PNE AG — Earnings Release 1999

Mar 14, 2000

News Details

Ad-hoc | 14 March 2000 14:31

Ad hoc-Service: Plambeck Neue Energien Englis

Ad hoc-announcement edited and sent by DGAP. The sender is responsible for the content of this announcement. —————————————————————————— Total performance was more than doubled in spite of postponement of projects – High increase in efficiency at project development – Considerable increase of the results even after deducting the preliminary costs for trading in power Cuxhaven 13th March 2000. In the business year 1999, the total performance was more than doubled by the Plambeck Neue Energien AG. With 110.8 million DM the amount was 107% above the amount of the previous year. The net income developed even more, with an amount of 3.4 million DM it exceeded the 1998 figure by 278%. Due to the insecurity about the future of the feed-in law, the company made the decision to postpone some planned projects originally planned for 1999. This step proved to be right, now that the Federal Parliament enacted the “law giving precedence to renewable energies” (EEG) with improved conditions. Because of this the total performance of 177 million DM for the division power generation could not be reached in 1999. However, with an amount of 10.3 million DM the result before taxes in this division reached almost the prognosis, because considerable efficiency increases in the development of projects could be realized. In the division trading in power, which was started earlier than planned already in the 4th quarter of the last year, the company invested 3.8 million DM. First revenues are made since 01.01.2000, thus the annual result before taxes for the company should be less. With 6.5 million DM this result exceeds the result of the previous year by 51%. Based on these facts the members of the board and the supervisory board of the Cuxhaven company will suggest to the general meeting on 26th May 2000 a payment of dividend in the amount of 0.50 DM per share. For this year the Plambeck Neue Energien AG expects a continuing dynamic development in the division of power generation as well as in the new divisions trading in power and service for wind farms. In the company’s opinion the EEG will give additional impulses to the field of power generation since Plambeck will continue to focus solely on renewable energies. Plambeck Neue Energien AG End of Message