PNE AG Reports Strong Q1 2026 Results, Driven by Project Sales and Improved Wind Conditions

PNE AG has reported a strong start to the 2026 financial year, with normalized EBITDA surging to EUR 17.9 million in the first quarter, up from EUR 3.6 million in the same period last year. The company attributed the growth to successful project sales and improved wind conditions, alongside early benefits from its transformation and cost-cutting program, Focus & Deliver.

Total operating revenue rose to EUR 68.9 million, compared to EUR 55.7 million in the previous year, while revenue jumped to EUR 56.2 million from EUR 27.9 million. The operating result (EBIT) turned positive at EUR 3.2 million, reversing a loss of EUR 7.3 million in the prior-year quarter. The company also secured new permits for 14 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, CEO of PNE AG. “We’re also seeing initial successes from our transformation and cost-cutting programme, Focus & Deliver.”

The project pipeline remained robust at 21.7 GW, with wind onshore projects steady at 14.6 GW and photovoltaic projects slightly declining to 7.1 GWp. As of March 31, 2026, eight wind farms totaling 122.0 MW were under construction in Germany, including four service projects with 59.0 MW.

Power generation benefited from better wind conditions, rising to approximately 262 GWh from 197 GWh in the prior year, resulting in an estimated emissions reduction of around 198,000 t CO2e. The services segment also expanded, with operations management contracts growing to about 3,234 MW, driven by international business.

PNE is advancing its transformation to focus on wind energy onshore, photovoltaics, and battery energy storage systems (BESS), with an emphasis on integrated energy solutions and grid-supporting applications. The company confirmed its full-year guidance, expecting normalized 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,” Wuttke added. The full quarterly report is available at PNE Group website.

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