2005 - 2006 - Pinsent Masons Water Yearbook 2012

GERMANY PART 3 (ii): COMPANY ANALYSIS: LOCAL/REGIONAL PLAYERS
MVV AG
Mannheimer Versorgungs und Verkehrsgesellschaft mbH (MVV) was corporatised in 1974, and
partially floated in 1998. 73% of MVV is held by the municipality and 15% by Rhurgas AG. The free
float is to be increased to 25% through increasing the company’s issued equity in 2005. As well as
water, MVV provides gas, energy, waste-to-energy, district heating and mass transit services. MVV
provides water services to 375,000 people within the city of Mannheim and adjacent municipalities.
Water deliveries increased from 35.0 million m 3 in 2000-01 to 47.6 million m 3 in 2003-04.
MVV, profit and loss account
Y/E 31/09 (€ million) 2000 2001 2002 2003 2004
Water turnover 37.9 58.1 66.8 73 86
Group turnover 649.0 1,179.8 1,678.7 1,438 1,652
Water operating profit 6.0 6.6 9.5 11 12
Group operating profit 79.7 73.0 99.7 121 97
Group net income 48.4 38.4 50.4 25 12
Earnings per share (€) 0.95 0.51 1.00 0.50 0.24
Since 2000, 49.9% stakes in Energieversorgung Offenbach AG (Offenbach in the state of Hesse) and
Stadtwerke Solingen GmbH (Solingen in North Rhine-Westphalia) have been acquired. In June 2003,
Energieversorgung Offenbach gained a 25 year O&M contract for water and wastewater operations for
the parish of Mainhausen in the border region between the states of Hesse and Bavaria.
MVV, breakdown of 2003-04 water revenues (€ million)
Region Water revenues % Population served
Energie (Mannheim) 42 49% 375,000
Offenbach 17 21% 119,000
Solingen 13 14% 165,000
Kiel 14 16% 320,000
In April 2004, MVV Energie acquired 51% of Stadwerke Kiel from TXU Germany Ltd., a subsidiary the
American electric power concern TXU. The company provides water and sewerage services to
320,000 people in the city, 26.8 million m 3 per annum for water (1999) and 23 million m 3 per annum for
wastewater. Kiel is the capital of Schleswig-Holstein. Stadwerke Kiel generated revenues of €292
million in 2002 for a range of utility services and net earnings of €23.5 million. Revenues for 2004/05
are expected to be €332 million with operating profits of €30 million.
The Stadwerke Ingolstadt Beteiligungen (48.4% holding) power and gas services contract, which
covers 96,000 people in Bavaria, was extended to cover water provision during 2004. Stadwerke
Buchen (25.1% holding) provides water services to 15,900 people in Buchen and there are plans to
extend water services to surrounding municipalities. Including these activities, MVV now provides
water and wastewater services to approximately 1.09million people in Germany.
In January 2004, MVV sold its 33% stake in AquaMundo to Inframan, a subsidiary of Saudi Arabia’s
Amiantit. MVV continues to be involved in international consulting projects and short term asset
management and rehabilitation projects in developing economies.
Contact Details
Name: MVV Energie AG
Address: Luisenring 49, 68159 Mannheim,
Federal Republic of Germany
Tel: +49 621 29 00
Fax: +49 621 2860
Web: www.mvv.de
Dr Rudolf Schulten (CEO)
Karl-Heinz Trautmann (Board)
Dr Werner Dub (Board)
304 Pinsent Masons Water Yearbook 2005 – 2006