Improved operating earnings (EBIT)
Operating earnings before interest, taxes, depreciation and amortisation (EBITDA) rose year-on-year
by Euro 12 million to Euro 117 million. After depreciation and amortisation, the environmental energy segment reported operating earnings (EBIT) of Euro 81 million, as against Euro 71 million in the previous year. This growth of Euro 10 million was chiefly due to the first full year of full-capacity operations at the new Leuna II energy from waste plant, as well as to cost savings achieved with optimisation measures and materials flow management.
The volume of combustible waste delivered rose by 10% compared with the previous year. In periods of massive rises in commodity and natural gas prices, the economic significance of waste as an energy generating material increases. Our energy from waste plants were able to operate at full capacity at all locations again in the year under report. The resultant additional revenues were countered by higher expenses at the Leuna location due to the launch and first full year of operations at Leuna II. Earnings at the Mannheim location were also affected by higher expenses for additions to pensions and the construction of boiler 6 at the Mannheim energy from waste plant.
Accounting for 33% of the sustainable operating earnings (EBIT before IAS 39) of the MVV Energie Group, the environmental energy segment was, as in the previous year, one of the Group’s key earnings driver. Segment sales made up 7% of total sales at the MVV Energie Group.
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