 
In fiscal year 2002/03, developments in sales in our water segment were markedly enlivened by a weather-related jump in volume during the unexpectedly hot summer months.
| Water Volume of the MVV Energie Group
1 |
| In Mill. m3 |
2002/2003 |
|
2001/2002 |
|
In % |
|
 |
|
|
|
|
|
|
| Secondary distributors |
4.2 |
|
3.6 |
|
+17 |
|
|
|
|
|
|
|
|
| Key accounts |
3.7 |
|
3.8 |
|
-3 |
|
|
|
|
|
|
|
|
| Small businesses and households |
32.6 |
|
30.3 |
|
+8 |
|
|
|
|
|
|
| |
40.5 |
|
37.7 |
|
+7 |
|
|
 |
|
 |
|
|
|
| 1 Without water volume from value-added
services |
|
Sales and Earnings Improve
Our water volume rose by 7% to 40.5 million m3 in fiscal year 2002/03. Sales in fact rose by 10% and increased to Euro 74 million. Rate hikes were the reason for the sales plus relative to growth in volume.
Of total water sales, MVV Energie AG accounted for 59%, Energieversorgung Offenbach (EVO) for 26% and the Solingen public utility for 15%. In 2002/03, the Solingen public utility, which was proportionately consolidated for the whole fiscal year for the first time, achieved sales of nearly Euro 11 million compared to almost Euro 9 million for nine months last year.
EBITDA in our water business rose from Euro 18 million to Euro 21 million. Adjusted for proportional charges to cover measures to enhance competitiveness, EBITDA was Euro 22 million for 2002/03. At Euro 11 million, earnings before interest and taxes (EBIT) were also higher than last year (Euro 10 million); when adjusted for one-off factors, this figure was Euro 12 million. Its rise was lower compared to EBITDA due to higher depreciation and goodwill amortisation.
|
