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Ernst Russ AG: Publication of preliminary business figures for the first half-year 2022 and upward revision of forecast for the 2022 financial year


Ad hoc release pursuant to Article 17 MAR

Hamburg, 16 August 2022: Based on preliminary and unaudited figures, Ernst Russ AG (ISIN DE000A161077) expects revenues of approximately EUR 82.7 million (1st half-year 2021: EUR 39.6 million) and operating earnings (EBIT adjusted for non-operating income and expenses) of approximately EUR 51.0 million (1st half-year 2021: EUR 8.6 million) for the first half of 2022.

On this basis and against the backdrop of the ongoing positive business performance and the largely secured employment situation of the fleet of Ernst Russ group for the fiscal year 2022, the management board of Ernst Russ AG can today raise its previous forecast for the 2022 financial year to the effect that it now expects revenues between EUR 183 and 193 million (previously: between EUR 160 and 170 million) and an operating result between EUR 85 and 90 million (previously: between EUR 72 and 77 million). The forecast is based, among other things, on charter contracts already concluded for the vast majority of the Ernst Russ fleet and on the assumptions that the technical availability of the fleet will be approximately 96.2 % as well as an average exchange rate of 1.035 USD/EUR.

The final business figures for the first half-year 2022 will be published as planned on 25 August 2022.

This ad hoc release was published on 16. August 2022 at 10:55 am.

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