DGAP-News

PNE WIND AG presents its report for the first nine months of 2014

DGAP-News: PNE WIND AG / Key word(s): 9-month figures/Forecast
PNE WIND AG presents its report for the first nine months of 2014

12.11.2014 / 08:00

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Corporate News

PNE WIND AG presents its report for the first nine months of 2014

Cuxhaven, November 12, 2014 - The wind farm project developer, PNE WIND AG
published its financial report for the third quarter and the first nine
months of 2014 today. The rate of growth achieved represents an increase
over the first six months of the year. The PNE WIND Group completed wind
farm projects with a total nominal output of 88 MW in Germany and a 12 MW
project in France. With projects with approx. 105 MW of total nominal
output under construction at the end of the third quarter, the realisation
of wind farms will continue intensively in the future as well. Furthermore,
the PNE WIND Group is expanding its business model by initiating a YieldCo.

The positive operational developments in the third quarter are reflected in
the PNE WIND Group's operating profit (EBIT) of EUR 4.9 million (previous
year: EUR - 0.4 million) and consolidated earnings per share of EUR 0.04
(previous year EUR - 0.08).

In the first nine months of 2014, the PNE WIND Group achieved an operating
profit (EBIT) of EUR 7.7 million (previous year: EUR - 6.0 million). Sales
totalled EUR 184.1 million (previous year: EUR 43.6 million) and the Group
reported earnings per share of EUR 0.00 (previous year: EUR -0.28) during
the reporting period.

Martin Billhardt, CEO of PNE WIND AG, emphasised the positive effects of
initiating a YieldCo business for the future development of the PNE WIND
Group. "With the formation of a YieldCo, where our commissioned onshore
wind farms in Germany with a total nominal output of up to 150 MW will be
bundled, we are expanding our business model and gaining access to
additional customer / investor groups", says Billhardt.

The PNE WIND Group intends to benefit in many ways from this strategy,
which has proven to be successful in the USA and the United Kingdom. First
of all, we aim to achieve higher prices from the sale of a single portfolio
containing commissioned wind farms than we would be able to achieve on
individual project sales. The reason for this is that investors in
portfolios are generally willing to accept lower returns because they
benefit from diversification - the portfolio is comprised of many wind
farms - as well as not being exposed to construction related risks - the
wind farms are fully commissioned at the time of sale. These positive