DGAP-Adhoc: Ernst Russ AG raises forecast for fiscal year 2022

Hamburg, 28 March 2022: Executive and Supervisory Board of Ernst Russ AG (ISIN DE000A161077) have resolved today to sell the container vessel MS "Music" with a container capacity of 804 TEU, which was built in 2007. The Ernst Russ Group holds a 55 % stake in the MS "Music" shipping company. The vessel is scheduled for delivery in April 2022.

The transaction will result in a gain on disposal of about EUR 12.3 million in the consolidated financial statements of Ernst Russ AG. For the vessel, revenues of around EUR 4.6 million and an EBIT contribution of around EUR 2.5 million were forecast for the 2022 financial year from the time of sale. Overall, against this backdrop, the Executive Board of Ernst Russ AG can today raise its previous forecast to the effect that an EBIT of between EUR 72 und 77 million (previously: range between EUR 62 und 67 million) is now expected for the full year 2022. The minority shareholders participate in this transaction in proportion to their shareholding. The expectations with regard to all other forecast key figures have not changed.