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Seventh among German Energy Utilities
Based on the volume of electricity sold to end customers, we are the seventh-largest German electricity supplier. The MVV Energie Group successfully maintained its position in the highly competitive German electricity market.
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Our electricity turnover rose in the financial year 2008/09 year-on-year by 7 % to 18.7 billion kWh. This growth was driven by the expansion in the electricity trading business. Substantial volume growth in
the nationwide sale of electricity to industrial, commercial and secondary distribution customers enabled us to more than compensate for the reduction in volumes at industrial customers in the end customer business on account of the economic crisis. Due to competitive factors, our electricity turnover with private and business customers declined by 4 %. The rate of private household customers changing supplier at our Group was lower than the national average of around 21 % calculated by the Federal Association of the
German Energy and Water Industries (BDEW) in September 2009. Our low rate of customers changing supplier is the result of successful customer retention measures and attractive electricity products.
Electricity sales (excluding electricity taxes) grew by 27% to Euro 1.8 billion. This growth was driven by volumes and prices.
Notwithstanding this sales growth, adjusted EBIT in the electricity segment fell year-on-year by Euro 29 million to Euro 35 million (– 45 %). The reduction in earnings was attributable to numerous individual factors. The main causes included increased performance and CO2 costs for electricity procurement, lower revenues from electricity generated at proprietary power plants, positive one-off effects in the previous year, the costs of building up sales activities at SECURA Energie GmbH and the effects of the economic crisis. The economic downturn led to a production-related decline in turnover in the industrial customer portfolio and to losses on the resale of electricity volumes not required. The losses incurred on resale resulted from the difference between original procurement prices on
the futures market and current market prices.
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