Income Statement

from 1.10.2004 to 30.9.2005

Income Statement of the MVV Energie Group Euro 000s	2004/2005	2003/2004	Notes

Sales	1,957,592	1,651,487	18

Capitalised own-account services	64,540	47,460	19

Other operating income	73,095	59,698	20

Cost of materials	1,233,431	1,040,789	21

Personnel expenses	294,515	250,067	22

Other operating expenses	281,708	240,490	23

Income from shareholdings in associated companies	7,115	5,374	24

Other income from shareholdings	-4,932	-23,925	25

EBITDA	287,756	208,748

Depreciation	132,038	153,852	26

EBITA	155,718	54,896

Amortisation of goodwill	-1,793	13,670	27

EBIT	157,511	41,226

Net interest expenses	-67,528	-63,906	28

EBT	89,983	-22,680

Taxes on income	38,885	14,814	29

Annual net surplus (previous year: annual net deficit)	51,098	-37,494

Minority interests	17,112	6,030

Annual net surplus after minority interests (previous year: annual net deficit after minority interests)	33,986	-43,524	30


Reconciliation:

Annual net surplus after minority interests (previous year: annual net deficit after minority interests)	36,986	-43,524

Earnings retained at MVV Energie AG from the previous year	36,398	148,331

Transfer of at-equity income of the MVV Energie Group for the current financial year to retained earnings	-1,408	-773

Total net earnings of the MVV Energie Group as reported in the balance sheet	68,976	104,034

MVV Energie AG - Annual Report 2004/2005