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PRESS RELEASE: Ernst Russ AG Half-Year Report: Consistent pursuit of strategy as an asset and investment manager

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DGAP-News: Ernst Russ AG / Key word(s): Half Year Results
Ernst Russ AG Half-Year Report: Consistent pursuit of strategy as an asset
and investment manager

2019-09-17 / 08:00
The issuer is solely responsible for the content of this announcement.

*Ernst Russ AG Half-Year Report: Consistent pursuit of strategy as an asset
and investment manager*

· - Significant expansion of investment activities in the Shipping and
Real Estate segments

· - Disposal of Investor Management and Solar segments

*Hamburg, 17 September 2019*: In the first half of 2019, we made additional
important investments in both our core business areas, Shipping and Real
Estate. In the Shipping segment, the fleet was expanded through the
acquisition of the majority shareholding in a ship portfolio comprising a
handymax bulker and a 3,100 TEU container ship, as well as the acquisition
of a 4,200 TEU container ship.

The 'ElbFeeder' joint venture, which is already established in the Shipping
segment, operates seven feeder class vessels, which make a significant
contribution to the performance of the Ernst Russ Group. This joint venture
will be fully consolidated from August 2019. "We consider the opportunities
arising from our strategy, and its optimisation on a regular basis. Our
strategic partnerships, like the 'ElbFeeder' joint venture, play a crucial
role for our portfolio in this respect. We also look into opportunities to
engage in strategic partnerships in the Real Estate segment", adds Robert
Gärtner, Executive Board of Ernst Russ AG.

In February 2019, the Ernst Russ Group Real Estate segment acquired three
project sites in ILO Park, Pinneberg, together with a joint venture partner
for the construction of around 75 subsidised housing units. This was
followed in August by the acquisition of a property in Bad Oldesloe, also as
part of a joint venture, on which a total of 136 residential units will be
built from 2020 on.

The disposal of both its Investor Management and Solar businesses has
allowed the group of companies to make an essential step forward in the
stabilization of its business model as an asset and investment manager.

Investments made in the first half of 2019 led to an increase in total
equity and liabilities of EUR 14.1 million to EUR 117.5 million. Despite a
consolidated net loss of EUR -0.6 million in the first half of the year,
which was influenced by one-off effects, equity was up from EUR 51.1 million
to EUR 58.5 million. This again produced an increased equity ratio of 49.8

The half-year performance of Ernst Russ AG is attributable mainly to the
streamlining of the Group's structure, which will enhance its ability to act
effectively and in a flexible manner in the asset investment and management
segment in the long term.

The Ernst Russ AG 2019 Half-Year Report can be downloaded from
www.ernst-russ.de [1].

*About the Ernst Russ Group:* Ernst Russ AG is an internationally operating
listed asset and investment manager with a focus on the shipping and real
estate asset classes. The Ernst Russ Group currently manages a fleet of
around 80 container ships, tankers, bulk carriers and other vessels as well
as 40 properties at 28 sites. www.ernst-russ.de [1]

Ernst Russ AG
Anika Hillmer
Investor Relations
Tel. +49 40 88 88 1 1800
E-Mail: ir@ernst-russ.de

2019-09-17 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Archive at www.dgap.de
Language: English
Company: Ernst Russ AG
Elbchaussee 370
22609 Hamburg
Phone: +49 (0)40 88881-0
Fax: +49 (0)40 88881-199
E-mail: ir@ernst-russ.de
Internet: www.ernst-russ.de
ISIN: DE000A161077
WKN: A16107
Listed: Regulated Unofficial Market in Frankfurt (Scale), Hamburg,
Tradegate Exchange
EQS News ID: 874615

End of News DGAP News Service

874615 2019-09-17

1: https://link.cockpit.eqs.com/cgi-bin/fncls.ssp?fn=redirect&url=78afba999421e914faba0ebe7aa75784&application_id=874615&site_id=vwd&application_name=news

(END) Dow Jones Newswires

September 17, 2019 02:00 ET ( 06:00 GMT)

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