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Mannheim, May 13, 2002. In the 1st and 2nd quarters of fiscal year 2001/02
(1/10/2001-31/3/2002), MVV Energie AG once again increased its sales in comparison
to the same period last year. Sales rose by Euro 335 million (+55%) to Euro 940 million.
This healthy growth in sales essentially resulted from expanding power wholesaling,
from successes in the interregional power business and from initial consolidation of new part
icipations in Solingen, Ingolstadt and Bydgoszcz, which were included in the results of
MVV Energie AG as at 1/1/2002, as well as Brno as at 1/12/2001. Earnings before interest,
taxes, depreciation and goodwill amortisation (EBITDA) amounted to Euro 160 million for the
period reported here. Earnings before interest, taxes and goodwill amortisation (EBITA)
were Euro 112 million. Earnings before interest and taxes (EBIT) were Euro 107 million
while earnings before taxes (EBT) amounted to Euro 88 million.
Net earnings for the
period (after taxes after deducting earnings of participations) totalled Euro 48 million,
which corresponded to earnings per share of Euro 0.94 for the first two quarters of
2001/02. A comparison of the indicators for the same period last year was to a large
extent affected by one-off factors in conjunction with the sale of EnBW AG shares during
the 2nd quarter of 2000/01. This one-off factor had a positive effect on the EBIT for
the 2nd quarter of last year, which amounted to Euro 80 million. For this reason,
the following comparison will first indicate the changes versus earnings adjusted for
this one-off factor and then in brackets versus the unadjusted figures:
EBITDA +26% (-27%), EBITA +33% (-32%), EBIT +31% (-34%), EBT +39% (-39%),
net earnings for the period +68% (-27%).
All of the indicators thus show healthy
growth when the figures for last year have been adjusted by the one-off factor.
These primarily stemmed from higher results in district heating, gas and from energy
from waste plants as well as from the new participations. For the whole of fiscal year
2001/02, the forecast remains unchanged for sales of at least Euro 1.5 billion and an
EBIT of Euro 141 million.
Contact:
MVV Energie AG
Investor Relations
Luisenring 49
68159 Mannheim, Tel.:++49(0)621-290-3708
Fax: ++49-(0)621-290-3075
E-Mail: ir@mvv.de
Internet: www.mvv-investor.de
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