EQS-News: Quarterly results: PNE AG on the home stretch for a successful FY 2025

Corporate news

Quarterly results: PNE AG on the home stretch for a successful FY 2025

• First project sales successfully completed in Q3
• New permits for wind energy and PV projects with total output of 510 MW
• FY 2025 guidance confirmed

Cuxhaven, 13 November 2025 – PNE AG looks back on a successful third quarter of 2025, which is also reflected in the sale and commissioning of wind farms. Many new permits and an expansion of the project pipeline in the core markets compared to the end of 2024 also form the foundation for further success.

For the first nine months of 2025, the Group reported higher total output of EUR 263.7 million (previous year: EUR 210.9 million), revenues of EUR 142.2 million (previous year: EUR 77.6 million) and earnings before interest, taxes, depreciation and amortisation (EBITDA) of EUR 26.6 million (previous year: EUR 6.2 million). The operating result (EBIT) amounted to EUR –2.2 million in the first nine months of 2025 (previous year: EUR –17.8 million). Basic earnings per share stood at EUR –0.47 (previous year: EUR –0.64).

Following significantly poor wind conditions in the first quarter, wind levels improved over the course of the following two quarters. This compensated for some of the weak wind yield at the beginning of the year, but overall 2025 remains a weak wind year to date. As a consequence, PNE’s own wind farms’ power generation was lower than planned, with a corresponding effect on this segment’s result.

“We are on the home stretch for a successful 2025 financial year,” comments Heiko Wuttke, CEO of PNE AG. “Our first successful project sales have taken place as planned. Sales negotiations for further projects in Germany and in international markets are close to being finalised. As a consequence, we anticipate further sales in Germany, Poland or France during the fourth quarter.”

Project pipeline and sales

The PNE Group’s overall pipeline recorded a slight reduction from 18.9 GW as of 31 December 2024 to 18.6 GW, as planned and in accordance with the company’s strategy. Development in the markets of Germany, France, Poland and Italy is proceeding in a very positive manner. The PNE Group has continued to grow in these four countries.

As expected, the PNE Group sold the French wind farm “Clermont-en-Argonne” (14.4 MW) in July and the German wind farm “Sundern-Allendorf” (34 MW) in August. Further sales were realised in October with the “Genouillé” wind farm (11.3 MW) and three projects in Panama (103 MW of wind energy and 140 MWp of photovoltaics). The PNE Group has sold projects amounting to around 302 MW since the start of the year.

Rising level of construction activity and further permits

As of 30 September 2025, ten wind farms with total output of 168.8 MW were under construction in Germany. In addition, the PNE Group is constructing two wind farms with total output of 42.7 MW that have already been sold as service projects.

In the first nine months of 2025, PNE received permits in Germany in accordance with the German Immission Control Act (BImSchG) for eight further wind energy projects with a potential nominal output totalling 167.1 MW. Together with the international markets, the PNE Group’s new permits for wind and PV projects amounted to a total of 510 MW during the first three quarters of this year.

Expansion of PNE’s own operations

In the third quarter, the PNE Group commissioned the French wind farm “Genouillé” with output of 11.3 MW. With the wind farms “Bokel”, “Gnutz West Ib”, “Herbsleben-Dachwig” and “Stuvenborn Ib”, a total of five own wind farms with total output of 76 MW were connected to the grid during the first nine months of 2025. The IPP portfolio – in other words, the generation plants that the PNE Group itself operates – is growing continuously and amounted to 502 MW as of 30 September 2025.

The PNE Group’s own wind farms generated around 527 GWh of clean electricity during the first three quarters of 2025 (previous year: 485 GWh). This cut emissions by 400,000 tonnes of CO₂e (previous year: 365,000 tonnes).

Service business still on a successful trajectory

The expansion of the service business is helping to further increase the share of steady income at PNE AG. In the first nine months of 2025, the PNE Group expanded its international business of operations management as well as technical inspections and tests to include additional services. Furthermore, the order volume in the area of operations management stood at around 2,939 MW (31 December 2024: 2,909 MW).

Guidance confirmed

“We believe we are well positioned and continue to look to the future with confidence. For this reason, as far as our guidance for our 2025 financial year is concerned, we continue to expect positive Group EBITDA of between EUR 70 million and EUR 110 million,” notes Heiko Wuttke.

The quarterly statement on the third quarter of 2025 of PNE AG is available here:

https://www.pnegroup.com/fileadmin/user_upload/Finanzberichte_ENG/2025/251113_PNE_Q3_2025_EN_gesch.…

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 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, approval 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. The PNE Group is a sought-after partner for industry when it comes to solutions for refining electricity using Power-to-X technologies.

Your contact persons: