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In the gas segment, sales volumes rose in the financial year 2008/09 to 10.5 billion kWh, up 21% on the previous year. This strong growth was driven above all by increased sales volumes in the nationwide gas business.
MVV Energie AG already supplied around 1.1 billion kWh of gas in the first year of activity in its successfully established nationwide gas business.
Unlike in the previous year 2007/08 and by analogy with the electricity segment, following the introduction of a new controlling and management system we now report sales activities with industrial and commercial customers and those with secondary distribution customers in combined form in the gas segment.
In the financial year 2008/09 the year-on-year increase in sales by Euro 130 million (+ 37 %) was due first and foremost to volume growth and to the delayed introduction of price increases at our companies as of 1 October 2008 and in some cases also as of 1 January 2009. These were attributable to the sharp rise in oil prices in the previous year. In the wake of falling oil price listings, gas prices were cut by double-digit percentage amounts in the course of the 2009 calendar year. Overall, gas rates at the end of the reporting year were in some cases lower than in October 2006.
Adjusted EBIT in the gas segment improved by Euro 31 million to Euro 66 million. This increase was driven in particular by strong volume growth and the resultant positive margin effects, as well as by the aforementioned price factors. Furthermore, earnings benefited from one-off income on the
sale of two local gas grids at the Mannheim subgroup and prorated revenues on the sale of a gas cavern at the Kiel subgroup. Further positive earnings items included the reversal of provisions and cost savings due to the optimisation of gas procurement for special contract customers.
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