Ernst Russ Ag · XETR:ERAG
Ernst Russ — Q1 2025 Earnings Presentation
20 slides from Ernst Russ's earnings presentation, May 21, 2025
Slide 1: Investor Presentation Q1 2025
ERNST RUSS AG Investor Presentation Q1 2025 // 21 May 2025
Slide 2: Content
ERNST RUSS AG INVESTOR PRESENTATION Content 1 Ernst Russ at a glance 2 Q1 2025 3 Market Update 4 Company Update
Slide 3: Ernst Russ at a glance
ERNST RUSS AG INVESTOR PRESENTATION Ernst Russ at a glance EBIT and EBITDA Q1 y-o-y ≈ USD 449 m $ 26 48 Market value fleet EBITDA in EUR m 40 Vessels (May 2025) (May 2025) EBIT in EUR m 27 23 21 21 80.4 % 16.7 years 17 14 € Equity ratio 31.03.2025 ∅ Age 31.03.2025 2 1 3 1 Q1 2020 Q1 2021 Q1 2022 Q1
Slide 4: Ernst Russ fleet
ERNST RUSS AG INVESTOR PRESENTATION 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 Contain
Slide 5: Content
ERNST RUSS AG INVESTOR PRESENTATION Content 1 Ernst Russ at a glance 2 Q1 2025 3 Market Update 4 Company Update
Slide 6: Overview Q1 2025
ERNST RUSS AG INVESTOR PRESENTATION Overview Q1 2025 Key Developments Sale of Assets: Sale of MV ESL Wasl recognizing a book gain of EUR 27.1 m. Agreement for the sale of MV Andante. Book gain to be realized in Q2. Purchase of Shares: Buyout of minority shareholders in MV Rubina, MV Venetia and MV H
Slide 7: Key Performance Indicators Q1 2025
ERNST RUSS AG INVESTOR PRESENTATION Key Performance Indicators Q1 2025 EBITDA- margin Shipping: Revenue vs. OPEX* EBIT and EBITDA Gain on disposal of a Decline mainly due to 117.5 % vessel (EUR 27.1 m) lower charter rates 45 48 boosts EBIT and 39 40 EBITDA Trading days decreased from 2,719 to 2,461
Slide 8: Balance Sheet Q1 2025
ERNST RUSS AG INVESTOR PRESENTATION Balance Sheet Q1 2025 Assets ∑ 355.0 ∑ 353.5 EUR m Highlights 226.9 239.4 Strong capitalization for future growth Vessels* 3.0 3.0 Financial assets Robust balance sheet with equity 110.7 97.6 Liquidity ratio of 80.4% (Adj.**: 90.0%) Other assets 14.4 13.5 31.12.20
Slide 9: Cashflow and Net Income Q1 2025
ERNST RUSS AG INVESTOR PRESENTATION Cashflow and Net Income Q1 2025 Cashflow Net Income EUR m EUR m Liquidity 1.1.2025 110.7 EBIT 40.3 Cashflow from operating Non-operating 33.9 result 3.0 activities Cashflow from Net interest and investing 7.4 investment 0.7 activities income Cashflow from financin
Slide 10: Ernst Russ Journey and Performance
ERNST RUSS AG INVESTOR PRESENTATION Ernst Russ Journey and Performance Revenue in EUR m Forecast and Q1 EBITDA [adjusted]* in EUR m 192 203 173 93 94 101 91 56 Q1: 41 39 11 Q1: 21 2020 2021 2022 2023 2024 2025 Avg. Number of vessls (reporting period) 14 18 29 30 29 27 Average charter rate p.d. in US
Slide 11: Content
ERNST RUSS AG INVESTOR PRESENTATION Content 1 Ernst Russ at a glance 2 Q1 2025 3 Market Update 4 Company Update
Slide 12: Container Shipping - Supply
ERNST RUSS AG INVESTOR PRESENTATION Container Shipping - Supply Global container fleet and orderbook* Age structure global container fleet* Comments: 500 - 25+ years 3.307 20-24 years General: High orderbook to fleet 2,999 117 <5years 4.0% TEU 9.6% ratio after years of record 24.9% ordering. Continu
Slide 13: Container Shipping – Charter Market
ERNST RUSS AG INVESTOR PRESENTATION Container Shipping – Charter Market Development of freight and charter rates Market Overview: 6000 Geopolitical Impact: Red Sea closure expected to remain through 2025. 5000 Trade policies: US policies lead to strong 4000 volatility in volumes, as the outlook chan
Slide 14: Content
ERNST RUSS AG INVESTOR PRESENTATION Content 1 Ernst Russ at a glance 2 Q1 2025 3 Market Update 4 Company Update
Slide 15: Progress along our strategic goals
ERNST RUSS AG INVESTOR PRESENTATION 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 Relations measu
Slide 16: Share and Investor Relations
ERNST RUSS AG INVESTOR PRESENTATION Share and Investor Relations Shareholder Structure Research Coverage 24.7% Quirin Research („Buy“, target price 10.00 EUR) 33.7 m 38.5% mwb Research (Initital Study published in April, target Number price 10.00 EUR) of shares Döhle Group More to come … J.P.&J.D. D
Slide 17: Döhle Group – Strong Partner
ERNST RUSS AG INVESTOR PRESENTATION 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 exclusive
Slide 18: Forecast and strategic focus for 2025
ERNST RUSS AG INVESTOR PRESENTATION Forecast and strategic focus for 2025 Strategic focus for 2025 EUR 147-167 m 97.5 % Revenue Utilization Continue successful capital allocation in volatile markets Thereof contracted: Increase investor relations activities and visibility of the EUR 145.5 m share Re
Slide 19: Disclaimer
ERNST RUSS AG INVESTOR PRESENTATION 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 following co
Slide 20: 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