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MVV Energie AG

EANS-Adhoc: MVV Energie AG
MVV Energie to cut personnel and material costs

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17.12.2010

MVV Energie to cut personnel and material costs

Mannheim, 17 December 2010. By enhancing its efficiency, the Mannheim-based energy company MVV Energie AG aims to cut its material and personnel costs by between Euro 20 million and Euro 30 million per annum by the 2012/13 financial year. This necessitates a provision requirement of around Euro 31 million in the current 2010/11 financial year. These restructuring expenses have no impact on the company´s adjusted EBIT. Alongside the reductions in material costs, it is also planned to cut around 450 jobs at the Group in a socially responsible manner by 2020. With these efficiency enhancement measures, the company is laying foundations consistent with its strategic focuses, involving investments in renewable energies, environmentally-friendly district heating, in its energy- related services and environmental energy business fields, and in expanding its nationwide sales activities.

Contact: MVV Energie AG Marcus Jentsch, Investor Relations Tel: +49 (0)621 290-2292 E-mail: ir@mvv.de www.mvv-investor.de

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Further inquiry note: Frank Nagel Tel.: +49(0)621 290-2692 e-mail. f.nagel@mvv.de

Branche: Energy
ISIN:      DE000A0H52F5
WKN:        A0H52F
Index:    SDAX, CDAX, Classic All Share, Prime All Share
Börsen:  Frankfurt / regulated dealing/prime standard
              Berlin / free trade
              Hamburg / free trade
              Düsseldorf / free trade
              Stuttgart / regulated dealing



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