EANS-News: PNE WIND AG publishes three month figures for 2012
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Corporate news transmitted by euro adhoc. The issuer/originator is solely
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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