MVV forecasts lower earnings in 2026 after 15% profit drop in fiscal 2025 (updated)

MVV Energie AG

11/12/2025 10:46

Mannheim utility fiscal 2025 earnings down 15%

Company board proposes 4% dividend hike for 2024/25

CEO says EBIT be lower in 2025/26

Commits to keep up investment on green energy projects

Adds details from press conference from paragraph 4

FRANKFURT, Dec 11 (Reuters) - German regional utility MVV Energie MVVGn.DE on Thursday forecast lower operating earnings for 2026 after reporting a 15% drop in profits for its 2025 fiscal year that ended in September, sending its shares down nearly 2%.

CEO Gabriel Clemens told a press conference operating earnings in 2026 would likely be in a range of 200 to 240 million euros as the company expects lower contributions from its trading, production and grid businesses.

MVV, based in Mannheim, reported adjusted earnings before interest and tax (EBIT) of 360 million euros ($421.34 million) for fiscal 2025, down from 426 million euros a year earlier.

"The years 2023 and 2024 were exceptional due to special effects that could not be repeated," Clemens said.

In the prior years, wholesale prices had been higher, MVV achieved revenues from the sale of shareholdings in Japan, and negotiated new projects in the U.S.

Clemens cited lower wholesale energy prices and lower volume sales of power and gas as drivers of the decline in the 2025 earnings.

The company remains committed to raising investments in 2025/26, having increased spending in the 2025 fiscal year by 20% to 501 million euros.

"We emphasise our commitment to continue the transformation of energy supply," said Clemens, naming as an example a 165 megawatt (MW) river heat pump project, earmarked to go live in winter 2028.

MVV has longstanding targets to shift to low-carbon heat as well as electricity-, waste- and biomass-based energy products for industry and household customers.

The city of Mannheim owns a 50.1% stake in the company, with Mitsubishi UFJ Financial Group's 8306.T First Sentier Investors holding a 45.1% stake.

MVV said it planned to raise its dividend to 1.30 euros per share for 2025 from 1.25 euros the previous year.

($1 = 0.8544 euros)

 (Reporting by Vera Eckert, Editing by Madeline Chambers and Jane Merriman)

 ((vera.eckert@thomsonreuters.com; +49 30 2201 33654))