Revenues at the Cuxhaven-based wind developer crashed to €41.1m ($54.5m) compared to the €98.7m it posted during the same period last year. However, its operating profit rose to €8.2m from €8m.
PNE is steadily shifting its focus from the German onshore market – traditionally its bread and butter – to the riskier offshore sector and onshore projects in Eastern Europe.
Despite what chairman Martin Billhardt calls a “so-so market environment”, the firm managed to raise €28.5m
