MVV Energie Full-Year Profit Narrows on Milder Winter, Charge

MVV Energie AG (MVV1), a German utility, said fiscal full-year profit fell 7.9 percent because of a milder winter as a damaged turbine and impairment charge hurt earnings.

Adjusted earnings before interest and taxes fell to 223 million euros ($294 million) in 2011-2012 from 242 million euros a year earlier, the Mannheim-based company said today in a statement. That was in line with MVV’s estimate of 220 million euros. Sales increased 8.2 percent to 3.9 billion euros.

MVV predicted increased sales and adjusted Ebit of about 220 million euros for the current fiscal year.

The executive board will propose a dividend of 90 cents a share, the company said.

To contact the reporter on this story: Tino Andresen in Dusseldorf at tandresen1@bloomberg.net

To contact the editor responsible for this story: Will Kennedy at wkennedy3@bloomberg.net

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