Brief: Ernst Russ Raises Forecast For Fiscal Year 2022

Ernst Russ AG

28/03/2022 14:21

March 28 (Reuters) - ERNST RUSS AG  HXCKk.DE :
    * ERNST RUSS AG RAISES FORECAST FOR FISCAL YEAR 2022
    * TO SELL CONTAINER VESSEL MS "MUSIC" WITH A CONTAINER
CAPACITY OF
804 TEU, WHICH WAS BUILT IN 2007
    * ERNST RUSS GROUP HOLDS A 55 % STAKE IN MS "MUSIC" SHIPPING
COMPANY
    * VESSEL IS SCHEDULED FOR DELIVERY IN APRIL 2022
    * TRANSACTION WILL RESULT IN A GAIN ON DISPOSAL OF ABOUT EUR
12.3
MILLION IN CONSOLIDATED FINANCIAL STATEMENTS OF ERNST RUSS AG
    * REVENUES OF AROUND EUR 4.6 MILLION AND AN EBIT
CONTRIBUTION OF
AROUND EUR 2.5 MILLION WERE FORECAST FOR 2022 FINANCIAL YEAR
FROM TIME OF SALE
    * RAISES ITS PREVIOUS FORECAST TO EFFECT THAT AN EBIT OF
BETWEEN
EUR 72 UND 77 MILLION (PREVIOUSLY: RANGE BETWEEN EUR 62 UND 67
MILLION) IS NOW EXPECTED FOR FULL YEAR 2022
    * MINORITY SHAREHOLDERS PARTICIPATE IN THIS TRANSACTION IN
PROPORTION TO THEIR SHAREHOLDING
    * EXPECTATIONS WITH REGARD TO ALL OTHER FORECAST KEY FIGURES
HAVE
NOT CHANGED

Source text for Eikon:  ID:nEQ54W78Wa 
Further company coverage:  HXCKk.DE 

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