09.11.2016
PNE WIND AG DE000A0JBPG2
DGAP-News: PNE WIND AG: The PNE WIND Group achieved great progress in the implementation of onshore wind farms at home and abroad in the first nine months of 2016
DGAP-News: PNE WIND AG / Key word(s): 9-month figures
PNE WIND AG: The PNE WIND Group achieved great progress in the
implementation of onshore wind farms at home and abroad in the first nine
months of 2016
09.11.2016 / 08:00
The issuer is solely responsible for the content of this announcement.
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Press release
The PNE WIND Group achieved great progress in the implementation of onshore
wind farms at home and abroad in the first nine months of 2016
- Wind farms with a total output of 125.4 MW were either under
construction, put into operation or sold
- Wind Farm-Portfolio: Management plans sales transaction this year
- EBIT climbs to euro 7.2 million
Cuxhaven, 9 November 2016 - The PNE WIND Group continued its successful
operations on during the first 9 months of 2016. During the period under
review, wind farms with a total output of 125.4 MW were either under
construction, put into operation or sold. Of this amount, 103.8 MW arose
from projects in Germany and 21.6 MW from the first project in France out
of the framework agreement with John Laing Investments Ltd.
The first nine months were also successful from a financial perspective.
With revenues of euro 77.1 million (previous year: euro 80.5 million) and a
total aggregate output of euro 101.9 million (previous year: euro 189.5
million), the Group reported an operating result (EBIT) of euro 7.2 million
(previous year: euro 16.7 million) and thereby achieved an improvement of
euro 8.6 million over the result as at the end of the first half year 2016.
The undiluted earnings per share totalled euro -0.04 (previous year: euro
0.13) and the shareholder equity ratio was 30.4 percent as at September 30,
2016.
The Group's EBIT result was positively impacted by income from the ongoing
operation of wind farms. Compared to the previous year, the total aggregate
output and earnings are lower owing largely to the sale of the UK
activities during the first nine months of 2015. Beyond the core business
of developing wind farm projects, the company is increasingly benefiting
from its holdings in operational wind farms that generate stable and steady
cash flows.
The Wind Farm-Portfolio of internally held projects has increased to 142.5
MW, of which 124.5 MW were operational and 18 MW were under construction.
An additional wind farm with a nominal output of approximately 10 MW is
currently in the planning permission procedure. The prerequisites for the
planned sales transaction have been reached and the Wind Farm-Portfolio
should be sold for a three figure million amount directly to an investor by
the end of the year. This once again confirms the company's strategy of
bringing quality large-scale wind farm projects at regular intervals to the
market. Only last year, PNE WIND successfully sold its project pipeline in
the UK to the investor Brookfield. The Management Board expects that demand
will remain high from institutional investors for such projects at home and
abroad in the future.
On the personnel level, PNE WIND was strengthened on September 15, 2016
with Kurt Stürken becoming the Chief Operating Officer (COO). The graduate
mechanical engineer has more than twenty years of operational experience in
wind energy. The accomplished wind energy expert strengthens the PNE WIND
executive board with his national and international project development
expertise.
Markus Lesser, CEO of PNE WIND AG comments: "With the first nine months
running according to plan, we confirm our objectives for the current year.
Provided that the sale of our Wind Farm-Portfolio is completed as planned,
we confirm the Group EBIT forecast of in the area of up to euro 100 million
this year. Our solid financial basis provides us with sufficient scope to
be able to react flexibly to market opportunities and changes. This
provides us with a good foundation for the future. We intend to hold up to
25 percent of the Wind Farm-Portfolio and thus continue to benefit from the
ongoing operation of the wind farms. We also intend to cover as much of the
"wind energy" value chain as possible by expanding our service offering
further.
About the PNE WIND Group
The PNE Wind Group, with its brands PNE WIND and WKN, is one of the leading
German wind farm developers. With its 360 employees, the PNE WIND Group has
been offering services covering the entire added value chain ranging from
the development, planning, realisation, financing, operation, marketing and
repowering of wind farms in Germany and abroad from a single source for
more than 25 years. Once the completed plants have been handed over, the
PNE WIND Group also offers technical and commercial operation management
services, including regular maintenance, for the wind farms. Offshore wind
farms are developed up to the point where they are construction ready and
our services cover the projects till operations begin. Alongside its
business activities in its established domestic market, the PNE WIND Group
is present at the international level in order to benefit from the huge
growth potential of the global wind energy market and it is expanding into
dynamic growth markets.
Contacts for inquiries
PNE WIND AG PNE WIND AG Rainer Heinsohn Scott McCollister Head of Corporate Communications Head of Investor Relations Tel.: +49(0) 47 21 - 7 18 - 453 Tel.: +49(0) 47 21 - 7 18 - 454 Fax: +49(0) 47 21 - 7 18 - 373 Fax: +49(0) 47 21 - 7 18 - 373 Rainer.Heinsohn(at)pnewind.com Scott.McCollister(at)pnewind.com--------------------------------------------------------------------------- 09.11.2016 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. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de --------------------------------------------------------------------------- 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 --------------------------------------------------------------------------- 518711 09.11.2016
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