09.05.2018
PNE WIND AG DE000A0JBPG2
DGAP-News: PNE WIND with progresses in the first quarter 2018
DGAP-News: PNE WIND AG / Key word(s): Quarterly / Interim Statement
PNE WIND with progresses in the first quarter 2018
09.05.2018 / 08:10
The issuer is solely responsible for the content of this announcement.
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Corporate News
PNE WIND with progresses in the first quarter 2018
- Successful placement of new corporate bond with attractive coupon of 4%
- National and international successes in tenders and approvals
- Advancement to a Clean Energy Solution Provider and building up of "wind
farm portfolio 2020" as planned
Cuxhaven, May 9, 2018 - The first quarter of 2018 was operationally and
strategically successful for the PNE WIND Group. The group made significant
operational progress with our projects on the German market and
internationally. With the placement of a new corporate bond with a volume of
euro 50 million and a coupon of 4.0 percent in April, PNE WIND succeeded in
significantly reducing both the liabilities and the long-term interest
charges for PNE WIND AG in the future. This lays the foundation for
implementing our "Scale up" strategy and building up our 2020 portfolio.
On course in Germany
The Looft repowering project (16.5 MW) in Schleswig-Holstein was completed
and commissioned on schedule at the end of the first quarter. In Lower
Saxony, the Company started the construction of the Gerdau-Schwienau
repowering wind farm (21.6 MW), which was successful in the first tender
round in 2018. Pleasing progress was also made in other projects. The
Kittlitz project (Brandenburg) received approval for a total nominal output
of 21 MW. In Wangerland, Lower Saxony, the planned construction of a
community wind farm with 34 MW is underway. Here, the PNE WIND Group is
providing services in the areas of project development, construction
management and financing.
International progresses
The business of international project planning of wind farms also developed
well. Progress was made, in particular, in projects in France and Sweden.
While in France the St. Martin-L'Ars wind farm (10.3 MW) is about to go into
operation, approval was granted for another project, the Dargies 2 wind farm
(7.05 MW). In Sweden, PNE WIND is in charge of the construction of the
Laxaskogen wind farm (25.5 MW), which has already been sold.
Development into a Clean Energy Solution Provider
Markus Lesser, CEO of PNE WIND AG: "We started as planned into 2018. The
current successes confirm our strategy of further expanding our recognised
qualifications in wind energy in various countries as well as in new
markets. On this successful foundation, we continue to develop. As a Clean
Energy Solution Provider, we want to extend our expertise to other
international markets in the future. Furthermore we are investing into the
building up of the "wind farm portfolio 2020"."
First quarter results on target
The results of the first quarter of 2018 must also be seen in the context of
these general conditions. During this period, the Group generated sales of
euro 10.9 million (prior year: euro 20.4 million), total aggregate output of
euro 15.7 million (prior year: euro 24.6 million) and earnings before
interest, taxes, depreciation and amortisation (EBITDA) of euro 2.1 million
(prior year: euro 1.7 million), operating profit (EBIT) of euro -0.2 million
(prior year: euro 0.3 million) and undiluted earnings per share of euro
-0.04 (prior year: euro -0.03). The results of the first quarter are on
target. Accordingly, we also confirm our goal of generating clearly positive
EBIT in the range of euro 10 to 16 million and EBITDA in the range of euro
20 to 26 million within the Group in 2018.
In addition, since 2017, values have also been created which, however, are
not readily apparent. This relates to the establishment of our "2020 wind
farm portfolio". The earnings before tax accrued in this portfolio to date -
eliminated at the Group level - amount to approx. euro 16.1 million since
2017 (of which about euro 3.7 million in 2018). With such a portfolio of
company-owned projects, complete or partial sales to third parties outside
the Group, and accordingly the earnings in the Group from these projects,
are postponed. Fixed assets and liabilities to banks from project financing
within the Group will increase up to the complete or partial sale of the
"2020 wind farm portfolio".
The financial report on the first three months 2018 is available on the
website www.pnewind.com as of today.
About the PNE WIND Group
PNE WIND Group, a company operating on an international level with two
brands, PNE WIND and WKN, is one of the most experienced project developers
in the field of onshore and offshore wind farms. Based on this success, the
Company has developed to become a "clean energy solutions provider." From
initial site exploration and the approval procedure performance to financing
and turn-key construction to operation and re-powering, the Company's
services encompass all the phases for developing and operating wind farms:
based on this strong position, we continue to develop. In addition to wind
energy, in the future the Company's offer will include photovoltaic,
electricity storage and power-to-gas technologies with a focus on hydrogen.
Contacts for enquiries
PNE WIND AG PNE WIND AG
Rainer Heinsohn Christopher Rodler
Head of Corporate Communications Head of Investor Relations
Tel: +49(0) 4721 718 453 Phone: +49(0) 4721 718 454
Fax: +49(0) 4721 718 373 Fax: +49(0) 4721 718 373
Rainer.Heinsohn(at)pnewind.com Christopher.Rodler(at)pnewind.com
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09.05.2018 Dissemination of a Corporate News, transmitted by DGAP - a
service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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Language: English
Company: PNE WIND AG
Peter-Henlein-Straße 2-4
27472 Cuxhaven
Germany
Phone: 04721 / 718 - 06
Fax: 04721 / 718 - 200
E-mail: [email protected]
Internet: http://www.pnewind.com
ISIN: DE000A0JBPG2, DE000A1R0741, , DE000A12UMG0,
WKN: A0JBPG, A1R074, , A12UMG,
Listed: Regulated Market in Frankfurt (Prime Standard); Regulated
Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
Stuttgart, Tradegate Exchange
End of News DGAP News Service
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683841 09.05.2018
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