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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

Original content of: PNE WIND AG, transmitted by news aktuell

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