PNE AG closes first quarter very successfully
- Total aggregate output of euro 44.4 million (prior year: euro 15.7 million)
- Operating profit (EBIT) increased to euro 4.3 million (prior year: euro -0.2 million)
- Forecast for the entire year confirmed
Cuxhaven, May 13, 2019 - In the first quarter of 2019, the PNE Group, which is internationally active in project development and services for wind and PV projects, continued to develop both in operational and in strategic terms. In the first quarter, which is usually weak in the industry, PNE achieved its best result in years.
First quarter results on target
From the beginning of January to the end of March, the Group generated revenues of euro 28.0 million (prior year: euro 10.9 million), total aggregate output of euro 44.4 million (prior year: euro 15.7 million), earnings before interest, taxes, depreciation and amortisation (EBITDA) of euro 6.9 million (prior year: euro 2.1 million), operating profit (EBIT) of euro 4.3 million (prior year: euro -0.2 million) and undiluted earnings per share of euro 0.02 (prior year: euro -0.04).
Markus Lesser, CEO of PNE AG: "I am very satisfied with the results of this first quarter. We are fully on plan with these figures. Accordingly, we also confirm our goal of generating EBITDA in the range of euro 25 to 30 million and EBIT in the range of euro 15 to 20 million within the Group in the entire year."
On course in Germany
PNE has taken a further step in building up the "portfolio 2020", in which wind farms with a nominal capacity of up to 200 MW are to be bundled, with the full commissioning of the "Gerdau-Repowering" project (21.6 MW, Lower Saxony). This means that 71.3 MW are already in operation (64.8 MW) or under construction ("Schlenzer" wind farm, 6.5 MW, Brandenburg) for the portfolio. Another wind farm in Germany is under construction: the "Kittlitz" wind farm (20.7 MW, Brandenburg).
International project development also progressed positively. Projects developed by the PNE Group with a nominal output of 44.4 MW were completed in Sweden and France. And in Poland, the construction of a wind farm (42 MW) developed by the PNE Group was started. The construction phase is accompanied by PNE on behalf of the owner.
In the first quarter of 2019, PNE entered another international market: Panama. Five already partially developed projects were taken over there, which are now being further managed and optimised. An office was opened in Panama for this purpose. Starting from Panama, the PNE Group sees good opportunities to enter into additional Latin and South American markets.
Development into a Clean Energy Solution Provider
Markus Lesser, CEO, comments: "The current successes confirm our strategy of further expanding our recognised qualifications in wind energy in various countries and in new markets. On this successful foundation, we continue to develop. As a Clean Energy Solution Provider, we want to extend our expertise to other international markets in the future. This is initially connected with financial input - since success requires investment. Our next goal is to consolidate our earnings, to consistently increase the value of the enterprise and to achieve a sustainable increase in shareholder value."
About the PNE Group
The internationally operating PNE Group with its brands PNE and WKN is one of the most experienced project developers of onshore and offshore wind farms. Based on this success, the Group has developed to become a "clean energy solutions provider". From initial site exploration and implementation of approval procedures via financing and turnkey construction to operation and repowering, the Company's services encompass all the phases of developing and operating wind farms. In addition to wind energy, in the future, the Company's range of offers will include photovoltaics, electricity storage, services and the supply of clean electricity. In this context, PNE is also involved in the development of power-to-gas solutions.
Contacts for enquiries
Tel: +49 (0) 4721 718 453
Fax: +49 (0) 4721 718 373
Tel: +49 (0) 40 87933 114
Fax: +49 (0) 4721 718 373
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