MVV Energie : Quarterly Statement 9M 2023 FY

Quarterly Statement 9M

Financial Year 2023

• Quarterly Statement 9M FY 2023 | MVV

MVV in Figures

		1 Oct 2022		1 Oct 2021	%
		to 30 Jun 2023		to 30 Jun 2022		change
Financial key figures
Sales and earnings
Adjusted sales excluding energy taxes (Euro million)		5,800		3,653		+ 59
Adjusted EBITDA 1 (Euro million)		995		476		>+ 100
Adjusted EBITDA excluding disposal gains 1 (Euro million)		860		421		>+ 100
Adjusted EBIT 1 (Euro million)		845		320		>+ 100
Adjusted EBIT excluding disposal gains 1 (Euro million)		710		265		>+ 100
Adjusted net income for period 1 (Euro million)		577		213		>+ 100
Adjusted net income for period after minority interests 1 (Euro million)	511	145	>+ 100
Capital structure
Adjusted total assets at 30 June 2023/30 September 2022 2 (Euro million)		6,066		6,888		- 12
Adjusted total assets excluding margins at 30 June 2023/30 September 2022 2, 3 (Euro million)		5,855		5,434		+ 8
Adjusted equity at 30 June 2023/30 September 2022 2 (Euro million)		2,370		1,863		+ 27
Adjusted equity ratio at 30 June 2023/30 September 2022 2 (%)		39.1		27.1		+ 44
Adjusted equity ratio excluding margins at 30 June 2023/30 September 2022 2, 3 (%)		40.5		34.3		+ 18
Net financial debt at 30 June 2023/30 September 2022 (Euro million)		890		32		>+ 100
Net financial debt excluding margins at 30 June 2023/30 September 2022 3 (Euro million)	998	1,449		- 31
Cash flow and investments
Cash flow from operating activities (Euro million)		- 816		262		-
Cash flow from operating activities excluding margins 3 (Euro million)		493		41		>+ 100
Investments (Euro million)	227	224	+ 1
Share
Adjusted earnings per share 1 (Euro)	7.76	2.20	>+ 100
Non-financial key figures
Electricity generation capacity from renewable energies at 30 June 2023/30 September 2022 4 (MWe)		625		614		+ 2
Electricity generation volumes from renewable energies 5 (kWh million)		1,077		1,030		+ 5
Completed development of new renewable energies plants (MWe)		1,331		385		>+ 100
Operations management for renewable energies plants (MWe)		3,691		3,665		+ 1
Number of employees at 30 June 2023/30 June 2022 (headcount)		6,315		6,500		- 3
Number of trainees at 30 June 2023/30 June 2022 (headcount)		252		273		- 8

1. Excluding non-operating measurement items for financial derivatives and including interest income from finance leases
2. Excluding non-operating measurement items for financial derivatives
3. Excluding collateral deposited for counterparty default risks (margins)
4. Including electricity generation capacity from wind turbines for repowering at 30 June 2023 (28 MW)/30 September 2022 (30 MW)
5. Including electricity generation volumes from wind turbines for repowering at 30 June 2023 (25 million kWh)/30 June 2022 (17 million kWh)

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• Quarterly Statement 9M FY 2023 | MVV

Contents
Highlights	4
Foreword	5
Group Business Performance	8
Business Framework	8
Earnings, Asset and Financial Position	11
Presentation of Earnings Performance	11
Presentation of Asset Position	13
Presentation of Financial Position	14
Forecast for the 2023 Financial Year	15
Opportunity and Risk Situation	15
Income Statement	16
Balance Sheet	17
Cash Flow Statement	19
Financial Calendar	20
Imprint/Contact	20

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• Quarterly Statement 9M FY 2023 | MVV

Highlights

Our goal: #climatepositive

On 12 July 1873, the City of Mannheim took over a gas works that had previously been privately managed together with the relevant grid. That marked the beginning of the 150-year history of MVV and its predecessor organisations. Since then, we have constantly developed further and already acted many years ago to make sustainability the centrepiece of our strategy. Today, our Mannheim Model makes us Germany's first energy company to receive scientific confirmation for our "net zero ambition by 2040 at the latest". The first visible proof: In Dresden, our #climatepositive future is already a reality. Our bio-waste anaerobic digestion plant there is the first plant where parts of the CO2 captured during biomethane production are used for internal operating processes and surplus CO2 is now stored in demolition concrete. This way, we are permanently removing CO2 from the atmosphere.

Further expanding renewable energies

We are pressing ahead with expanding renewable energies - both in Germany and around the world. In South Africa alone, our Juwi subsidiary has built up an EPC (engineering, procurement and construction) pipeline with a capacity of 400 megawatts. Juwi is currently planning the construction of the largest windfarm in North Rhine-Westphalia. If everything goes according to plan, its capacity of 262.5 megawatts will supply green electricity to more than 150,000 households from the end of 2028. By offering revamping measures, since the beginning of 2023 we have helped operators of ground-mounted solar parks to replace older modules with higher-capacity modules and thus further boost the performance capacity of their existing parks and market additional electricity volumes via power purchase agreements (PPAs).

Promoting the mobility transition

One way in which we are supporting the mobility transition, and thus climate protection targets, is by offering a forward-looking charging infrastructure. In recent months, we increased the number of charging points in Mannheim and the region to more than

1. At Maimarkt Car Park, for example, we launched operations with our third MVV e-charging park with 12 charging points in total. This drive-through,fast-charging park is free of barriers and each charging point has a maximum charging capacity of 300 kilowatts. Together with the municipality of Brühl, we have also implemented an innovative charging and e-car sharing concept. This involves 18 charging points at nine locations and e-car sharing services from our company FRANKLIN Mobil.

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• Quarterly Statement 9M FY 2023 | MVV

Foreword

Dear Ladies and

Gentlemen,

Germany aims to have climate-friendly heating in future. This is to be achieved with a new legal framework on federal level which will govern municipal heat plans and requirements for individual buildings. Although the debate on the Heat Planning Act and the Building Energy Act is still well underway among politicians and in society, one aspect is already clear: In future, district heat will be the first choice for any climate-neutral heat supply in large built-up areas. To this end, a national average of at least 50 percent of district heat should result from climate-neutral generation by 2030. At MVV, we will beat this target in Mannheim and its surrounding region and in Offenbach. Here, we will supply 100-percent green heat by 2030, with Kiel set to follow no later than 2035.

For the heat transition to succeed, the infrastructure will also have to be fully converted to green energies. That also applies to the transformation in gas distribution grids which, by the time at which the heat supply is fully decarbonised, will have to be either converted to green gases or decom- missioned. Although very little time remains before these measures will have to be implemented, no bespoke political framework is yet in place for either of these options for the future. We have outlined how this framework should be structured in our current study: "Future of the Gas Grids".

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