Brief: Ernst Russ: Fleet Expansion And FY 2022 Forecast

Ernst Russ AG

06/12/2021 17:27

Dec 6 (Reuters) - ERNST RUSS AG  HXCKk.DE :
    * FLEET EXPANSION BY TWELVE FURTHER FULLY CONSOLIDATED
VESSELS AND
FORECAST FOR THE FINANCIAL YEAR 2022
    * EXECUTIVE AND SUPERVISORY BOARD OF ERNST RUSS AG HAVE
RESOLVED
TODAY TO ACQUIRE FURTHER SHARES IN FERNANDO FEEDER PARENT GMBH &
CO. KG IN AMOUNT OF 10 %
    * AS A RESULT, ERNST RUSS AG INDIRECTLY ACQUIRES A MAJORITY
INTEREST TOTALLING 55 % IN A TWELVE CONTAINER FEEDER VESSELS
PORTFOLIO
    * REALIZATION OF TRANSACTION IS PLANNED FOR YEAR END 2021
    * TRANSACTION HAS NO SIGNIFICANT IMPACT ON PREVIOUSLY
PUBLISHED
FORECAST FOR CURRENT FINANCIAL YEAR 2021, EXCEPT FOR A
CONSOLIDATION-RELATED INCREASE IN LIQUIDITY
    * OUTLOOK 2022: SHIP PORTFOLIO IS EXPECTED TO CONTRIBUTE TO
ERNST
RUSS AG'S GROUP EARNINGS WITH REVENUES IN A RANGE OF EUR 41 TO
44 MILLION, AN EBITDA OF EUR 20 TO 23 MILLION AND AN EBIT OF EUR
3 TO 5 MILLION
    * PORTFOLIO'S 2022 EBIT WILL BE MAINLY IMPACTED BY AN
INITIALLY
HIGHER DEPRECIATION
    * THUS AND BASED ON TODAY'S ALSO APPROVED BUDGET PLANNING
FOR
FINANCIAL YEAR 2022, EXECUTIVE BOARD OF ERNST RUSS AG EXPECTS
CONSOLIDATED REVENUES IN A RANGE OF EUR 140 TO 145 MILLION, A
CONSOLIDATED EBITDA OF EUR 67 TO 72 MILLION AND AN ADJUSTED EBIT
OF EUR 41 TO 46 MILLION

Source text for Eikon:  ID:nEQ78bGWa 
Further company coverage:  HXCKk.DE 

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