Quarterly results: PNE AG starts 2025 with a high level of development activity

• Good operating progress in project development and services
• Much lower wind volume squeezes power generation earnings
• Good starting basis for the rest of 2025

© PNE AGCuxhaven (renewablepress) - PNE AG performed well in the first quarter of 2025, with two wind farms commissioned in Germany strengthening its own generation portfolio. PNE also secured permits for two further wind farms and a photovoltaic project. In addition, the project pipeline grew slightly compared to the end of 2024. That is a good starting basis for the rest of 2025.

However, this good operational performance has been hampered by a sharp drop in power generation from wind energy. According to the BDEW, around 31 per cent less power was generated onshore by wind turbines across Germany than in the same period last year, due to the fact that there was much less wind. This also affected PNE’s wind farms, with the fall in production having a corresponding impact on earnings.

For the first quarter of 2025, the Group reported a stable total output of EUR 55.7 million (previous year: EUR 57.0 million), revenues of EUR 27.9 million (previous year: EUR 31.4 million) and earnings before interest, taxes, depreciation and amortisation (EBITDA) of EUR 3.6 million (previous year: EUR 8.5 million). Earnings before interest and tax (EBIT) were EUR –7.1 million (previous year: EUR 1.1 million). The undiluted earnings per share stood at EUR –0.14 (previous year: EUR –0.06).

“We have made a good start to 2025,” said Heiko Wuttke, CEO of PNE AG. “Adjusted for the extraordinarily low wind volume, our result would have been at least at last year’s level. This continues to fill us with confidence. With our robust growth strategy, we are focusing on a balanced mix of project sales and further expansion of the company’s own generation portfolio. Several projects are already in the advanced sales phase. We therefore expect several project sales in the second half of the year.”


Slight project pipeline growth

Overall, the nominal capacity of the pipeline for wind and PV projects grew from 18.9 GW at the end of 2024 to 19.0 GW. The pipeline for wind energy onshore projects grew slightly from 9,866 MW to 9,919 MW, while the pipeline for wind energy offshore projects remains well filled at 2,500 MW. The PV project pipeline saw moderate growth from 6,486 MWp to 6,534 MWp.


Extensive construction activity and further permits

As of 31 March 2025, ten wind farms with a total capacity of 252.0 MW were under construction in Germany and France. Of these, two wind farms with 87.9 MW are service projects. In Germany, PNE also secured permits in accordance with the Federal Immission Control Act (BImSchG) in the first quarter of 2025 for two further wind energy projects with a potential nominal capacity of 68.8 MW. Planning permission was also granted for a photovoltaic project with an output of 124 MWp.


Expansion of our own operations

Following the commissioning of the “Herbsleben-Dachwig” and “Stuvenborn Ib” wind farms, the PNE Group has taken further important steps on its way to becoming a major independent power producer. The IPP portfolio – that is to say, the generation facilities the company owns and operates itself – is growing. Including the biomass combined heat and power (CHP) plant in Silbitz, the figure is now 445.9 MW (previous year: 375.1 MW).

In total, around 197 GWh were generated in the first three months of 2025 (previous year: 247 GWh). This cut emissions by around 149,000 tonnes CO2e (previous year: 186,000 tonnes CO2e) (source: Federal Environment Agency, 2025).


Service business still on the right track

The expansion of the service business is helping to further increase the share of steady income at PNE AG. In the first three months of 2025, the PNE Group was able to expand its international business of operations management as well as technical inspections and tests with additional services. The order volume in the area of operations management stood at around 2,845 MW (31 December 2024: 2,909 MW).


Guidance confirmed

“We are very positive as we look ahead to the rest of the 2025 financial year and confirm the guidance for the 2025 financial year with Group EBITDA of EUR 70 to 110 million,” said Heiko Wuttke.


PNE AG’s announcement for the first quarter of 2025 is available here:
www.pnegroup.com/fileadmin/user_upload/Finanzberichte_ENG/2025/250509_PNE_Quarterly_Statement_Q1.pdf


About the PNE Group

The internationally operating PNE Group is listed on the SDAX as well as the TecDAX. For more than 30 years, it has been one of the most experienced project developers in the field of onshore and offshore wind farms. The focus is on the development of wind energy and photovoltaic projects worldwide as well as on power generation with its own wind farms. Its portfolio covers all project planning phases, from site investigation, approval procedures and financing to construction, operation and repowering. As a Clean Energy Solutions Provider, the PNE Group also offers services for the entire life cycle of wind farms and photovoltaic plants. The PNE Group is a sought-after partner to industry for solutions used in the refinement of electricity via power-to-X technologies.


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Cuxhaven, 09 May 2025


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