27472 Cuxhaven, de
+49 (611) 205855-64
PNE WIND AG has concluded the takeover of the majority shareholding in WKN AG and now holds approx. 53 percent
Volker Friedrichsen Beteiligungs-GmbH has informed PNE WIND AG that in addition to the approx. 3.1 million shares mentioned above, it will acquire 168,680 convertible bonds issued from PNE WIND AG in 2010 from Luxempart S.A., the current owner of the convertible bonds. The Volker Friedrichsen Beteiligungs-GmbH will then exercise the right to convert the bonds into 7,667,272 shares. Upon exercising this option, the Volker Friedrichsen Beteiligungs-GmbH will hold nearly 20 percent of the issued shares outstanding of PNE WIND AG.
PNE WIND AG and WKN AG have both been active for approx. 20 years in wind farm project development and conduct this business both in Germany and internationally. Synergies can be realised through joint purchasing and sales activities while the markets in which wind farms are developed also complement each other. The companies are currently active in project development in Germany, Hungary, Romania, Bulgaria, Turkey, UK, USA, Canada, France, Poland, Italy, Sweden, South Africa and Ukraine. The companies are developing onshore wind farm projects with a total nominal output of approx. 4,800 MW in these markets. PNE WIND AG also develops offshore wind farms and has already been successful in selling five of these.
In the financial year 2012, PNE WIND AG reported consolidated sales of EUR 84.4 million according to IFRS accounting rules, an operating result (EBIT) of EUR 20.4 million and a net income of EUR 17.0 million. In comparison, WKN AG in 2012 reported sales of EUR 44.4 million according to German Commercial Code HGB rules (audited), earnings before taxes (EBT) of EUR 9.1 million and a net income of EUR 6.6 million.
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