Ernst Russ : closes a successful year with a positive business result

DGAP-News: Ernst Russ AG / Key word(s): Annual Report Ernst Russ AG closes a successful year with a positive business result 25.03.2021 / 08:42 The issuer is solely responsible for the content of this announcement. Hamburg, 25 March 2021 - The 2020 financial year has seen the Ernst Russ Group consistently consolidate its position as a ship-owner and maritime investment manager, complete the disposal of its Real Estate segment and implement several shipping projects. Overall, Ernst Russ AG can look back on a financially successful year in 2020 despite the spread of the COVID-19 pandemic. The positive overall development of Ernst Russ AG is reflected in the 2020 business figures. Ernst Russ AG has generated operating earnings of EUR 2.3 million and positive pre tax earnings of EUR 5.4 million. A figure that is up EUR 1.9 million year-on-year. Consolidated net income after non-controlling interests was up EUR 2.6 million to EUR 4.1 million. The growth of the Ernst Russ Group continues to be reflected in the increase in total equity and liabilities to EUR 163.4 million (previous year: EUR 148.7 million). Revenue of EUR 55.6 million was slightly below the previous year's level. Equity of EUR 80.1 million (previous year: EUR 68.7 million) produced an equity ratio of 49.0% (previous year: 46.2%). The share price has also performed positively since Q4 2020. Our corporate aim is to continue increasing the value of the share and sustain strong investment in Ernst Russ AG moving forward. There have been very positive trends in the international shipping markets since the second half of 2020. Ernst Russ AG used this momentum and added a further four ships to its fleet of majority-owned vessels in December 2020 and February 2021. The fully consolidated fleet now consists of 18 vessels. "The COVID-19 pandemic left lasting scars in 2020. But even in this time of crisis it has been demonstrated that international freight shipping is a stable and structurally relevant branch of the economy despite constant regulations", says Ernst Russ AG CEO Robert Gärtner. "Ernst Russ AG has performed very well in these circumstances owing to measures taken at an early stage and efficient processes. As an internationally active ship-owner and maritime investment manager, we have consistently used the opportunities open to us and look positively into the future", Robert Gärtner highlights. The 2021 Annual General Meeting of Ernst Russ AG will take place on 2 June 2021 in the form of a virtual meeting. Further information will be available on our website in due course - www.ernst-russ/de/hv.html. You can order a printed version of the Ernst Russ AG 2020 Annual Report in both German and English language or download it from www.ernst-russ.de. About the Ernst Russ Group: Ernst Russ AG is an international ship owner and maritime investment manager based in Hamburg. Parts of the company date back to 1893. As of 31/12/2020 the listed shipping company manages a fleet of 68 container, tanker, bulker, multi-purpose and other vessels. Contact: Ernst Russ AG Anika Hillmer Investor Relations Tel. [phone] E-Mail: [e-mail] 25.03.2021 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de

Language:	English
Company:	Ernst Russ AG
	Elbchaussee 370
	22609 Hamburg
	Germany
Phone:	[phone]
Fax:	[phone]
E-mail:	[e-mail]
Internet:	www.ernst-russ.de
ISIN:	DE000A161077
WKN:	A16107
Listed:	Regulated Unofficial Market in Frankfurt (Scale), Hamburg, Tradegate Exchange
EQS News ID:	1178326

End of News	DGAP News Service

1178326  25.03.2021