ERNST RUSS AG ERNST RUSS AG
2022 ANNUAL REPORT
TABLE OF CONTENTS | Ernst Russ AG | Annual Report 2022 |
TABLE OF CONTENTS
Introduction by the Executive Board | 8 | |
Supervisory Board report | 10 | |
Share and investor relations | 24 | |
1. | Combined management report of Ernst Russ AG and the Group for the 2021 financial year | 28 |
1.1. | Foundations of the Group and Ernst Russ AG | 29 |
I. | Business operations | 29 |
II. | Financial report | 32 |
1.2. | Assets, financial position and earnings | 34 |
I. | Assets | 34 |
II. | Financial position | 38 |
III. | Earnings | 39 |
IV. | Overall statement on the course of business | 41 |
V. | Assets, financial position and earnings of Ernst Russ AG and outlook | 42 |
1.3. | Personnel | 46 |
1.4. | Opportunities and risks | 46 |
I. | Risk management system | 46 |
II. | Opportunities | 48 |
III. | Risks | 51 |
1.5. Forecast | 57 | |
1.6. Other disclosures | 59 | |
Declaration by the Executive Board in accordance with Section 312 (3) of the German Stock Corporation Act (AktG) | 59 | |
2. | Consolidated financial statements of Ernst Russ AG for the 2021 financial year | 60 |
3. | Notes to the consolidated financial statements of Ernst Russ AG for the 2021 financial year | 68 |
4. | Independent auditor's report | 94 |
2
Annual Report 2022 | Ernst Russ AG | KEY FIGURES |
KEY FIGURES
EARNINGS
Revenue
Operating earnings*
Earnings before taxes (EBT)
Profit attributable to non-controlling interests
Consolidated net income after non-controlling interests
Earnings per share**
- Determined in accordance with economic criteria. ** The company does not hold any treasury shares.
UNIT
EUR million
EUR million
EUR million
EUR million
EUR million
EUR
2022
191.7
90.1
84.3
36.6
47.3
1.46
2021
92.3
30.8
26.7
10.5
15.8
0.49
CHANGE IN %
> 100.0
> 100.0
> 100.0
> 100.0
> 100.0
0.97 EUR
BALANCE SHEET | UNIT | 31/12/2022 | 31/12/2021 | |
Total equity and liabilities | EUR million | 283.3 | 263.7 | |
Ship assets shown on the balance sheet | EUR million | 195.9 | 210.2 | |
Equity | EUR million | 207.5 | 142.8 | |
Equity ratio | % | 73.2 | 54.2 | |
Cash at hand and bank balances | EUR million | 57.8 | 26.4 |
*** Includes down payments made on assets in the course of construction.
CHANGE IN %
7.4
-6.8
45.3
19.0 percentage points
- 100.0
EMPLOYEES
Average employee capacity (total)
Average employee capacity (shore-based)
Personnel expenses
(not including maritime personnel)
Personnel expense ratio
(not including maritime personnel)
UNIT
Full-time equivalent
Full-time equivalent
EUR million
%
2022
83
38
4.8
2.5
2021
42
41
5.0
5.4
CHANGE IN %
97.6
-7.3
-4.0
-2.9 percentage points
KEY FIGURES SPECIFIC TO VESSELS
Number of fully consolidated vessels
Capacity
Capacity
Average charter rate
Technical availability
Employment ratio
UNIT | 31/12/2022 | 31/12/2021 |
29 | 30 | |
TEU | 49,113 | 47,940 |
DWT | 684,883 | 670,981 |
UNIT | 2022 | 2021 |
USD/day | 19,057 | 15,038 |
% | 96.1 | 97.9 |
% | 95.7 | 97.9 |
CHANGE
-1 vessel
1,173 TEU
13,902 DWT
CHANGE
4,019 USD
-1.8 percentage points
-2.2 percentage points
3
KEY FACTS 2022 | Ernst Russ AG | Annual Report 2022 |
AT A
GLANCE
As an international ship-owner and maritime investment manager, we regularly expand our fleet and secure stable
and sustainable earnings and added value for investors and shareholders.
29
Vessels
(fully consolidated) 31/12/2022
19,05USD/ 7
DAY
Average charter rate for the ER fleet in 2022
49,113 TEU
Container capacity of the ER fleet
31/12/2022
683,883 DWT
Capacity of the ER fleet
31/12/2022
96.1 %
Technical availability of the
ER fleet in 2022
17.4 MONTHS
Average remaining term
of charterparties as at 31/12/2022
4
Annual Report 2022 | Ernst Russ AG | KEY FACTS 2022 |
1893
Establishment of traditional
ship-owner Ernst Russ
2005
Listed since 2005
(Frankfurt Stock Exchange,
Hanseatic Stock Exchange Hamburg)
2017
Listing in Scale segment of the
Frankfurt Stock Exchange
8,300
shareholders as at 31/12/2022
32,434,030
Number of shares
39
Shore-based employees
31/12/2022
43
Seafarers
31/12/2022
73.2 %
Equity ratio 31/12/2022
191. 7 EUR
MILLION
Revenue 2022
195. 9 EUR
MILLION
Own ship assets
(carrying amount) 31/12/2022
5
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Disclaimer
Ernst Russ AG published this content on 22 March 2023 and is solely responsible for the information contained therein. Distributed by Public, unedited and unaltered, on 22 March 2023 06:50:00 UTC.
