MVV Energie (MVV1) investor relations material

Executive summary

• Adjusted sales for the first nine months of FY 2026 were €4.3 billion, down 12% year-over-year, mainly due to lower wholesale prices and volumes in gas and electricity.

• Adjusted EBIT fell 30% to €225 million, impacted by lower earnings in Customer Solutions and Generation & Infrastructure, and a plant outage in Mannheim.

• Investments increased 65% to €497 million, focused on climate-friendly heat/electricity generation, grid expansion, and a new UK waste-to-energy plant.

• The company remains committed to its #climatepositive strategy, targeting 100% green district heat in key cities by 2030 and overall achievement by 2040.

Financial highlights

• Adjusted net income for the period dropped 37% to €130 million; adjusted EPS declined 40% to €1.40.

• Net financial debt rose 37% to €1,563 million, reflecting high investment activity.

• Cash flow from operating activities increased to €237 million, while cash flow from investing activities fell due to higher capex.

• Adjusted equity ratio decreased to 41.1% from 44.1% year-over-year.

• Adjusted EBITDA fell 19% to €392 million.

Outlook and guidance

• Adjusted EBIT for FY 2026 is now forecast between €190 million and €225 million, revised down due to the Mannheim plant outage and challenging market conditions.

• The company is adjusting the pace, but not the ambition, of its climate transition strategy.

• Earnings remain sensitive to regulatory, market, and macroeconomic factors, with no major crisis scenario assumed.