Ernst Russ - Catching the tailwinds
In H121, Ernst Russ (ERAG) continued its fleet expansion with the acquisition of two multipurpose vessels, bringing the number of majority owned ships to 18. It also sold the Bremen Fund management subsegment, decreasing its assets under management (AUM) in the management services segment, by €0.2bn to €0.6bn at end-June 2021. On the back of robust market environment for container shipping and healthy operational performance, management introduced the FY21 guidance with targeted revenues ranging from €85m to €90m and EBIT between €24m and €26m (compared to €55.6m and €2.3m in FY20, respectively).
Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.
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