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PNE WIND Closes the 2016 Fiscal Year with Record Results

Cuxhaven, Germany - The PNE WIND Group closed the 2016 fiscal year with the best operating results in its corporate history. Due to the sale of wind farms, offshore milestone payments received and income from electricity generation, the wind power specialist increased its Group EBIT to euro 97.0 million (prior year: euro 9.8 million).

Above all, the sale of the wind farm portfolio, which has been established over several years, in December last year contributed significantly to this success and was an important step to achieve the annual and the three-year guidance.

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.



Source: IWR Online, 05 Apr 2017

 


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