ERNST RUSS AG
DGAP-News: Ernst Russ AG / Key word(s): Half Year Results Ernst Russ AG achieves positive half-year results - Increased revenue and operating earnings - Significant rise in investing activities in the shipping segment - Successful real estate transactions completed Hamburg, 18 September 2018: Ernst Russ AG confirms the operating results for the previous year and continues to deliver a positive business performance in the first half of 2018. The Ernst Russ Group improved its operating earnings to EUR 3.3 million in the first six months of the year and equity increased from EUR 44.9 million to EUR 46.8 million. As a result, the equity ratio rose to 42.9 %. Revenue has again increased year on year and amounts to EUR 27.9 million. In addition Ernst Russ AG has considerably widened the scope of its investing activities. The joint venture established with a strategic partner in 2017 has been significantly expanded and currently comprises five container feeder ships. The delivery of two further units is expected in the near future. By the successful restructuring of two ships and the complete acquisition of an additional ship the field of direct shipping investments was considerably strengthened. "These ship acquisitions represent very good investments and we are aiming to acquire further high-yield ships", concludes Jens Mahnke, CEO of Ernst Russ AG, summarising its performance. The objective is to grow sustainably in this area and to make shipping investments in such a way that a full consolidation can take place. In addition to the very positive operating performance in the real estate segment, several properties were successfully sold on behalf of funds in the first half of the year. Very strong earnings were likewise achieved through the sale of a directly held property. The Ernst Russ AG half-year report 2018 is available for download from our website www.ernst-russ.de. About the Ernst Russ Group: The Ernst Russ Group is a publicly listed asset and investment manager with a focus on the asset classes of shipping and real estate. In the 2017 financial year, the ER Group administered a fleet of some 150 container, tanker and bulker ships as well as other vessels. They are either actively managed or are managed as fund ships by shipping partners. The Ernst Russ Group acts as an asset manager for various assets in the Real Estate, Shipping and Alternative Investments segments. Trustee services are also part of the Ernst Russ Group's business. The companies in the Ernst Russ Group currently manage funds and investments/co-investments with a total investment volume of around EUR 6.1 billion. The company has offices in Hamburg, Bremen, Cologne and London. www.ernst-russ.de
Contact: Ernst Russ AG Alan Alvarez Investor Relations Tel. +49 40 88 88 1 1800 E-Mail: ir@ernst-russ.de
18.09.2018 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 |
| End of News | DGAP News Service |
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