PNE AG on Growth Track in the First Nine Months of 2025: Significant Increase in Revenue and EBITDA - Project Pipeline Expanded - Forecast Confirmed

Cuxhaven (Germany) - PNE AG made significant progress in the third quarter of 2025 and sees itself on track for a successful financial year. The Cuxhaven-based company reports a total output of €263.7 million for the first nine months of 2025, representing an increase of around 25 percent compared to 2024 (Jan-Sep 2024: €210.9 million).

Revenue rose by 83 percent to €142.2 million (Jan-Sep 2024: €77.6 million). EBITDA increased to €26.6 million (+329 percent), while EBIT remained negative at -€2.2 million but improved by around 88 percent compared to the same period last year (Jan-Sep 2024: -€17.8 million).

After weak wind conditions in the first quarter, PNE was able to increase electricity production with better wind conditions over the remainder of the year, partially compensating for the low wind output at the beginning of the year.

The project pipeline was reduced as planned to 18.6 GW (end of 2024: 18.9 GW). In total, PNE sold projects with a capacity of around 302 MW this year, including wind farms in France, Germany, and Panama. In Germany, the company received approvals for eight new wind projects with a total capacity of 167 MW. Together with approvals in international markets, new permits for wind and PV projects in the first three quarters amounted to 510 MW.

In its own operations, PNE commissioned five new wind farms with 76 MW in 2025. The IPP portfolio grew to 502 MW as of 30 September 2025. The company’s own facilities generated 527 GWh of electricity in the first nine months (Jan-Sep 2024: 485 GWh), avoiding around 400,000 tons of CO₂e. The service business also expanded: the volume of managed operational projects rose to 2,939 MW (31 December 2024: 2,909 MW).

“We are on the home stretch for a successful 2025 financial year,” said CEO Heiko Wuttke. The first project sales have been completed, and further transactions in Germany, Poland, and France are close to completion. “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,” Wuttke added.

Source: IWR Online, 13 Nov 2025