Plambeck Neue Energien AG distinctly improves quarterly result
Cuxhaven (euro adhoc) -
Total sales increased to 81.8 mill. Euro (previous year: 31.2 mill. Euro) Turnover increased by 95.8 per cent to 51.9 mill. Euro Earnings before tax amount to 21.6 mill. Euro (previous year: -6.1 mill. Euro) Earnings positively influenced by sale of SSP Technology A/S
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companies/Quarterly report
Cuxhaven, November 10, 2008 - The wind-farm planner Plambeck Neue Energien AG (ISIN: DE000A0JBPG2) has achieved distinct improvements in turnover and profits in the first nine months fiscal year 2008. Compared with the previous year's period, the total sales rose from 31.2 mill. Euro to 81.8 mill. Euro. At the same time, the turnover revenue increased by 95.8 per cent to 51.9 mill. Euro (previous year: 26.5 mill. Euro). In addition, earnings before interest and taxes (EBIT) improved from -2.6 mill. Euro in the previous year to a current figure of 24.1 mill. Euro. Thus, the company achieved earnings before taxes (EBT) of 21.6 mill. Euro following a total of -6.1 mill. Euro in the previous year. This led to a net income of 18.8 mill. Euro (previous year: -6.3 mill. Euro). The earnings per share thus climbed from -0.16 Euro (undiluted) to 0.46 Euro. It must be taken into account that earnings were positively affected by the sale of shares of SSP Technology A/S. In the course of the concentration on the core business, Plambeck Neue Energien AG relinquished its holding in the Danish rotor blade manufacturer in the second quarter of 2008 and was thus able to achieve free liquidity of around 35 mill. Euro.
The extension of the operative business activity is also reflected in the balance sheet total, which rose to 184.4 mill. Euro due to the increased number of projects under construction (December 31, 2007: 127.9 mill. Euro). With an equity ratio of 31.7 per cent, net debt of around 2 mill. Euro and cash and cash equivalents of 42.6 mill. Euro at the end of the third quarter, the company has a solid financial structure and liquidity situation in order to push forward the planned growth purposefully.
Martin Billhardt, Chairman of the Board, sees Plambeck Neue Energien AG in a good position for the future: "We have done our homework, which is shown by our extensive project pipeline. In Germany alone, we have wind-farms with a nominal output of 114 MW under construction, and they will be handed over to the investors in 2009." In addition, he points out the attractive growth prospects in the wind energy market, in particular abroad and in the offshore area. "The German market is still at the start of offshore wind power and we have the best prerequisites for profiting from the future expansion. Along with this, we are further expanding into promising foreign markets. Therefore a subsidiary was founded in October 2008 as a first step to enter into the US-market. The US is in the medium term, the largest wind market in the world."
As a result of the positive operative development up to now, Plambeck Neue Energien AG underscores its forecast for full fiscal year 2008. This includes an increase of EBIT to 20 to 25 mill. Euro and an improvement in earnings before taxes to 19 to 24 mill. Euro. At the same time, Plambeck Neue Energien AG is expecting earnings per share in between 0.41 Euro and 0.51 Euro for fiscal year 2008.
The complete quarterly report has been made available today in the Investor Relations section of the www.pne.de website.
Corporate profile:
Plambeck Neue Energien AG with its headquarters in Cuxhaven plans and implements wind-farm projects on land (onshore) and at sea (offshore). The key competence of the company is the development, projecting, implementation and financing of wind-farms and their operation and sale with subsequent service. Up to now, the enterprise has set up 84 wind-farms with 479 wind-energy systems and a total nominal output of 651 MW.
Alongside the business activity on the established German market, the company is increasingly expanding into dynamic growth markets. Via joint ventures, Plambeck Neue Energien AG is already represented in Hungary, Bulgaria, Turkey, Great Britain, Ireland and Rumania. In these countries, wind-farm projects with a nominal output of up to 1,400 MW are being processed and are to be finished in the medium term. Furthermore a subsidiary is founded in the USA. In Germany (onshore) wind-farm projects with a nominal output of more than 400 MW are being processed, of which 114 MW are already under construction.
Over and above this, Plambeck Neue Energien AG develops offshore wind-farm projects, of which two major projects in German waters have already been approved. Entry to promising foreign markets is also being examined for the offshore area.
Contact
Plambeck Neue Energien AG Rainer Heinsohn Tel: +49(0) 47 21 - 7 18 - 4 53 Fax: +49(0) 47 21 - 7 18 - 373 E-mail: ir@plambeck.de
Investor Relations cometis AG Ulrich Wiehle / Dirk Stauer Tel: +49(0)611 - 205855-11 Fax: +49(0)611 - 205855-66 E-mail: wiehle@cometis.de
end of announcement euro adhoc
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
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