Two of Austria’s leading construction companies had good and bad news for shareholders in the past few days. Strabag SE, the country’s busiest building firm, said it achieved a turnover of 13.7 billion Euros in 2011. This is an improvement of 11 per cent compared to 2010. The company’s earnings before interest and taxes (Ebit) […]
Austria’s third-biggest construction company has warned its shareholders of potential losses. Porr AG announced today (Thurs) it might suffer a loss of 70 to 80 million Euros before tax by the end of this year. The firm said it was challenged by write-offs in Eastern European (EE) countries like Hungary and Romania where state-owned institutions […]
Turkish construction company Renaissance has increased its interest in Austria’s third-biggest building company. Porr AG announced today (Thurs) that its cooperation partner acquired an additional 5,700 shares. This purchase means Renaissance now holds 10.07 per cent in the Vienna-based company. Construction businessman Karl Heinz Strauss – who succeeded Wolfgang Hesoun as executive chief of Porr […]
Construction sector giant Porr AGs earnings shrank by more than a fifth last year.The company announced today (Fri) that it achieved earnings before interest and taxes (Ebit) of 49.1 million Euros in 2010, down from 64 million Euros the year before.Porr argued that it has been feeling the most recent recession which broke out […]
Porr AG chairman Karl-Heinz Strauss has said the construction firm may stop operating in Hungary.The Hungarian government has criticised the quality of a motorway recently built by the Viennese company. Strauss pointed out today (Tues) that the problems were “of political nature”.The businessman said: “We may have to withdraw from Hungary. I think (the situation […]
An Austrian construction company has started a joint venture with a bankrupt rival, it has emerged.Business papers report today (Weds) that Vienna-based Porr AG will start working together with Slovenian building firm SCT. The new partners will try to win public tenders in the country which neighbours Austria in the south.SCT was banned from applying […]
A leading Austrian construction company has been assigned to build a 10-000-seat football stadium in Libya.Vienna-based Porr, Austrias third-biggest building firm, its Turkish cooperation partner Renaissance Group and Libyan Investment Development Company, were contracted to build the venue in the city of Tripoli, it was announced today (Mon).The assigned companies will rake in an overall […]
Construction company Porr has started to lay off staff, new figures have shown.The Vienna-based firm, which is listed on the Vienna Stock Exchanges (WBAG) standard market auction, said today (Thurs) it had an average 11,560 employees in the first nine months of this year, down from 11,736 it had in the same period of 2009.This […]