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MVV Energie AG

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

  ad-hoc disclosure pursuant to section 15 of the WpHG transmitted by euro
  adhoc with the aim of a Europe-wide distribution. The issuer is solely
  responsible for the content of this announcement.
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
end of announcement                               euro adhoc

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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