|
DGAP-News: Ernst Russ AG
/ Key word(s): Half Year Results
Hamburg, 14 September 2020: Ernst Russ AG finished the first half of 2020, which was marked by the spread and consequence of the COVID-19 pandemic, with a positive result.
The Group's assets, financial position and earnings showed positive development in the first half of 2020 compared with the same period in the previous year. The Group's operating earnings were up EUR 2.7 million to EUR 1.8 million. Consolidated net income for the period also increased to EUR 1.8 million. Equity was up from EUR 68.7 million to EUR 70.3 million due to the positive consolidated net income for the period. The equity ratio was 48.5 % (31 December 2019: 46.2 %). Due to various divestments, particularly in the residential housing projects sub-segment, Group liquidity increased from EUR 10.0 million to EUR 13.3 million. The half-year performance of Ernst Russ AG is attributable mainly to the streamlining of the Group's structure, which will enhance its ability to act effectively and in a flexible manner in the asset investment and management segment in the long term. As at 30 June 2020, the ER Group managed 70 container ships, tankers and bulk ships as well as other assets with a total volume of around EUR 1.9 billion. The ER Group has a significant interest in 28 vessels, 14 of which are consolidated into the ER Group. This investment portfolio mainly consists of container ships in the 700 to 4,250 TEU classes, plus a handysize bulker with a capacity of 38,000 dwt and a ro-ro ferry. In pursuit of its focus on the Shipping segment, Ernst Russ AG disposed of the residential housing projects sub-segment from the Real Estate segment at the beginning of the current financial year. "Further development of our Shipping segment remains our primary goal. We want to continuously expand our fleet and become a leading tonnage provider in the international shipping industry," comments Ernst Russ AG CEO, Robert Gärtner. "Owing to the macroeconomic situation, our business activities are currently focussed on securing liquidity," adds Robert Gärtner. The Ernst Russ 2020 Half-Year Report can be downloaded from www.ernst-russ.de. Contact: Ernst Russ AG Anika Hillmer Investor Relations Tel. +49 40 88 88 1 1800 E-Mail: ir@ernst-russ.de
14.09.2020 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: | 1130815 |
| End of News | DGAP News Service |
|
|
1130815 14.09.2020
P R O D U C T S U G G E S T I O N S
The information presented here has been provided by our content partner EQS-Group. The originator of the news is the respective issuer, the company relating to the news, a publication service provider (press or information agency) which uses the distribution service of EQS to transmit company news to shareholders, investors, investors or interested parties. The original publications and other company-relevant information can be found at eqs-news.com.
The information you can access does not constitute investment advice. The presentation of our cooperation partners, where the implementation of investment decisions would be possible depending on the individual risk profile, is solely at the discretion of the person using the service. We only present companies of which we are convinced that the range of services and customer service will satisfy discerning investors.
If you are considering leverage products, familiarise yourself with the typical characteristics of the financial instruments beforehand. Take the time to determine the risk content of the planned investment before making an investment decision. Bear in mind that a total loss cannot be ruled out with leverage products.
For newcomers to the subject, we offer various options in both the training and the tools section, through which you can train theoretical knowledge and practical experience and thus improve your skills. The offer ranges from participation in webinars to personal mentoring. The range is continuously being expanded.
1 Lab features are usually functionalities that emerge from the think tank of the investor community. In the early stages, these are experimental functionalities whose development process is largely determined by use and the resulting feedback from the community. When integrating external services or functionalities, the functionality can only be guaranteed to the extent that the individual process elements, such as interfaces, interact with each other.
