MVV Energie (MVV1) Q3 2025 earnings summary

Executive summary

• Adjusted sales for the first nine months were €4.9 billion, down 17% year-over-year, mainly due to lower wholesale prices and reduced electricity and gas volumes.

• Adjusted EBIT fell 16% to €323 million, with declines in Customer Solutions and New Energies, but a strong 81% increase in Generation and Infrastructure.

• Investments rose 19% to €301 million, focusing on renewable energy and grid expansion.

• Net financial debt increased 40% to €1,295 million, while adjusted equity ratio improved to 43.0%.

Financial highlights

• Adjusted net income after minority interests dropped 24% year-over-year to €201 million.

• Adjusted earnings per share decreased 24% to €2.32.

• Cash flow from operating activities declined 65% to €85 million; cash and cash equivalents fell to €408 million.

• Depreciation and amortisation increased by €10 million to €159 million.

Outlook and guidance

• Adjusted EBIT for FY 2025 is now expected between €350–370 million, narrowed from the previous €350–400 million range, reflecting ongoing economic and segment uncertainties.