EQS-News: Ernst Russ AG publishes financial figures for the year 2024

Hamburg, 25 March 2025 – Before turning to our annual report, we would like to extend our deepest sympathy to our crew and their families following the collision involving the MV SOLONG, and especially the family of the crewmember that went missing in the incident and is sadly presumed deceased. We are actively engaged with all authorities to assist with the ongoing investigations and to ensure minimal environmental impact.

This event overshadows our review of the successful business performance in 2024. Nevertheless, we are committed to fulfilling our responsibility to report transparently on the assets, financial position, and earnings of the ER Group. In this context, we are publishing our figures for the past financial year today.

Assets, financial position, and earnings of the ER Group developed as planned in the 2024 financial year despite the generally difficult economic environment. Although global Inflation stabilized at a lower level, the shipping industry continued to face risks related to the constant escalation of regional conflicts, particularly in the Middle East and in the Russia-Ukraine war. International trade tensions also increased. However, the Group was able to benefit from the investments made and the sustainable employment concept of its fleet in the reporting year. The operating result (EBIT) is clearly positive. Consolidated net income after taxes including non-controlling interests amounts to EUR 71.8 m. As of 31 December 2024, Group liquidity had increased by EUR 43.3 million compared to the previous year due to the positive operating cashflow. Despite the dividend payment of EUR 32.5 m, the Group equity ratio fell only slightly from 76.4% to 75.0%. In the light of this, the Executive Board and Supervisory Board of Ernst Russ AG took the decision to propose a cash dividend of EUR 0.20 per share for the 2024 financial year to the Annual General Meeting, which will take place in Hamburg, Germany, on 23 May 2025.

The ER-Group projects that consolidated revenues in the 2025 financial year will range between EUR 147.0 m and EUR 167.0 m (2024: EUR 172.7 m). The EBIT from ship operations without consideration of vessel sales is expected to be in a range between EUR 43.0 m and EUR 73.0 m (2024: EUR 65.8 m). In the first three months of the year 2025, the ER Group sold two vessels. At the same time, the ER Group strategically increased its stake in three other vessels in which it already held a majority interest. Taking into account the vessel sales with capital gains on disposals totalling EUR 32.0 m (2024: EUR 1.9 m, one vessel) the forecast increases to a range between EUR 75.0 m to EUR 105 m (2024: EUR 67.7 m) for the EBIT including vessel sales.

The reduction of minority shareholdings with no strategic relevance is part of the strategy of Ernst Russ AG. The company intends to simplify the existing complex investment structures in the shipping portfolio in order to further increase efficiency, transparency and capital market viability. Investor relations measures are also to be expanded.

You can order a printed version of the Ernst Russ AG 2024 Annual Report in both German and English or download it from www.ernst-russ.de.

About the Ernst Russ-Group: Die Ernst Russ AG is an international shipping company based in Hamburg. Parts of the company date back to 1893. The Group currently manages a fleet of 28 vessels partially operated with strategic partners. The focus here is on container ships with a capacity of between 700 and 4,200 TEU, plus one larger container ship of around 13,400 TEU, a handysize bulker and a multi-purpose vessel.

Contact:

Ernst Russ AG
Anika Hillmer
Investor Relations
Tel. +49 40 88 88 1 1800
E-Mail: ir@ernst-russ.de