PNE AG Reports Strong Start to 2024 with Record Project Pipeline

PNE AG, a renewable energy company, began the 2024 financial year with notable achievements in its operational and financial metrics, evidencing a strong start. For the first quarter, the company reported increased total aggregate output and continued expansion in its wind and photovoltaic (PV) projects.

During the initial three months, PNE AG’s total output touched €57.0 million, up from €45.3 million in the previous year, highlighting substantial growth. However, revenue saw a slight decrease to €31.4 million from €32.2 million in the prior year. EBITDA remained stable at €8.5 million, and earnings per share showed an improvement.

The company also noted significant advancements in the construction and preparation phases of its wind and PV projects, particularly in Germany and France. Despite experiencing some delays due to regulatory and environmental challenges, the projected growth trajectory remains robust.

PNE’s project pipeline, pivotal to its long-term success, achieved a new high of 19.8 gigawatts, marking substantive progress in both offshore and onshore projects. Moreover, the capacity of wind farms operated by PNE grew, enhancing its contributions to carbon emission reductions and energy security.

The company reaffirmed its financial outlook for the fiscal year, anticipating an EBITDA in the range of €40 to €50 million. This outlook is supported by PNE's strategic initiatives and ongoing expansion in operational management and international market presence.