Carinthian machine and packaging manufacturer Hirsch Servo AG managed to reduce its losses in the past business year.The company said today (Fri) it suffered net losses of 6.2 million Euros in the 2009/2010 business year, down by 4.5 million Euros year on year.Hirsch Servo, which managed to keep its turnover stable at around 86 million […]
Tag: losses
Kulterer remains in custody
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Former Hypo Group Alpe Adria (HGAA) boss Wolfgang Kulterer has had his custody extended.Klagenfurt prosecutors announced today (Mon) they decided to extend the bankers detention over fears he might flee and try to cover up potential crimes previously carried out by him in connection with the near collapse of HGAA.Kulturer was arrested on 13 August. […]
AUA reduces its losses
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Austrian Airlines (AUA) bosses have said they will continue to carry out the ongoing cost-cutting regime as the firm suffered losses of 67 million Euros in the first half of this year.Operative losses reached 93.5 million Euros in the first six months of 2009.AUA co-chiefs Peter Malanik and Andreas Bierwirth announced today (Thurs): “Our measures […]
FlyNiki chief Niki Lauda has ditched his plans to sue European aviation authorities over losses suffered from the ash cloud-triggered lockdown of airspace.Lauda told Austrian press today (Fri): “My lawyer gave me a success chance of 60 per cent. I saw a 50 per cent prospect of winning the court case.”The three-time Formula One champion […]
Volksbank AG (ÖVAG) reports good business figures for the first quarter of this year after suffering dramatic losses in 2009.ÖVAG chief Gerald Wenzel said today (Fri) earnings before interest and taxes (Ebit) soared to 21.6 million Euros after the bank had losses of 93.4 million Euros in the first three months of last year.He added […]
KTM back on track as earnings rise
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Upper Austrian motorcycle and off-road vehicle maker KTM Power Sports AG is racing all the way on the road to recovery as earnings soared in the first half of its 2009/2010 business year.Officials at the Mattighofen-based firm said today (Thurs) earnings before interest and taxes (Ebit) climbed to 6.3 million Euros after losses of nine […]
Sparkassen Immobilien AG, also known as s-Immo, said today (Weds) it suffered losses for the first time in its 22-year history last year.The company which belongs to Austrian bank group Erste announced annual losses reached 78.9 million Euros in 2009. The main factor for this development was a devaluation of its Eastern European […]
Volksbank bosses have denied reports the bank faces nationalisation as losses soared dramatically last year.Volksbank AG (ÖVAG) chief Gerald Wenzel said the search for a strategic partner was ongoing in the banks bid to pay back the millions of state aid it received over the past few months to get through the economic crisis.Wenzel refused […]
Raiffeisen Romania suffers massive losses
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Raiffeisen Internationals (RI) Romanian subsidiary suffered 75 per cent year on year losses in 2009, it has been announced.Online newspaper Romanian Times has reported today (Weds) that Raiffeisen Bank Romania had a net profit of 40 million Euros last year. The institute also reported losses of two million Euros in the last quarter of 2009.The […]