Ernst Russ’ Earnings Rise amid Restructuring

German asset and investment management company Ernst Russ informed that its first half of 2017 financial performance was in line with expectations.

Revenue for the first half of 2017 increased year-on-year from EUR 17 million to EUR 20.8 million. Revenue in the shipping management more than doubled from EUR 4.1 million to EUR 8.6 million.

As operating earnings increased to EUR 2.1 million from last year’s EUR 0.6 million, and net income was at EUR 3.1 million, against EUR 0.8 million seen in the first half of 2016, the company said that its “positive trend of recent years has continued.”

Ernst Russ explained that the basis for an improvement in performance is the strategic, systematic restructuring of the company.

“By establishing the new companies Pareto Holding GmbH, Ernst Russ Maritime Management GmbH & Co. KG and EFS Elbe Financial Solutions GmbH, the group can open up exciting new areas of business and complete more transactions in corporate finance and maritime assets,” the company informed.

Ernst Russ expects the financial position and financial performance to develop according to plan over the remainder of the financial year and close with positive operating earnings on at least the same level as the previous year.

Share this article

Follow World Maritime News

In Depth>

Events>

<< May 2019 >>
MTWTFSS
29 30 1 2 3 4 5
6 7 8 9 10 11 12
13 14 15 16 17 18 19
20 21 22 23 24 25 26
27 28 29 30 31 1 2

Global Sustainable Shipping Forum 2019

The event will provide valuable insights from conference sessions, great networking opportunities and will offer…

read more >

FPSO Brazil Congress 2019

Charging ahead with 24 planned orders by 2022, Brazil has once again solidified its status as one of the world’s foremost oil and gas leaders…

read more >

Nor-Shipping 2019

Nor-Shipping’s conference and event programme is tailored to deliver the knowledge, value and networking to help you build your business.

read more >

Electric & Hybrid Marine World Expo Conference 2019

Electric & Hybrid Marine World Expo Conference is the world’s only international conference…

read more >