21st Austria weekly - Strabag, Vienna Insurance Group (16/11/2020)

Strabag: Construction group Strabag, along with consortium partners Eurovia and AZD Praha s.r.o., was awarded the contract to build the new Zilina-Teplicka railway station and to modernise the infrastructure of one of the most important Slovak railway junctions for a total of around Euro 323 mn. The project is financed through EU structural funds, Strabag's share amounts to 28 %. Work over the total length of 16.3 km is expected to last 48 months.
Strabag: weekly performance: 3.27%

Vienna Insurance Group: According to Vienna Insurance Group the operating insurance business is performing solidly and the premium development is slightly positive compared to the previous year. Driven by the negative performance of the capital markets, the financial result was around Euro 114 mn lower than in the 1st to 3rd quarter of 2019. The decline has a direct impact on the result before taxes, which amounted to Euro 266 mn in the 1st to 3rd quarter of 2020 (minus 29% compared to the same period last year). Based on these results for the 1st to 3rd quarter of 2020 the Managing Board of Vienna Insurance Group expects profit before taxes for the full year 2020 to be in a range of Euro 300 to 350 mn, subject to unpredictable volatilities on capital markets.
VIG: weekly performance: 1.67%

(From the 21st Austria weekly https://www.boerse-social.com/21staustria (16/11/2020)

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