EANS-News: PNE WIND AG publishes 2011 half year results

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quarterly report

Subtitle: • Offshore business drives company development forward
• Significant progress achieved abroad
• Forecast for financial years 2011 to 2013 confirmed

Cuxhaven (euro adhoc) - August 8, 2011 - The wind farm developer PNE
WIND AG (ISIN DE000A0JBPG2) has completed the first half year of 2011
successfully. The operating result (EBIT), the fundamental key value
for the entrepreneurial success of a wind farm developer, lay at
about EUR 0.9 million (previous year: EUR 8.2 million). The positive
result is particularly due to the successful further development of
the offshore projects. In addition, the company realised a turnover
amounting to EUR 16.6 million at corporate level for the first six
months of 2011. The drop in comparison to the previous year´s period,
in which EUR 41.1 million was turned over, is the result of the
planned lower number of onshore wind farms realised.

In comparison with the previous year, cash flow from current business
activities increased and amounted to EUR 6.6 million (previous year:
EUR -3.7 million). This positive cash flow is mainly due to a
milestone payment of about EUR 6.7 million from the Danish energy
corporation, DONG Energy Power A/S, for the offshore project "Borkum
Riffgrund I".

Despite the slight decline in the shareholders´ equity - primarily
due to the dividend payment - the equity ratio remained at a
continuing high level of about 41 percent (December 31, 2010: about
41 percent). With liquid funds of EUR 36.2 million at the half year
(December 31, 2010: EUR 39.2 million), PNE WIND AG continues to
assert a strong position for the further development of offshore
projects and international expansion.

Significant progress was made in project development - above all in
the offshore segment - during the first half year. Thus PNE WIND AG
received the unconditioned approval for the grid connection of the
"Gode Wind II" offshore wind farm from the responsible transmission
grid operator TenneT. The company was also able to gain the interest
of ten European banks in financing this wind farm. In general,
offshore wind energy is seen as a growth driver for the national and
international wind energy markets. PNE WIND AG will rigorously
exploit this potential.

In the onshore sector, significant progress was made in the
international development and marketing of wind farm projects.
Amongst other measures, extensive investment in Great Britain is
planned. An office was opened in Edinburgh in order to drive this
forward in a targeted manner. The company also broke into the North
American market by means of a sales agreement for a 20 MW wind farm
in South Dakota (USA). Approval for a 36 MW wind farm in Hungary was
also finally obtained. PNE WIND AG therefore sees attractive
international growth prospects.

Martin Billhardt, Chairman of the Board of Directors of PNE WIND AG,
draws a positive conclusion from the first half year of 2011: "Our
result for the first six months is fully as planned. Significant
progress has been achieved in both our offshore and foreign
activities. Despite the high preliminary costs for the establishment
of our projects both in Germany and abroad, we were able to achieve a
positive operational result for the half year." Martin Billhardt is
also optimistic for the future: "We expect to see significant
progress in the coming years, especially in the offshore wind energy
sector. We are therefore convinced that, with our six own wind farm
projects in the North Sea PNE WIND is well positioned for further
company growth." Based on the half year result, the Board of
Directors confirms its forecast whereby PNE WIND AG´s EBIT will grow
to a cumulative value of at least EUR 60 to 72 million during the
financial years from 2011 to 2013.

The report on the first half year of 2011, which is published today,
provides a comprehensive overview of PNE WIND AG´s business results
and is available in the internet at www.pnewind.com

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 1.100 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.

Further inquiry note:
PNE WIND AG
Press and 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 / Galina Khokhlova
Tel: +49(0)611 - 205855-22
Fax: +49(0)611 - 205855-66
E-mail: khokhlova@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
mail: info@pnewind.com
WWW: http://www.pnewind.com
sector: Alternative energy
ISIN: DE000A0JBPG2, DE000A0B9VG7 DE000A0Z1MR2 DE000A1EMCW3 DE000A1KRJ27
indexes: CDAX, Prime All Share, Technology All Share
stockmarkets: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, Hannover, München
language: English