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Ernst Russ (HXCK)

Business description

Ernst Russ (formerly HCI Group) is a listed asset and investment manager, with AUM of c €6.5bn, focused on shipping. The group was transformed in 2016 by the acquisitions of Ernst Russ Reederei and König & Cie, positioning it as a provider of a full range of services including technical and commercial ship management.

Stock data

Market cap.€30.5m
Last close€0.94
High / Low (52 weeks)€1.7 / €0.9
Stock market listingDB
Forecast net debt (m)N/A
Forecast gearing ratio (%)N/A
TeamFinancials
SectorFinancials

Price performance

%1m3m12m
Actual(8.7)(20)(44.4)
Relative *(9.1)(19.5)(43.6)

* % Relative to local index

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Company news

Investment summary

Ernst Russ (ERAG) continued its efforts towards a strategic shift, with real estate (revenues grew by c five times y-o-y in FY17) and shipping (sales up 8.1% y-o-y) acting as the key drivers post acquisition. Management guided to modest revenue growth powered by ship and asset management, and real estate but flat operating earnings in FY18 vs FY17 (€3.9m). Due to the previous volatility in shipping markets and lack of immediate earnings momentum implied by current management guidance, ERAG’s market cap/AUM ratio continues to lag the peer average.

Last updated on 13/06/2018

Key management

Jens Mahnke, CEO
Ingo Kuhlmann, CFO

Company address

Elbchaussee 370
Hamburg
22609
Germany
+49-40-888810
View website