CUXHAFEN (dpa-AFX) - The wind power and photovoltaic project developer PNE sees itself on course to achieve its targets for the year after the first quarter. Group CEO Markus Lesser confirmed the target of an operating profit of EUR 40 to 50 million in the current year, as the company announced in Cuxhafen on Wednesday. However, PNE also reported problems with transport permits and capacity bottlenecks at suppliers and grid operators, as well as difficulties in construction due to unfavorable weather conditions such as strong winds and wet ground. This has delayed the construction and commissioning of new wind farms. But the pace of implementation is increasing, said Group CEO Lesser. He intends to step down at the end of July. A successor has not yet been found.

In the first quarter, the total output of the PNE parks grew by a quarter to euro 57 million. However, turnover fell slightly to euro 31.4 million. Operating earnings before interest, taxes, depreciation and amortization (EBITDA) also fell slightly to euro 8.5 million. At the bottom line, the SDax company's loss decreased slightly: basic earnings per share amounted to minus euro 0.06 per share after minus euro 0.08 a year earlier./lew/stk