DGAP-News PNE AG: on course again for success in the 2020 business year
DGAP-News: PNE AG / Key word(s): Annual Report/Dividend
PNE AG: on course again for success in the 2020 business year
- Target figures achieved and exceeded
- 100 MW under construction for internally operated portfolio
- Tailwind for 2021
Cuxhaven, March 31, 2021 - PNE AG closed the 2020 business year very successfully. The Group's Annual Report 2020, published today, shows revenues of euro 109.7 million (prior year: euro 132.8 million) and total aggregate output of euro 151.7 million (prior year: euro 171.2 million) as a result of successful operational business developments.
Earnings before interest, taxes, depreciation and amortisation (EBITDA) amount to euro 26.3 million (prior year: euro 28.7 million) and operating profit (EBIT) to euro 8.2 million (prior year: euro 16.1 million).
The basic earnings per share amount to euro 0.02 (prior year: euro -0.01).
This means that the original guidance for Group EBITDA of euro 15 to 20 million was exceeded and the guidance for Group EBIT of euro 5 to 10 million was achieved.
Markus Lesser, CEO of PNE AG, comments on the good business results: "2020 was both an extraordinary and a successful year for PNE AG. Despite the difficult general conditions caused by the COVID-19 pandemic, we made significant operational progress in various markets. We closed the last fiscal year with a pleasing financial result and have consistently evolved strategically in accordance with the "Scale up" concept."
"Hidden reserves" created with the establishment of the wind farm portfolio
The results are strongly influenced by the development of the internally operated wind farm portfolio. PNE has created "hidden reserves" that are not immediately apparent. As a result of the investments in PNE's own projects, pre-tax profits totalling euro 81.6 million were eliminated at Group level, of which euro 50.0 million in the reporting period (prior year: euro 11.6 million).