% based on invoiced rents.

  • ZKW at 1.25 billion euros in revenue and over 10.000 employees

    ZKW at 1.25 billion euros in revenue and over 10.000 employees

    • At the end of 2019, ZKW Group employed around 10,000 people at 10 locations in eight countries.
    • The plant in Silao, Mexico, which went into operation in 2015, will be expanded by 19,000 square meters of production space by the end of 2020.
    • The ZKW Group’s revenue was maintained at 1.25 billion euros despite difficult conditions in the international automotive industry.

    ZKW Silao plant to be expanded

    Construction began in November 2019 to expand the current area of the ZKW plant in Silao from 22,000 to 41,000 square meters. The extension will be equipped with state-of-the-art technologies for the manufacture of innovative automotive lighting systems – such as plastic injection molding systems, hard coating for the coating of plastic diffusing lenses, painting systems, metallization equipment for reflectors, and headlight assembly lines.

    Completion is scheduled for October 2020 with start of production scheduled for August 2021. The number of employees is to rise from 700 at present to around 1,400.

    ZKW is investing around 67.5 million euros at its Mexico site.

    High-quality headlamps for premium car manufacturers such as BMW, Daimler, Ford Lincoln, GM, Navistar, Nissan Infiniti, VW and Volvo are produced in Silao.

    New Subsidiaries in Asia

    Since last year, the lighting systems manufacturer has had a branch in Incheon, Korea. The former location of LG Electronics serves the development and distribution of rear lamps for the automotive market in the Asia-Pacific region.

    The LG site in Ningbo, China, where rear lamps are produced, was also integrated.

    Furthermore, ZKW expanded its plants in Slovakia and Mexico with additional capacities. Altogether, more than 210 million euros will be invested.

    At the company headquarters in Wieselburg, Austria, a new logistics center and development laboratory will be built starting in April 2020.