PNE AG has reported a robust start to the 2026 financial year, with normalised EBITDA surging to EUR 17.9 million in the first quarter, compared to EUR 3.6 million in the same period last year. The significant improvement was driven by the sale of four wind energy projects and one photovoltaic project, alongside better wind conditions. Total operating revenue grew to EUR 68.9 million from EUR 55.7 million, while revenue increased 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.
Heiko Wuttke, CEO of PNE AG, attributed the positive performance to project sales and better wind conditions, as well as initial successes from the company's transformation and cost-cutting programme, Focus & Deliver. The company obtained new permits for a total of 14 wind and photovoltaic projects with a combined capacity of 335.9 MW during the quarter.
The project pipeline remained stable at 21.7 GW as of March 31, 2026, with wind onshore projects unchanged at 14.6 GW and photovoltaic projects slightly decreasing to 7.1 GWp from 7.2 GWp. Eight wind farms with a total output of 122.0 MW were under construction in Germany, including four service projects totaling 59.0 MW. Power generation rose to 262 GWh from 197 GWh, benefiting from improved wind conditions, which reduced CO2 emissions by approximately 198,000 tonnes. The services segment also expanded, with operations management contracts growing to around 3,234 MW from 3,103 MW at the end of 2025, driven by international business.
PNE is advancing its transformation and cost-cutting programme to create a leaner organization focused on wind energy onshore, photovoltaics, and battery energy storage systems (BESS). The company plans to emphasize integrated energy solutions and grid-supporting applications. Based on the first-quarter performance, the Board of Management confirmed its full-year guidance for 2026, expecting normalised EBITDA between EUR 110 million and EUR 140 million. The full quarterly statement is available here.