Ernst Russ (ERAG) AGM 2025 summary

Opening remarks and agenda

• AGM scheduled for 23 May 2025 at 11:00 CEST at Handwerkskammer Hamburg; admission from 10:00 CEST.

• Agenda included FY2024 accounts, profit allocation, discharges, auditor appointments, supervisory board elections, capital and treasury-share authorizations, general debate, voting and closure.

Financial performance review

• FY2024 consolidated revenue was €172.7m, down 14.8% YoY; EBITDA was €93.0m, EBIT €67.7m and EBT €73.5m.

• Consolidated net income before minority interests was €71.8m versus €81.6m in 2023; earnings per share were €1.26.

• Cash and cash equivalents rose 64.5% YoY to €110.7m; year-end equity ratio was 75.0%, versus 76.4% in 2023.

• Q1 2025 revenue was €40.9m versus €46.9m; operating result was €40.3m versus €21.0m and EBT €38.0m versus €22.1m.

• FY2024 annual and consolidated financial statements and reports were submitted; the supervisory board had approved the accounts. Reported balance sheet profit was €168,574,994.31.

Board and executive committee updates

• Robert Gärtner and Joseph Schuchmann presented the management board report.

• Discharge was proposed for board and supervisory board members who served during FY2024.

• Harald Christ nominated for re-election; Jan Peter Döhle nominated to replace Robert Lorenz-Meyer, who is not standing again.

• Deloitte proposed as FY2025 annual and consolidated auditor, for interim reviews and financial reports in FY2025 and FY2026, and as FY2025 sustainability-report auditor if required.