23.08.2020, 5001 Zeichen

Strabag: Austrian construction group Strabag has been awarded a large contract in Hamburg. Strabag was commissioned to widen the Hochstraße Elbmarsch (K20), a section of the A7 motorway, from three to four lanes in each direction. At 3.84 km in length, the elevated motorway section is the longest road viaduct in Germany. The DEGES contract with a volume of more than Euro 200 mn is being carried out in a consortium of Strabag Subdivision Bridge Construction and Subdivision North.
Strabag: weekly performance: 2.80%

Frequentis: The operating business of Frequentis AG, an international supplier of communication and information systems for control centres with safety-critical tasks, developed satisfactorily in the first half of 2020 despite the extensive restrictions resulting from the COVID-19 pandemic. Revenues were Euro 132.3 mn in the first six months of 2020, almost unchanged compared to the prior-year period. This was attributable to a number of successful project acceptances and installations, despite COVID-19. These included project acceptances in Vienna and Melbourne as part of the Australian OneSky project, for the German Armed Forces, and in Switzerland, as well as for the Norwegian security network Nødnett, rail projects in Central and Eastern Europe, and project acceptance for the GMDSS (Global Maritime Distress and Safety System) for Greenland. EBITDA (earnings before taxes, interest, depreciation, and amortisation) increased to Euro 6.0 mn in the reporting period (H1 2019: Euro 2.4 mn) and EBIT improved to Euro -1.0 mn (H1 2019: Euro 3.9 mn). Despite the impairment loss on deposits caused by the insolvency of Commerzialbank Mattersburg, the equity ratio was maintained at 36.5% at the end of June 2020. Unlike EBITDA and EBIT, the loss for the period is directly affected by the impairment loss. After adjustment for this one-off effect (Euro 23.2 mn after taking the tax effect into account), the Frequentis Group made a loss of Euro 0.2 mn in the first half of 2020 (H1 2019: loss of Euro 2.4 mn). Orders on hand as at 30 June 2020 amounted to Euro 445.2 mn, an increase of 13.7%. Thanks to the good order situation and the efforts to use digitisation to deliver projects, the Frequentis team is working at full capacity despite the pandemic. Although there cannot be a forecast how the pandemic will develop, Frequentis aims to roughly maintain or even increase revenues and order intake in 2020 as a whole.
Frequentis: weekly performance: -2.40%

Vienna Airport (Flughafen Wien): Revenue of the Flughafen Wien Group in H1/2020 fell by 51.2% to Euro 195.8 mn. EBITDA declined by 73.3% to Euro 48.9 mn, and EBIT was down by 113.8% to minus Euro 16.2 mn. The net profit for the period before non-controlling interests in H1/2020 equalled minus Euro 18.2 mn, comprising a drop of 121.9%. The net debt of the company increased to Euro 149.0 mn (31 December 2019: Euro 81.4 mn). The free cash flow amounted to minus Euro 69.0 mn (H1/2019: Euro 76.0 mn). "There is a threat looming on the horizon of the crisis extending even longer without functioning international flight traffic. This not only applies to tourism and conferences but also to large parts of the economy and industry. Whoever is not present today on the marketplace in such an export-oriented economy like Austria will not have any orders and thus no work tomorrow. For this reason, unified European-wide and global travel regulations as well as a comprehensive testing strategy are urgently needed, so that extensive international business and holiday travel is once again possible", states Günther Ofner, Member of the Management Board of Flughafen Wien AG. From January to June 2020, the Flughafen Wien Group including the foreign strategic investments in Malta Airport and Kosice Airport reported a drop in the number of passengers handled by 66.0% year-on-year to a total of 6.2 mn. The number of passengers at Vienna Airport fell by 65.3% from the prior-year level to 5,090,546 travellers. "Passenger volume has increased since the beginning of July compared to the weeks beforehand but is still significantly below the level reached in previous years. The number of travellers in the first two weeks of August climbed to about 25,000 per day. Nevertheless, it remains to be seen how flight traffic will develop in the coming months in the light of the growing number of people across the globe who are inflicted with COVID-19. In any case, the related short-term changes in travel regulations strongly inhibit passenger volumes. COVID-19 will remain with us for some time to come. For this reason, unified international regulations for air travel are urgently needed in times of the coronavirus, along with the electronic recording of travel data, especially for entering the Schengen Area", explains Julian Jäger, Member of the Management Board of Flughafen Wien AG.
Flughafen Wien: weekly performance: -5.09%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (18/08/2020)

Christian Drastil: Wiener Börse Plausch

Börsepeople im Podcast S12/08: Robert Abend

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Aktien auf dem Radar:Amag, Palfinger, SBO, Addiko Bank, Flughafen Wien, Austriacard Holdings AG, EVN, EuroTeleSites AG, Pierer Mobility, Semperit, Bawag, Kostad, Wolford, Oberbank AG Stamm, Polytec Group, ams-Osram, Agrana, CA Immo, Erste Group, Immofinanz, Kapsch TrafficCom, Mayr-Melnhof, OMV, Österreichische Post, Strabag, Telekom Austria, Uniqa, VIG, Wienerberger, Covestro.

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