DGAP-News: PNE WIND AG publishes financial report for the first three months 2013
(firmenpresse) - DGAP-News: PNE WIND AG / Key word(s): Quarter Results
PNE WIND AG publishes financial report for the first three months 2013
13.05.2013 / 08:17
---------------------------------------------------------------------
* Growth strategy successfully continues through targeted acquisition of
WKN AG and issuance of a corporate bond
* Planned wind farm project development expenses lead to an EBIT of EUR
-2.5 million
* EBIT forecast for 2011 to 2013 confirmed - higher EBIT anticipated for
the years 2014 and 2015
Cuxhaven, 13 May 2013 - Wind farm project developer PNE WIND AG (ISIN:
DE000A0JBPG2) continued to ensure positive company developments in the
first quarter of 2013. With the planned acquisition of the majority of the
shares in WKN AG and the completed bond issue, the company is focused on
creating future growth opportunities.
'Our intention to acquire the majority of WKN AG will allow us to reach a
new corporate dimension. Together with the experts of WKN we will jointly
develop projects in Germany, France, UK, Poland, South East Europe, Turkey,
South Africa and North America. We expect significant growth opportunities
by entering these new markets', said Martin Billhardt, CEO of PNE WIND AG.
To finance this step and the desired future growth, PNE WIND AG has issued
a corporate bond in the previous week.
In addition, PNE WIND AG was able to report further successes in its
operations during the first three months of 2013. With the completion and
handover of offshore studies, the scheduled milestone payments amounting to
EUR 27 million from the sale of the 'Gode Wind' I, II and III wind farms to
the Danish company, DONG Energy Power A/S were received. Further milestone
payments amounting up to EUR 73 million are still expected in connection to
this transaction, which marked the biggest in our corporate history.
PNE WIND AG is not only experiencing tailwinds from the open sea but also
in the onshore sector. The 'Zernitz II' wind farm with 6 MW of nominal
output has been completed and the 'Langwedel II' wind farm with 8 MW of
nominal output is currently under construction, which requires advance
financing. Further wind farm projects are to be constructed and
commissioned in the short term.
Due to the schedule upfront investments made in our wind farm project
development both onshore and offshore, PNE WIND AG generated sales of EUR
12.2 million (previous year: EUR 9.0 million) and an operating profit
(EBIT) of EUR -2,5 million (previous year: EUR -1.1 million) in the first
three months of 2013. This corresponds to earnings per share of
EUR -0.09 after EUR -0.05 in the previous year. Despite the increase
project development expenses, PNE WIND AG maintained a strong financial
foundation for the company's further growth with cash and equivalents
standing at EUR 43.0 million (31 December 2012: EUR 36.6 million).
'Based on our prospects, we confirm our forecast of a cumulated EBIT of EUR
60 to 72 million for the years from 2011 to 2013 and, based on our well
filled project pipeline, we also anticipate high income levels from our
project development work beyond this time period. Our outlook for the
coming two financial years, 2014 and 2015, represents a cumulated EBIT of
EUR 60 to 72 million excluding WKN AG', concludes Martin Billhardt on the
business development.
The report on the first three months of 2013 can be downloaded from the
internet site, www.pnewind.com.
Company profile
With its headquarters in Cuxhaven, PNE WIND AG plans and realizes 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
99 wind farms with 571 wind energy plants and a total nominal output of 820
MW. In Germany (onshore), wind farm projects with over 1,000 MW of nominal
output are currently being developed.
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
Southeast Europe, Great Britain, USA and Canada. In these countries wind
farm projects with a nominal output of more than 2,000 MW are currently
being developed and are 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. An
entry into promising foreign markets is also being examined with regard to
the offshore sector.
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(at)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(at)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(at)cometis.de
End of Corporate News
---------------------------------------------------------------------
13.05.2013 Dissemination of a Corporate News, transmitted by DGAP - a
company of EquityStory AG.
The issuer is solely responsible for the content of this announcement.
DGAP's 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(at)pnewind.com
Internet: http://www.pnewind.com
ISIN: DE000A0JBPG2, DE000A0B9VG7, , DE000A1EMCW3, , DE000A0Z1MR2
WKN: A0JBPG, A0B9VG, , A1EMCW, , A0Z1MR
Listed: Regulierter Markt in Frankfurt (Prime Standard);
Freiverkehr in Berlin, Düsseldorf, Hamburg, München,
Stuttgart
End of News DGAP News-Service
---------------------------------------------------------------------
210661 13.05.2013
Themen in dieser Pressemitteilung:
Unternehmensinformation / Kurzprofil:
Datum: 13.05.2013 - 08:17 Uhr
Sprache: Deutsch
News-ID 258964
Anzahl Zeichen: 22292
contact information:
Kategorie:
Business News
Diese Pressemitteilung wurde bisher 252 mal aufgerufen.
Die Pressemitteilung mit dem Titel:
"DGAP-News: PNE WIND AG publishes financial report for the first three months 2013"
steht unter der journalistisch-redaktionellen Verantwortung von
PNE WIND AG (Nachricht senden)
Beachten Sie bitte die weiteren Informationen zum Haftungsauschluß (gemäß TMG - TeleMedianGesetz) und dem Datenschutz (gemäß der DSGVO).
