Success in nationwide energy sales leads operating earnings (EBIT) before IAS 39 to show slight growth of 6 percent to Euro 92 million in first quarter of 2008/09 - Sales rise by 25 percent to Euro 830 million

Thanks mainly to its success in the nationwide sale of gas and electricity to industrial and commercial customers, the Mannheim-based energy company MVV Energie (WKN: A0H52F, ISIN: DE000A0H52F5) began its new 2008/09 financial year with slight earnings growth. At the presentation of the financial report for the 1st quarter (1 October - 31 December 2008) in Mann-heim on Friday, company CEO, Dr. Georg Müller, highlighted the growth in operating earnings adjusted for the valuation of energy trading transactions as of the reporting date (EBIT before IAS 39) by 6 percent to Euro 92 million. "This improvement in our earnings was only possible due to disproportionate turnover growth in our nationwide sales with industrial and commercial customers and cost savings", commented Dr. Müller, "particularly as we ultimately did not pass on the increase in our procurement costs to customers in full, especially in the private customer gas business".

According to the CEO, the company was able to increase its sales in the past three months to Euro 830 million, up 25 percent on the equivalent period in the previous year. Electricity turnover rose by 10 percent, while the gas turnover generated in the wholesale and secondary distribution business grew by 54 percent. Overall, MVV Energie thus posted improvements in all key figures, following adjustment for the valuation-dependent, but not cash-effective special items resulting from the recognition of energy trading transactions under IAS 39.

Key Figures before IAS 39
1 October 2008 - 31 December 2008

Euro million	2008/2009	2007/2008	% change
Sales excluding electricity and natural gas taxes	830	663	+ 25
EBITDA before IAS 39	127	124	+ 2
EBITA before IAS 39	92	87	+ 6
EBIT before IAS 39	92	87	+ 6

All in all, the CEO of MVV Energie was satisfied with the results for the first three months of the current financial year. "We have maintained our ground very well in a difficult economic climate, and have further expanded our market position, especially in the highly contested na-tional market for industrial and commercial customers."

In the light of the current economic and financial crisis, which has led to production being cut in numerous key sectors of the economy, MVV Energie has affirmed its targets for the finan-cial year as a whole, namely sales growth from Euro 2.6 billion to Euro 2.8 billion accompa-nied by a slight decline in operating earnings before IAS 39. According to the CEO, the company's broadly-based structure of medium-sized customers and its share of private customers mean that it does not expect to see any dramatic reduction in turnover. However, a more severe economic downturn in Germany would nevertheless "also not simply pass us by".

In terms of its strategy, Dr. Müller continued, MVV Energie would maintain its focus on sustainable and profitable growth "in its successful combination of core and high-growth business fields and its balanced mix of regulated and unregulated markets". MVV Energie sees opportunities both in implementing the climate protection and energy efficiency programmes introduced by federal and state governments and in further expanding nationwide electricity and gas sales and the district heating supply. Moreover, the increasing importance of waste as a fuel for energy generation, as well as of energy efficiency, energy-saving technologies and the increasing use of renewable energies, offer good prospects for growth in the high-growth business fields. "Our longstanding experience and great technical expertise provide us with a decisive competitive advantage in this respect", added Dr. Müller.

Mannheim, 13 February 2009

Key Figures MVV Energie Group
1 October 2008 - 31 December 2008

Euro million	2008/2009	2007/2008	% change
Sales excluding electricity and natural gas taxes	830	663	+ 25
EBITDA 1	- 41	161	- 125
EBITDA before IAS 39	127	124	+ 2
EBITA 1	- 76	124	- 161
EBITA before IAS 39	92	87	+ 6
EBIT 1	- 76	124	- 161
EBIT before IAS 39	92	87	+ 6
Cash flow before working capital and taxes	124	125
Cash flow before working capital and taxes per share 2 in Euro	1.88	1.96
Free cash flow 3	- 121	- 19
Total assets (as of 31.12.2008 / 30.9.2008)	3 890	3 787
Equity (as of 31.12.2008 / 30.9.2008)	1 179	1 270
Investments 4	47	45
Number of employees 5 (as of 31.12.2008 / 31.12.2007)	5 897	6 362
1 the mandatory recognition of derivative financial instruments in    accordance with international accounting standards (IAS 39), which in the past two years    consistently led to positive valuations item due to the sharp rise in energy prices, resulted in a    highly negative, yet not cash-effective, item affecting EBIT to the tune of Euro 168 million due to    the fall in market prices as of 31 December 2008. In view of the fluctuations in these valuations -    the equivalent item affecting EBIT at the previous reporting date on 30 September 2008 was still    positive at Euro 88 million - the company reports its most important key figures excluding these    valuation items. These valuations as of the respective reporting dates have no connection with the    actual operating business, are not cash-effective and also have no influence on the company's    ability to pay dividends. The dividend is paid from the earnings calculated in accordance with the    German Commercial Code (HGB).
2 increase in number of shares (weighted quarterly average) from 63.5 million to 65.9 million as a    result of capital increase
3 cash flow from operating activities less investments in intangible assets, property, plant and    equipment and investment property
4 investments in intangible assets, property, plant and equipment, investment property, as well as    payments for the acquisition of fully and proportionately consolidated companies and other    financial assets
5 including external personnel at Mannheim energy from waste plant