PNE WIND AG: Dividend for 2017 proposed

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PNE WIND AG: Dividend for 2017 proposed

Cuxhaven, March 21, 2018 - As a result of the positive end to the 2017 fiscal year, the Supervisory Board of PNE WIND AG decided today, in agreement with the proposal of the Board of Management, to suggest to the general meeting of shareholders on June 6, 2018 the distribution of a four percent dividend on the notional interest in the share capital per registered no-par value share entitled to a dividend for fiscal 2017.

The dividend proposal is based on the results of the 2017 financial year. The consolidated financial statements as at December 31, 2017, approved by the Supervisory Board, show total aggregate output of euro 186.9 million (prior year: euro 259.2 million) and operating profit (EBIT) of euro 23.1 million (prior year: euro 97.0 million). The basic earnings per share amount to euro 0.22 (prior year: euro 0.90). The Group's equity increased to euro 235.2 million (prior year: euro 229.4 million) and the equity ratio was approx. 48 percent (prior year: approx. 53 percent). Taking the liquid funds into account, the net liquidity was euro 14.1 million (as at December 31, 2016: euro 20.1 million). Cash and cash equivalents totalled euro 194.0 million (prior year: euro 147.7 million).

Markus Lesser, CEO, comments: "With the proposal to declare a dividend of euro 0.04 per eligible registered no-par value share for the positive 2017 fiscal year, we want our shareholders to participate in our success, as in previous years. We retain financial flexibility for investments in international project development. In addition, we will invest in the implementation of the new optimised strategy. The objective is to develop into a "Clean Energy Solution Provider".

PNE WIND AG's separate financial statements (HGB), also approved by the Supervisory Board, show net income totalling euro 32.6 million (prior year: euro 40.1 million). The retained earnings of PNE WIND AG amounted to euro 130.9 million on December 31, 2017 (prior year: euro 107.5 million).

PNE WIND AG will publish its 2017 Annual Report on March 28, 2018.

About the PNE WIND Group

PNE WIND Group, a company operating on an international level with two brands, PNE WIND and WKN, is one of the most experienced project developers in the field of onshore and offshore wind farms. Based on this success, the Company has developed to become a "clean energy solutions provider." From initial site exploration and the approval procedure performance to financing and turn-key construction to operation and re-powering, the Company's services encompass all the phases for developing and operating wind farms: based on this strong position, we continue to develop. In addition to wind energy, in the future the Company's offer will include photovoltaic, electricity storage and power-to-gas technologies with a focus on hydrogen.

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