Cash flow Ernst Russ AG

Stocks

HXCK

DE000A161077

Investment Management & Fund Operators

Market Closed - Xetra 19:35:15 21/08/2026 +04			5-day change	1st Jan Change
7.960 ^EUR	+2.05%		+1.27%	+14.37%

06-25	Ernst Russ AG Presents at Deutsche Börse Scale Summit, Jun-23-2026 10:30 AM
05-29	Ernst Russ AG Reports Earnings Results for the First Quarter Ended March 31, 2026	CI

5394000734699ef9c1af.kwgnHaM4hvyQHGFdfnm2B8A3mJ6Gs38f0cDTSCIGhbQ.omVMSMh605LKagcQMDqGVPB1z-jF0kot4bKAfkxlqPOqSWVx4lyxsOldVQ

Published financial data: ERNST RUSS AG

Annual

Quarterly

Halfyear

YTD

LTM

Fiscal Period: December	2021	2022	2023	2024	2025
Revenues	92.28M	192M	203M	173M	158M
Other Revenues, Total	81K	6.18M	-	-	-
Total Revenues	92.37M	198M	203M	173M	158M
Cost of Goods Sold, Total	49.11M	85.56M	90.79M	84.64M	71.86M
Gross Profit	43.26M	112M	112M	88.07M	86.2M
Selling General & Admin Expenses, Total	14.03M	24.77M	20.47M	17.5M	35.35M
Depreciation & Amortization - (IS)	8.35M	32.19M	31.98M	27.38M	27.1M
Other Operating Expenses	-1.93M	-1.95M	-4.34M	-7.18M	-12.56M
Other Operating Expenses, Total	20.44M	55M	48.1M	37.69M	49.89M
Operating Income	22.82M	57.36M	63.78M	50.38M	36.31M
Interest Expense, Total	-2.89M	-2.84M	-1.28M	-1.45M	-1.28M
Interest And Investment Income	2.92M	2.88M	3.49M	4.18M	4.31M
Net Interest Expenses	23K	36K	2.22M	2.74M	3.03M
Income (Loss) On Equity Invest.	92K	-	-	-	-
Currency Exchange Gains (Loss)	2.4M	5.24M	2.86M	5.95M	5.43M
Other Non Operating Income (Expenses)	-632K	-	-	-	-
EBT, Excl. Unusual Items	24.69M	62.64M	68.85M	59.06M	44.77M
Impairment of Goodwill	-	-	-	-	-
Gain (Loss) On Sale Of Investments	-420K	-1.31M	-3.39M	-208K	-31K
Gain (Loss) On Sale Of Assets	-	20.75M	15.73M	1.88M	42.86M
Asset Writedown	-	-	-	-	-3.17M
Insurance Settlements	2.16M	2.24M	1.05M	12.81M	10.69M
Other Unusual Items	272K	-	-	-	-
EBT, Incl. Unusual Items	26.7M	84.32M	82.24M	73.54M	95.11M
Income Tax Expense	414K	413K	598K	1.76M	-4.69M
Earnings From Continuing Operations	26.29M	83.9M	81.64M	71.78M	99.81M
Net Income to Company	26.29M	83.9M	81.64M	71.78M	99.81M
Minority Interest	-10.51M	-36.64M	-26.56M	-29.31M	-26.33M
Net Income - (IS)	15.78M	47.27M	55.08M	42.47M	73.48M
Net Income to Common Incl Extra Items	15.78M	47.27M	55.08M	42.47M	73.48M
Net Income to Common Excl. Extra Items	15.78M	47.27M	55.08M	42.47M	73.48M
Per Share Items
Net EPS - Basic	0.49	1.46	1.66	1.26	2.18
Basic EPS - Continuing Operations	0.49	1.46	1.66	1.26	2.18
Basic Weighted Average Shares Outstanding	32.43M	32.37M	33.18M	33.69M	33.69M
Net EPS - Diluted	0.49	1.46	1.66	1.26	2.18
Diluted EPS - Continuing Operations	0.49	1.46	1.66	1.26	2.18
Diluted Weighted Average Shares Outstanding	32.43M	32.37M	33.18M	33.69M	33.69M
Normalized Basic EPS	0.15	0.08	0.5	0.23	0.05
Normalized Diluted EPS	0.15	0.08	0.5	0.23	0.05
Dividend Per Share	-	0.2	1	0.2	0.25
Payout Ratio	-	-	3.42	76.52	9.17
Supplemental Items
EBITDA	31.17M	89.55M	95.76M	76.5M	66.59M
EBITA	23.6M	58.33M	64.55M	51.15M	36.86M
EBIT	22.82M	57.36M	63.78M	50.38M	36.31M
EBITDAR	31.83M	90.24M	96.42M	-	67.26M
Effective Tax Rate - (Ratio)	1.55	0.49	0.73	2.39	-4.94
Total Current Taxes	408K	296K	430K	1.17M	1.6M
Total Deferred Taxes	6K	117K	168K	593K	-6.29M
Normalized Net Income	4.92M	2.51M	16.47M	7.61M	1.65M
Non-Cash Pension Expense	36.7K	30K	30K	30K	30K
Supplemental Operating Expense Items
General and Administrative Expenses	8.24M	15.08M	10.8M	9.1M	27.08M
Net Rental Expense, Total	664K	690K	667K	-	668K
Imputed Operating Lease Interest Expense	220K	381K	2.46M	-	3.49M
Imputed Operating Lease Depreciation	444K	309K	-1.79M	-	-2.82M

