Shareholder Structure

3.2 million no-par value shares in free float are held by private investors (approx. 2.9 million) in Germany and by institutional German and institutional European investors (approx. 0.3 million).

Substantial changes of the shareholder structure since the IPO

In June 2020, First Sentier Investors (formerly First State Investments) acquired the MVV shares previously held by EnBW and RheinEnergie. First Sentier Investors' shareholding amounts to 45.1 %.

EnBW announced in March 2017 that it had acquired 6.28% of the shares in MVV. Following approval by the Federal Cartel Office, this acquisition was completed in December 2017. EnBW’s stake in the company has thus risen from 22.48% to 28.76%.

Two years ago, it became known that Barclays Bank had held shares in MVV Energie on behalf of EnBW since 2007. In April 2014 EnBW has now disclosed its formal acquisition of this 7.43% stake. EnBW had merely formally executed the rights of access acquired via a swap transaction.

EnBW has held a 15.05% stake in MVV Energie since 2004 already. It took over this stake from the then Ruhrgas AG upon the e.on/Ruhrgas merger. EnBW’s shareholding has now risen to 22.48%. As a result, the free float has reduced from 12.2% to 4.8%.

In February 2012, GDF SUEZ Energie Deutschland GmbH, Berlin, notified us that its share of the voting rights in MVV Energie AG amounted to 6.3%. GDF SUEZ Energie Deutschland acquired its shares in connection with the disposal of shares by the City of Mannheim in 2007 and the subsequent capital increase via the market. The voting rights are attributed pursuant to § 22 (1) Sentence 1 No. 1 of the German Securities Trading Act (WpHG) to the company's two controlling companies, namely GDF SUEZ SA, Courbevoie, France, and GDF International SAS, Courbevoie, France. As a result, the free float has reduced from 18.5% to 12.2%.

RheinEnergie AG, Cologne, acquired a further 0.2% of the shares in MVV Energie AG via the stock exchange in October 2008. RheinEnergie AG therefore now holds a 16.3% stake. The free float has shown a corresponding decline to 18.5%.

In October 2007, we made use of the authorisation granted by Section 5 (2) of the Articles of Association and increased the company's share capital with the approval of the Supervisory Board by a nominal total of Euro 25.96 million to Euro 168.7 million. A total of around 10.1 million new shares were issued. Shareholders were granted subscription rights. EnBW AG, RheinEnergie AG and the City of Mannheim participated in the capital increase. The shareholder structure therefore remains unchanged.

In June 2007, RheinEnergie AG, Cologne, acquired a 16.1% stake in MVV Energie AG from the City of Mannheim. Following the approval of the acquisition of this shareholding by the Federal Cartel Office in August 2007 already, the District Government of Cologne approved the acquisition of the shareholding in October 2007. The City of Mannheim now holds an indirect stake of 50.1%.

In September 2006 we made use of the authorisation provided by Section 5 (3) of the Articles of Incorporation and increased the share capital of the company, following the approval provided by the Supervisory Board, by a nominal total of Euro 162k to Euro 142.8 million. A total of 63,290 new shares were issued to the exclusion of shareholders' subscription rights. The shares were issued to employees of MVV Energie AG and of affiliated companies in order to service the "2006 Employee Share Option Programme". The City of Mannheim furthermore indirectly holds 66.2% of the shares.

In November 2005, we increased the share capital by a nominal total of Euro 12.8 million to Euro 142.6 million by issuing 5.0 million shares, corresponding to 9.86% of the share capital, to the exclusion of subscription rights and in return for cash contributions. The shares were placed with German and European institutional investors by means of an accelerated bookbuilding procedure. EnBW also participated in the capital increase. The free float has increased from 12.2% to its current level of 18.7%. The City of Mannheim indirectly holds 66.2%.

In December 2003, Ruhrgas Energie Beteiligungs-AG transferred its shares to RGE Holding GmbH, which in turn transferred ownership in its shareholding in MVV Energie to its sister company, Thüga AG. In December 2004, EnBW AG purchased this shareholding as a financial participation from Thüga AG.

In the course of 2000 and 2001, Ruhrgas Energie Beteiligungs-AG purchased free float shares in MVV Energie AG, increasing its shareholding to the level of 15%, which is considered to be problematic in terms of antitrust law in the case of suppliers.

In fiscal year 1999/2000, the greenshoe of 1.1 million shares held by City of Mannheim was reduced to 350 000 shares through two partial sales. In October 2000, the remaining shares were also placed by means of a third partial sale. The City of Mannheim currently had an indirect shareholding of 72.8%.


Key figures of the shareFY 2019FY 2020FY 2021FY 2022FY 2023
Capital Stock (Euro mill.)168.72168.72168.72168.72168.72
Market Capitalisation (as of 30.9.) (Euro mill.)1,7471,7142,1091,8982,043
Free Float (as of 30.9.) (Euro mill.)84721029198
No. of no-par Value Shares (000s)65,90765,90765,90765,90765,907
Regular dividend0.900.951.051.051.151
One-off dividend----0.301
Total Dividends (Euro mill.)59.362.669.269.275.812
Total Dividends (Euro mill.)----

95,613

1 Subject to approval by Annual General Meeting on 8 March 2024
2 Basis: regular dividend
3 Basis: regular dividend plus one-off dividend