Three new wind farms-

• Financial figures for 2013 as expected
• new shares for reduced stock exchange price to be obtained by shareholders
• Shareholders’ meeting on July 17th shall lead the way to further growth

Wiesbaden - The expansion of the international wind farm portfolio of ABO Invest is progressing. By June 30th, it will acquire three more wind farms in regions of France and Germany which have so far not been part of the portfolio. Including the new acquisitions of 28.5 megawatts, the portfolio is extended to 112 megawatts. The investment volume exceeds 40 million Euro.

The particularly high-yield wind farm Saint Nicolas-des-Biefs is situated in the central French region Auvergne. It comprises seven wind turbines of Vestas V90 (at 2 megawatts each) with 105-meter towers and is scheduled to be connected to the power grid in April 2015. In Couffé (Department Loire-Atlantique) ABO Invest will operate five Vestas V90 (at 2 megawatts each) with 80-meter towers. The designated connection to the power grid is December 2014. In addition, ABO Invest will purchase an existing project: three wind turbines from General Electric (at 1.5 megawatts each) located in Losheim (Saarland) which are connected to the grid since 2004. Those three new projects are supposed to increase the total annual electricity production of ABO Invest by more than 60 million kilowatt hours.

The balance sheet figures of ABO Invest for 2013 were furthermore presented today. The ABO Invest-group posted a loss of about 4.1 million Euro. “There is no reason to be concerned as for the numbers” clarifies Andreas Höllinger, member of the Executive Board. “It is common knowledge that wind farms usually generate balance-sheet loses during the first years of operation due to initially high interest obligations and write-offs”. In 2013, a special expense with no liquidity effect further leveled down the outcome by 1.5 million Euro. “Those effects excluded, the consolidated earnings turned out to be better than expected. It will take another couple of years until the group will make balance-sheet profits”, Höllinger acknowledges. It is the operating result that enables a convincing evaluation of the current performance. The ABO Invest-group generated around 11.5 million Euro (before depreciation, interest, tax and adjusted by other operating income from one-time effects) – which is significantly higher than the year before (2.2 million Euro).

ABO Invest AG itself generated a net income for the year 2013 of around 620.000 Euro. “The result is especially owed to a special effect- the profitable sale of the older wind turbines on the Rhine-Hessian Kloppberg” explains Höllinger. “We have seized an advantageous opportunity. The deal exemplifies that our portfolio entails values which can also be realized on a short time-span”. This year’s annual report as well as those of the last years can be downloaded from the internet: http://www.buergerwindaktie.de/investoren/finanzberichte.html

ABO Invest has updated its profit forecast along with a present value approach of the expected net cash flows. Resulting from this is a share value of 1.44 Euro by the end of 2014. On the stock market the share is currently traded for around 1.35 Euro. By analyzing the profit forecast once a year, ABO Invest is able to update assumptions on existing projects and to include financial planning for new projects. In comparison to the prognosis of 2013 several changes occurred. The historically low inflation rates had a negative effect on the calculated value. Due to that, the feed-in tariffs in France and Ireland did not raise to the expected level. Catering to the low level of interest rates and the associated therewith affordable refinancing possibilities, the management decided to discount future cash inflows at 7 per cent (instead of previously 8 per cent). This has a positive effect on the present value of the company. The current prognosis as well as former versions can likewise be found on the internet:
http://www.buergerwindaktie.de/investoren/index.html.

For the first time, Warburg Research has analyzed the ABO-Invest share and draws positive conclusions. The complete results of the study can be found her:
http://www.buergerwindaktie.de/images/pdf/ABO_Invest_Full_Note_20140423_de-2.pdf

With the approval of the Federal Financial Supervisory Authority (BaFin), ABO Invest has published a prospectus today. It comprises an offer to shareholders to subscribe for new shares. The subscription rights in the ratio of 7:1 (for seven old shares, one new share can be obtained) are being calculated on the basis of the number of ABO Invest-shares after the close of trading on May 30th. The subscription price for the new shares is 1.33 Euro and is therefore below today’s market price. The subscription period starts on June 2nd and ends on June 16th. In order to exert their subscription rights, shareholders are supposed to issue an instruction to their depositary bank using the subscription order provided by the depositary bank. The prospectus and the subscription offer can likewise be found on the internet:
http://www.buergerwindaktie.de/

The ABO Invest AG invites its shareholders to take part in the annual shareholders’ meeting on Thursday, July 17th 2014 at 4 pm, in the Museum Wiesbaden. The agenda as well as further documents to be made available are published here:
http://www.buergerwindaktie.de/investoren/hauptversammlung.html


Wiesbaden, 30 May 2014


Publication and Reprint free of charge; please send a voucher copy to
ABO Invest AG.


Attention editorial offices: For further questions please contact Mr.
Alexander Koffka, ABO Invest AG.

Media contact
Alexander Koffka
Phone: +49 (0)611 267 65-531
fax: +49 (0)611 267 65-599
e-mail: mailto:presse@abo-wind.de


ABO Invest AG
Unter den Eichen 7
65195 Wiesbaden

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