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