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    PNE3   DE000A0JBPG2


SummaryMost relevantAll NewsOther languagesPress ReleasesOfficial PublicationsSector newsMarketScreener Strategies

PRESS RELEASE: PNE AG: Significant increase in earnings in the first half of 2021

08/11/2021 | 02:01am EDT
DGAP-News: PNE AG / Key word(s): Half Year Report/Half Year Results 
PNE AG: Significant increase in earnings in the first half of 2021 
2021-08-11 / 08:00 
The issuer is solely responsible for the content of this announcement. 
Corporate News 
PNE AG: Significant increase in earnings in the first half of 2021 
- Total aggregate output and EBITDA increased significantly 
- Portfolio of internally operated wind farms further expanded 
- Strong growth of the wind and photovoltaic project pipelines 
Cuxhaven, August 11, 2021 - In the first half of 2021, PNE AG continued to develop successfully in operational and 
financial terms as a result of the successful development of further wind farm projects, the start of construction and 
sale of wind farms in Germany and abroad as well as the positive course of business in the service sector. This is 
shown in the half-year report published today. 
In the first six months, the Group recorded total aggregate output of euro 93.9 million (prior year: euro 77.0 
million), earnings before interest, taxes, depreciation and amortisation (EBITDA) of euro 13.3 million (prior year: 
euro 9.0 million), operating profit (EBIT) of euro 2.3 million (prior year: euro 0.6 million) and undiluted earnings 
per share of euro 0.01 (prior year: euro -0.07). 
Due to the intense expansion of PNE's internally operated wind farm portfolio, the total aggregate output is 
significantly higher than last year. The Group's segments "project development" and "service products" showed high 
growth rates in total aggregate output and EBITDA compared to the same period of the previous year. In the "electricity 
generation" segment, total aggregate output and EBITDA were negatively affected by the weak wind conditions in the 
first half of the year. 
"Hidden reserves" created with the establishment of the wind farm portfolio 
The results are strongly influenced by the development of the internally operated wind farm portfolio. PNE has created 
"hidden reserves" that are not immediately apparent. As a result of the investments in PNE's own projects, pre-tax 
profits totalling euro 100.3 million were eliminated at Group level, of which euro 18.7 million in the first half of 
2021 (prior year: euro 6.9 million). In spite of the "hidden reserves", the Group reported equity of euro 197.8 million 
as at June 30, 2021 (as at December 31, 2020: euro 200.6 million) and an equity ratio of 27.1 percent (as at December 
31, 2020: 30.2 percent). 
Goal for the entire year confirmed 
Markus Lesser, CEO of PNE AG: "The results of the first six months are very pleasing, especially against the background 
of the investments in our own portfolio. We are thus fully on target and reconfirm our goal for the year as a whole: We 
will make further upfront investments for the strategic expansion of the business model and invest significantly in the 
further expansion of our own portfolio of wind farms. Nevertheless, we are expecting Group EBITDA of euro 24 to 32 
million in respect of our guidance for the 2021 fiscal year." 
Dynamic course of project development 
The first half of 2021 showed a dynamic course of project development. On June 30, PNE had wind energy projects with a 
total capacity of approx. 259.5 MW under construction for its own account and for customers, including seven wind farms 
in Germany with a nominal output of approx. 128 MW. PNE completed two wind farms with approx. 17 MW for the internally 
operated wind farm portfolio. In Sweden, the construction of a wind farm on behalf of a customer was completed, and the 
project was put into operation. In Poland, a project already sold was commissioned in spring, and the construction of 
two further wind farms has been continued. 
In the first half of the year, PNE was successful with two recently approved projects (30.4 MW) in tenders in Germany. 
Construction of these projects has already begun. In addition, PNE obtained approvals for two further projects (16.8 
MW) in France. 
Successful project sales 
In Romania, three wind farm projects with a nominal output of up to 221 MW were sold. PNE is involved in the further 
development of these wind farms up to the buyer's financing decision within the framework of a development cooperation 
arrangement. In France, PNE sold a wind farm project with approx. 13 MW, which is now under construction. Sales 
processes for wind energy projects are currently underway in the USA and Poland, some of which are expected to be 
completed this year. A sales success was achieved in August for a project in South Africa with 140 MW. 
Internal operations strengthened 
PNE expanded its own wind farm portfolio to 151.6 MW in the first half of the year. Further wind farms with approx. 128 
MW are under construction for PNE's own portfolio, some of which will be commissioned this year. This brings the Group 
step by step closer to the goal of expanding internal operations to up to 500 MW by the end of 2023. 
Wind and PV project pipeline continues to grow 
PNE is well positioned for the further development in its core business of project development and operation. The 
pipeline of onshore wind energy projects in the various phases of project development was expanded to 5,679 MW in spite 
of the continuous realisation of wind farms. This is a very good basis for the further development of the PNE Group. 
There was also significant progress in the first six months in the development of photovoltaic projects. In this field, 
PNE was able to expand the volume of projects in progress to 794 MWp. PV projects are currently being developed in 
seven European and North American countries. This, too, is an important component of the strategic further development 
of the PNE Group. 
Services expanded 
In the "service products" segment, which bundles the services offered by the PNE Group relating to the development and 
operation of wind farm projects, the expansion of the service strategy and the necessary investments in equipment had 
an impact on the results. PNE recorded an increasing number of external orders. Internationalisation, including in 
Sweden and Poland, was strengthened. 
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 into 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, the Company's range of offers includes photovoltaics, electricity storage, 
service products and the supply of clean electricity. PNE is also focussing on the development of power-to-X solutions. 
Contacts for enquiries 
PNE AG                        PNE AG 
Rainer Heinsohn               Christopher Rodler 
Corporate Communications      Investor Relations 
Phone: +49 (0) 4721 718 453   Phone: +49 (0) 40 87933 114 
Fax: +49 (0) 4721 718 373     Fax: +49 (0) 4721 718 373 
Rainer.Heinsohn(at)pne-ag.com Christopher.Rodler(at)pne-ag.com ----------------------------------------------------------------------------------------------------------------------- 

