EANS-News: PNE WIND AG publishes 2009 annual report and gives the outlook for 2010
Annual result of 10.1 million euros generated in 2009 EBIT forecast in the range of at least 14 - 18 million euros per year Liquidity of 41.5 million euros per 31.12.2009
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Annual Reports/2009 results
Subtitle: Annual result of 10.1 million euros generated in 2009 EBIT forecast in the range of at least 14 - 18 million euros per year Liquidity of 41.5 million euros per 31.12.2009
Cuxhaven (euro adhoc) - 30th March 2010 - The wind farm developer PNE WIND AG (ISIN: DE000A0JBPG2) has today published the certified figures for the past year together with the 2009 business report. According to IFRS accounting principles the company has generated an annual result of 10.1 million euros. Unlike the previous year´s amount of 17.1 million euros, the result for the business year 2009 was generated largely from the project planning of wind parks.
Martin Billhardt, Chairman of PNE WIND AG, sees this as proof of the operational strength of the company: "The result generated in 2009 comes primarily from our core business, which is to say project planning, implementation and the subsequent sale of wind parks". He says that the positive annual result has further strengthened the capital base and has led to the first balanced net result for the year, according to the German Commercial Code, since six years ago.
Against the background of the company´s promising competitive position in the still growing market for wind energy, the executive board is assuming that PNE WIND AG will continue to develop positively. Due to imponderables such as approval procedures and weather conditions, and the fact that the complete project planning for a wind park lasts an average of three to five years, the board is providing a rough framework for the prospects for business development. The board is confident that the EBIT in the next three years will be at least 14 to 18 million euros per year on average and/or 42 to 54 million euros over the whole period." The board sees particular opportunities for the company in offshore business and growing foreign activities.
The 2009 annual report, which gives a complete summary of the past year and future prospects, became available for download today at www.pnewind.com in the "Investor Relations" section.
Company profile
PNE WIND AG with its headquarters in Cuxhaven develops and implements wind farm projects on land (onshore) and at high sea (offshore). Its core competence is the development, planning, implementation and financing of wind farms and their operation or sale including subsequent service. So far, the company has set up 93 wind farms with 536 wind energy systems and a total nominal output of 772 MW.
Alongside its business activities in the established German home market, PNE WIND AG is also increasingly investing in dynamic growth markets and has subsidiaries and representations via joint ventures and in Hungary, Bulgaria, Turkey, the UK, Ireland, Rumania, USA and Canada. Wind farm projects with a nominal output of up to 1,400 MW are currently being processed in these countries and are to be implemented in the medium term. In Germany (onshore), wind farm projects with a nominal output of more than 300 MW are currently being processed.
Furthermore, PNE WIND AG develops offshore wind farm projects, three of which have already been approved in German waters. Entering promising foreign markets is also being examined for the offshore area.
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Further inquiry note:
PNE WIND AG
Presse- und Öffentlichkeitsarbeit
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
cometis AG
Ulrich Wiehle / Dirk Stauer
Tel: +49(0)611 - 205855-11
Fax: +49(0)611 - 205855-66
E-mail: wiehle@cometis.de
Branche: Alternative energy
ISIN: DE000A0JBPG2
WKN: A0JBPG
Index: CDAX, Prime All Share, Technology All Share
Börsen: Frankfurt / regulated dealing/prime standard
Berlin / free trade
Hamburg / free trade
Stuttgart / free trade
Düsseldorf / free trade
Hannover / free trade
München / free trade
Original content of: PNE WIND AG, transmitted by news aktuell