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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.€28.4m
Last close€0.88
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(6.4)(10.2)(43.9)
Relative *0.5(0.5)(32.2)

* % Relative to local index

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Company news

Investment summary

Ernst Russ (ERAG) is making steady progress in repositioning as an asset and investment manager and asset investor, with the legacy business representing around 40% of the group’s operations at end-June 2018 compared with 80% in 2016. However, ERAG’s assets under management (AUM) increased only slightly to €6.1bn in H118, as new investments (especially in fleet expansion) were offset by disposals. Management reaffirmed the earlier FY18 guidance of at least 10% y-o-y revenue growth and operating profit close to the FY17 figure of €3.9m.

Last updated on 28/09/2018

Key management

Jens Mahnke, CEO
Ingo Kuhlmann, CFO

Company address

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