DGAP-News: PNE WIND AG presents report on the first half year of 2014

DGAP-News: PNE WIND AG presents report on the first half year of 2014

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

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.


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

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


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Language:    English                                               
Company:     PNE WIND AG                                           
             Peter-Henlein-Straße 2-4                              
             27472 Cuxhaven                                        
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,  
End of News    DGAP News-Service  
281879 13.08.2014                                                      
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