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Ernst Russ AG: Positive business performance in 2023 - Seite 2

Following the sharp correction in the second half of 2022, the charter market has now returned to a normal level. Against this backdrop, the ER Group expects the consolidated revenue to range from EUR 155 million to EUR 175 million in the 2024 financial year. According to the current forecast, the operating earnings are expected to range from EUR 47 million and EUR 67 million.

"I am highly pleased with the company's performance," stated Robert Gärtner, CEO of Ernst Russ AG. "Ernst Russ AG successfully acquired three container vessels with a slot capacity of 1,025 TEU, 2,194 TEU and 13,400 TEU respectively, each with an average age of around ten years. Additionally, we divested two container vessels, each 20 years old, thereby expanding and rejuvenating our fleet and significantly strengthening our company's position."

You can request a printed copy of the current Ernst Russ AG Annual Report 2023 in both German and English or download it at 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 30 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. [phone]
E-Mail: [e-mail]

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18.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
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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 Berlin, Frankfurt (Scale), Hamburg, Tradegate Exchange
EQS News ID:	1860449