The MVV energy group maintained stable economic results in the financial year 2020-2021
The MVV Energie CZ (MVV) energy group achieved a positive consolidated operating profit in the financial year 2020-2021. The Group's total revenues in the period under review reached almost CZK 2.1 billion, 1.2% more than in the previous fiscal year. This mainly resulted from higher sales in the Group's companies, given the extended heating season caused by the long, colder winter, and favorable commodity prices for most of the period under review. MVV also intensively developed energy services projects such as Energy Contracting (EC) and Energy Performance Contracting (EPC).
Year-on-year, the Group also achieved a better operating profit of CZK 316 million, and EBITDA of CZK 599 million. These results came despite higher costs, among things, in the area of innovation and development activities, as well as investments in the modernization and greening of energy operations. Relatedly, MVV declared a definitive withdrawal from coal by 2028.
"Environmental friendliness is reflected in our attitude to the environment and management. Thanks to this approach, and our financial reserves, we have protected end customers from the full impact of rising energy commodity prices, especially gas," comments Jörg Lüdorf, Chairman of the Board of Directors of the parent company MVV Energie CZ a.s. The group's economic outlook remains stable despite changes in the energy market.
In the 2020-2021 financial period, the Group supplied 692 thousand MWh of thermal energy (almost 8% more than in 2019-2020) to approximately 70 thousand households, industrial customers and municipalities. Thanks to the expansion of efficient cogeneration units, simultaneously producing both heat and electricity, the production and consumption of electricity is also growing. In 2020-2021, it supplied 4% more than in the previous period – a total of 171 thousand MWh.
MVV management expects several additional income streams in the coming years. Among these, for example, are the new Develore service, tailored to development projects, and the expansion of the EC/EPC Energy Services Division's portfolio of activities.
The financial results of MVV Energie CZ group and the major events of the year can be found in the Annual Report 2020–2021.