MVV Energie sees higher profits as green investments pay off

MVV Energie AG

13/12/2016 09:00

FRANKFURT, Dec 13 (Reuters) - German local utility MVV 
Energie  MVVGn.DE  expects a slight increase in operating profit 
next year, benefiting from investments in biomass and wind 
capacity as part a broader shift to renewable energy. 
    "Our consistent strategic focus on the energy system of the 
future is bearing fruit on a sustainable basis," Chief Executive 
Georg Mueller said, adding MVV would invest about 300 million 
euros ($319 million) in the current fiscal year, up from 236 
million. 
    For the fiscal year that ended Sept. 30, MVV posted a 22 
percent rise in adjusted earnings before interest and tax (EBIT) 
to 213 million euros. Sales grew 19 percent to 4.1 billion 
euros, it added. 
     
($1 = 0.9401 euros) 
 
 (Reporting by Vera Eckert and Christoph Steitz; Editing by Tina 
Bellon) 
 ((christoph.steitz@thomsonreuters.com; +49 69 7565 1269; 
Reuters Messaging: 
christoph.steitz.thomsonreuters.com@reuters.net)) 
 
Keywords: MVV ENERGIE RESULTS/