euro adhoc: Plambeck Neue Energien AG
Restructuring & Recapitalisations /
Plambeck Neue Energien AG completes restructuring
Disclosure announcement transmitted by euro adhoc. The issuer is responsible for the content of this announcement.
Company Information/Restructuring completed
26.11.2007
Cuxhaven, 26. November 2007 - The wind farm developer Plambeck Neue Energien AG (ISIN: DE000A0JBPG2) in Cuxhaven has completed its restructuring plan following the first upfront payment of Evelop from the sale of shares in the Offshore wind farm company PNE Gode Wind I GmbH ant the financial closure on the wind farm project in Langwedel.
Restructuring measures enabled existing credit totalling approximately 18.8 million euros to be shorn back as early as the end of 2006 and the granting of a new credit line totalling approximately 4.3 million euros in the 3rd quarter of 2007 to be redeemed. The liquidity of Plambeck New Energien AG on 26 November 2007 totals approximately 30 million euros.
Restructuring measures also entailed the company focusing on its core business of wind farm projects in Germany; projects of about 400 MW onshore and around 2,700 MW offshore being currently in the pipeline. In the future wind farm development of Plambeck Neue Energien AG again will become international. Projects are planned in Hungary (project pipeline of 260 MW), Bulgaria (250 MW) and Turkey (450 MW).
Plambeck Neue Energien AG expects earnings before interests and taxes (EBIT) in the magnitude of between 15 and 16 million euros for 2007 after 0.3 million euros in the previous year.
end of announcement euro adhoc 26.11.2007 10:55:20
Further inquiry note:
Rainer Heinsohn
Plambeck Neue Energien AG / Öffentlichkeitsarbeit
Tel.: +49(0)4721-718-453
heinsohn@plambeck.de
Branche: Alternative energy
ISIN: DE000A0JBPG2
WKN: A0JBPG
Index: CDAX, Prime All Share, Technologie All Share
Börsen: Börse Frankfurt / regulated dealing/prime standard
Börse Berlin / free trade
Börse Hamburg / free trade
Börse Stuttgart / free trade
Börse Düsseldorf / free trade
Börse Hannover / free trade
Börse München / free trade