PNE AG has reported a strong start to the 2026 financial year, with normalised EBITDA surging to EUR 17.9 million in the first quarter, compared to EUR 3.6 million in the same period last year. The significant growth was driven by successful project sales and better wind conditions, according to the company's quarterly results released on May 13, 2026.
Total operating revenue rose to EUR 68.9 million (previous year: EUR 55.7 million), while revenue increased to EUR 56.2 million (previous year: EUR 27.9 million). The operating result (EBIT) turned positive at EUR 3.2 million, compared to a loss of EUR 7.3 million a year earlier. The company sold four wind energy projects and one photovoltaic project during the quarter, and obtained new permits for 14 additional wind and photovoltaic projects with a combined capacity of 335.9 MW.
“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,” said Heiko Wuttke, Chief Executive Officer of PNE AG. “We’re also seeing initial successes from our transformation and cost-cutting programme, Focus & Deliver.”
The company's project pipeline remained robust at 21.7 GW at the end of the first quarter, slightly down from 21.8 GW at the end of 2025. The onshore wind pipeline held steady at 14.6 GW, while the photovoltaic pipeline decreased marginally from 7.2 GWp to 7.1 GWp. Eight wind farms with a total output of 122.0 MW are under construction in Germany, including four service projects with 59.0 MW.
In the power generation segment, PNE benefited from improved wind conditions, with power generation rising to approximately 262 GWh (previous year: 197 GWh). This resulted in CO2 emissions avoidance of around 198,000 tonnes (previous year: 149,000 tonnes), based on data from the Federal Environment Agency (2025).
The services segment also saw positive trends, with operations management contract volume increasing to about 3,234 MW (end of 2025: 3,103 MW), driven by growing international business. The company continues to execute its transformation and cost-cutting programme, Focus & Deliver, aiming to create a leaner organization focused on wind energy onshore, photovoltaics, and battery energy storage systems (BESS). Future emphasis will also be placed on integrated energy solutions and grid-supporting applications.
The Board of Management confirmed its full-year 2026 guidance, expecting normalised EBITDA 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,” added Heiko Wuttke.
PNE AG's Statement for the first quarter of 2026 is available here. The original press release can be viewed on NewMediaWire.