Fiscal Period: December	2021	2022	2023	2024	2025
Assets
Cash And Equivalents	26.36M	57.75M	67.3M	111M	114M
Total Cash And Short Term Investments	26.36M	57.75M	67.3M	111M	114M
Accounts Receivable, Total	3.15M	4.98M	2.71M	2.12M	2.41M
Other Receivables	106K	57K	168K	176K	16K
Total Receivables	3.26M	5.03M	2.88M	2.29M	2.43M
Inventory	1.41M	1.73M	2.46M	2.29M	1.33M
Restricted Cash	3.38M	1.04M	-	-	-
Other Current Assets, Total	6.26M	9.11M	8.1M	6.89M	3.24M
Total Current Assets	40.68M	74.66M	80.74M	122M	121M
Gross Property Plant And Equipment	228M	243M	329M	325M	344M
Accumulated Depreciation	-20.13M	-50.36M	-77.73M	-101M	-116M
Net Property Plant And Equipment	208M	193M	251M	224M	228M
Long-term Investments	4.73M	6.79M	3.17M	3M	4.24M
Goodwill	2.2M	1.61M	1.02M	428K	0
Other Intangibles, Total	587K	592K	508K	341K	313K
Loans Receivable Long-Term	2.32M	-	-	-	1.16M
Deferred Tax Assets Long-Term	542K	513K	389K	171K	-
Other Long-Term Assets, Total	4.68M	6.29M	3.63M	5.18M	15.14M
Total Assets	264M	283M	340M	355M	370M
Liabilities
Accounts Payable, Total	4.54M	5.07M	3.4M	2.83M	3.49M
Accrued Expenses, Total	1.53M	3.22M	2.51M	1.78M	1.72M
Current Portion of Long-Term Debt	36.11M	399K	207K	2.07M	207K
Current Income Taxes Payable	735K	741K	978K	1.28M	1.91M
Unearned Revenue Current, Total	-	-	-	-	-
Other Current Liabilities	7.27M	45.92M	56.7M	68.16M	43.41M
Total Current Liabilities	50.18M	55.36M	63.79M	76.12M	50.74M
Long-Term Debt	43M	2.86M	2.07M	-	1.65M
Unearned Revenue Non Current	1.66M	9.3M	7.06M	4.63M	-
Pension & Other Post Retirement Benefits	1.5M	1.3M	1.18M	1.04M	942K
Deferred Tax Liability Non Current	5.63M	5.72M	5.76M	6.3M	-
Other Non Current Liabilities	18.91M	1.26M	335K	546K	23.94M
Total Liabilities	121M	75.78M	80.18M	88.63M	77.27M
Common Stock, Total	32.43M	32.43M	33.5M	33.69M	33.69M
Retained Earnings	31.99M	79.26M	128M	137M	204M
Comprehensive Income and Other	7.73M	6.33M	9.33M	10.33M	11.01M
Total Common Equity	72.15M	118M	171M	181M	248M
Minority Interest	70.67M	89.48M	89.41M	85.53M	44.54M
Total Equity	143M	207M	260M	266M	293M
Total Liabilities And Equity	264M	283M	340M	355M	370M
Supplemental Items
ECS Total Shares Outstanding on Filing Date	32.43M	32.43M	33.5M	33.69M	33.69M
ECS Total Common Shares Outstanding	32.43M	32.43M	33.5M	33.69M	33.69M
Book Value / Share	2.22	3.64	5.09	5.37	7.37
Tangible Book Value	69.36M	116M	169M	180M	248M
Tangible Book Value Per Share	2.14	3.57	5.05	5.35	7.36
Total Debt	79.11M	3.26M	2.27M	2.07M	1.86M
Net Debt	52.75M	-54.49M	-65.03M	-109M	-112M
Debt Equivalent Oper. Leases	5.31M	5.52M	5.34M	-	5.34M
Minority Interest, Total (Incl. Fin. Div)	70.67M	89.48M	89.41M	85.53M	44.54M
Equity Method Investments, Total	1.12M	1.12M	701K	689K	1.32M
Account Code - Inventory Valuation	6	6	6	6	6
Inventories - Raw Materials, Total	-	-	-	-	-
Inventories - Work In Process, Total	-	-	-	-	-
Inventories - Finished Goods, Total	-	-	-	-	-
Buildings, Total	257K	257K	257K	257K	257K
Machinery, Total	228M	243M	328M	325M	344M
Full Time Employees	41	83	79	72	56

