Leading International Investment Research, Edison Investment Research

Edison Investment Research

Leading International Investment Research

Edison is an investment research and advisory company, with offices in North America, Europe, the Middle East and AsiaPac. The heart of Edison is our world renowned equity research platform and deep multi-sector expertise. At Edison Investment Research, our research is widely read by international investors, advisors and stakeholders. Edison Advisors leverages our core research platform to provide differentiated services including investor relations and strategic consulting.

Equity Bottom-Up

<p>Ernst Russ (ERAG) continued its efforts related to the shift in strategy, with the key drivers of the new group post acquisition being ship management (revenues more than doubled y-o-y in H117) and asset management (sales up 35.2% y-o-y). Management maintained its guidance for 2017 operating earnings at least in line with FY16 (&euro;3.3m), amid some recovery in the container ships and bulker markets. ERG&rsquo;s market cap/AUM ratio remains below the peer average, suggesting investor caution partly related to ongoing volatility in shipping markets.</p>

Ernst Russ (ERAG) continued its efforts related to the shift in strategy, with the key drivers of the new group post acquisition being ship management (revenues more than doubled y-o-y in H117) and asset management (sales up 35.2% y-o-y). Management maintained its guidance for 2017 operating earnings at least in line with FY16 (&euro;3.3m), amid some recovery in the container ships and bulker markets. ERG&rsquo;s market cap/AUM ratio remains below the peer average, suggesting investor caution partly related to ongoing volatility in shipping markets.

Preparing for a rebound in maritime market

<p>In the past 18 months Ernst Russ (ERAG) (formerly HCI) has been transformed into an investment and asset manager focused on the maritime sector. The 2016 acquisitions of K&#246;nig & Cie, Ernst Russ Reederei and WestFonds have completed the group&#8217;s full service ship management offering and built scale in asset management and trustee services. The group&#8217;s ability to win new investment and asset management mandates across a range of asset classes should be significantly enhanced, offsetting the drag of legacy closed end (KG) fund run-off. A recovery in shipping markets would have a strong positive effect on the group&#8217;s consolidated earnings. </p>

In the past 18 months Ernst Russ (ERAG) (formerly HCI) has been transformed into an investment and asset manager focused on the maritime sector. The 2016 acquisitions of K&#246;nig & Cie, Ernst Russ Reederei and WestFonds have completed the group&#8217;s full service ship management offering and built scale in asset management and trustee services. The group&#8217;s ability to win new investment and asset management mandates across a range of asset classes should be significantly enhanced, offsetting the drag of legacy closed end (KG) fund run-off. A recovery in shipping markets would have a strong positive effect on the group&#8217;s consolidated earnings. 

Germany

Ernst Russ AG operates as an asset and investment management firm. The Company focuses its investments on maritime.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Ernst Russ AG (HXCK GR)

Preparing for a rebound in maritime market

Ernst Russ (ERAG) continued its efforts related to the shift in strategy, with the key drivers of the new group post acquisition being ship...

Edison Investment Research

Maritime investment solutions

In the past 18 months Ernst Russ (ERAG) (formerly HCI) has been transformed into an investment and asset manager focused on the maritime sector....

Edison Investment Research

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)