euro adhoc: MVV Energie AG
quarterly or semiannual financial statement
Mild
winter negatively impacts earnings at MVV Energie - Annual results for
2006/2007 expected to fall slightly short of 2005/2006 financial year
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
14.02.2007
Mild winter negatively impacts earnings at MVV Energie - Annual results for 2006/2007 expected to fall slightly short of 2005/2006 financial year
Mannheim, 14 February 2007. Germany's largest municipal utility group, the Mannheim-based energy distribution and service company MVV Energie, which is listed in the SDAX, increased its sales in the 1st quarter of the current 2006/07 financial year (1 October - 31 December 2006) by 6 percent compared with the previous year to Euro 582 million (previous year: Euro 551 million). At the same time, its operating earnings (EBIT) of Euro 69 million were 10 percent lower than in the previous year (Euro 77 million). As a result of the prolonged unusually mild winter, turnover in the district heating and gas segments, which is dependent on weather conditions, declined by up to 22 percent. The environmental energy and value-added services segments, however, continued to perform very positively in the 1st quarter of 2006/07.
Given that the unusually mild weather conditions have so far also continued into the 2nd quarter of 2006/07, the MVV Energie Group expects to see further downturns in volumes and earnings in the two segments of district heating and gas thereby affected. On the basis of the information currently available, it is expected not to be possible to reach the sales and operating earnings targets for the 2006/07 financial year published in November 2006. Operating earnings (EBIT) for the current 2006/07 financial year as a whole are expected to fall slightly short of the results reported for the highly successful 2005/06 financial year. In view of the capital increase to be undertaken before the end of the first half of the 2007 calendar year, the company has to forgo the publication of amended sales and earnings targets.
Contact: MVV Energie AG Hilko Schomerus, Investor Relations Tel.:+49 (0)621 290-2567 E-Mail: ir@mvv.de www.mvv-investor.de
end of announcement euro adhoc 14.02.2007 08:31:05
Further inquiry note:
Branche: Energy
ISIN: DE000A0H52F5
WKN: A0H52F5
Index: SDAX, CDAX, Classic All Share, Prime All Share
Börsen: Frankfurter Wertpapierbörse / official dealing/prime standard
Börse Berlin-Bremen / free trade
Hamburger Wertpapierbörse / free trade
Börse Düsseldorf / free trade
Baden-Württembergische Wertpapierbörse / official dealing