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PNE AG: Dynamic start into 2021 with positive results

DGAP-News: PNE AG / Key word(s): Quarterly / Interim Statement/Quarter Results PNE AG: Dynamic start into 2021 with positive results 11.05.2021 / 08:00 The issuer is solely responsible for the content of this announcement. Corporate News

PNE AG: Dynamic start into 2021 with positive results

- Overall performance increased significantly

- Internal operations strengthened

- Project pipeline for wind and photovoltaics continues to grow

Cuxhaven, May 11, 2021 - PNE AG has made a dynamic start into the 2021 fiscal year, both in operational and in financial terms. The first quarter results are on target, as shown by the quarterly statement published today.

In the first quarter of 2021, the Group generated sales of euro 16.1 million (prior year: euro 15.7 million), total aggregate output of euro 49.4 million (prior year: euro 25.1 million), earnings before interest, taxes, depreciation and amortisation (EBITDA) of euro 6.3 million (prior year: euro 6.4 and undiluted earnings per share of euro 0.01 (prior year: euro 0.00).

Internal operations strengthened
The internationally operating developer of wind energy and photovoltaic projects was able to complete two wind farms with approx. 17 MW for its own wind farm portfolio. As a result, the wind farm portfolio operated by PNE has been expanded to 151.6 MW in the first quarter.

In addition, at the end of the first quarter, five wind farms with a nominal capacity of 97.1 MW were under construction in Germany.

Markus Lesser, CEO of PNE AG: "This brings us step by step closer to our goal of expanding our own operations to up to 500 MW by the end of 2023. We expect to be able to commission further wind farms for our own portfolio this year. These wind farms are under construction, and others are in the approval process. With our own operations, we want to expand the service business and make a further contribution to reducing the volatility of earnings and stabilising earnings and sales at a high level."