Press Releases 2004

ABO Wind posts solid annual net profits - Dividend payout suggested

Success with wind projects both in Germany and abroad

  • A profit of 450,000 euros for the first nine months
  • Expected annual results of 1 million euros before tax
  • Dividend right certificate with 8 percent interest guaranteed
  • Successes in Germany and additional internationalization

(Wiesbaden, 28 Oct. 2004) At the end of the third quarter of 2004, the company ABO Wind AG achieved a profit of 450,000 euros before tax. It is becoming apparent that the pre-tax profit will amount to approximately 1,000,000 euros at the end of the year. This means that ABO Wind has succeeded in overcoming the weak phase which has befallen the branch.

ABO Wind has made good progress with the internationalization of the project development and the making of sales. Dr. Jochen Ahn, chief executive manager of ABO Wind AG said, "We have sold wind parks to French, Greek and North European investors during the current business year. The demand among our traditional customers in Germany has also undergone a revival. In addition, we have also found new ways of pre-financing projects. The dividend rights certificates which are just in the process of being sold, is another part of our concept."

Mezzanine dividend right certificates guarantee 8 percent interest

In order to pre-finance the equity capital of wind park companies for a maximum period of approximately one year, ABO Wind has founded an independent mezzanine company. It pre-finances wind parks which are ready for construction and which must meet a large number of safety requirements.

ABO Wind AG guarantees the investors an annual interest rate of 8 percent and the mezzanine company additionally provides the guarantee that they can invest their funds at conditions which are fixed at all times.

Whereas it was possible in the past to sell the majority of the projects before the commencement of the construction work, it is today the case that especially international investors only take the wind parks over after commissioning. In addition, the inspection times during the sale are longer and generally speaking, the development times for
foreign projects are also longer. Therefore, the dividend right certificate supplements additional financing methods which ABO Wind has made use of last year in order to cover the increased pre-financing requirement.

The dividend right certificates can be subscribed to by small investors with a minimum investment of 3,000 euros. ABO Wind is also offering a limited partner's holding in the Marpingen wind park.

Wind parks for 33 million euros on stream or under construction

With 4 German wind parks and the first French project on stream, ABO Wind will have a total of 20 installations with an installed output of approximately 30 megawatts and an investment volume of around 35 million euros on stream by the end of 2004. The second French project which is ready for construction, which ABO Wind will also
complete as a turnkey project, will also have been sold by then.


It is to be expected that building permission will be granted in Germany and France for a total installed output of approximately 40 megawatts during the forthcoming months. As a result of the planned projects, the board of management assumes that in 2005 it will be possible in Germany and France to bring wind power installations with an installed output of approximately 50 megawatts to a stage where they are either ready for construction
or even on stream. In addition, the approved biomass heating and power station with an electrical output of 4 megawatts and numerous small biogas plants will also be pushed ahead.

"This year, we have proven that we can succeed in a difficult environment and also expect a good business year in 2005", said Dr. Jochen Ahn.


ABO Wind achieves balanced annual result

Success with the first construction permit for a biomass heating plant and projects abroad

  • Annual result balanced
  • Planning permission for a biomass heating plant with 4 MWel
  • Building of first wind park in France commences
  • Additional planning permissions granted in France and Spain

(Wiesbaden, 03/06/2004) ABO Wind AG held its ground well in the business year 2003 despite a difficult environment. “The balanced annual result after tax to the amount of ca. € 12,000 fell short of expectations, however, in comparison to the rest of the industry, this is a good result for us,“ Dr. Jochen Ahn, CEO of ABO Wind AG states.

The long drawn out saga of the Renewable Energies Act and the confusing political discussion prolonged approval processes and caused insecurity amongst buyers of wind power shares.

ABO Wind AG still managed to achieve its building target with ca. 35 MW output put into operation in Germany in 2003. Various delays were encountered in the planning of some projects in Germany, so that ca. 23 MW in locations with planning permission existed at the end of 2003, which could not be sold in the same year and therefore did not contribute to the success. The profits from these projects therefore will be realised in the current business year.

Construction permit granted for the first biomass project

ABO Wind AG received the planning permission for a biomass heating plant in the spring of 2004, which is particularly interesting in light of the new Act on Renewable Energies. The power plant with an investment volume of ca. 17 million Euro is created in Hamminkeln (North-Rhine Westphalia) and uses untreated residual wood as well as green waste from landscaping. The plant with 4 MW electrical as well as 14.5 MW thermal output is currently being financed and sold, so that the start of construction can be expected for 2004.

In addition, ABO Wind acquired various bio gas plants, which – just like the heating plant - benefit from the better conditions in the Act on Renewable Energies.

Start of construction in France – Approval in Spain

ABO Wind was the first German planner to be granted planning permission for a wind park in France at the end of 2003. The site of the project „Teterchen“, the first wind park in Eastern France, is currently being fitted, so that the 9 MW of installed output can go online in the autumn.

The two-year long preparatory work by ABO Wind in France is beginning to bear fruit. Consequently, ABO Wind could secure additional planning permission in 2004 for a project with 10 MW in Southern France. This, just like Téterchen in Lorraine, is also one of the first planning permissions granted in the region. Additional permissions to the scope of 20 MW are still expected during the year.

Success could also be achieved in Spain. The wind park „Velez Rubio“ in Andalusia reached the first and most important level of the planning permission process, so that the construction of the 50 MW park can commence at the beginning of 2005.

Internationalisation and forecast

“It is important that the internal expansion of ABO Wind progresses well. Although we secured locations in Germany for more than 70 MW, more than a third of our employees are working with the employees of the foreign subsidiaries on international wind parks. This makes our profits increasingly independent of developments in Germany. We have various pillars in conjunction with the interesting biomass projects and therefore are expecting a good business year 2004 and long term success“, Dr. Jochen Ahn says.



Alexander Koffka

Alexander Koffka

Tel. +49 611 267 65-515
Fax +49 611 267 65-599