Fiscal Period: December	2021	2022	2023	2024	2025
Net Income	15.78M	47.27M	55.08M	42.47M	73.48M
Depreciation & Amortization - CF	7.57M	31.22M	31.21M	25.35M	29.72M
Amortization of Goodwill and Intangible Assets - (CF)	782K	965K	772K	768K	553K
Depreciation & Amortization, Total	8.35M	32.19M	31.98M	26.12M	30.28M
(Gain) Loss From Sale Of Asset	2.82M	-21.09M	-15.75M	-2M	-18.77M
(Gain) Loss on Sale of Investments - (CF)	333K	1.28M	3.33M	208K	31K
Asset Writedown & Restructuring Costs	-	-	-	-	-2.25M
Provision for Credit Losses	-	-	-	-	-
Other Operating Activities, Total	12.07M	34.16M	24.08M	23.63M	5.82M
Change In Inventories	-583K	-4.31M	2.35M	1.33M	2.27M
Change In Accounts Payable	-	5.75M	-5.51M	-1.69M	-458K
Change in Other Net Operating Assets	950K	3.5M	-5.38M	8.4M	-3.5M
Cash from Operations	39.72M	98.75M	90.18M	98.47M	86.9M
Capital Expenditure	-3.12M	-33.81M	-98.08M	-3.89M	-45.71M
Sale of Property, Plant, and Equipment	3K	45.8M	26.75M	5.03M	22.49M
Cash Acquisitions	6.46M	-2.37M	-6.56M	-	-
Divestitures	1.54M	1.23M	2.68M	750K	39.25M
Sale (Purchase) of Intangible assets	-330K	-189K	-33K	-5K	-97K
Investment in Marketable and Equity Securities, Total	-33.29M	-590K	112K	384K	3.61M
Other Investing Activities, Total	1.2M	2.52M	3.31M	4.24M	4.35M
Cash from Investing	-27.54M	12.6M	-71.82M	6.51M	23.9M
Long-Term Debt Issued, Total	52.82M	30.84M	35.7M	-	-
Total Debt Issued	52.82M	30.84M	35.7M	-	-
Long-Term Debt Repaid, Total	-42.44M	-103M	-22.61M	-13.42M	-13.42M
Total Debt Repaid	-42.44M	-103M	-22.61M	-13.42M	-13.42M
Issuance of Common Stock	909K	4.19M	1.87M	65K	105K
Repurchase of Common Stock	-	-	-	-	-
Common Dividends Paid	-	-	-1.88M	-32.5M	-6.74M
Common & Preferred Stock Dividends Paid	-	-	-1.88M	-32.5M	-6.74M
Other Financing Activities, Total	-4.88M	-12.61M	-20.38M	-20.35M	-75.9M
Cash from Financing	6.41M	-80.64M	-7.3M	-66.21M	-95.96M
Foreign Exchange Rate Adjustments	-930K	668K	-1.5M	4.6M	-11.16M
Miscellaneous Cash Flow Adjustments	-491K	-	-	-	-
Net Change in Cash	17.17M	31.38M	9.55M	43.37M	3.68M
Supplemental Items
Cash Interest Paid	3.31M	2.94M	1.6M	1.62M	840K
Cash Income Tax Paid (Refund)	632K	899K	1.98M	260K	-1.37M
Levered Free Cash Flow	26.59M	53.34M	-14.96M	65.24M	34.38M
Unlevered Free Cash Flow	28.4M	55.12M	-14.16M	66.15M	35.18M
Change In Net Working Capital	-9.24M	-21.07M	-12.11M	-12.44M	-28.02M
Net Debt Issued / Repaid	10.38M	-72.21M	13.09M	-13.42M	-13.42M

