Corporate | 30 March 2017 08:00
PNE WIND AG: PNE WIND closes the 2016 fiscal year with record results
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DGAP-News: PNE WIND AG / Key word(s): Final Results
PNE WIND closes the 2016 fiscal year with record results – Group EBIT of euro 97.0 million (prior year: euro 9.8 million) – Improved balance sheet structure: Distinct reduction of short and long term financial liabilities and increased liquidity – The basic earnings per share amounted to euro 0.90 (prior year: euro 0.05)
On the bottom line, the Group recorded a net income of euro 69.0 million (prior year: euro 3.5 million) with a total aggregate output of euro 259.2 million (prior year: euro 233.3 million) in 2016. The basic earnings per share amounted to euro 0.90 (prior year: euro 0.05). The equity ratio improved from 34.0 percent to 53.1 percent. Markus Lesser, CEO of the PNE WIND Group, is delighted with this success: “We are extremely satisfied with these results, no question. However, the market will become more difficult due to regulatory changes, and we are expecting declining prices. This also applies if the expansion of renewable energies is growing at the international level. But now, we have the necessary resources to invest again in a project portfolio in the long term in order to strengthen our internal operations and to profitably use or expand our entire value chain.” According to the accounting principles of the German Commercial Code (HGB), the listed stock company PNE WIND AG generated a net income of euro 40.0 million (prior year: euro 10.3 million). On the basis of these positive results, the Board of Management and the Supervisory Board will propose to the general meeting of shareholders on May 31, 2017 to distribute a total dividend of euro 0.12, consisting of basic dividend of euro 0.04 and a special dividend of euro 0.08 per eligible share from PNE WIND AG’s retained earnings. In this way, we want to consistently continue our dividend policy of recent years and enable shareholders to participate appropriately in the Company’s success.
Liquidity serves to finance further growth
Markus Lesser, CEO of PNE WIND AG comments: “The strategy of initially bundling wind farms after their completion has proven to be successful. The marketing of large portfolios provides higher sales proceeds than the sale of individual wind farms. We want to repeat this success and intend to build up additional electricity generation capacity, in particular through the development of a European portfolio of onshore wind farms up to 2019/2020.” The new portfolio will be realised through internally developed wind farm projects, the acquisition of existing wind farms for subsequent repowering and the increased acquisition of projects that are at a late stage of development. PNE WIND intends to retain a major share in the portfolio in connection with a future sale and to provide operational management services for the wind farms. Using this approach, PNE WIND ensures regular and stable revenue from the sale of electricity and from wind farm management. This strategy has already proved its worth upon the pro-rata sale of the wind farm portfolio in December 2016.
Outlook
The 2016 financial report of PNE WIND AG is available on the company’s website in the section “Investor Relations” as of today.
Contacts for enquiries
30.03.2017 Dissemination of a Corporate News, transmitted by DGAP – a service of EQS Group AG.
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| Language: | English |
| Company: | PNE WIND AG |
| Peter-Henlein-Straße 2-4 | |
| 27472 Cuxhaven | |
| Germany | |
| Phone: | 04721 / 718 – 06 |
| Fax: | 04721 / 718 – 200 |
| E-mail: | info@pnewind.com |
| Internet: | http://www.pnewind.com |
| ISIN: | DE000A0JBPG2, DE000A1R0741, , DE000A12UMG0, |
| WKN: | A0JBPG, A1R074, , A12UMG, |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich, Stuttgart, Tradegate Exchange |
| End of News | DGAP News Service |