MVV Energie AG

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

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  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.
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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

end of announcement                               euro adhoc
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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

Original-Content von: MVV Energie AG, übermittelt durch news aktuell

Weitere Meldungen: MVV Energie AG

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