Fiscal Period: December	2021	2022	2023	2024	2025
Profitability
Return on Assets	6.68	13.11	12.78	9.06	6.26
Return on Total Capital	7.86	16.56	16.85	11.86	8.06
Return On Equity %	23.58	47.87	34.92	27.27	35.7
Return on Common Equity	24.34	49.64	38.16	24.16	34.25
Margin Analysis
Gross Profit Margin %	46.84	56.77	55.2	50.99	54.54
SG&A Margin	15.19	12.51	10.1	10.13	22.36
EBITDA Margin %	33.74	45.25	47.25	44.29	42.13
EBITA Margin %	25.55	29.47	31.85	29.61	23.32
EBIT Margin %	24.7	28.98	31.47	29.17	22.97
Income From Continuing Operations Margin %	28.46	42.39	40.28	41.56	63.14
Net Income Margin %	17.08	23.88	27.18	24.59	46.48
Net Avail. For Common Margin %	17.08	23.88	27.18	24.59	46.48
Normalized Net Income Margin	5.33	1.27	8.13	4.41	1.04
Levered Free Cash Flow Margin	28.79	26.95	-7.38	37.77	21.75
Unlevered Free Cash Flow Margin	30.75	27.85	-6.99	38.3	22.26
Asset Turnover
Asset Turnover	0.43	0.72	0.65	0.5	0.44
Fixed Assets Turnover	0.56	0.99	0.91	0.73	0.7
Receivables Turnover (Average Receivables)	34.8	47.17	52.74	71.61	69.8
Inventory Turnover (Average Inventory)	41.54	54.55	43.41	35.68	39.7
Short Term Liquidity
Current Ratio	0.81	1.35	1.27	1.6	2.39
Quick Ratio	0.59	1.13	1.1	1.48	2.3
Operating Cash Flow to Current Liabilities	0.79	1.78	1.41	1.29	1.71
Days Sales Outstanding (Average Receivables)	10.49	7.74	6.92	5.11	5.23
Days Outstanding Inventory (Average Inventory)	8.79	6.69	8.41	10.26	9.19
Average Days Payable Outstanding	29	20.41	16.89	13.5	16.28
Cash Conversion Cycle (Average Days)	-9.73	-5.98	-1.56	1.87	-1.86
Long Term Solvency
Total Debt/Equity	55.39	1.57	0.87	0.78	0.64
Total Debt / Total Capital	35.65	1.55	0.87	0.77	0.63
LT Debt/Equity	30.11	1.38	0.79	-	0.56
Long-Term Debt / Total Capital	19.37	1.36	0.79	-	0.56
Total Liabilities / Total Assets	45.84	26.75	23.56	24.97	20.88
EBIT / Interest Expense	7.89	20.17	49.98	34.84	28.3
EBITDA / Interest Expense	10.77	31.49	75.04	52.9	51.9
(EBITDA - Capex) / Interest Expense	9.69	19.6	-1.82	50.21	16.27
Total Debt / EBITDA	2.54	0.04	0.02	0.03	0.03
Net Debt / EBITDA	1.69	-0.61	-0.68	-1.42	-1.69
Total Debt / (EBITDA - Capex)	2.82	0.06	-0.98	0.03	0.09
Net Debt / (EBITDA - Capex)	1.88	-0.98	28.03	-1.5	-5.39
Growth Over Prior Year
Total Revenues, 1 Yr. Growth %	65.02	112.93	5.7	-14.78	-8.48
Gross Profit, 1 Yr. Growth %	134.57	156.29	5.37	-21.28	-2.12
EBITDA, 1 Yr. Growth %	257.86	184.85	13.92	-20.11	-15.99
