DGAP-News: Ernst Russ AG continues to deliver positive business performance

Ernst Russ AG continues to deliver positive business performance

- Earnings before tax (EBT) of EUR 9.3 million

- Successful expansion of the fleet

- Real estate business expanded further

Hamburg, 26 April 2018: Ernst Russ AG successfully continued its strategic repositioning in the 2017 financial year. Today, the company presents itself as a fully integrated asset and investment manager.

Revenue increased 10 % year on year to EUR 44.0 million. In addition to the shipping segment, the real estate segment performed particularly well. Consolidated net earnings before tax (EBT) came to EUR 9.3 million, following what was also a good result in the previous year of over EUR 10 million. Equity also developed significantly, rising from EUR 38.6 million to EUR 44.9 million. As a result the equity ratio increased to 38.0 %. Based on the encouraging operating figures, the share price also performed well in 2017.

The market environment is currently very attractive, with historically low asset prices and a positive supply and demand ratio. We successfully took advantage of this to acquire five container ships in the promising feeder class as in-house as well as co-investments. Two ships were acquired as proprietary investments. "ElbFeeder", an investment vehicle established with a joint venture partner, acquired an additional three ships. The plan to expand the fleet through the acquisition of additional ships is currently being put into action.

"Pareto Deutschland", a joint venture set up in 2017 between Ernst Russ AG and the globally operating Norwegian company, Pareto Securities AS, had success with its initial projects. This has allowed two tankers to be successfully placed on the Norwegian capital market.

The real estate segment was sustainably expanded and its market presence intensified. The subsidiary, Assetando Real Estate GmbH, has impressively proven its competence in subsidised housing by integrating and selling a portfolio of 210 units. In addition, it expanded its real estate management portfolio by almost EUR 1 billion by acquiring two companies in Cologne.

"On the whole, we built a good basis in 2017 for continued economic success in the future," concluded Jens Mahnke, CEO of Ernst Russ AG, summarising the stable performance of the Ernst Russ Group. "Our objective continues to be sustainable growth."

You can order a printed copy of the Ernst Russ AG Annual Report 2017.

About the Ernst Russ Group: The Ernst Russ Group is a publicly listed asset and investment manager with a focus on the asset classes of shipping and real estate. In the 2017 financial year, the ER Group administered a fleet of some 150 container, tanker and bulker ships as well as other vessels. They are either actively managed or are managed as fund ships by shipping partners. The Ernst Russ Group acts as an asset manager for various assets in the Real Estate, Shipping and Alternative Investments segments. Trustee services are also part of the Ernst Russ Group's business. The companies in the Ernst Russ Group currently manage investments of approx. EUR 6.3 billion in around 190 funds and acts as investor/co-investor. The company has offices in Hamburg, Bremen, Cologne and London. www.ernst-russ.de