PNE AG has reported a strong start to the 2026 financial year, with significant growth in key financial metrics driven by successful project sales and improved wind conditions. The company's normalised EBITDA surged to EUR 17.9 million in the first quarter, compared to EUR 3.6 million in the same period last year, reflecting a robust operational performance.
Total operating revenue rose to EUR 68.9 million from EUR 55.7 million, while revenue more than doubled to EUR 56.2 million from EUR 27.9 million. The operating result (EBIT) turned positive at EUR 3.2 million, compared to a loss of EUR 7.3 million in the prior year. These results underscore the company's successful execution of project sales and the benefits of favorable wind conditions.
During the quarter, PNE sold four wind energy projects and one photovoltaic project. Additionally, it obtained permits for 14 new wind and photovoltaic projects with a combined capacity of 335.9 MW. The company's project pipeline remained stable at 21.7 GW, with wind onshore projects accounting for 14.6 GW and photovoltaic projects at 7.1 GWp.
In the power generation segment, electricity output increased to 262 GWh from 197 GWh, thanks to better wind conditions. This generation helped avoid approximately 198,000 tonnes of CO2 emissions, up from 149,000 tonnes in the prior year. The services segment also continued to grow, with operations management contracts reaching around 3,234 MW, driven by international expansion.
CEO Heiko Wuttke noted that the company's transformation and cost-cutting program, "Focus & Deliver," is showing initial successes. The program aims to create a leaner organization with a clear focus on wind onshore, photovoltaics, and battery energy storage systems. PNE is also placing greater emphasis on integrated energy solutions and grid-supporting applications.
Based on the positive first-quarter performance, PNE confirmed its guidance for the full year 2026, expecting normalised EBITDA between EUR 110 million and EUR 140 million. The company's strong start and progress across all segments provide confidence for the remainder of the year, Wuttke added.
PNE AG is listed in the SDAX and has over 30 years of experience in developing onshore and offshore wind farms. The company's detailed first-quarter statement is available at PNE Group.
