PNE WIND AG reports financial results for the first nine months of 2009

Cuxhaven, Germany - PNE WIND AG continued its growth during the first nine months of this fiscal year.

Compared to the same period of the previous year, the total aggregate output was increased by 22.5% to 100.2 million euro from 81.8 million euro. This sharp increase was due to the high number of completed wind farms: so far, the company has successfully completed eight projects with a total installed nominal output of 119.8 MW in 2009. During the first nine months of this fiscal year, PNE WIND AG achieved a result of operations (EBIT) amounting to 5.1 million euro (previous year: 24.1 million euro; including the EBIT from the sale of the share in SSP Technology A/S of 26 million euro).

Taking into account the special effect in the previous year, the result of operations obtained in the first three quarters of 2009 underlines the positive business development and shows a strong increase of the operating income in comparison to the previous year. All in all, the consolidated profit as of 30 September 2009 amounts to approximately 1.3 million euro following 18.8 million euro in the previous year. This corresponds to an undiluted result per share of 0.03 euro (previous year: 0.46 euro). Therefore, the Board of Management confirms the forecast published for this fiscal year, according to which an EBIT in the range of 5 to 7 million euro is expected.

Source: IWR Online, 09 Nov 2009