• Balance Sheet
• Income Statement
• Statement of Changes in Equity
• Segmental Reporting
• Cash Flow Statement
• Notes
  • Notes to the Annual Financial Statements
    • Principles and methods
    • Reporting entity
    • List of Holdings of the MVV Energie Group
    • Consolidation methods
    • Currency conversion
    • Accounting and valuation methods
  • Notes on the Balance Sheet
  • Notes on the Income Statement
  • Relationships to related companies, individuals and entities
  • Statement of Compliance pursuant to Section 161 of German Stock Corporation Law (AktG)
  • Information on concessions
  • Events subsequent to the reporting date
• Audit Opinion

Principles and methods

The consolidated financial statements of the MVV Energie Group based on International Financial Reporting Standards (IFRS) have been compiled in line with the standards of the International Accounting Standards Board (IASB) applicable as of 30 September 2005.

The compilation of consolidated financial statements based on IFRS exempts MVV Energie AG from the obligation to compile consolidated financial statements based on the accounting principles of German commercial law, given that the requirements of Section 292a (2) of the German Commercial Code (HGB) have been fulfilled. The assessment of these criteria has been based on the interpretation of the German Standardisation Committee in German Accounting Standard No. 1 (DRS 1).

The annual financial statements of those companies proportionately or fully consolidated in the consolidated financial statements of the MVV Energie Group have been based on uniform accounting and valuation principles.

In addition to the balance sheet, income statement and the statement of changes in equity pursuant to IAS 1, the annual financial statements include a cash flow statement pursuant to IAS 7 and segmental reporting pursuant to IAS 14, as well as the notes to the annual financial statements.

No voluntary premature application has been made of IAS 1 (2004 revision), IAS 32 (2003 revision) or IAS 39 (2003 revision).The valuation of the provision for the obligation to submit emissions rights pursuant to Section 6 (1) of the Greenhouse Gas Emissions Trading Act has been based on the book values of the emissions rights held on the reporting date.

In the interests of transparency, only those electricity trading sales directly relating to the basic business of “generation and supply of electricity to secondary distributors and end customers” have been reported on a gross basis. Sales relating to the proprietary electricity trading business, by contrast, have been reported on a net basis. This means that only the gross margin resulting from the total proprietary electricity trading transactions has been reported – as sales, if positive, and as cost of materials, if negative.