October 14, 2012 / 7:07 PM / 5 years ago

UPDATE 1-FCC unit Alpine sees big 2012 loss

* Alpine Holding says expects to meet obligations despite loss

* In talks with FCC about shoring up balance sheet

* See positive talks with creditor banks (Adds background)

VIENNA, Oct 14 (Reuters) - Austrian construction group Alpine Holding, a unit of Spain’s FCC, said on Sunday it expects to post a large 2012 loss, but expressed optimism it would be able to service its debt.

“Contrary to the issuer’s prior assessments, in particular due to the evolution of certain projects, the annual financial statements for the 2012 financial year would show a significant loss,” it said in a statement.

It said it was discussing with its owner “all necessary measures to be undertaken in order to restore a sound financial situation, including notably an appropriate equity layer,” for Alpine, Austria’s second-biggest construction company.

“Based on the support of its shareholders and the positive evolution of the talks with the financing banks, the issuer is confident that it will continue to meet all of its financial obligations.”

Alpine Holding had said last week it was taking measures to deal with tough market conditions and had adequate liquidity, responding to a Profil magazine report that its finances were stretched.

Citing what it called a management document, Profil had said an external review ordered by Chief Executive Johannes Dotter had shown Alpine faced a 2012 pre-tax loss of 263 million euros ($341 million) after taking up to 400 million euros in writedowns for “endangered projects” and low-value stakes.

Alpine has said it had hired a consultant to help evaluate its situation but that the Profil report reflected just one of various scenarios it had presented to its supervisory board.

Profil had said management was considering consultant KPMG’s recommendations to make divestments, get a capital injection from FCC, and negotiate with lenders to get longer repayment terms and 75 million euros in additional financing.

$1 = 0.7712 euros Reporting by Michael Shields; Editing by Steve Orlofsky and Gunna Dickson

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