EANS-News: PNE WIND AG: 1H12 results reflect investments made which laid foundation for "Gode Wind" transaction

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6-month report

Subtitle: • “Gode Wind” projects sold in second half of the year •
Reconfirmation of EBIT guidance for fiscal years 2011 to 2013 • EBIT
negative after six months due to higher investments in project
pipeline

Cuxhaven (euro adhoc) - 29 August 2012 - The wind farm project
developer, PNE WIND AG (ISIN: DE000A0JBPG2), published today its
results for the first half of 2012. The reporting period was
characterised by intensive onshore and offshore project development
activity which required advance payments and investments in projects
whose realisation will lead to future sales and earnings. Providing
further evidence to the strength of the business model, PNE WIND AG
was able to report the largest transaction in the company's history
as well as for any German offshore wind project developer on 14
August 2012. The sales transaction took place after the end of first
half of the year and its positive effects will first be evident in
the third quarter and beyond. The sale of the "Gode Wind" projects
has a total deal value of euro 157 million plus service related
revenues of up to euro 8.5 million. PNE WIND AG has already received
euro 57 million in payments and now has a clear view on the timing of
future milestone payments totalling euro 100 million. With this
transaction, management reconfirms the company's cumulative EBIT
guidance of euro 60 to 72 million for 2011 to 2013.

Advanced payments cannot are an intrinsic part of the business model
of PNE WIND AG and a variety of costs are incurred over the course of
several years of planning and development. Not until the project
rights or wind farms are sold does our company have the ability to
convert our development costs into the revenues, which in some cases
can represent very significant volumes. These investments in future
sales are reflected in our half yearly results. PNE WIND AG realised
a turnover amounting to euro 12.3 million in the first six months of
2012 (previous year: euro 19.9 million) and an earnings before
interest and tax (EBIT) of euro -6.3 million (previous year: euro 0.9
million). At the end of the June 2012, the company had assets in
association to the "Gode Wind" projects of euro 43.5 million, which
were reclassified as "Asset held for sale".

Despite a decline in equity - caused primarily by the negative net
income and dividend payments - the equity ratio remained at a high
level of around 38.6 percent (31 December 2011: around 38.8 percent).

CEO Martin Billhardt comments, "The Gode Wind deal marks the most
important business transaction in PNE WIND AG's history. The deal
solidifies our financial base and the funds provide resources for
further project development and a perspective to pay dividends to our
shareholders. We therefore reconfirm our EBIT guidance of cumulated
euro 60 to 72 million for the fiscal years 2011 to 2013."

Company profile

With its headquarters in Cuxhaven, PNE WIND AG plans and realises
wind farm projects on land (onshore) and on the high seas (offshore).
In doing so, its core competence lies in the development, project
planning, and financing of wind farms and in their operation and
sales respectively with the provision of subsequent service. To date,
the company has constructed 98 wind farms with 568 wind energy plants
and a total nominal output of 814 MW.

In addition to its business activities in the established German home
market, PNE WIND AG is increasingly expanding into dynamic growth
markets and is already represented in joint ventures and by
subsidiary companies in Hungary, Bulgaria, Turkey, Great Britain,
Rumania, USA and Canada. In these countries wind farm projects with a
nominal output of up to 2,100 MW are being developed and are to be
completed in the medium term. In Germany (onshore), wind farm
projects with over 1,100 MW of nominal output are currently being
developed.

In addition, PNE WIND AG is developing offshore wind farm projects,
of which four major projects in German waters have already been
approved. An entry into promising foreign markets is also being
examined with regard to the offshore sector.

Further inquiry note:
PNE WIND AG
Head of communication
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
Scott McCollister
Tel: +49(0) 47 21 - 7 18 - 4 54
Fax: +49(0) 47 21 - 7 18 - 3 73
E-mail: scott.mccollister@pnewind.com

Investor Relations
cometis AG
Ulrich Wiehle / Janis Fischer
Tel: +49(0)611 - 205855-64
Fax: +49(0)611 - 205855-66
E-mail: fischer@cometis.de

end of announcement euro adhoc
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company: PNE WIND AG
Peter-Henlein-Str. 2-4
D-27472 Cuxhaven
phone: +49(0)4721 718 06
FAX: +49(0)4721 718 373
WWW: http://www.pnewind.com
sector: Alternative energy
ISIN: DE000A0JBPG2, DE000A0B9VG7 DE000A0Z1MR2 DE000A1EMCW3
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: free trade: Hannover, Berlin, München, Hamburg, Düsseldorf,
Stuttgart, regulated dealing/prime standard: Frankfurt
language: English