DGAP-Adhoc: PNE WIND AG: Enhancing shareholders' equity instead of dividend payment for 2014


PNE WIND AG  / Key word(s): Dividend/Final Results

27.03.2015 12:06

Dissemination of an Ad hoc announcement according to § 15 WpHG, transmitted
by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

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Ad hoc disclosure pursuant to Section 15 WpHG
of PNE WIND AG (ISIN: DE000A0JBPG2)

PNE WIND AG: Enhancing shareholders' equity instead of dividend payment for
2014

Cuxhaven, March 27, 2015 - The Board of Management and the Supervisory
Board of PNE WIND AG decided today to propose to the Annual General Meeting
that no dividend be paid for the 2014 fiscal year. PNE WIND AG's financial
statements relevant for the dividend, which have been prepared pursuant to
HGB accounting standards and were given an unqualified auditor's opinion,
showed retained earnings of euro 63.3 million and an operating result
(EBIT) of euro 11.6 million. The IFRS consolidated financial statements,
which received a qualified auditor's opinion due to outstanding subsequent
audits at WKN AG, disclosed a positive operating result (EBIT) of euro 2.7
million and a consolidated net loss of euro -13.0 million. The reason for
the Group result arises from the so called YieldCo and the negative impact
on earnings in connection with the majority holding in WKN AG, which in
particular affected the consolidated financial statements. With the
YieldCo, projects are being, as planned, initially realised for our own
portfolio. The results from these project sales are therefore being delayed
into the future. Moreover, due to delays in project sales abroad, revenue
and earnings contributions from the relevant projects are also postponed.
Since the YieldCo project leads to a higher volume of own funds being tied
up until its planned sale, the Board of Management and the Supervisory
Board have come to the conclusion that enhancing shareholders' equity
should be given preference over distributing a dividend for the prior
fiscal year.

Based on the current level of knowledge, the Board of Management confirms
the published guidance, which forecasts the cumulative group EBIT totalling
euro 110 to 130 million during the 2014 to 2016 fiscal years.

PNE WIND AG published its full audited 2014 annual accounts and management
report on its internet page: www.pnewind.com.


27.03.2015 The DGAP Distribution Services include Regulatory Announcements,
Financial/Corporate News and Press Releases.
Media archive at www.dgap-medientreff.de and www.dgap.de

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Language:     English
Company:      PNE WIND AG
              Peter-Henlein-Straße 2-4
              27472 Cuxhaven
              Germany
Phone:        04721 / 718 - 06
Fax:          04721 / 718 - 200
E-mail:       info@pnewind.com
Internet:     http://www.pnewind.com
ISIN:         DE000A0JBPG2, DE000A0B9VG7, , DE000A1R0741, , DE000A12UMG0
WKN:          A0JBPG, A0B9VG, , A1R074, , A12UMG
Listed:       Regulated Market in Frankfurt (Prime Standard); Regulated
              Unofficial Market in Berlin, Dusseldorf, Hamburg, Munich,
              Stuttgart
 
End of Announcement                             DGAP News-Service
 
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