Ernst Russ AG
ISIN: DE000A161077
WKN: A16107
13 November 2024 07:45AM

EQS-News: Ernst Russ AG reports successful business performance

Ernst Russ AG · ISIN: DE000A161077 · EQS - Company News
Country: Germany · Primary market: Germany · EQS NID: 2028565

EQS-News: Ernst Russ AG / Key word(s): Quarter Results
Ernst Russ AG reports successful business performance

13.11.2024 / 07:45 CET/CEST
The issuer is solely responsible for the content of this announcement.


 

Hamburg, 13 November 2024 - After the first nine months of 2024, the Ernst Russ Group ('ER Group') can report a successful business performance. Despite the stabilization of inflation and general economic growth, the shipping industry continues to face risks stemming from the ongoing escalation of regional conflicts, particularly in the Middle East, and the Russia-Ukraine war, as well as renewed trade tensions.

In the first three quarters of 2024, the assets, financial position and earnings of the ER Group continued to develop at a satisfactory level. Revenue decreased by EUR 20.2 million year-on-year to EUR 129.1 million in the first nine months of 2024. This was primarily due to the anticipated decline in the average daily charter rate, from USD 20,053 per day to USD 17,432 per day. With an operating result (EBIT) of EUR 51.3 million, the ER Group recorded earnings before taxes of EUR 51.8 million. Consolidated net income after minority interests amounted to EUR 33.9 million, while ship assets decreased by EUR 21.8 million to EUR 230.0 million.

At the end of the third quarter of 2024, 29 ships were majority-owned by the ER Group. This ship portfolio consisted primarily of container ships in the 700 to 13,400 TEU size classes, supplemented by a handysize bulker and a multipurpose ship. Of 8,061 possible operating days, this fleet was operational on 7,784 days, or 96.6 %, in the first nine months of 2024 (prior-year period: 95.1 %).

Against this backdrop and considering the largely secured employment situation of the fleet, the ER Group continues to expect revenue within a range of EUR 155 million to EUR 175 million, and an operating result (EBIT) between EUR 47 million and EUR 67 million for the 2024 fiscal year.

You can download the Ernst Russ AG Nine-Month Report 2024 in both German and English from www.ernst-russ.de.

About the Ernst Russ Group: Ernst Russ AG is a publicly traded international ship owner and maritime investment manager based in Hamburg. Parts of the company’s history date back to 1893. Currently, the corporate group manages a fleet of 29 vessels, partially operated in collaboration with strategic partners. The focus is on container vessels ranging from 700 to 4,200 TEU, complemented by two larger container vessels with approximately 6,600 and 13,400 TEU, respectively, along with a Handysize bulker with 38,000 dwt and a multi-purpose vessel. Ernst Russ AG is continuously expanding its fleet, thus ensuring stable and sustainable value growth for shareholders.


Contact:
Ernst Russ AG
Anika Hillmer
Investor Relations
Tel. +49 40 88 88 1 1800
E-Mail: ir@ernst-russ.de


13.11.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.eqs-news.com


Language: English
Company: Ernst Russ AG
Elbchaussee 370
22609 Hamburg
Germany
Phone: +49 (0)40 88881-0
Fax: +49 (0)40 88881-199
E-mail: ir@ernst-russ.de
Internet: www.ernst-russ.de
ISIN: DE000A161077
WKN: A16107
Listed: Regulated Unofficial Market in Berlin, Frankfurt (Scale), Hamburg, Tradegate Exchange
EQS News ID: 2028565

 
End of News EQS News Service

2028565  13.11.2024 CET/CEST

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Boersengefluester.de (BGFL) provides an overview of the key figures on sales, earnings, cash flow and dividends to help you better assess the fundamental development of the respective companies. All information is entered manually in our database - the source is the respective annual reports. All estimates for future figures are provided by BGFL.

The most important financial data at a glance
  2018 2019 2020 2021 2022 2023 2024e
Sales1 52,71 58,79 55,57 92,29 191,74 202,67 170,00
EBITDA1,2 8,60 9,00 9,70 40,13 122,29 116,60 89,70
EBITDA-Margin3 16,32 15,31 17,46 43,48 63,78 57,53 52,77
EBIT1,4 3,80 4,00 2,30 30,80 90,10 86,60 59,00
EBIT-Margin5 7,21 6,80 4,14 33,37 46,99 42,73 34,71
Net Profit (Loss)1 6,38 1,77 4,74 26,29 83,90 81,61 50,00
Net-Margin6 12,10 3,01 8,53 28,49 43,76 40,27 29,41
Cashflow1,7 -0,98 12,25 8,03 39,72 98,75 90,18 69,00
Earnings per share8 0,19 0,05 0,12 0,49 1,46 1,66 0,87
Dividend per share8 0,00 0,00 0,00 0,00 0,20 1,00 0,20
Quelle: boersengefluester.de and Company information
Explanation

1 in Mio. Euro; 2 EBITDA = Earnings before interest, taxes, depreciation and amortisation; 3 EBITDA in relation to sales; 4 EBIT = Earnings before interest and taxes; 5 EBIT in relation to sales; 6 Net profit (-loss) in relation to sales; 7 Cashflow from operations; 8 in Euro; Source: boersengefluester.de

Auditor: Deloitte

All relevant valuation ratios, dates and other investor information on your share at a glance. Good to know: All data comes from boersengefluester.de and is updated daily. This means you are always up to date. You can get brief explanations of the key figures by moving the cursor or mouse over the relevant field.

INVESTOR-INFORMATION
©boersengefluester.de
Ernst Russ
WKN ISIN Legal Type Marketcap IPO Recommendation Plus Code
A16107 DE000A161077 AG 189,61 Mio € 06.10.2005 Kaufen 9F5FGVX3+PC
* * *
PE 2025e PE 10Y-Ø BGFL-Ratio Shiller-PE PB PCF KUV
9,59 12,02 0,80 10,84 1,38 2,10 0,94
Dividends
Dividend '2022
in €
Dividend '2023
in €
Dividend '2024e
in €
Div.-Yield '2024e
in %
0,20 1,00 0,20 3,53%
Financial calendar
Annual General Meeting Q1-figures Q2-figures Q3-figures Annual press conference
23.05.2025 21.05.2025 28.08.2025 13.11.2024 25.03.2025
Performance
Distance 60-days-line Distance 200-days-line Performance YtD Performance 52 weeks IPO
Last Price (EoD)
-2,75%
5,66 €
ATH 28,68 €
-2,95% -3,07% +38,90% +37,88% -72,39%

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