Ernst Russ AG Reports Resilient Performance Amid Sector Challenges

Ernst Russ AG has released positive financial results for the first nine months of 2024, despite ongoing challenges in the shipping industry. The group's revenue fell by EUR 20.2 million from the previous year, resulting in EUR 129.1 million due to a drop in average daily charter rates. Nevertheless, the company achieved an operating result (EBIT) of EUR 51.3 million and consolidated net income of EUR 33.9 million.

The ER Group owns 29 ships, primarily container vessels, achieving a 96.6% operational rate out of a possible 8,061 days. The ER Group forecasts revenues between EUR 155 million and EUR 175 million for the fiscal year, indicating robust asset management.