Home Renewable Energy PNE WIND Group: a successful start in fiscal year 2016
PNE WIND Group: a successful start in fiscal year 2016

PNE WIND Group: a successful start in fiscal year 2016

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The wind project developer PNE WIND started the fiscal year 2016 with strong tailwinds. The Group achieved a positive operating result in the first quarter and thereby has laid the foundation for a financially and operationally successful year. With the planned sale of the Wind Farm-Portfolio with a total nominal output of up to 150 MW, PNE WIND aims to achieve an EBIT up to euro 100 million in 2016.

The operating and internally held wind farms have already had a positive impact on the financial figures in the first quarter of 2016 and the income from these projects helped the Group achieve a positive operating result (EBIT). On the other side, there were also high expenses in connection with the development of additional wind farms, which will pay off in the future. In the first three months of 2016, the Group generated sales of euro 11.9 million (prior year: euro 15.2 million), a total aggregate output of euro 21.1 million (previous year: euro 23.6 million), an operating profit (EBIT) of euro 0.2 million (prior year: euro -6.0 million) and undiluted earnings per share of euro -0.05 (prior year:         euro -0.13). With a high level of liquidity at euro 76.9 million and an equity ratio of 33 percent, PNE WIND has the needed solid financial basis to bring its business activities forward.

“From an operational and financial perspective, PNE WIND has successfully finished the first quarter of 2016. We have achieved a good start in an exciting and eventful year”, commented Markus Lesser, the Chief Operating Officer (COO), who assumes the position of Chief Executive Officer (CEO) from May26. “We have set our sights high and we intend to implement a number of major projects this year. We intend to realise our Wind Farm-Portfolio by means of an IPO or by placing the portfolio directly with an investor.”

“With our strong project pipeline, PNE WIND is excellently positioned. Currently four onshore wind farms with a total nominal output of 55.2 MW are being constructed. Of these, 32.1 MW will be bundled into our Wind Farm-Portfolio. For additional wind farms with 32.9 MW, the necessary permits are on hand, so that construction can be begun shortly. In light of the positive start into the year, we confirm our financial goals for 2016,” commented Markus Lesser.

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Anand Gupta Editor - EQ Int'l Media Network

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