PNE WIND Group finished the fiscal year 2015 operationally and economically successful
The 2015 fiscal year was a challenging as well as successful time for PNE WIND. The sale of our subsidiary PNE WIND UK and the completion of the “Chransdorf” wind farm in Brandenburg – with 57.6 MW and representing the single largest project in the Company’s history – marked significant operational highlights.
In financial terms, the 2015 financial year developed positively and despite the high level of investments in our own wind farms, positive earnings could be generated. As at December 31, 2015, the Group achieved a total performance of euro 233.3 million (prior year: euro 233.9 million) and an operating profit (EBIT) of euro 9.8 million (prior year: euro 2.7 million). The basic earnings per share amounted to euro 0.05 (prior year: euro -0.22).
According to the accounting principles of the German Commercial Code (HGB), PNE WIND AG recorded a net income of euro 10.3 million (prior year: euro 4.0 million) and the retained earnings increased to euro 70.5 million as at December 31, 2015. On the basis of the positive results of PNE WIND AG, the Board of Management and the Supervisory Board intend to submit a proposal to the general meeting of shareholders on May 25, 2016 to distribute a dividend of euro 0.04 per eligible share. In this way, we are continuing the dividend policy pursued over the last few years.
Operational progress – onshore and offshore
The operational business of the PNE WIND Group in the 2015 fiscal year was characterised by the number of projects realised in Germany and the continued progress in the development of projects in Germany and abroad. In 2015, wind farms with a nominal output of approx. 90.5 MW were completed. Further wind farm projects with a capacity of 50.4 MW are currently under construction.
We also obtained planning permission for additional projects during the last few months so that we can start construction on these wind farms soon. In this way, the PNE WIND Group will make a substantial contribution to the successful “Energiewende” and the continued expansion of safe, resource-saving and climate-friendly power generation.
A majority of the nominal capacity completed in 2015 was brought into the Group’s own portfolio. Wind farms with a capacity of approx. 66.6 MW were bundled there at the turn of the year. This includes the “Chransdorf” wind farm and the “Waldfeucht/Selfkant” repowering project, in which old wind power turbines were replaced after 17 years of operation by new turbines.
Internationally, the PNE WIND Group achieved a significant operational success with the sale of the British subsidiary PNE WIND UK Ltd. and the project pipeline developed by it.
At the end of 2015, the companies of the PNE WIND Group were working on onshore projects with more than 4,900 MW of nominal output in various phases of a multiple year development process in Germany and in its international markets.