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PNE AG — Earnings Release 2013
Mar 19, 2014
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Earnings Release
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Media | 19 March 2014 13:13
PNE WIND AG: Increased dividend proposal on higher 2013 earnings and a cumulative EBIT forecast of EUR 110 to 130 million for the
(DGAP-Media / 19.03.2014 / 13:13)
Cuxhaven, March 19, 2014 - Due to the successful 2013 financial year, the
Supervisory Board of the wind farm project developer PNE WIND AG resolved
today to accept the recommendation of the Management Board to propose to
the Annual General Meeting a dividend amounting to EUR 0.10 (previous year:
EUR 0.08) and a special dividend amounting to EUR 0.05 (previous year EUR
0.02) for each share which is entitled to dividends. The Annual General
Meeting is to vote on this resolution on June 4, 2014.
The basis for this dividend proposal is the improved earnings achieved
during the 2013 financial year. According to IFRS accounting rules, PNE
WIND AG achieved an operating income (EBIT) - the key metric for the
project development business - of EUR 45.0 million (previous year: EUR 20.4
million). PNE WIND AG has thus fulfilled its 3 year cumulative EBIT
guidance of EUR 60 to 72 million having achieved a cumulative EBIT of EUR
65.5 million for the 2011-13 periods. This guidance was first given in 2011
and maintained since then.
The Supervisory Board also approved today a new earnings forecast. The
Management Board expects to achieve a cumulative group EBIT, including WKN
AG, totalling EUR 110 to 130 million during the 2014 to 2016 financial
years.
Revenues increased from EUR 84.4 million to EUR 144.0 million in 2013. The
earnings before tax (EBT) amounts 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 total corporate performance increased to EUR
162.1 million (previous year: EUR: 94.3 million).
The Group's total assets increased in 2013 to EUR 434.9 million (previous
year: EUR 182.5 million). Shareholders' equity as at December 31, 2013 was
EUR 150.6 million (previous year: EUR 84.6 million), equating to an equity
ratio of 34.6 percent (previous year: 47.5 percent). Net debt at the end of
the fiscal year was EUR 134.1 million (previous year: EUR 39.3 million).
According to HGB (German Commercial Code), PNE WIND AG achieved an annual
net income of EUR 36.6 million (previous year: EUR 34.4 million). PNE WIND
AGs balance sheet profit according to HGB as at December 31, 2013 amounted
to EUR 67.6 million.
PNE WIND AG will publish its fully audited annual accounts and management
report for 2013 on March 31, 2014.
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
doing so, its core competence lies in the development, planning, financing,
operation, sales and service of wind farms. To date, the PNE Wind Group has
already developed wind farms with a total nominal output amounting to
nearly 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 4,800 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 permitted.
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 Media Release
Issuer: PNE WIND AG
Key word(s): Finance
19.03.2014 Dissemination of a Press Release, transmitted by DGAP - a
company of EQS Group 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: [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-Media
258358 19.03.2014