UK: Planning permission for Sallachy project by PNE WIND has been denied

This outcome is contrary to previous expectations. The grounds for refusal are currently being analyzed with the main reason for the refusal being based on visual impacts to the landscape. An objection to the refusal is being currently reviewed. For fiscal 2015, the Sallachy project with a contribution to earnings (EBIT) of approx. euro 25 million was an essential component of the 2015 consolidated EBIT guidance which was forecasted to be in the range of euro 30 to 40 million by year end. The Company previously expected at the group level a cumulative EBIT of euro 110 to 130 million for the fiscal years 2014 to 2016, and saw the prospect of raising the guidance under certain conditions.

The Company is currently reviewing the impact of the non-approval of the Sallachy project on these forecasts. At this time, the company sees lowering the 2015 EBIT guidance of euro 30 to 40 million by approx. euro 25 million to euro 5 to 15 million. The figures ??may prove to be more positive with the early implementation of onshore projects at home and abroad.