Multi-Year Overview

Multi-year overview of the MVV Energie Group

 
  2004/05 1 2005/06 2006/07 2 2007/08 2 2008/09 2, 3  
Income statement (Euro million)           
Sales excluding electricity and natural gas taxes  1 864 4 2 170 4 2 259 4 2 636 4 3 161 4  
Adjusted EBITDA 287 370 344 398 385  
Adjusted EBITA 156 223 200 249 239  
Adjusted EBIT 158 201 199 249 239  
Adjusted EBT 80 128 123 181 165  
Adjusted annual net surplus 41 64 126 123 112  
Adjusted annual net surplus after minority interests 28 50 109 110 98  
            
External sales excluding electricity and natural gas taxes (Euro million)           
Electricity  882 4 966 4 1 079 4 1 382 4 1 760 4  
District heating 250 276 272 303 294  
Gas 366 447 342 356 486  
Water 106 107 104 102 101  
Value-added services 107 149 263 277 308  
Environmental energy 131 193 184 194 194  
Other / consolidation 22 32 15 22 18  
MVV Energie Group 1 864 2 170 2 259 2 636 3 161  
            
Adjusted EBIT (Euro million)           
Electricity  39 20 38 2 64 35 2  
District heating 40 51 42 38 36  
Gas 35 31 11 35 66 2  
Water 15 21 19 10 14  
Value-added services 16 12 19 20 18 3  
Environmental energy 27 68 71 81 71  
Other / consolidation – 14 – 2 – 1 1 – 1  
MVV Energie Group 158 201 199 249 239  
            
Assets (Euro million)           
Electricity  734 845 860 1 319 889  
District heating 474 505 562 547 496  
Gas 331 318 331 381 399  
Water 288 273 282 289 242  
Value-added services 145 159 285 249 334  
Environmental energy 445 468 474 438 536  
Other / consolidation 230 395 293 356 565  
Unallocated (balance sheet)  273 190 191 208 493  
MVV Energie Group 2 920 3 153 3 278 3 787 3 954 

Multi-year overview of the MVV Energie Group

 
  2004/05 1 2005/06 2006/07 2 2007/08 2 2008/09 2, 3  
Investments (Euro million)           
Electricity 22 18 22 29 27  
District heating 24 19 28 25 56  
Gas 17 22 19 16 13  
Water 13 12 12 10 12  
Value-added services 8 18 30 49 52  
Environmental energy 64 81 34 59 64  
Other / consolidation 14 20 20 20 14  
Investments in property, plant and equipment 162 190 165 208 238  
Investments in financial assets 52 29 90 33 17  
MVV Energie Group 214 219 255 241 255  
            
R&D-expenditure (Euro million)           
Process optimisation 1 1 2 5 2  
Product development 2 1 4 3 3  
Technical enhancement 1 1 3 1 1  
MVV Energie Group 4 3 9 9 6  
            
Balance sheet figures (Euro million)           
Non-current assets 2 339 2 361 2 479 2 725 2 795  
Current assets 579 792 799 1 062 1 159  
Share capital 130 143 143 169 169  
Capital reserve 178 255 255 455 455  
Retained earnings, including unappropriated net profit 315 324 383 506 371  
Accumulated other comprehensive income 9 10 17 24 15  
Minority interests 105 105 116 116 103  
Equity 737 837 914 1 270 1 113  
Non-current debt 1 397 1 366 1 377 1 445 1 698  
Current debt 784 950 987 1 072 1 143  
Total assets 2 918 3 153 3 278 3 787 3 954  
            
            
Key balance sheet figures and ratios           
Cash flow (Euro million) 188 5 246 5 364 6 414 6 386 6  
Free Cash flow 7 (Euro million) 53 -52 188 54 20  
Adjusted equity ratio 8 in %  25,3 26,5 27,9 35,5 33,9  
Capital Employed 9 2 263 2 293 2 390 2 444 2 649  
ROCE 10 in % 6,9 9,7 8,4 10,2 9,0  
WACC 11 in % 7,5 7,5 7,5 8,5 8,5  
Value Spread 4,12 in % – 0,6 2,2 0,9 1,7 0,5 

Multi-year overview of the MVV Energie Group

 
  2004/05 1 2005/06 2006/07 2 2007/08 2 2008/09 2, 3  
Share and dividend           
Closing price on 30.9. (Euro) 19,29 23,23 29,49 33,20 30,83  
Annual high 13 (Euro) 19,50 25,40 34,24 33,75 34,0  
Annual low 13 (Euro) 13,90 17,40 22,00 28,00 26,55  
Market capitalisation on 30.9. (Euro million) 978 1 295 1 645 2 188 2 032  
Average daily trading volume (no. of shares 18 149 27 289 32 396 29 575 19 162  
            
