EANS-News: PNE WIND AG closes the financial year 2011 with a positive result
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annual result
Subtitle: Company proposes a consistent dividend of EUR 0.04 per share to the
Annual General Meeting
EBIT forecast for the financial years 2011 to 2013 confirmed
Cuxhaven (euro adhoc) - 26th March 2012 - The wind farm project developer, PNE
WIND AG (ISIN DE000A0JBPG2) confirms its EBIT forecast and again proposes a
dividend payment amounting to EUR 0.04 per share. In the previous financial
year, the company recorded a positive result at corporate level (EBIT) amounting
to EUR 0.1 million (prior year: EUR 9.5 million). This is reflected in the 2011
Annual Accounts published today. Although the planned sale of the "Gode Wind II"
offshore project has not yet been completed as originally envisaged,
nevertheless the sales negotiations emphasise the fact that the offshore
projects being developed by the company have a high value and can contribute
significantly to profits in the short and medium term. The Board of Directors
therefore confirms its EBIT forecast of a cumulative EUR 60 to 72 million for
the financial years 2011 to 2013.
The result of normal business activity (EBT) amounted to EUR -4.9 million in the
financial year 2011 (previous year: EUR 5.4 million) and overall performance was
about EUR 53.9 million as compared with EUR 80 million in the previous year. The
corporate deficit was about EUR -3.9 million after a profit of EUR 7.9 million
in the previous year. This produced an undiluted result per share amounting to
EUR -0.09 (previous year: EUR 0.17). According to HGB accounting, PNE WIND AG
reported a balance sheet profit of EUR 2.5 million (previous year: EUR 4.1
million). The Board of Directors and the Supervisory Board have therefore again
decided to propose a dividend payment of EUR 0.04 per share to the shareholders
at the Annual General Meeting.
During the past financial year in particular PNE WIND has made significant
progress in its operational business, which will make future contributions to
turnover and profits possible. Currently, four of the offshore projects
developed by PNE WIND in Germany have been approved by the Bundesamt für
Seeschifffahrt und Hydrographie (BSH) (German Federal Maritime and Hydrographic
Agency). In December 2011 the offshore wind farm, "Borkum Riffgrund II", which
was already sold in 2009, was approved initiating another payment to the company
from the purchaser, DONG Energy, during the first half year of 2012. In
addition, PNE WIND was able to sell the "Nautilus II" offshore project and will
also continue to support this project in future as service provider. Overall,
PNE WIND AG is currently developing projects at home and abroad with a total
output of about 3,200 MW in the onshore sector and 3,307 MW in the offshore
sector. This represents a solid basis for further company growth.
Martin Billhardt, Chairman of the Board of Directors of PNE WIND AG, is
satisfied with business development in 2011: "For us, the financial year 2011
was characterised by many positive developments. Our many successful years of
project work have borne fruit in the completion of "Gode Wind II" to the point
of readiness for construction. We are confident that we will soon find a partner
for the construction of the wind farm because "Gode Wind II" is one of few
projects, which already have a secure grid connection - an important aspect for
German offshore wind farms." Martin Billhardt adds: "We are therefore pleased to
be able to propose a dividend of EUR 0.04 per share again this year to our
shareholders in the Annual General Meeting. We are also maintaining our EBIT
forecast of a cumulative EUR 60 to 72 million for the financial years 2011 to
2013. In this way, income from offshore projects and various onshore wind farms
at home and abroad will ensure that we continue to drive company growth
forward."
Company profile
With its headquarters in Cuxhaven, PNE WIND AG plans and realises wind farm
projects on land (onshore) and on the high seas (offshore). In doing so, its
core competence lies in the development, project planning, and financing of wind
farms and in their operation and sales respectively with the provision of
subsequent service. To date, the company has constructed 98 wind farms with 568
wind energy plants and a total nominal output of 814 MW.
In addition to its business activities in the established German home market,
PNE WIND AG is increasingly expanding into dynamic growth markets and is already
represented in joint ventures and by subsidiary companies in Hungary, Bulgaria,
Turkey, Great Britain, Rumania, USA and Canada. In these countries wind farm
projects with a nominal output of up to 2,086 MW are being developed and are to
be completed in the medium term. In Germany (onshore), wind farm projects with
over 1,100 MW of nominal output are currently being developed.
In addition, PNE WIND AG is developing offshore wind farm projects, of which
four major projects in German waters have already been approved. An entry into
promising foreign markets is also being examined with regard to the offshore
sector.
Further inquiry note:
PNE WIND AG
Leiter Unternehmenskommunikation
Rainer Heinsohn
Tel: +49(0) 47 21 - 7 18 - 4 53
Fax: +49(0) 47 21 - 7 18 - 3 73
E-mail: info@pnewind.com
Investor Relations
Scott McCollister
Tel: +49(0) 47 21 - 7 18 - 4 54
Fax: +49(0) 47 21 - 7 18 - 3 73
E-mail: scott.mccollister@pnewind.com
Investor Relations
cometis AG
Ulrich Wiehle / Janis Fischer
Tel: +49(0)611 - 205855-64
Fax: +49(0)611 - 205855-66
E-mail: fischer@cometis.de
end of announcement euro adhoc
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company: PNE WIND AG
Peter-Henlein-Str. 2-4
D-27472 Cuxhaven
phone: +49(0)4721 718 06
FAX: +49(0)4721 718 373
WWW: http://www.pnewind.com
sector: Alternative energy
ISIN: DE000A0JBPG2, DE000A0B9VG7 DE000A0Z1MR2 DE000A1EMCW3
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English