Pne AG: Strong project pipeline despite challenges in the wind business

Pne AG: Strong project pipeline despite challenges in the wind business

Cuxhaven, Deutschland - Cuxhaven, November 7, 2024 - Pne AG is strongly presented in the operational business, despite a challenging annual start! With a stable project pipeline and numerous construction projects in the hindquarters, the company will be optimistic about the future. However, the numbers for the first nine months of 2024 show a mixed picture: a total output of 210.9 million euros is compared to a group result of -49.1 million euros. The interest expenses and a lower offer of wind have burdened the result, while electricity production decreased due to unfavorable weather conditions and delivery bottlenecks.

"The results of the first nine months are not the way we expected them. Nevertheless, we are confident for the fourth quarter and thus the year as a whole," explains CEO by Hornung Pedersen. The sale of projects in Germany and Scotland at the beginning of the fourth quarter as well as several milestone payments from international markets could significantly improve the result. Pne AG plans to confirm the Guidance for 2024 with a positive EBITDA between 40 and 50 million euros.

stable project pipeline despite challenges

The nominal output of the wind and photovoltaic projects has increased slightly, despite the sale of the US business. The pipeline now comprises 17,768 megawatts, while the wind energy projects on land have risen to 9,178 megawatts. In Germany and France, 13 wind farms with 288.6 megawatts are currently under construction. In addition, the PNE group received permits for seven wind farm projects and four photovoltaic projects in different countries in the first nine months of 2024. The Pne wind farms have already generated 485 GWh of clean electricity this year and thus saved 365,000 tons of CO2.

The service business is booming, with a supervised order volume of around 2,980 megawatts in operating management. Pne AG remains on the road to success and relies on a strong performance in the fourth quarter to master the challenges of the year and achieve the goals set.