No. of individual shares on 30.9. (million) 50,704 55,767 55,767 65,907 65,907  
No. of shares entitled to dividends (million) 55,704 55,767 55,767 65,907 65,907  
Dividend per share (Euro) 0,75 0,80 0,80 0,90 0,90 14  
Total dividend (Euro million) 41,8 44,6 52,7 15 59,3 59,3 14  
            
Adjusted earnings per share (Euro) 0,55 0,91 1,96 1,69 1,48 16  
Cash flow per share (Euro) 3,71 5 4,47 5 6,52 6 6,33 6 5,86 6, 16  
Adjusted book value per share 17 (Euro) 12,46 13,29 14,32 16,53 18 16,52 16, 18  
Price / earnings ratio 35,1 25,5 15,0 19,6 19 20,8 16, 19  
Price / cash flow ratio 5,2 5 5,2 5 4,5 6 5,2 6, 19 5,3 6, 16, 19  
Dividend yield 19 in % 3,9 3,4 2,7 2,7 2,9 14  
              
Sales volumes 20           
Electricity turnover 21 (kWh million) 13 022 14 343 14 302 18 188 19 582  
of which wholesale 21, 22 (kWh million) 3 227 3 368 3 003 5 797  6 939  
of which retail / secondary distributors 22 (kWh million) 10 695 10 975 11 299 12 391 12 643  
District heating turnover (kWh million) 7 446 7 343 6 299 7 006 7 217  
Gas turnover (kWh million) 11 096 11 513 9 456 9 166 10 851  
of which wholesale 22 (kWh million) — 490 624 864 1 529  
of which retail / secondary distributors 22 (kWh million) 11 096 11 023 8 332 8 302 9 322  
Water turnover (m 3 million) 58 58 55 55 53  
Combustible waste delivered (tonnes 000s) 872 1 229 1 409 1 550 1 599 

Multi-year overview of the MVV Energie Group

 
  2004/05 2005/06 2006/07 2007/08 2008/09  
Employees (as of 30.9.)           
MVV Energie AG including MVV RHE GmbH 1 728 1 569 1 559 1 527 1 523  
Fully consolidated shareholdings 3 114 3 156 3 765 3 661 3 833  
MVV Energie AG with fully consolidated shareholdings 4 842 4 725 5 324 5 188 5 356  
Proportionately consolidated shareholdings 1 550 1 562 1 031 685 681  
MVV Energie Group 6 392 6 287 6 355 5 873 6 037  
External personnel at Mannheim energy from waste plant  57 51 39 28 16  
  6 449 6 338 6 394 5 901 6 053  
1 starting in the 2005/06 financial year: initial recognition of put option at Stadtwerke Kiel AG (previous year’s figures adjusted)
2 tarting in the 2006/07 financial year: adjusted, i.e. excluding non-operative IAS 39 valuation items in connection with financial derivatives
3 2008/09 financial year: adjusted, i.e. excluding non-operative IAS 39 valuation items in connection with financial derivatives and excluding one-off charges for write-downs at energy-related services subgroup
4 energy trading sales reported on a net basis, i.e. only showing the margin actually realised
5 pursuant to the Society of Investment Professionals in Germany (DVFA) / Schmalenbach-Gesellschaft
6 starting in the 2006/07 financial year: before working capital and taxes
7 inflow of funds from operating activities, less investments in intangible assets, property, plant and equipment and investment property
8 starting in the 2007/08 financial year: adjusted equity as a proportion of adjusted total assets
9 adjusted equity plus financial debt plus provisions for pensions and similar obligations plus accumulated goodwill amortisation (calculated as an annual average)
10 return on capital employed (adjusted EBITA as a percentage of capital employed)
11 weighted average cost of capital
12 value spread (ROCE less WACC)
13 XETRA trading
14 pending approval by the Annual General Meeting on 12 March 2010
15 entitled to dividend from 23 October 2007: 65 906 796 individual shares
16 weighted number of individual shares: 65 906 796
17 excluding minority interests, weighted annual average number of shares
18 excluding net balance of positive and negative fair values under IAS 39
19 basis: closing price in XETRA trading on 30 September
20 total volume for all segments
21 recalculation of proprietary trading in year under report (previous years adjusted)
22 reallocation of secondary distributors in year under report (previous years adjusted)