DGAP-News: Ernst Russ AG
/ Key word(s): Quarter Results
Hamburg, 17 May 2022 - The Ernst Russ Group operating result showed positive trends in Q1 2022 in spite of the global political issues and the resulting economic consequences. Due to favourable trends in the shipping markets and investments made in expanding its fleet, the Group can look back on the fifth consecutive quarter of revenue and earnings growth. The Ernst Russ Group had a majority holding in 28 vessels as of 31 March 2022. This portfolio consists mainly of container vessels in the 700 to 6,600 TEU classes, plus a handysize bulker with a capacity of 38,000 DWT and a multi-purpose vessel. Advantage was taken of the positive market environment to sell the vessels, Dance and Lotta Auerbach in Q1 2022 and Music in Q2 2022 and good gains on disposal were achieved. The acquisitions of the vessels Conmar Avenue and Faith (formerly Motivation D) in Q2 2022 were made in continuation of our business strategy and will contribute positively to revenues and earnings in the future. The Q1 2022 financial statement illustrates the positive overall performance of Ernst Russ Group. The performance of the share price also reflects the positive overall result achieved by Ernst Russ AG. The share price reached a high of EUR 7.50 on 28 March 2022 and closed the quarter at EUR 7.25. The average price of the Ernst Russ share in the first three months of 2022 was EUR 6.02. Our corporate aim is to continue increasing the value of the share and boost investment in Ernst Russ AG. You can download the latest Ernst Russ AG 2022 Quarterly Report at www.ernst-russ.de/en/investor-relations-de/finanzberichte.html . About the Ernst Russ Group: Ernst Russ AG is an internationally operating ship owner and maritime investment manager based in Hamburg. Parts of the company date back to 1893. The Group currently manages a fleet of 28 fully consolidated vessels. The focus here is on container vessels with a capacity of between 700 and 6,600 TEU. Ernst Russ AG expands its fleet on an ongoing basis thus ensuring stable and sustainable added value for its shareholders. Contact: Ernst Russ AGAnika Hillmer Investor Relations Tel. +49 40 88 88 1 1800 E-Mail: ir@ernst-russ.de
17.05.2022 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. |
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 Frankfurt (Scale), Hamburg, Tradegate Exchange |
EQS News ID: | 1353949 |
End of News | DGAP News Service |
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1353949 17.05.2022
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