In H120, Ernst Russ (ERAG) recorded a 39% increase in revenues, mainly driven by the accounting effect of the full consolidation of the Elbfeeder JV, following the acquisition of an additional 2% stake in July 2019. The positive impact from expanding ERAG’s own fleet to 14 vessels, which more than doubled the income in the shipping segment, was partially offset by the disposals of non-core activities as part of streamlining the business. Together with the headcount reduction and other c
25 Sep 2020
Ernst Russ - Ship utilisation remains high
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Ernst Russ - Ship utilisation remains high
Ernst Russ AG (HXCK:ETR) | 0 0 0.0% | Mkt Cap: 47.9m
- Published:
25 Sep 2020 -
Author:
Milosz Papst -
Pages:
6
In H120, Ernst Russ (ERAG) recorded a 39% increase in revenues, mainly driven by the accounting effect of the full consolidation of the Elbfeeder JV, following the acquisition of an additional 2% stake in July 2019. The positive impact from expanding ERAG’s own fleet to 14 vessels, which more than doubled the income in the shipping segment, was partially offset by the disposals of non-core activities as part of streamlining the business. Together with the headcount reduction and other c