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21st Austria weekly - Strabag, Mayr-Melnhof, Vienna Insurance Group (07/09/2020)

13.09.2020

Strabag: Strabag Rail a.s., a subsidiary of publicly listed construction group Strabag SE, has been awarded a contract in the Czech Republic to modernise an approximately 9.6 km long section of track with six level crossings from Dětmarovice to Petrovice u Karviné on the state border with Poland. Strabag is carrying out the Euro 106 mn contract in a consortium with Czech construction company OHL ŽS a.s. The consortium is being led by Strabag with a share of 66.5 %. Works have already started and will last 29 months. The client is the Czech railway infrastructure authority (Správa železnic s.o.). The infrastructure project is being co-financed by the EU under the Connecting Europe Facility (CEF).
Strabag: weekly performance: -2.64%

Mayr-Melnhof: A comprehensive examination of the framework conditions has shown that it is not possible to continue production economically on the board machine in Hirschwang, Lower Austria. The age and design of the machine (year of construction 1952) as well as increased market requirements are hurdles to the continuation. This will affect 150 employees, and talks have already started on a social plan. The supply of customers from other plants of the Mayr-Melnhof Group is assured. The result of the Cartonboard Division is expected to be impacted by a EUR 25 million charge of which the major part is attributable to write-offs. The Hirschwang site shall in future concentrate on the existing folding carton production (Neupack) with 215 employees. Investments to strengthen the site in this area are being examined.
Mayr-Melnhof: weekly performance: 3.77%

VIG: VIG is now starting a new pilot project and will introduce a motor insurance offer with fully digital distribution and claims settlement on the Polish market by the end of year 2020. The heart of the project is an IT platform that allows rapid and flexible adaptations to meet changing customer needs and market conditions. If the pilot project is successful, an expansion to other VIG countries is planned. "With simple motor insurance policies and optional additional modules, the primary goal is to address a growing, digitally affine customer segment that is difficult or impossible to reach through the conventional ways of contact with insurance companies. According to current analyses, this customer segment will reach an attractive size with considerable growth potential in the coming years. The COVID-19 pandemic in particular has substantially increased the use and benefits of digital offers and services. During the pandemic, we were able to conclude most of our motor insurance policies via remote sales channels. This applied both to tools used by our intermediaries and to direct clients, where we already have the successful direct sales brand Benefia24 in Poland. We are therefore now focusing on an additional innovative customer solution at the right time," explains CEO Elisabeth Stadler.
VIG: weekly performance: 2.20%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (07/09/2020)


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21st Austria weekly - Strabag, Mayr-Melnhof, Vienna Insurance Group (07/09/2020)


13.09.2020


Strabag: Strabag Rail a.s., a subsidiary of publicly listed construction group Strabag SE, has been awarded a contract in the Czech Republic to modernise an approximately 9.6 km long section of track with six level crossings from Dětmarovice to Petrovice u Karviné on the state border with Poland. Strabag is carrying out the Euro 106 mn contract in a consortium with Czech construction company OHL ŽS a.s. The consortium is being led by Strabag with a share of 66.5 %. Works have already started and will last 29 months. The client is the Czech railway infrastructure authority (Správa železnic s.o.). The infrastructure project is being co-financed by the EU under the Connecting Europe Facility (CEF).
Strabag: weekly performance: -2.64%

Mayr-Melnhof: A comprehensive examination of the framework conditions has shown that it is not possible to continue production economically on the board machine in Hirschwang, Lower Austria. The age and design of the machine (year of construction 1952) as well as increased market requirements are hurdles to the continuation. This will affect 150 employees, and talks have already started on a social plan. The supply of customers from other plants of the Mayr-Melnhof Group is assured. The result of the Cartonboard Division is expected to be impacted by a EUR 25 million charge of which the major part is attributable to write-offs. The Hirschwang site shall in future concentrate on the existing folding carton production (Neupack) with 215 employees. Investments to strengthen the site in this area are being examined.
Mayr-Melnhof: weekly performance: 3.77%

VIG: VIG is now starting a new pilot project and will introduce a motor insurance offer with fully digital distribution and claims settlement on the Polish market by the end of year 2020. The heart of the project is an IT platform that allows rapid and flexible adaptations to meet changing customer needs and market conditions. If the pilot project is successful, an expansion to other VIG countries is planned. "With simple motor insurance policies and optional additional modules, the primary goal is to address a growing, digitally affine customer segment that is difficult or impossible to reach through the conventional ways of contact with insurance companies. According to current analyses, this customer segment will reach an attractive size with considerable growth potential in the coming years. The COVID-19 pandemic in particular has substantially increased the use and benefits of digital offers and services. During the pandemic, we were able to conclude most of our motor insurance policies via remote sales channels. This applied both to tools used by our intermediaries and to direct clients, where we already have the successful direct sales brand Benefia24 in Poland. We are therefore now focusing on an additional innovative customer solution at the right time," explains CEO Elisabeth Stadler.
VIG: weekly performance: 2.20%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (07/09/2020)




 

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