Pne Ag · XETR:PNE3
Pne — PNE Wind — H1 2016 Earnings Presentation
15 slides from Pne's earnings presentation, Aug 11, 2016
Slide 1: PNE WIND AG Webcast Presentation 1H-2016
PNE WIND AG Webcast Presentation I 1H-2016 August 11, 2016
Slide 2: Disclaimer
DISCLAIMER This presentation is for information purposes only and does not constitute a public offer or invitation to subscribe for or purchase any securities of PNE WIND AG and neither this presentation nor anything contained herein shall form the basis of any contract or commitment whatsoever. Thi
Slide 3: 1H-2016 Highlights
PNE WIND GROUP 1H - 2016 HIGHLIGHTS OPERATIONAL AND FINANCIAL Project implementation according to plan - 97.8 MW completed, sold or under construction 142.5 MW of own wind farms - 98.4 MW commissioned, 38.1 MW under construction and 6 MW permitted in July - Electricity generation segment EBITDA doub
Slide 4: Onshore Pipeline
PNE WIND GROUP ONSHORE PIPELINE Country I-II III IV Total MW 82 MW in operation or under construction Germany 1,207 94 82 1,383 - Köhlen 21.3 MW - Holzthaleben 4.8 MW Bulgaria 121 0 0 121 - Altenbruch-Repowering 27 MW - Westerengel 23.1 MW United Kingdom 43 0 0 43 - Apensen 6.0 MW Italy 242 14 0 256
Slide 5: Wind Farm-Portfolio
PNE WIND GROUP WIND FARM-PORTFOLIO Scheduled Project Location Status MW completion Wind Farm-Portfolio Strategy Lower - Started in 2014, realization planned for end of 2016 Altenbruch II Commissioned 25.8 2009 Saxony Chransdorf Brandenburg Commissioned 57.6 2015 136.5 MW + 6 MW internally held - 98.
Slide 6: Offshore Projects
PNE WIND GROUP OFFSHORE PROJECTS Own Projects Zone Phase # WTG Total MW Nemo 4 2 80 480 Milestone payment of € 3.2m to be received - DONG reached FID for offshore project Borkum Riffgrund II Jules Verne 4 2 80 480 Nautilus I 4 2 80 480 Up to € 29m in milestones expected - From Borkum Riffgrund II an
Slide 7: Income Statement (IFRS)
PNE WIND GROUP INCOME STATEMENT (IFRS) In EURm 1H 2016 1H 2015 2015 Build-out of Wind Farm-Portfolio is main Sales 44.8 71.9 109.5 factor behind results during 1H-2016 Work in progress 12.2 15.8 116.1 - Total output and sales driven by stage of completion of wind farms and timing of sales Other inco
Slide 8: Balance Sheet Assets (IFRS)
PNE WIND GROUP BALANCE SHEET ASSETS (IFRS) Balance sheet developments primarily driven by investments in Wind Farm-Portfolio Property, Plant and Equipment at € 162.0m - Commissioned wind farms € 126.6m - Transformer stations € 10.7m - Building and property € 16.3m Inventories at € 162.5m - Offshore
Slide 9: Balance Sheet Liabilities (IFRS)
PNE WIND GROUP BALANCE SHEET LIABILITES (IFRS) Build-out of Wind Farm-Portfolio leads to deferral in earnings - Equity at € 152.8m, equating to an Equity ratio of 32% Non-current debt at € 228.1m - Project financing totals € 106.2m - 2013/18 corporate bond € 97.7m - 2014/19 convertible bond € 6.2m C
Slide 10: Regulatory Trends
PNE WIND GROUP REGULATORY TRENDS COP21 Paris Agreement - All necessary measures should be taken to keep global temperatures from rising more then 2 °C Legislation passed to support agreement - Germany, renewable energy in el. mix should nearly double to 55-60 percent by 2035 from 34 percent in 2015
Slide 11: EEG 2017 - Onshore
PNE WIND GROUP EEG 2017 - ONSHORE Tenders beginning in 2017 - 2,800 MW will be allocated per year during 2017-19 Transitional period - Projects with planning permission before Jan 1, 2017 and commissioned before Jan 1, 2019 may choose between feed- in-tariff regime and tender Limited grid capacity r
Slide 12: EEG 2017 - Offshore
PNE WIND GROUP EEG 2017 - OFFSHORE Germany targets 15,000 MW offshore - By 2030, up from 3,295 MW in 2015 Transitional period - Offshore wind farms, which are commissioned before the end of 2020, fall under previous fixed feed-in-tariff regime Two tenders totaling 3,100 MW - In March 2017 and 2018,
Slide 13: Outlook
PNE WIND GROUP OUTLOOK EBIT in 2016 up to € 100m - Based primarily on Wind Farm-Portfolio transaction Wind Farm-Portfolio grows to 142.5 MW - Conditions necessary for sale / placement are met Atlantis I is being prepared for upcoming tender in 2017 - Offshore project size has been increased to 584 M
Slide 14: Q&A
PNE WIND GROUP Q&A PNE WIND II company presentation II 08 2016 14
Slide 15: Thank You / Contact
THANK YOU CONTACT Rainer Heinsohn Head of Communication Tel: +49 (0) 47 21 – 7 18 - 453 Fax: +49 (0) 47 21 – 7 18 - 373 E-mail: rainer.heinsohn@pnewind.com Scott McCollister Head of Investor Relations Tel: +49 (0) 47 21 – 7 18 - 454 Fax: +49 (0) 47 21 – 7 18 - 373 Harnessing the power of the wind me