Ernst Russ Ag · XETR:ERAG
Ernst Russ — H1 2025 Earnings Presentation
22 slides from Ernst Russ's earnings presentation, Aug 28, 2025
Slide 1: Investor Presentation H1 2025
ERNST RUSS AG Investor Presentation H1 2025 // 28 August 2025
Slide 2: Content
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Content 1 Ernst Russ at a glance 2 H1 2025 3 Market Update 4 Company Update
Slide 3: Global container shipping supply chain
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Global container shipping supply chain VALUE CHAIN WHO SCOPE Production of goods to be 1 Manufacturer shipped in containers ∼219.6 m TEU transported by sea** Operators Container shipping and logistics services, including 2 ∼ 4,300 vessels* distribution (po
Slide 4: Ernst Russ at a glance
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Ernst Russ at a glance EBIT and EBITDA H1 y-o-y ≈ USD 520 m $ 26 71 EBITDA in EUR m 66 Market value fleet Vessels on Water EBIT in EUR m 56 (30.06.2025) 51 49 Thereof from vessel sales 41 37 80.2 % 16.8 years 28 € Equity ratio 30.06.2025 ∅ Age 30.06.2025 6
Slide 5: Ernst Russ fleet
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Ernst Russ fleet Name Ownership Segment Capacity Year built Min. Charter Target: Reduction of non-strategic minority interests Rubina Ernst Russ Bulker 39,959 mt 2018 Pool Baldur Ernst Russ Container 1,341 TEU 2010 Q2 / 2027 4 vessels Frida Russ Ernst Russ
Slide 6: Content
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Content 1 Ernst Russ at a glance 2 H1 2025 3 Market Update 4 Company Update
Slide 7: Overview H1 2025
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Overview H1 2025 Key Developments Sale of Assets: Sale of MV ESL Wasl and MV Andante recognizing a book gain of EUR 32.3 m. Purchase of Shares: Buyout of minority shareholders in MV Rubina, MV Venetia and MV Hebe, following our strategy to simplify structu
Slide 8: Key Performance Indicators H1 2025
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Key Performance Indicators H1 2025 EBITDA- margin Shipping: Revenue vs. OPEX* EBIT and EBITDA Gain on disposal of Decline mainly due to 89.3% two vessels (EUR decrease of trading days 85 71 32.3 m) boosts EBIT 77 and EBITDA Trading days decreased 56 49 fro
Slide 9: Balance Sheet 30.06.2025
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Balance Sheet 30.06.2025 Assets ∑ 355.0 ∑ 353.4 EUR m Highlights 226.9 228.2 Strong capitalization for future growth Vessels* Robust balance sheet with equity 110.7 111.7 Liquidity ratio of 80.2% (Adj.**: 89.8%) Other assets 17.4 13.5 31.12.2024 30.06.2025
Slide 10: Cashflow H1 2025
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Cashflow H1 2025 Cashflow EUR m Highlights Liquidity 1.1.2025 110.7 Strong EBITDA leads to positive operating Cashflow Cashflow from operating 47.6 Cashflow from investing activities activities includes earnings on disposal of two vessels, divestment of a
Slide 11: Net Income H1 2025
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Net Income H1 2025 Net Income EUR m Highlights EBIT 55.6 The non-operating result is mainly influenced by book losses from foreign currency valuation Non-operating result -9.8 In addition to interest income, net interest and investment income Net interest
Slide 12: Ernst Russ Journey and Performance
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Ernst Russ Journey and Performance Revenue in EUR m Forecast and H1 EBITDA [adjusted]* in EUR m 192 203 173 93 95 101 91 H1: 80 56 39 H1: 39 11 2020 2021 2022 2023 2024 2025 Avg. Number of vessels (reporting period) 14 18 29 30 29 27 Average charter rate p
Slide 13: Content
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Content 1 Ernst Russ at a glance 2 H1 2025 3 Market Update 4 Company Update
Slide 14: Container Shipping - Supply
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Container Shipping - Supply Global container fleet and orderbook* Age structure global container fleet* Comments: 500 - 25+ years 3.329 20-24 years General: High orderbook to fleet 2,999 177 3.9% TEU <5years 9.4% ratio after years of record 26.7% ordering.
Slide 15: Container Shipping – Charter Market
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Container Shipping – Charter Market Development of freight and charter rates Market Overview: 6.000,00 Geopolitical Impact: Red Sea closure expected to remain through 2025. 5.000,00 Trade policies: US policies lead to strong volatility in volumes, as the o
Slide 16: Content
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Content 1 Ernst Russ at a glance 2 H1 2025 3 Market Update 4 Company Update
Slide 17: Progress along our strategic goals
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Progress along our strategic goals Generate Increase the visibility Reduce non-strategic minority sustainable profitability of the share interests in the fleet We thrive to generate attractive returns throughout market We intend to ramp-up Investor Relatio
Slide 18: Share and Investor Relations
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Share and Investor Relations Shareholder Structure Extended Research Coverage 24.7% Quirin Research („Buy“, target price 10.00 EUR) 33.7 m 38.5% mwb Research (Initital Study published in April, „Buy“, Number target price 10.00 EUR) of shares Döhle Group Mo
Slide 19: Döhle Group – Strong Partner
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Döhle Group – Strong Partner The service spectrum of Döhle Group covers all parts Strong backer with clear comittment towards the Ernst Russ and aspects of modern shipping business. strategy. Access to dealflow and customers, including two of the largest e
Slide 20: Forecast and strategic focus for 2025
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 Forecast and strategic focus for 2025 Strategic focus for 2025 EUR 147-167 m 97.7 % Revenue Utilization Continue successful capital allocation in volatile markets Thereof contracted: Increase investor relations activities and visibility of the EUR 145.5 m
Slide 21: Disclaimer
ERNST RUSS AG INVESTOR PRESENTATION H1 2025 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