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PNE Wind ups 2011-2013 EBIT forecast

PNE Wind is upping its cumulative EBIT forecast for the period 2011-2013 to €60-72 million as offshore wind activities increase.

By Renewable Energy Focus staff

PNE Wind says the realisation of additional onshore wind farms and anticipated results of foreign activities are also contributing to the forecast increase.

This comes despite a fall in results for 2010, where the net income amounted to €7.9m, down 22%. 2010 revenues tumbled 52% to €65.5m and the EBIT dropped 35% to €9.5m.

Martin Bilhardt, Chairman of the Executive Board at PNE Wind AG, says: “For the future, we see significant revenue potential, both in our offshore wind farms and also in our onshore projects at home and abroad.

“During the coming three years from 2011 to 2013, we therefore expect to see an increase in the cumulative EBIT to between €60 and 72m.

“In particular, the significant progress made in the realisation of the offshore wind farm Gode Wind II shows that PNE Wind is continuing to make use of its tailwind to push forward. The future belongs to renewable energies and wind energy in particular will make a continuously increasing contribution to a secure and sustainable mix of energies during the coming decades,” he concludes.

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