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PNE AG — Earnings Release 2013
Mar 31, 2014
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Earnings Release
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Corporate | 31 March 2014 08:00
PNE WIND AG: PNE WIND AG presents the annual report for the most successful year to date and has significantly expanded its operational business in 2014
DGAP-News: PNE WIND AG / Key word(s): Final Results
31.03.2014 / 08:00
Cuxhaven, March 31, 2014 - With its annual report for 2013, the wind farm
project developer PNE WIND AG presented today the most successful financial
year in its corporate history. Furthermore, the company has already
significantly expanded its operational activities during the first quarter
of 2014.
"2013 was not only an exceptional year for PNE WIND AG in financial terms
but it was also a year in which we laid the foundation for further
development. The successful placement of our EUR 100 million corporate bond
listed on the Prime Standard provided us with the opportunity to take over
approx. 83 percent of the shares in WKN AG as well as acquire three
offshore projects currently in the development stages" summarised Martin
Billhardt, Chairman of the Board of Directors.
The Group, represented by PNE WIND AG and WKN AG, now develops wind farms
in 14 countries and our dependence on individual markets has therefore been
greatly reduced. In the offshore sector, PNE WIND AG is currently
developing six of its own projects and continues down its successful path
forward.
According to IFRS accounting standards, the Group operating income (EBIT) -
the key metric for our project development business - amounted to EUR 45.0
million (previous year: EUR 20.4 million). PNE WIND AG generated a
cumulated EBIT of EUR 65.5 million in the financial years from 2011 to 2013
and therefore fulfilled its forecast of EUR 60 to 72 million during this
period. For the financial years from 2014 to 2016, management expect to
achieve a cumulated operating income of EUR 110 to 130 million.
Revenues increased from EUR 84.4 million to EUR 144.0 million in 2013.
Earnings before tax (EBT) amounted to EUR 35.8 million (previous year: EUR
15.1 million). The undiluted earnings per share (EPS) amounted to EUR 0.86
(previous year: EUR 0.37) and the diluted earnings per share was EUR 0.81
(previous year: EUR 0.31). The Group's total performance increased to EUR
162.1 million (previous year: EUR: 94.3 million).
During the financial year 2013, the balance sheet total increased to EUR
434.9 million (previous year: EUR 182.5 million). As at December 31, 2013,
shareholder equity amounted to EUR 150.6 million (previous year: EUR 84.6
million), representing an equity ratio of 34.6 percent (previous year: 47.5
percent). Cash amounted to EUR 77.4 million (previous year: EUR 36.6
million) and net debt amounted to EUR 134.1 million (previous year: EUR
39.3 million) as at December 31, 2013.
According to HGB (German Commercial Code), PNE WIND AG achieved a net
income of EUR 36.6 million (previous year: EUR 34.4 million) and retained
earnings increased to EUR 67.6 million as at December 31, 2013.
In operational terms, the PNE WIND Group began the 2014 financial year on a
strong note. While wind farms with a total nominal output of 43 MW were
either completed or under construction at the end of 2013, wind farms with
a total nominal output of 100 MW are currently under construction in
Germany. These wind farms are to be commissioned under the current EEG
(German Renewable Energies Law) and further wind farm projects are
currently in the approval process in Germany.
Internationally, wind farms in the USA (up to 153 MW) and France (12 MW)
are under construction. In addition, major wind farm projects have been
issued permits in the United Kingdom (20 MW), Hungary (78 MW), Romania (102
MW) and Poland (32 MW).
Today, PNE WIND AG published its full audited 2013 annual accounts and
management report on its internet page: www.pnewind.com.
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 already
successfully developed wind farms with a total nominal output of almost
2,000 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
14 countries in Europe, Africa and North America. In these countries wind
farm projects with a nominal output of about 4,800 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.
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: [email protected]
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: [email protected]
Investor Relations
cometis AG
Ulrich Wiehle / Janis Fischer
Tel: +49(0) 611 - 205855-64
Fax: +49(0) 611 - 205855-66
E-mail: [email protected]
End of Corporate News
31.03.2014 Dissemination of a Corporate News, transmitted by DGAP - a
company of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
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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: [email protected]
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,
Stuttgart
End of News DGAP News-Service
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