(Wiesbaden, 15 February 2008) ABO Wind AG will conclude the 2007 financial year with a very good net profit and distinctly exceed the previous year’s result. Precise figures and the amount of the dividend can only be announced after the preparation of the annual financial statement. Wind farms in Germany and France with a combined total of 80 megawatts of output have been installed. In addition, a biogas plant was connected to the grid in Germany with 500 kilowatts of output.
The financial situation has significantly improved, after the company was able to arrange an additional subordinated [does this mean a smaller loan?] loan for EUR 3 million and a whole series of other credit lines. ABO Wind therefore has a funding framework sufficient for the project volume of an entire year. Even with significant funds committed to wind power projects due to long delivery periods, the additional financing will enable an expansion of its international subsidiaries and also allow the acquisition of project rights to a greater extent.
In autumn 2007 ABO Wind purchased the rights for around 50 megawatts of consented wind farm projects which have now reached the ready-to-build stage. Negotiations for the purchase of additional projects are underway and ABO Wind has set itself the target of connecting at least 100 megawatts to the grid in Ireland during the coming years.
The number of employees has risen to around 80, on the basis of many new projects and new staff being hired in all countries. ABO Wind staff currently handle assured projects with combined capacity of more than 500 megawatts. Bulgaria has been added as the newest and ninth country to the ABO Wind portfolio. ABO Wind has established a subsidiary in Bulgaria in order to sound out the market.
ABO Wind is aiming for proportional growth in 2008 , which is intended to be achieved via further diversification into new countries and financing project portfolios. In 2008 the Directors of ABO Wind AG expect the consent of several projects, particularly in France, Ireland, Spain and Germany. Due to current project success, excellent annual results for 2008 and 2009 are anticipated.
