PNE AG

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PNE AG

logo
legal form Corporation
ISIN DE000A0JBPG2
founding 1994
Seat Cuxhaven , GermanyGermanyGermany 
management
  • Markus Lesser, ( CEO )
  • Kurt Stürken, ( COO )
  • Jörg Klowat, ( CFO )
Number of employees 369 (2018)
sales 91 million euros (2018)
Branch Wind energy
Website www.pne-ag.com
As of December 31, 2018

The PNE AG (formerly Plambeck Neue Energien AG ) is a listed German wind farm -Projektierer based in Cuxhaven. The company plans and implements wind farm projects on land ( onshore ) and at sea ( offshore ). It employs around 360 people.

Business activity

To date, the group of companies has implemented more than 200 wind farms with a total nominal output of more than 2,600  megawatts (MW) in Germany , Poland , Italy , France , Spain and the USA . In addition to doing business in Germany, it is represented by subsidiaries and joint ventures in North America , Europe and South Africa .

Normally, the erected wind farms are sold in full, but after completion and commissioning the company also offers to take over the wind farm management, i.e. the technical and commercial management. This service is provided by a subsidiary. In addition, the group develops offshore wind farm projects, i. H. Wind farms on the sea. Unlike in rural areas, offshore wind farms are developed to the point of being ready for construction, so that the prerequisites are created to be able to start construction. In addition to developing its own projects, the company acts as a service provider for buyers of projects that have already been sold.

Corporate structure

The company's board of directors has three members. Meanwhile, six people are represented on the supervisory board , including one woman.

history

Company headquarters PNE, Cuxhaven

In 1979 Norbert Plambeck founded a group of companies with his father Otto Plambeck. This group since 1995 included the "wind farm marshland GmbH", which was completed in 1997 presented its first wind farm in Nordleda and 1998 under the name P Lambeck N ew E nergien to the stock market went. The Plambeck Neue Energien AG was initially a wholly owned subsidiary of Plambeck Holding AG . For board belonged from 1998 to 2008 Wolfgang von Geldern , who also together with Norbert Plambeck IPO had accompanied the AG. PNE has been listed on the Frankfurt Stock Exchange since 1998 . The share is traded in the Prime Standard segment .

In 2000 the mark of 100 MW installed nominal output was exceeded and in 2004 the building permit for the first offshore wind farm project (OWP) " Borkum Riffgrund I " was granted. In 2006 the building permit for the offshore wind farm " Gode ​​Wind I " was granted , and the total installed nominal output was over 500 MW. In 2007 the company expanded its activities internationally and founded joint ventures in Southeast European countries. In 2008 the company sold its stake in SSP Technology A / S , a Danish manufacturer of rotor blades , and has since concentrated exclusively on wind farm project planning. The expansion of internationalization also progressed through the establishment of branches in the UK , Romania and the USA .

The name was changed to PNE WIND in March 2009 and the Plambeck family and Plambeck Holding left the company completely. In the same year the company received the building permit for the offshore wind farm " Gode ​​Wind II ". By December 2010, 299 wind turbines with a total output of 462 MW and two biogas plants with a total of 1 MW were taken over into operational management.

In 2011 the Scottish Forest Service (FCS) selected the company as a partner for the development of wind farms in Central Scotland and the offshore wind farm "Nautilus II" was sold. In August of the following year 2012, the company sold the offshore wind farm projects “Gode Wind” I - III to the Danish company Dong Energy for a purchase price of 157 million euros.

In April 2013, the company announced that it had acquired around 54% of the Husum-based competitor WKN AG . A little later this stake was increased to over 82%. Since then, both companies have been run as independent brands under the umbrella of the corporate group. However, the takeover led to power struggles within the board of directors and the supervisory board. Long-time CEO Martin Billhardt left the company.

In 2014 the group of companies reached the mark of 2,000 MW of installed nominal output of wind energy. In 2014, PNE also started to transfer wind farms into a YieldCo .

The company sold its project pipeline in the UK in 2015, completing the largest transaction since the sale of the “Gode Wind” offshore projects. Since 2014, PNE has bundled completed wind farms into a portfolio. In December 2016, this 142 MW wind farm portfolio was sold to a subsidiary of Allianz Global Investors. The development of a European wind farm portfolio started in 2017. “Gode Wind 3” was awarded the contract in the first German tender for offshore wind farms.

At the end of 2001, the XETRA rate rose to the equivalent of EUR 40, but fell to less than a tenth in the following years. The share has been listed on the ÖkoDAX since September 24, 2007 . Around 50,000 shares / day were traded on the stock exchange in 2012. In 2013, more than 90% of the shares were in free float , the Baden-Württemberg Pension Fund for Doctors, Dentists and Veterinarians held around 3% of the voting rights and Volker-Friedrichsen-Beteiligungs-GmbH held 6.61% of the voting rights. By spring 2015, the share held by Volker-Friedrichsen-Beteiligungs-GmbH rose to 15% and the free float fell to around 80%.

