Sales exceed Euro 3 billion for the first time in the past 2008/09 financial year; operating earnings of Euro 239 million marginally down on previous year

Notwithstanding the noticeable impact of the current economic crisis, the Mannheim-based energy company MVV Energie successfully met its earnings targets in the past 2008/09 financial year (1.10.2008 - 30.9.2009). As announced by the company on Thursday when publishing its preliminary annual results, operating earnings (adjusted EBIT) excluding energy trading transactions requiring measurement under international accounting standards (IAS 39) and the one-off charge resulting from write-downs in the energy-related services business at the end of September amounted to Euro 239 million. In line with the forecast issued at the beginning of the year, adjusted EBIT thus fell slightly short of the previous year's figure of Euro 249 million. At Euro 3.2 billion, annual sales excluding energy taxes passed the 3 billion mark for the first time in the company's history and were thus 20 percent up on the previous year's figure of Euro 2.6 billion.

Dr. Georg Müller, CEO of MVV Energie, was also satisfied with the annual results. "We managed this because we exploited market opportunities by drawing on our employees' expertise, offering innovative products and continually enhancing our efficiency. We have thus further improved our market position even during the crisis." These results also documented the stability and growth potential inherent in the business model and showed that the Group was less dependent on economic developments than many of its competitors.

In the past financial year, the MVV Energie Group generated an adjusted annual net surplus after minority interests of Euro 98 million and adjusted earnings per share of Euro 1.48, compared with Euro 110 million and Euro 1.69 in the previous year.

The company was particular successful in its nationwide sales of electricity and gas to industrial customers. These more than compensated for reduced turnover at some industrial customers due to the crisis. According to Dr. Müller, the energy-related services business also showed positive developments in the fields of contracting for industry, the housing industry and private sector healthcare. The environmental energy business field also proved once again to be highly profitable. Plants continued to operate at fully capacity, although earnings were noticeably burdened by the marked reduction in prices for commercial waste deliveries due to excess capacity in the market and by lower prices for the electricity generated.

MVV Energie will present its definitive consolidated financial statements for 2008/09 at its Annual Results Press Conference in Frankfurt on 27 January 2010. The Annual General Meeting will take place at the Rosengarten Congress Center in Mannheim on 12 March 2010.

MVV Energie's CEO expects the energy market to be characterised by increasing competition accompanied by growing regulatory pressure in the coming years as well. Moreover, there is a great need for investment in a new climate-friendly and sustainable mix of power generation capacities based on energy-efficient cogeneration and renewable energies.

With the strategic realignment known as MVV 2020, the company had in recent months, according to Dr. Müller, laid foundations for profitable value-creating growth. "In 2020, we aim to be, as we are today, a fully integrated energy company covering the entire value chain and occupying a leading position in the German market." To this end, MVV Energie would be investing three billion euros over the next ten years in high-growth projects, as well as in its existing plant and grids. Key fields of investment referred to by the CEO in this respect include expanding renewable energies, building the new Block 9 at the Mannheim power plant Grosskraftwerk Mannheim, enhancing the energy-related services business in a focused manner, extending and concentrating the supply of environmentally-friendly district heating and profitably expanding the Group's nationwide sales with industrial customers.

Mannheim, 19 November 2009

Preliminary key figures
of the MVV Energie Group pursuant to IFRS:

Euro million	2008/2009	2007/2008	+/-% change
Sales excluding electricity and energy taxes	3 161	2 636	+ 20
Adjusted EBITDA 1	385	398	- 3
Adjusted EBIT 1	239	249	- 4
Adjusted EBT 1	165	181	- 9
Adjusted Annual net surplus 1	112	123	- 9
Adjusted Annual net surplus after minority interests 1	98	110	- 11
Adjusted Earnings per share (Euro) 1,2	1.48	1.69	- 12
Free cash flow 3	20	54	- 63
1 excluding non-operating valuation items in connection with financial derivatives and one-off charges    for write-downs at MVV Energiedienstleistungen GmbH
2 increase in number of shares (weighted annual average) from 65.3 million to 65.9 million    due to capital increase
3 cash flow from operating activities less investments in intangible assets, property, plant and    equipment and investment property