DGAP-News: PNE WIND AG presents report on the first half

DGAP-News: PNE WIND AG / Key word(s): Half Year Results PNE WIND AG presents report on the first half year of 2014 13.08.2014 / 08:00 --------------------------------------------------------------------- Cuxhaven, August 13, 2014 - The wind farm project developer, PNE WIND AG published the results for the second quarter and first half year of 2014 today. The rate of growth achieved represents an increase over the first three months of the year and was driven with the completion and sale of various wind farm projects. With new permits for projects being issued, the realisation of wind farms will continue intensively in the future. Despite the considerable amount of preliminary work, the operating result (EBIT) increased in the second quarter. During the first half year of 2014, which in contrast to the same period last year now includes WKN AG and its subsidiary companies, the Group realised revenues amounting to euro 117.9 million (previous year: euro 21.7 million), an operating result (EBIT) of euro 2.8 million (previous year: euro -5.6 million) and an undiluted result per share of euro -0.04 (previous year: euro -0.21). Martin Billhardt, Chairman of the Board of Directors (CEO) of PNE WIND AG, comments: "We made considerable progress during the first half year, particularly in the area of onshore wind power. Both at home and internationally, we received a number of building permits, constructed numerous wind farms and sold various projects. We continue to profit from our majority shareholding in WKN AG, which has significantly strengthened our Group and has reduced our dependence on individual markets. We anticipate that it will continue to make positive contributions to turnover and our results in the future." During the first half year, the PNE WIND Group commenced construction on wind farms in Germany with approx. 128 MW of nominal output. Of these, six projects with a cumulative nominal output of approx. 57.3 MW have already been completed. Further wind farm projects, representing approx. 70 MW of nominal output, have been issued building permits. One project, on which construction is about to begin, is the "Chransdorf" wind farm in Brandenburg. With 57.6 MW, it will be the largest German onshore project in our company's history. The most recent wind farm sales provide evidence of the quality of the PNE WIND Group's work. The 15.4 MW "Calau II A" wind farm in Brandenburg, which was sold in December 2013, was commissioned and handed over to the Hamburger Beteiligungsgesellschaft CEE in the first quarter of 2014. The "Calau II C and D" wind farms, with a combined nominal output of 30.8 MW, were sold to Allianz. The "Calau II C" was completed during the first half year and "Görike-Söllenthin" (6 MW), another wind farm in Brandenburg, was sold to EnBW Energie Baden-Württemberg AG in April. Our customers are very experienced infrastructure investors who place a high value on the quality of our projects. The Group expanded its international activities in parallel: In France, a previously sold 12 MW wind farm was completed at the end of July 2014. In the USA, a wind farm (with up to 153 MW in several project phases) continued to be developed. Additional projects in France (10 MW), Italy (30 MW), Great Britain (38 MW), Hungary (78 MW), Romania (102 MW) and Poland (32 MW) are now permitted. Currently, the PNE WIND Group has a domestic and international onshore project pipeline with more than 5,000 MW of nominal output in various stages of project development. Offshore, our project development pipeline is well filled and the PNE WIND AG is currently working on 13 projects. In addition, an independent power producer (so-called IPPs) business may become a new pillar of the PNE WIND Group. "We observe with interest that new IPPs have been raising capital in the marketplace in recent months. With our majority shareholding in WKN, the business volume of the Group has now reached the size and scope required to consider entering into such a business. We are therefore considering the establishment of an IPP / Yieldco for our onshore projects which are about to be constructed and mostly represent German wind farms " said Billhardt commenting on new market opportunities. CEO Martin Billhardt looks optimistically into the future: "We are now harvesting the fruit of our rigorous project development work in recent years. The increased implementation of wind farms ensures continuous returns and we confirm our forecast of achieving a cumulative EBIT of EUR 110 to 130 million for the financial years 2014 to 2016." PNE WIND AG published its report on the first half year of 2014 on its website today at www.pnewind.com. Company profile PNE WIND AG With its headquarters in Cuxhaven, the PNE WIND - Group plans and realises wind farm projects on land (onshore) and on the high seas (offshore). In so doing, its core competence lies in the development, project planning, realisation and financing of wind farms with the subsequent provision of service. To date, the PNE Wind Group has already successfully developed wind farms with a total nominal output amounting to some 2,000 MW. In addition to its business activities in the established German home market, PNE WIND AG is expanding into dynamic growth markets and is already represented through joint ventures and subsidiary companies in 14 countries in Europe, Africa and North America. In these countries wind farm projects with a nominal output of approximately 5,200 MW are currently being developed and are planned to be completed in the medium term. In addition, PNE WIND AG is developing offshore wind farm projects, of which four major projects in German waters have already been approved. Contact: Contact: PNE WIND AG Rainer Heinsohn Head of Corporate Communication Tel: +49(0) 47 21 - 7 18 - 453 Fax: +49(0) 47 21 - 7 18 - 373 E-mail: Rainer.Heinsohn@pnewind.com PNE WIND AG Investor Relations Scott McCollister Tel: +49(0) 47 21 - 7 18 - 454 Fax: +49(0) 47 21 - 7 18 - 373 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 --------------------------------------------------------------------- 13.08.2014 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Media archive at www.dgap-medientreff.de and www.dgap.de --------------------------------------------------------------------- Language: English Company: PNE WIND AG Peter-Henlein-Straße 2-4 27472 Cuxhaven Germany Phone: 04721 / 718 - 06 Fax: 04721 / 718 - 200 E-mail: info@pnewind.com Internet: http://www.pnewind.com ISIN: DE000A0JBPG2, DE000A0B9VG7, , DE000A1EMCW3, , DE000A0Z1MR2, , DE000A1R0741 WKN: A0JBPG, A0B9VG, , A1EMCW, , A0Z1MR, , A1R074 Listed: Regulierter Markt in Frankfurt (Prime Standard); Freiverkehr in Berlin, Düsseldorf, Hamburg, München, Stuttgart End of News DGAP News-Service --------------------------------------------------------------------- 281879 13.08.2014