Ernst Russ AG continues to consistently pursue its strategic course

2026 guidance adjusted, two further tanker newbuildings acquired

• EBIT guidance for 2026 raised to EUR 55–65 million (previously: EUR 45–55 million)
• Revenues guidance for 2026 narrowed to EUR 150–160 million (previously: EUR 145–160 million)
• Sale of the container vessel MV “EF Emma”
• Ernst Russ AG’s tanker fleet grows to six vessels with two additional newbuildings
• Delivery of both tanker newbuildings in 2026, charter of at least three years with Cargill, charter backlog increases by approximately USD 38.3 million

Hamburg, 9 September 2026 – As the company announced today via ad-hoc disclosure, it has adjusted its guidance for the full year 2026. Forecast operating result (EBIT) is now expected in a range of EUR 55 to 65 million (previously: EUR 45 to 55 million). Expected revenues are now anticipated in a range of EUR 150 to 160 million (previously: EUR 145 to 160 million).

The upward revision of the EBIT guidance results from the strategy-compliant sale, also reported in this context today, of the 1,710 TEU container vessel MV “EF Emma,” built in 2008 and operated in a joint venture with the Icelandic shipping company Eimskip. Handover of the vessel is scheduled for the fourth quarter of 2026. The parties have agreed not to disclose the purchase price or further details of the transaction. The revised forecast for the revenues results from predominantly already concluded charter agreements. The revised forecast is further based on the positive business performance in the current financial year 2026, a utilisation of the Ernst Russ Group’s fleet in line with planning of approximately 97%, an unchanged economic environment, as well as the assumption of an average exchange rate for the remaining financial year of USD/EUR 1.18. Further future vessel sales are not included in the revised forecast.

In addition, Ernst Russ AG is further expanding its tanker segment. Beyond the four IMO Type II chemical/product tankers of the Intermediate class (18,500 dwt) acquired in April 2026, the Hamburg-based shipowner has agreed to acquire two further sister vessels. This brings the fleet of this vessel type to a total of six units. Delivery of the first vessel is expected in the coming days, with the second vessel to follow by the end of 2026.

Like the four tankers already acquired, the two new vessels are being built at Wuhu Shipyard Co., Ltd. in China. The vessels feature twelve MarineLINE-coated tanks, enabling the transport of a wide range of cargoes, from vegetable oils to petroleum products and chemicals. Their methanol-ready design also meets current ESG requirements, while their Ice Class 1B and Great Lakes suitability open up access to niche markets with attractive rate structures.

A charter of at least three years from delivery has been agreed with Cargill for both vessels. Together with the five-year contracts for the first four units, this results in a deliberately staggered maturity profile as well as a targeted diversification of contracting parties in the tanker segment. The staggering spreads future renewal negotiations over several years, reduces re-chartering risk, and creates flexibility to benefit from rate increases. As part of this transaction, the charter backlog increases by a further approximately USD 38.3 million. Financing for both vessels has been secured on attractive terms.

With the expansion of the tanker segment, the Hamburg-based shipowner continues to consistently pursue the strategic cornerstones it defined at the beginning of the year for 2026. These include diversifying and modernizing the fleet, increasing the charter backlog, and enhancing the visibility of the Ernst Russ share in the capital markets. Following its entry into the tanker segment in April, Ernst Russ underscores the consistency of its transformation strategy with this expansion. The two additional newbuildings further increase the charter backlog and secure additional long-term cashflows for the Group. The sale of MV “EF Emma” likewise forms part of these strategy-compliant measures and further drives the ongoing development and renewal of the fleet portfolio.

“The increase in our EBIT guidance results primarily from the sale of the EF Emma, through which we are strategically developing our existing portfolio. The narrowing of our revenue guidance further reflects the planned course of the current financial year,” says Dr Christopher Eilers, Co-CEO and Chief Financial Officer of Ernst Russ AG. “With the expansion of our tanker segment, we are consistently continuing our growth strategy. The tanker market remains a segment with structural attractiveness and long-term value creation potential for us. The three-year fixed charters for the two new vessels are deliberately staggered against the five-year contracts for the first four units, spreading out future renewal negotiations and securing flexibility for us,” adds Joseph Schuchmann, Co-CEO and Chief Commercial Officer of Ernst Russ AG.

About Ernst Russ AG: Ernst Russ AG is a publicly listed shipowner based in Hamburg, with roots tracing back to 1893. The goal is to operate a sustainable and well-diversified fleet with a balanced risk distribution in terms of employment durations and counterparties. The existing fleet comprises container vessels of various size classes, complemented by multipurpose vessels and a handysize bulker. In addition, the group holds an acquisition pipeline with newbuildings scheduled for delivery in the coming years, which will strategically advance the fleet’s development.

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