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Press release

PNE AG continues its positive momentum in the first nine months of 2022

• EBITDA increased significantly
• Wind and PV project pipeline raised to 11.4 GW/GWp
• Internal operations for electricity generation expanded


Cuxhaven (renewablepress) - PNE AG closes the first three quarters of 2022 very successfully. Despite the challenging market environment, PNE significantly increased its corporate results and is well prepared for the future thanks to its full project pipeline.

For the first nine months of 2022, the Group reported total aggregate output of euro 152.1 million (prior year: euro 134.6 million) and revenues of euro 76.7 million (prior year: euro 54.2 million). Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased by 66 percent year-on-year to euro 21.1 million (prior year: euro 12.7 million). The basic earnings per share increased to euro 0.09 (prior year: euro -0.11).

"We have completed the first nine months very successfully. Our project pipeline is well filled, the expansion of our own portfolio is progressing according to plan, and we have significantly expanded our activities in the "service products" segment", said Markus Lesser, CEO of PNE AG. "The "electricity generation" segment contributed to the good results and overall performance. The higher number of wind turbines in operation, combined with high electricity prices, compensated for the additional expense for increased material costs. " In the first nine months of 2022, the PNE Group's internal electricity generation amounted to approx. 346 gigawatt hours of clean power, thus reducing CO2 emissions into the environment by 230,000 tonnes. "We are proud that we are making an important contribution to climate protection and secure energy supply with our plants," says Markus Lesser.


Wind and PV project pipeline is growing strongly

Overall, the pipeline for wind and photovoltaic projects of the PNE Group increased significantly by 4,984 MW/MWp to 11,430 MW/MWp in the first nine months of 2022 compared to the same period last year. PNE was able to expand the pipeline of onshore wind energy projects to 7,381 MW (prior year: 5,652 MW) despite the continuous realisation of wind farms. There has also been significant progress in the development of photovoltaic projects. The pipeline of projects in progress increased to 4,049 MWp (prior year: 794 MWp). With the acquisition of a majority stake of 51 percent in Coliaenergia ESPAÑA S.L. (KOLYA) in July 2022 as well as the growth in the first nine months of 2022, the company's PV project pipeline has increased fivefold compared to the same period last year. In addition, PNE is continuing the construction of wind farms on behalf of customers in Sweden, Poland and France and is developing further projects nationally and internationally.


PNE expands its own portfolio

In the first nine months of this year, PNE was able to commission the three wind farms "Wahlsdorf", "Gnutz I" and "Kuhstedt II". The portfolio of internally operated wind farms thus increased to approx. 283 MW. By the end of the year, PNE plans to commission further wind farms for its own portfolio. The enterprise currently has a total of 102 MW under construction for its own operations. The approval procedures for further projects are underway. This brings the Group another step closer to its strategic goal of expanding its own operations to up to 500 MW by the end of 2023.


Service business continues to grow

The expansion of the service business also contributes to further increasing the share of steady earnings. The international business of operations management and technical inspections and tests was expanded in the first nine months in Sweden and Poland with additional services and extended to include the market of Lithuania. As a result, the order volume managed by PNE in operations management was once again significantly increased to over 2,200 MW. The PNE Group is thus one of the largest operations management companies for renewable energy plants in Germany.


Forecast confirmed

Markus Lesser explains: "We are very satisfied with this year so far, the strategy implementation is going well, and we also see ourselves well prepared for the coming period. At present, it should be taken into account that the interventions planned by the EU Commission and the German government to skim off "windfall profits" have not yet been defined. Based on the results in the first nine months of 2022, we confirm our target for the full year: we expect Group EBITDA of euro 20 to 30 million in respect of our guidance for the 2022 fiscal year."


About the PNE Group

The internationally operating PNE Group is listed on the SDAX and, with its brands PNE and WKN, is one of the most experienced project developers of onshore and offshore wind farms. Based on this success, the Group has developed into a "clean energy solutions provider". From initial site exploration and implementation of approval procedures via financing and turnkey construction to operation and repowering, the company's services encompass all phases of project development and operation. In addition to wind energy, the company's range of offers includes photovoltaics, electricity storage, service products and the supply of clean electricity. PNE is also focussing on the development of power-to-X solutions.


Cuxhaven, 09 November 2022


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Attention editorial offices - For further questions please contact:

Media contacts:

PNE AG
Alexander Lennemann
Corporate Communications
Phone: +49 (0)4721 – 718-453
Fax: +49 (0)4721 – 718-373
E-Mail: Alexander.Lennemann@pne-ag.com

PNE AG
Christopher Rodler
Investor Relations
Phone: +49 (0)40 - 87933-114
Fax: +49 (0)4721 - 718-373
E-Mail: Christopher.Rodler@pne-ag.com


PNE AG
Peter-Henlein-Straße 2-4
27472 Cuxhaven

Internet: https://www.pne-ag.com/en




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