Ad hoc announcement according to Art. 17 MAR

Hamburg, 05 July 2023: The management board of Ernst Russ AG (ISIN DE000A161077) today raised its previous forecast for the full year 2023 based on its review of the latest business performance. The expected revenues are now in a range between 190 and 210 million EUR (previously: range between 180 and 200 million EUR) and the expected operating result in a range between 70 and 90 million EUR (previously: range between 57 and 77 million EUR). The forecast results from the positive business performance in the fiscal year 2023 to date and is based mainly on charter contracts already concluded, planned technical availability of the Ernst Russ Group fleet of around 97.0%, an economically stable environment, and the assumption of an average exchange rate of 1.10 USD/EUR.

The financial figures for the first half of 2023 will be published on 24 August 2023.

This ad hoc release was published on 05. July 2023 at 15:42 am.