Ernst Russ Ag · XETR:ERAG
Ernst Russ — Q1 2026 Earnings Presentation
22 slides from Ernst Russ's earnings presentation, May 28, 2026
Slide 1: Investor Presentation Q1 2026
ERNST RUSS AG Investor Presentation Q1 2026 28 May 2026
Slide 2: Content
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Content 1 Introduction Ernst Russ 2 Financials Q1 2026 3 Market Update 4 Company Update MV Venetia
Slide 3: Ernst Russ' role in international shipping
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Ernst Russ´ role in international shipping Shipowner / „Manage the Manager“ Subcontractors Tonnage Provider Commercial management Financing Technical management Providing tonnage for flexibility and growth Quality assurance Crewing Brokerage (Insurance, Sa
Slide 4: Ernst Russ at a Glance 31.03.2026
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Ernst Russ at a Glance 31.03.2026 EBIT and EBITDA quarterly EUR 37.8 m 26 EBITDA in EUR m 48 Revenue Q1 2026 Vessels on Water EBIT in EUR m 40 Thereof from vessel sales 29 EUR 20.5 m 7 27 21 22 21 23 23 22 26 21 Vessels Incoming 19 EBITDA Q1 2026 15 15 16
Slide 5: Acquisition Pipeline
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Acquisition Pipeline 2026 2027 2028 Charter Q2 Q3 Q4 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 after handover Multipurpose Charlie ✓Handover 08.04. 7 year timecharter Tanker Newbuilding 1 18,500 mt 5 year timecharter Newbuilding 2 18,500 mt 5 year timecharter Newbuilding 3
Slide 6: Overview Q1 2026 & Post Quarter Update
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Overview Q1 2026 & Post Quarter Update Key Developments Q1 2026 Post quarter update Financial Performance: Revenue totaling EUR 37.8 m and an operating Acquisition of 4 Chemical/product tankers of the Intermediate class result (EBIT) of EUR 13.2 m. (18,500
Slide 7: Duration of Charter Parties – Container Vessels
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Duration of Charter Parties – Container Vessels Name Ownership Segment Capacity Year built Apr 26 May 26 Jun 26 Jul 26 Aug 26 Sep 26 Oct 26 Nov 26 Dec 26 Min. Charter* Rome Express Ernst Russ Container 13,400 TEU 2010 + Q2/2033 Frida Russ Ernst Russ Contai
Slide 8: Duration of Charter Parties – Other Vessels
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Duration of Charter Parties – Other Vessels Name Ownership Segment Capacity Year built Apr 26 May 26 Jun 26 Jul 26 Aug 26 Sep 26 Oct 26 Nov 26 Dec 26 Min. Charter* Multipurpose Louise Auerbach Joint Venture 4 Multipurpose 12,720 mt 2007 + Q2/2027 Ronnie Er
Slide 9: Content
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Content 1 Introduction Ernst Russ 2 Financials Q1 2026 3 Market Update 4 Company Update MV Venetia
Slide 10: Key Performance Indicators Q1 2026 vs. Q1 2025
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Key Performance Indicators Q1 2026 vs. Q1 2025 EBITDA- EBIT and EBITDA margin EBIT of EUR 13.2 m Shipping: Revenue vs. OPEX* Charter revenue reflects solid decline primarily 54.3 % operating per- 40 38 driven by USD/EUR 48 40 formance, impacted exchange ra
Slide 11: Net Income Q1 2026
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Net Income Q1 2026 In EUR m Highlights EBIT 13.2 EBIT of EUR 13.2 m reflects solid operating performance of the fleet and the absence of prior-year one-off gains. Non-operating 1.8 result Non-operating result of EUR 1.8m driven primarily by FX-effects. Fin
Slide 12: Cashflow Q1 2026
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Cashflow Q1 2026 In EUR m Highlights Cashflow EUR m Liquidity 114.3 01.01.2026 Operating cashflow remained broadly stable at EUR 17.4 m (PY: EUR 17.6 m), Cashflow from reflecting consistently strong cash operating activities 17.4 generation from fleet oper
Slide 13: Balance Sheet 31.03.2026
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Balance Sheet 31.03.2026 Assets 414.3 Highlights EUR m ∑ 370.1 Strong capitalization for future growth. 281.2 241.2 Vessel assets increased by EUR 40.0 m, Vessels* reflecting the acquisition of and advance Liquidity payments for the MPP acquisitions, net 1
Slide 14: Content
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Content 1 Introduction Ernst Russ 2 Financials Q1 2026 3 Market Update 4 Company Update MV Venetia
Slide 15: Market Update
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Market Update Development of time charter rates (indexed basis Apr 2025 = 100*) Highlights Shipping segments operate on distinct 115 fundamentals and have largely uncorrelated charter rates. 110 Red Sea Crisis re-routing shortens 105 containership supply w
Slide 16: Content
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Content 1 Introduction Ernst Russ 2 Financials Q1 2026 3 Market Update 4 Company Update MV Venetia
Slide 17: Strategic Roadmap
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Strategic Roadmap ✓ Phase 1: Transformation Phase 2: Disciplined Growth Phase 3: Vision Start of the Fleet Modernization Program Diversified yield play focusing on risk mitigation Portfolio Approach ✓ Sale of older tonnage to rejuvenate fleet ✓ 24 containe
Slide 18: Updated Forecast 2026
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Updated Forecast 2026 MV Lodur EUR 145-160 m 97.0% in April 2026 Revenue Utilization Thereof contracted: EUR 147.5 m* (2025: EUR 158.1 m) (2025: 97.7 %) Upward revision from EUR 34-44 m EUR 45-55 m 1.20 USD/EUR EBIT FX-Rate (2025: EUR 96.4 m incl. vessel s
Slide 19: Share and Investor Relations
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Share and Investor Relations Shareholder Structure 31.03.2026 Performance of the share price XETRA in EUR 9,00 24.7% 33.7 m 38.5% 6,00 Number of shares Döhle Group 3,00 J.P.&J.D. Döhle 36.8% Free Float 0,00 2020 2021 2022 2023 2024 2025 2026 Ø Target Exten
Slide 20: Financial Calendar 2026
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Financial Calendar 2026 28 May 2026 4 June 2026 23 June 2026 24 June 2026 Earnings Call Q1 2026 AGM 2026 Scale mwb Summit inspired virtual virtual virtual Frankfurt 25 August 2026 25 August 2026 26 August 2026 12 November 2026 Half-Year Report Earnings Cal
Slide 21: Disclaimer
ERNST RUSS AG INVESTOR PRESENTATION Q1 2026 Disclaimer This presentation has been prepared by Ernst Russ AG („Company“) and comprises the written materials/slides for a presentation concerning the Company. By attending this presentation and / or reviewing the slides you agree to be bound by the foll
Slide 22: Ernst Russ AG
ERNST RUSS AG Ernst Russ AG Elbchaussee 370 22609 Hamburg Germany Picture title and back: Adobe Stock © Mariusz ir@ernst-russ.de | +49 40 8888 1 1800