EANS-News: PNE Wind AG Offshore sector boosts operating business

• Operational development as planned in 1st quarter 2011
• Further
EBIT contributions expected from offshore projects in fiscal year
2011
• Forecast for fiscal year 2011 to 2013 confirmed

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quarterly report

Subtitle: • Operational development as planned in 1st quarter 2011 •
Further EBIT contributions expected from offshore projects in fiscal
year 2011 • Forecast for fiscal year 2011 to 2013 confirmed

Cuxhaven (euro adhoc) - May 9, 2011 - The first quarter of fiscal
year 2011 ended positively for the wind farm developer PNE WIND AG
(ISIN DE000A0JBPG2). An operating result (EBIT), which is a crucial
figure for a wind farm project developer, of Euro 2.5 million was
achieved (previous year: Euro 10.2 million). When making comparisons
with the previous year, it should be remembered that in the 1st
quarter of 2010, other operating revenue of Euro 11.2 million from
the consolidation of the project company "Gode Wind I" had
contributed to the positive quarterly result. Based on the current
results for the first three months, PNE WIND AG reiterates the
forecast of achieving a cumulative EBIT of Euro 60 to 72 million in
fiscal years 2011 to 2013.

With earnings before taxation (EBT) of Euro 1.8 million, PNE WIND AG
reached a positive result (previous year: Euro 9.3 million). The
consolidated result as of March 31, 2011 was about Euro 1.7 million
(previous year: Euro 9.3 million), which corresponds to an undiluted
earnings per share of Euro 0.04 (previous year: Euro 0.21). The
earnings figures in the 1st quarter of 2011 were primarily due to the
good development in the offshore sector, as important milestones were
achieved.

Operating business in the reporting period continued to develop. In
2011, business activities focussed, above all, on the offshore
sector. PNE WIND AG is currently working on six of its own projects
in this sector in different phases of project development. Of these
projects, "Gode Wind" I and II have already been approved by the
Federal Maritime and Hydrographic Agency (BSH). In addition, the
company is a service provider at two offshore wind farm projects from
DONG Energy Power A/S. After the energy group recently took the
decision to invest in "Borkum Riffgrund I", the preparations for
construction started and a further milestone payment of Euro 6.7
million could be booked in the 1st quarter of 2011. Further payments
are due when the next targets of this project are met.

PNE WIND AG also made considerable progress in the financing of the
offshore wind farm "Gode Wind II". There are a total of 13 Letters of
Support from well-known banks for financing the wind farm. In
addition, PNE WIND AG could expand by further offshore wind farms
through its cooperation with the wind turbine producer Vestas.
Building on the successful cooperation in the offshore wind farm
"Gode Wind II", the projects "Gode Wind" I and III are also being
jointly developed.

Operating business on land is also expanding. All the necessary
permits have been obtained for two onshore wind farms in Germany.
Internationally, the company achieved important interim results. The
first projects in the USA were developed as planned and it should be
possible to implement them in 2012. Furthermore, PNE WIND UK was
selected by the Scottish Forestry Commission as the preferred partner
for the development of wind farms in Central Scotland. PNE WIND will
determine suitable locations for wind farms by October 2011.

Martin Billhardt, Chairman of the Management Board of PNE WIND AG:
"Due to the current debate on the expansion of offshore wind energy
in particular, with six of our own offshore projects at the moment,
we see ourselves as well positioned to profit from future market
developments. We assume that the changed political situation has
provided impulse for our new business model. We see further potential
in the internationalisation of our project development competencies,
particularly in the USA and Great Britain."

Company profile

PNE WIND AG with its headquarters in Cuxhaven develops and implements
wind farm projects on land (onshore) and at high sea (offshore). Its
core competence is the development, planning, implementation and
financing of wind farms and their operation or sale including
subsequent service. So far, the company has set up 97 wind farms with
563 wind energy systems and a total nominal output of 804 MW.

Alongside its business activities in the established German home
market, PNE WIND AG is also increasingly investing in dynamic growth
markets and has subsidiaries and representations via joint ventures
in Hungary, Bulgaria, Romania, Turkey, the UK, USA and Canada. Wind
farm projects with a nominal output of about 3,725 MW are currently
being processed in these countries and are to be implemented in the
medium term. In Germany (onshore) currently wind farm projects with a
nominal output of more than 1.150 MW are being processed.

Furthermore, PNE WIND AG develops offshore wind farm projects, three
of which have already been approved in German waters. Entering
promising foreign markets is also being examined for the offshore
area.

end of announcement euro adhoc
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ots Originaltext: PNE WIND AG
Im Internet recherchierbar: http://www.presseportal.de

Further inquiry note:

PNE WIND AG
Press und Public Relations
Rainer Heinsohn
Tel: +49(0) 47 21 - 7 18 - 4 53
Fax: +49(0) 47 21 - 7 18 - 3 73
E-mail: info@pnewind.com

Investor Relations
cometis AG
Ulrich Wiehle / Alexandra Edinger
Tel: +49(0)611 - 205855-16
Fax: +49(0)611 - 205855-66
E-mail: edinger@cometis.de

Branche: Alternative energy
ISIN: DE000A0JBPG2
WKN: A0JBPG
Index: CDAX, Prime All Share, Technology All Share
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