MVV Energie comes through crisis year in good shape

The Mannheim-based energy group MVV Energie AG met its quantitative targets in the past 2008/09 financial year (1 October 2008 ¿ 30 September 2009), posting sales growth of 20 percent and operating earnings only slightly lower than in the previous year. The company will be reporting on its annual performance at its Annual Results Press Conference this morning in Frankfurt (10 a.m., Commerzbank Auditorium on Kaiserplatz). MVV Energie has emerged from the crisis year in good shape, even though the economic and financial crisis has not simply passed the company by in terms of its implications.

External sales (excluding electricity and natural gas taxes) increased to Euro 3.2 billion, thus exceeding the three-billion mark for the first time in the company¿s history. At the same time, the company posted operating earnings (adjusted EBIT) of Euro 239 million following adjustment for valuation items in connection with financial derivatives and a one-off restructuring charge. Consistent with the forecast issued at the beginning of the year, adjusted EBIT were thus 4 percent, and thus only marginally down on the previous year¿s figure of Euro 249 million. The adjusted net surplus after minority interests reduced from Euro 110 million to Euro 98 million, while adjusted earnings per share decreased from Euro 1.69 to Euro 1.48.