EANS-News: PNE WIND AG publishes nine-month figures 2011

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quarterly report

Subtitle: • Successful further development of project pipeline at
home and abroad • Forecast for fiscal year 2011 to 2013 confirmed

Cuxhaven (euro adhoc) - 7 November 2011 - Today, the wind farm
project developer PNE WIND AG (ISIN DE000A0JBPG2) submitted the
report on the development of the first nine months of fiscal year
2011. The company development is characterised by activities in the
offshore area as well as the further development of the project
pipeline of wind farms in Germany and abroad. This is connected with
considerable inputs. Because of these input costs for future
income-generating wind farm projects, PNE WIND AG closed the first
nine months of 2011 with an operating result (EBIT) of EUR -0.7
million (previous year: EUR 7.9 million). As short-term and
medium-term positive results, especially from the offshore area, are
expected, PNE WIND AG maintained the prediction that the operating
result (EBIT) in fiscal years 2011 to 2013 will be total of at least
EUR 60 to 72 million.

Due to a lower number of wind farms built onshore, strongly
fluctuating revenues with one project planner fell at the Group level
from EUR 56.2 million to EUR 33.1 million. Besides activities in the
offshore sector, the Kemberg II wind farm which is under
construction, as well as revenues in the power generation segment, is
reflected here. The windy third quarter, among other things, ensured
a high level of power generation in our own operated wind farms.

Compared with the previous year, cash flows from current business
activities significantly improved and is now EUR 2.8 million
following EUR -8.4 million in the period under comparison. The
positive cash flow is mainly due to the decrease in receivables and
other assets from the receipt of a milestone payment from the Danish
energy company DONG Energy Power A/S for the offshore project "Borkum
Riffgrund I". With cash and cash equivalents of EUR 26.8 million (31
December 2010: EUR 39.2 million), PNE WIND AG has a strong basis for
the further development of wind farm projects in Germany and abroad.
Furthermore, a consistently high equity ratio of around 40 percent
(31 December 2010: around 41 percent) is a stable financial
foundation of the Group.

An important factor for the company development in the first nine
months of the fiscal year was the offshore department. Offshore wind
power is becoming increasingly seen as a supporting pillar in the
energy mix of the future and is supported by the federal government
accordingly. PNE WIND AG is benefiting from this, as a project
developer with more than a decade of experience in this area and six
own offshore projects, two of which have already been approved, they
are excellently positioned in the market.

This is how PNE WIND also made significant progress in the last nine
months with the furthest developed own offshore project "Gode Wind
II". Both the contracts on the delivery of 84 wind turbines with the
manufacturer Vestas and also the preliminary agreements for all
additional components, have been signed. The unconditional approval
for the grid connection by the network operator TenneT is available.
With the completion of the negotiations with the equity investors,
which are in the decisive, exclusive phase, the project is just about
to enter the construction phase.

Martin Billhardt, Chairman of the Management Board of PNE WIND AG:
"The Group result of the first nine months reflects our efforts in
future projects - this particularly applies to the expansion of the
offshore area. The planned implementation of the project "Gode Wind
II" will enable us to reap the fruits of our labour. We therefore
maintain our forecast, which, according to the EBIT of PNE WIND AG,
will amount to at least EUR 60 to 72 million in the fiscal years 2011
to 2013."

The nine-month financial report which was published today, as well as
the report on the third quarter of 2011, which is available on the
website under www.pnewind.com, offers a full overview of the business
results of PNE WIND AG.

Company profile

PNE WIND AG, which is headquartered in Cuxhaven, plans and implements
wind farm projects on land (onshore) and at high sea (offshore). Core
competencies are in the development, planning, implementation and
financing of wind farms, as well as their operation and sales with
associated service. So far, the company has installed 97 wind farms
with 563 wind power plants and a total capacity of 804 MW.

Besides business activities in the established German domestic
market, PNE WIND AG is increasingly expanding into dynamic growth
markets and is already represented through joint ventures and
subsidiaries in Hungary, Bulgaria, Romania, Turkey, United Kingdom,
USA and Canada. In these countries, wind farm projects with a
capacity of up to 3,725 MW are currently being implemented for the
medium term. In Germany (onshore) wind farm projects with a nominal
capacity of more than 1,100 MW are currently in progress.

Furthermore, PNE Wind AG develops offshore wind farm projects, of
which three major projects in German waters have already been
approved. Entry into promising foreign markets will also be 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 / 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: regulated dealing/prime standard: Frankfurt, free trade: Berlin,
Hamburg, Stuttgart, Düsseldorf, Hannover, München
language: English