Ernst Russ AG Receives "Buy" Rating Amid Strategic Moves

Quirin Privatbank Kapitalmarktgeschäft has updated its recommendation for Ernst Russ AG to a "Buy" with a target price of EUR 11.00. The company has strategically refined its FY25 guidance and reported solid results for the first nine months of 2025. Despite a 5% year-on-year revenue decline in Q3, EBIT stood at EUR 22.1 million, maintaining a favorable margin of 56.1% due to high charter rates.

Ernst Russ has increased its stake in a joint venture and other assets, reducing the fleet’s minority stakes from approximately 40% to 25%. This investment is part of a broader strategy to enhance portfolio transparency, expected to require around EUR 34 million. The company's EBIT forecast for FY25 is EUR 84.8 million, up 19.4% from the previous year, factoring in capital gains from vessel sales.