EBITA, 1 Yr. Growth %	4.36K	152.64	24.44	-19.8	-28.94
EBIT, 1 Yr. Growth %	4.21K	148.46	22.96	-21.01	-30.01
Earnings From Cont. Operations, 1 Yr. Growth %	455.03	219.2	-2.69	-12.08	39.05
Net Income, 1 Yr. Growth %	282.08	199.61	16.54	-22.89	73
Normalized Net Income, 1 Yr. Growth %	201.36	-50.64	-1.89K	-53.8	-80.71
Diluted EPS Before Extra, 1 Yr. Growth %	305.34	197.96	13.7	-24.05	73
Accounts Receivable, 1 Yr. Growth %	46.54	57.9	-45.59	-21.86	14.04
Inventory, 1 Yr. Growth %	47.8	22.48	42.21	-6.8	-41.85
Net Property, Plant and Equip., 1 Yr. Growth %	73.53	-7.28	30.08	-10.8	1.84
Total Assets, 1 Yr. Growth %	61.42	7.42	20.12	4.33	4.24
Tangible Book Value, 1 Yr. Growth %	28.52	66.37	46.06	6.46	37.69
Common Equity, 1 Yr. Growth %	25.54	63	44.62	5.95	37.28
Cash From Operations, 1 Yr. Growth %	394.6	148.65	-8.68	9.2	-11.75
Capital Expenditures, 1 Yr. Growth %	-85.25	983.18	190.11	-96.03	1.07K
Levered Free Cash Flow, 1 Yr. Growth %	-196.17	22.39	-129.97	-536.17	68.85
Unlevered Free Cash Flow, 1 Yr. Growth %	-209.92	20.39	-127.4	-567.12	65.45
Dividend Per Share, 1 Yr. Growth %	-	-	400	-80	25
Compound Annual Growth Rate Over Two Years
Total Revenues, 2 Yr. CAGR %	24.9	88.04	47.66	-5.09	-11.69
Gross Profit, 2 Yr. CAGR %	28.91	146.84	59.74	-8.93	-12.22
EBITDA, 2 Yr. CAGR %	83.93	220.67	74.52	-4.6	-16.61
EBITA, 2 Yr. CAGR %	169.08	950.04	67.21	-0.7	-23.97
EBIT, 2 Yr. CAGR %	164.59	941.32	66.21	-1.45	-24.55
Earnings From Cont. Operations, 2 Yr. CAGR %	293.22	320.91	76.24	-7.51	10.57
Net Income, 2 Yr. CAGR %	222.27	238.34	86.86	-5.21	15.5
Normalized Net Income, 2 Yr. CAGR %	35.25	24.05	79.82	187.8	-68.36
Diluted EPS Before Extra, 2 Yr. CAGR %	222.27	248.81	84.06	-7.08	14.62
Accounts Receivable, 2 Yr. CAGR %	-2.08	52.11	-7.31	-34.8	-5.6
Inventory, 2 Yr. CAGR %	7.99	34.55	31.98	15.13	-26.38
Net Property, Plant and Equip., 2 Yr. CAGR %	41.41	26.85	9.82	7.72	-4.69
Total Assets, 2 Yr. CAGR %	33.16	31.68	13.59	11.95	4.29
Tangible Book Value, 2 Yr. CAGR %	25.31	46.49	55.88	24.7	21.07
Common Equity, 2 Yr. CAGR %	18.46	43.3	53.54	23.79	20.6
Cash From Operations, 2 Yr. CAGR %	80.07	250.69	50.68	-0.14	-1.83
Capital Expenditures, 2 Yr. CAGR %	-51.2	26.42	460.57	-66.06	-31.73
Levered Free Cash Flow, 2 Yr. CAGR %	88.19	38.89	-41.41	14.34	51.61
Unlevered Free Cash Flow, 2 Yr. CAGR %	75.53	46.06	-44.39	13.13	57.63
Dividend Per Share, 2 Yr. CAGR %	-	-	-	0	-50
Compound Annual Growth Rate Over Three Years
