Publisher: PNE AG
PNE AG: Continued success with strong Q2 result
• Total aggregate output and EBITDA increased significantly.
• Massive growth of wind and PV project development pipeline
• Expansion of internal portfolio continued
Cuxhaven (renewablepress) - PNE AG closed the first half of 2022 very successfully in operational and financial terms. This is the result of the half-year financial report published today.
For the first half of 2022, the Group reports total aggregate output of euro 105.2 million (prior year: euro 93.8 million), revenues of euro 52.1 million (prior year: euro 40.7 million), and earnings before interest, taxes, depreciation and amortisation (EBITDA) of euro 17.5 million (prior year: euro 13.3 million). The reported basic earnings per share of euro 0.14 (prior year: euro 0.01) were positively influenced, in particular, by extraordinary interest income from subsequent measurements of the Group's interest rate swaps and loan liabilities. At the same time, PNE AG was able to strongly expand its pipeline of projects under development (project pipeline) as well as its own portfolio of wind turbines.
Massive growth of wind and photovoltaic project pipeline
In the first half of 2022, PNE AG succeeded in significantly increasing its pipeline of wind and photovoltaic (PV) projects to approx. 9.1 GW/GWp compared to the previous year's value of approx. 6.5 GW/GWp at that time. The acquisition of a majority stake of 51 percent in Coliaenergia ESPAÑA (KOLYA) after the end of the reporting period and the 1,808 MWp contributed by KOLYA as a result have now massively increased the company's total wind and PV pipeline to approx. 11 GW/GWp (as at July 27, 2022).
"Years of continuous implementation of our realignment as a clean energy solutions provider and our strategic investments in our business model are now paying off. Our project pipeline has increased significantly since last summer, our EBITDA result has risen by more than 30 percent compared to the same period last year, we are making great progress in expanding our own operations, and our robust business model enjoys great confidence in the market," said Markus Lesser, CEO of PNE AG.
Expansion of internal portfolio continued
At the end of the first half of the year, the portfolio of wind farms operated by the company, including the projects "Wahlsdorf" (19.4 MW) and "Gnutz" (8.4 MW), amounted to approx. 261 MW. PNE AG expects to be able to commission further wind farms for its own portfolio this year. A total of 124 MW is currently under construction for PNE's own operations. The approval procedures for further projects are underway. This brings the Group ever closer to its target of expanding its own projects under construction or in operation to up to 500 MW by the end of 2023.
In the first half of 2022, the company's own wind turbines were already producing approx. 268 GWh of clean electricity, saving around 173,000 tonnes of CO2.
Markus Lesser, CEO of PNE AG, summarises: "PNE is fully on track, and we are excellently positioned for further development, although the market environment is becoming more challenging in terms of raw material and purchasing prices as well as delivery times. These, however, will be partially offset by the increase in electricity prices. Based on the results in the first half of 2022, we confirm our target for the full year: We expect Group EBITDA of euro 20 to 30 million in respect of our guidance for the 2022 fiscal year."
About the PNE Group
The internationally operating PNE Group with its brands PNE and WKN is one of the most experienced project developers of onshore and offshore wind farms. Based on this success, the Group has developed into a "clean energy solutions provider". From initial site exploration and implementation of approval procedures via financing and turnkey construction to operation and repowering, the company's services encompass all phases of project development and operation. In addition to wind energy, the company's range of offers includes photovoltaics, electricity storage, service products and the supply of clean electricity. PNE is also focussing on the development of power-to-X solutions.
Cuxhaven, 10 August 2022
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About PNE AG
PNE Group, a company operating on an international level with two brands, PNE and WKN, is one of the most experienced project developers in the field of onshore and offshore wind farms. Based on this success, the Company has developed to become a clean energy solutions provider.
From initial site exploration and the approval procedure performance to financing and turn-key construction to operation and re-powering, the Company´s services encompass all the phases for developing and operating wind farms: based on this strong position, we continue to develop. In addition to wind energy, in the future the Company´s offer will include photovoltaic, electricity storage and power-to-gas technologies with a focus on hydrogen.
Press contact at PNE AG
Phone: +49 (0)4721 / 718-453