2021-08-11 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG. The issuer is solely responsible for the content of this announcement. The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. Archive at www.dgap.de -----------------------------------------------------------------------------------------------------------------------

Language:     English 
Company:      PNE AG 
              Peter-Henlein-Straße 2-4 
              27472 Cuxhaven 
Phone:        04721 / 718 - 06 
Fax:          04721 / 718 - 200 
E-mail:       info@pne-ag.com 
Internet:     http://www.pne-ag.com 
ISIN:         DE000A0JBPG2, DE000A2LQ3M9, , DE000A12UMG0, 
WKN:          A0JBPG, A2LQ3M, , A12UMG, 
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, 
              Hamburg, Munich, Stuttgart, Tradegate Exchange 
EQS News ID:  1225388 
End of News   DGAP News Service 

1225388 2021-08-11

Image link: https://eqs-cockpit.com/cgi-bin/fncls.ssp?fn=show_t_gif&application_id=1225388&application_name=news

(END) Dow Jones Newswires

August 11, 2021 02:00 ET (06:00 GMT)

Stocks mentioned in the article
ChangeLast1st jan.
DJ INDUSTRIAL -0.04% 35584.62 Delayed Quote.16.35%
DOW JONES AFRICA TITANS 50 INDEX -0.07% 553.64 Delayed Quote.4.31%
DOW JONES SOUTH AFRICA(ZAR) 1.06% 1918.92 Delayed Quote.7.66%
PNE AG 0.50% 8.12 Delayed Quote.1.00%
S&P AFRICA 40 INDEX 0.28% 178.54 Delayed Quote.2.93%
UNIVERSAL MUSIC GROUP N.V. 1.21% 25 Real-time Quote.0.00%
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More news
Sales 2021 161 M 187 M 187 M
Net income 2021 -4,28 M -4,98 M -4,98 M
Net Debt 2021 349 M 406 M 406 M
P/E ratio 2021 -154x
Yield 2021 0,50%
Capitalization 617 M 718 M 718 M
EV / Sales 2021 5,99x
EV / Sales 2022 6,44x
Nbr of Employees 458
Free-Float 56,9%
Chart PNE AG
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PNE AG Technical Analysis Chart | PNE3 | DE000A0JBPG2 | MarketScreener
Technical analysis trends PNE AG
Short TermMid-TermLong Term
Income Statement Evolution
Mean consensus OUTPERFORM
Number of Analysts 4
Last Close Price 8,08 €
Average target price 8,55 €
Spread / Average Target 5,82%
EPS Revisions
Managers and Directors
Markus Lesser Chief Executive Officer
Jörg Klowat Chief Financial Officer
Per Hornung Pedersen Chairman-Supervisory Board
Marcel Egger Member-Supervisory Board
Florian M. Schuhbauer Member-Supervisory Board