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PNE WIND AG has a good start to the 2017 fiscal year

DGAP-News: PNE WIND AG / Key word(s): Quarter Results PNE WIND AG has a good start to the 2017 fiscal year 10.05.2017 / 08:00 The issuer is solely responsible for the content of this announcement. Corporate News

PNE WIND AG has a good start to the 2017 fiscal year

- First quarter of 2017 characterised by a number of successes

- All significant financial figures of the first three months of 2017 above the previous year's values

Cuxhaven, May 10, 2017 - The wind farm developer PNE WIND started the new year with strong tailwinds. In particular, in the offshore segment, the Company achieved important successes in the first quarter of 2017. In addition to the sale of the "Atlantis 1" project to the Swedish energy group Vattenfall, the "Gode Wind 3" offshore wind farm developed by PNE WIND was one of only four offshore wind farms that received an award in the first German wind farm tender.

Markus Lesser, Chief Executive Officer of the PNE WIND Group, comments: "The success in the tender process is proof of the high quality of our projects and demonstrates that we, as a globally operating enterprise, can benefit from experience gained with this system in other countries. PNE WIND had a positive start to 2017, which we see as a year of transition. We will undertake significant investments in the upcoming months to lay the cornerstone for long-term positive development."

Business is also doing well in the onshore segment: Currently PNE WIND is constructing wind farms with a total capacity of 91 MW. Of these, wind farms with a nominal capacity of 59 MW were under construction at the end of the first quarter in Germany. In France wind farms with a nominal capacity of approx. 32 MW are being erected for the internationally renowned investor John Laing Investments.

Results of the first quarter 2017 and outlook

In the first three months of 2017, the PNE WIND Group generated sales of euro 20.4 million (prior year: euro 11.9 million), total aggregate output of euro 24.6 million (prior year: euro 21.1 million), operating profit (EBIT) of euro 0.3 million (prior year: euro 0.2 million) and undiluted earnings per share of euro -0.03 (prior year: euro -0.05). With an equity ratio of 55.1 percent, PNE WIND has the necessary solid financial basis to realise all planned business activities.