EANS-News: PNE WIND AG publishes three month figures for 2012
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quarterly report
Subtitle: Successful sale of the Kemberg II repowering project
Operating loss reflects continued investments in project development
Forecast for financial years 2011 to 2013 confirmed
Cuxhaven (euro adhoc) - 7th May 2012 - Developments progressed as expected for
the wind farm project developer, PNE WIND AG (ISIN DE000A0JBPG2), during the
first quarter of the financial year 2012. Consequently, the company was already
able to conclude a successful transaction in the sale and handover of the
"Kemberg II" onshore wind farm during the first three months of the year. Due to
the usual advance costs incurred in the project development business and
particularly so in the promising area of offshore project development, PNE WIND
AG recorded a negative operational result. Because the company is expecting
additional contributions to profits from the sale and further development of
offshore wind farm projects during the 2012 financial year, it reaffirms its
forecast of achieving a cumulative EBIT amounting to EUR 60 to 72 million during
the financial years 2011 to 2013.
At EUR -1.1 million, the operational result (EBIT) was negative in the first
quarter of 2012 (previous year: EUR 2.5 million), due to the advance costs for
the wind farm projects under development in Germany and abroad. The corporate
result was EUR -2.7 million (previous year: EUR 1.7 million), which is
equivalent to an undiluted result per share amounting to EUR 0.05 (previous
year: EUR 0.04). . However, PNE WIND AG expects that the investments made,
especially in the offshore sector, will bear fruit as early as this year.
The search for a new purchaser for the "Gode Wind II" project is also making
progress. Thus PNE Wind AG is currently in negotiations for the sale of the
project. Due to the considerable interest being shown, the company is confident
of being able to conclude the sale this year.
In the onshore sector, an additional repowering project in the sale of the
"Kemberg II" wind farm to EnBW Energie Baden-Württemberg AG was concluded
successfully. Here, five older wind energy plants were replaced by modern, more
efficient ones. PNE WIND AG will continue to support the purchaser with its
know-how in his business operations and, as a result, expects continuing
contributions to turnover and results.
Martin Billhardt, Chairman of the Board of Directors of PNE WIND AG: "Due to the
diverse positive prospects in offshore project development as well as in
repowering and in the international business of onshore wind farms, we are
confirming our EBIT forecast of a cumulative EUR 60 to 72 million for the
financial years 2011 to 2013. In addition, we are expecting to receive
significant contributions to results from the sale of our furthest developed
offshore project, "Gode Wind II". Because offshore wind energy plays a
significant role in the expansion of regenerative energy production in Germany,
we are confident of having created substantial value in this sector, which will
have positive effects on PNE WIND AGs results in the future."
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 2,100 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
Head of communication
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