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.


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.

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

end of announcement euro adhoc

issuer: MVV Energie AG Luisenring 49 D-68159 Mannheim phone: +49(0)621 290-3708 FAX: +49(0)621 290-3075 mail: ir@mvv.de WWW: http://www.mvv-investor.de sector: Energy ISIN: DE000A0H52F5 indexes: SDAX, CDAX, Classic All Share, Prime All Share

stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin, Hamburg, Düsseldorf, regulated dealing: Stuttgart language: English

Rückfragen & Kontakt:

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