The lowest price in 2012 was 1.32 euros. After it became known that the offshore projects "Gode Wind" I to III were being sold to the Danish energy group DONG Energy, the market value doubled within four months. A dividend of EUR 0.10 per share was paid for the 2012 financial year.

The PNE share is also listed in the Lower Saxony share index Nisax20 and since July 2013 in the RENIXX World.

According to the 2015 annual report, the subscribed capital at the end of the year was around EUR 76.6 million.

Corporate actions

  • In 2010 convertible bonds for around EUR 26 million were placed - broken down into bonds of EUR 100. The interest rate was 6.5% p. a. with a term from June 16, 2010 to December 31, 2014, with the interest payment being made on January 1 of the following year.
  • In May 2013, a bond was issued to finance the acquisition of the majority stake in WKN AG in the amount of around EUR 66.3 million with a denomination of EUR 1,000 and an issue price of 100%. The bond was with a coupon of 8% p. a. with a five-year term with maturity on June 1, 2018. The rating agency Euler Hermes gave PNE AG a BBB rating at the time of the issue . The bond is traded in the “ Regulated Market ” segment for corporate bonds of Deutsche Börse on the Frankfurt Stock Exchange.
  • In January 2020, Morgan Stanley Infrastructure Partners (MSIP) increased its stake from 27.35 to around 40 percent in the course of a voluntary public takeover offer.

Web links

 Wikinews: Offshore Projects  - September 7, 2012
 Wikinews: Share of the Year?  - December 8, 2012
 Wikinews: Power Struggle in the Supervisory Board  - June 22, 2015

Individual evidence

  1. ↑ a b PNE AG Annual Report 2018. (pdf) pne-ag.com, accessed on June 21, 2019 .
  2. ↑ http://www.pnewind.com/unternehmen/ueber-uns
  3. ↑ References PNE WIND
  4. ↑ a b c d e website of PNE WIND AG
  5. ↑ References operational management ( Memento of the original dated November 6, 2015 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Source: energy-consult.net, status: 02/2014 @1@ 2Template: Webachiv / IABot / energy-consult.net
  6. ↑ Management of PNE WIND
  7. ↑ http://www.cn-online.de/cn-galerie/gemeinsam-neue-projekte-anpacken.html
  8. ↑ EANS-News: Plambeck Neue Energien AG becomes PNE Wind AG
  9. ↑ References operational management ( Memento of the original dated August 12, 2013 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. Source: pnewind.com, status: 12/2010 @1@ 2Template: Webachiv / IABot / www.pnewind.com
  10. ↑ PNE Wind sells wind farms to Dong Energy Handelsblatt on August 14, 2012
  11. ↑ PNE WIND ad hoc announcement: Takeover of the majority in WKN AG ( Memento of the original from September 24, 2015 in the Internet Archive ) Info: The archive link was automatically inserted and not yet checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.pnewind.com
  12. ↑ PNE WIND ad-hoc announcement: PNE Wind now holds around 83% of WKN AG ( Memento of the original from September 24, 2015 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.pnewind.com
  13. ↑ http://www.iwr.de/news.php?id=27761
  14. ↑ Supervisory Board fires the CEO and himself , Handelsblatt dated August 14, 2015
  15. ↑ PNE WIND AG has founded YieldCo companies in Germany and Great Britain. In: pne.com. December 19, 2014, accessed April 28, 2016 .
  16. ↑ Homepage: Share price ( Memento of the original from October 19, 2011 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.pnewind.com
  17. ↑ Frank M. Rauch: Ösi. Öko-Strom-Index an exchange barometer for renewable energies. January 2013
  18. ↑ PNE WIND AG: Shareholder structure ( Memento of the original dated November 13, 2011 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.pnewind.com
  19. ↑ https://www.consorsbank.de/Wertpapierhandel/Aktien/Kurs-Snapshot/Profil/Untern Firmenprofil/DE000A0JBPG2-PNE-WIND- AG
  20. ↑ PNE WIND ad hoc announcement: Clearly positive result in 2012 is the basis for increased dividend proposal ( memento of the original from October 1, 2013 in the Internet Archive ) Info: The archive link was inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. @1@ 2Template: Webachiv / IABot / www.pnewind.com
  21. ↑ IWR News: Stock exchange: USA overtake China in the regenerative share index RENIXX World
  22. ↑ Annual Report 2015
  23. ↑ PNE WIND AG: Convertible Bond 2010 Conditions ( Memento of the original from October 1, 2013 in the Internet Archive ) Info: The archive link has been inserted automatically and has not yet been checked. Please check the original and archive link according to the instructions and then remove this notice. (PDF; 95 kB) @1@ 2Template: Webachiv / IABot / www.pnewind.com
  24. ↑ PNE WIND AG: Data and facts on the 2013 bond
  25. ↑ Morgan Stanley Fund will hold 40 percent of the shares in PNE