Total Revenues, 3 Yr. CAGR %	20.28	49.52	53.56	22.94	-6.23
Gross Profit, 3 Yr. CAGR %	12.86	62.82	82.38	26.18	-6.71
EBITDA, 3 Yr. CAGR %	31.75	113.42	122.36	34.5	-7.47
EBITA, 3 Yr. CAGR %	61.42	161.57	396	30.36	-10.76
EBIT, 3 Yr. CAGR %	59.62	160.12	394.01	29.71	-11.21
Earnings From Cont. Operations, 3 Yr. CAGR %	60.29	266.81	158.33	39.77	5.96
Net Income, 3 Yr. CAGR %	36.4	214.53	137.17	39.11	15.84
Normalized Net Income, 3 Yr. CAGR %	1.1	-2.25	116.03	14.32	21.53
Diluted EPS Before Extra, 3 Yr. CAGR %	36.8	214.73	140.05	37.03	14.32
Accounts Receivable, 3 Yr. CAGR %	-28.1	14.83	7.98	-12.44	-21.44
Inventory, 3 Yr. CAGR %	-41.17	12.62	37.05	17.53	-8.32
Net Property, Plant and Equip., 3 Yr. CAGR %	110.57	22.85	27.92	2.47	5.72
Total Assets, 3 Yr. CAGR %	36.62	23.96	27.71	10.42	9.32
Tangible Book Value, 3 Yr. CAGR %	23.71	37.89	46.34	37.28	28.89
Common Equity, 3 Yr. CAGR %	13.25	31.91	43.74	35.68	28.13
Cash From Operations, 3 Yr. CAGR %	243.14	100.52	123.94	35.35	-4.17
Capital Expenditures, 3 Yr. CAGR %	221.41	37.15	66.75	7.66	10.58
Levered Free Cash Flow, 3 Yr. CAGR %	24.95	92.23	-18.52	14.4	-11.68
Unlevered Free Cash Flow, 3 Yr. CAGR %	24.91	81.5	-18.16	13.05	-12.03
Dividend Per Share, 3 Yr. CAGR %	-	-	-	-	7.72
Compound Annual Growth Rate Over Five Years
Total Revenues, 5 Yr. CAGR %	18.25	35.06	30.73	23.88	23.08
Gross Profit, 5 Yr. CAGR %	5.12	30.99	30.03	27.6	36.13
EBITDA, 5 Yr. CAGR %	1.57	58.59	47.69	52.71	50.2
EBITA, 5 Yr. CAGR %	6.23	94.07	63	73.44	133.68
EBIT, 5 Yr. CAGR %	5.52	93.42	62.61	72.92	132.98
Earnings From Cont. Operations, 5 Yr. CAGR %	32.72	68.18	66.49	111.4	83.97
Net Income, 5 Yr. CAGR %	20.44	53.44	54.7	94.67	77.85
Normalized Net Income, 5 Yr. CAGR %	-13.03	-12.93	28.15	23.1	0.18
Diluted EPS Before Extra, 5 Yr. CAGR %	20.44	53.74	54.27	93.2	78.61
Accounts Receivable, 5 Yr. CAGR %	-18.37	-13.46	-20.41	-8.43	2.33
Inventory, 5 Yr. CAGR %	-28.72	-32.52	-18.72	13.62	6.89
Net Property, Plant and Equip., 5 Yr. CAGR %	240.25	63.08	62.3	16.56	13.72
Total Assets, 5 Yr. CAGR %	20.57	19.12	26.9	19.01	17.77
Tangible Book Value, 5 Yr. CAGR %	40.81	38.62	35.79	32.45	35.66
Common Equity, 5 Yr. CAGR %	13.71	22.1	28	28.6	34
Cash From Operations, 5 Yr. CAGR %	54.01	89.6	146.89	51.72	61.01
Capital Expenditures, 5 Yr. CAGR %	99.4	125.48	301.5	-21.55	16.66
Levered Free Cash Flow, 5 Yr. CAGR %	13.99	51.31	1.87	54.09	4.45
Unlevered Free Cash Flow, 5 Yr. CAGR %	14.42	49.52	-0.57	48.31	6.37