PNE Wind says 2017 EBIT to be at high end of guidance

"Courtesy of PNE WIND AG"

January 4 (Renewables Now) - German wind developer PNE Wind AG (ETR:PNE3) expects that its consolidated earnings before interest and tax (EBIT) in 2017 will be at the upper end of its guidance of between EUR 17 million (USD 20.5m) and EUR 23 million.

The company increased its 2017 EBIT forecast in November, saying then that whether it would achieve the upper or lower value of the guidance would depend on the sale of a French wind project under construction. 

On Friday last week, PNE Wind said consolidated EBIT will probably be at the high end as a result of the successful sale on the same day of the French wind project, called Longeves.

In November the EBIT outlook was increased from a previous range of breakeven to EUR 15 million as the company booked a consolidated EBIT of EUR 23.7 million in the first nine months of 2017.

(EUR 1 = USD 1.206)

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Plamena has been a UK-focused reporter for many years. As part of the Renewables Now team she is taking a keen interest in policy moves.

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