Quarterly results: PNE AG reports good start to 2026

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Quarterly results: PNE AG reports good start to 2026 

• Significant growth in normalised EBITDA to EUR 17.9 million
• Earnings driven by successful project sales and better wind conditions
• FY 2026 guidance confirmed

Cuxhaven, 13 May 2026 – PNE AG has made a successful start to the 2026 financial year. In the first quarter, four wind energy projects and one photovoltaic project were sold. At the same time, new permits were obtained for a total of 14 further wind energy and photovoltaic projects with total output of 335.9 MW.

This positive operational performance is clearly reflected in the key financial figures: total operating revenue grew to EUR 68.9 million (previous year: EUR 55.7 million), whilst revenue increased to EUR 56.2 million (previous year: EUR 27.9 million). Normalised EBITDA (EBITDA adjusted for one-off effects) was significantly higher at EUR 17.9 million (previous year: EUR 3.6 million). The operating result (EBIT) was also significantly higher, rising to a profit of EUR 3.2 million (previous year: EUR –7.3 million).

“We’ve made a good start to 2026. Project sales in particular, as well as better wind conditions compared with last year, have contributed to this positive performance,” notes Heiko Wuttke, Chief Executive Officer (CEO) of PNE AG. “We’re also seeing initial successes from our transformation and cost-cutting programme, Focus & Deliver.”

Further development of project pipeline and business expansion

The project pipeline remained stable, standing at 21.7 GW at the end of the first quarter (31 December 2025: 21.8 GW). The pipeline of wind energy onshore projects remained unchanged at 14.6 GW, whilst the pipeline of photovoltaic projects decreased slightly from 7.2 GWp to 7.1 GWp.

As of 31 March 2026, eight wind farms with total output of 122.0 MW were under construction in Germany. Of these, four wind farms with 59.0 MW are service projects.

In the power generation segment, PNE benefited from better wind conditions: power generation rose to around 262 GWh (previous year: 197 GWh). This cut emissions by around 198,000 t CO₂e (previous year: 149,000 t CO₂e) (source: Federal Environment Agency, 2025).

The positive trend continued in the services segment. The volume of contracts under operations management rose to around 3,234 MW (end of 2025: 3,103 MW), with international business in particular continuing to grow in importance.

Transformation and strategic focus

In parallel with its operational development, PNE is continuing to press ahead with its transformation and cost-cutting programme. The aim is to create a leaner and more focused organisation with a clear focus on wind energy onshore, photovoltaics and battery energy storage systems (BESS). In addition, the Company will in future place an even stronger focus on integrated energy solutions and grid-supporting applications.

Guidance confirmed

In light of the positive business performance, the Board of Management confirms its guidance for the 2026 financial year. Normalised EBITDA is still expected to amount to between EUR 110 million and EUR 140 million.

“Our strong start to the year and the progress achieved across all segments give us confidence for the rest of the year,” adds Heiko Wuttke.

PNE AG’s Statement for the first quarter of 2026 is available here:

PNE, Englisch, QM 1, 2026

About the PNE Group

The internationally operating PNE Group is listed in the SDAX. For more than 30 years, it has been one of the most experienced project developers in the area 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, permitting procedures and financing through 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 power plants, as well as battery storage solutions for more efficient use of renewable energies.

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