PNE Starts Fiscal Year 2026 with Strong Earnings Growth – Revenues and EBITDA Rise Significantly
Cuxhaven (Germany) – PNE AG has made a strong start to fiscal year 2026, reporting a significant increase in earnings. A robust first quarter, driven by project sales and improved wind conditions, led to a substantial rise in revenue and key earnings figures, as well as improved operational momentum across all segments.
Strong first quarter 2026: earnings rise sharply
PNE AG started the year with significantly improved operational performance. In the first quarter, revenue increased strongly to EUR 56.2 million (Q1 25: EUR 27.9 million). Normalised EBITDA also rose significantly to EUR 17.9 million (Q1 25: EUR 3.6 million). Total output increased to EUR 68.9 million (Q1 25: EUR 55.7 million).
According to PNE, key drivers were successful project sales as well as improved wind conditions, which contributed to higher wind power generation. EBIT also turned significantly positive, reaching EUR 3.2 million compared to EUR -7.3 million in the prior-year period.
CEO Heiko Wuttke emphasises the operational momentum: “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.”
Project pipeline stable at over 21 GW – approvals increase
Project development remains a key growth driver. At the end of the first quarter, the pipeline stood at 21.7 GW, broadly stable compared to year-end 2025 (Q1 25: 21.8 GW). While the onshore wind pipeline remained unchanged at 14.6 GW, the PV pipeline slightly declined to 7.1 GWp.
At the same time, PNE secured approvals for 14 wind and solar projects with a combined capacity of 335.9 MW during the quarter. In Germany, eight wind farms with a total capacity of 122 MW are currently under construction, including four service projects.
In the power generation segment, the company benefited from improved meteorological conditions. Electricity generation rose to around 262 GWh compared to 197 GWh in the prior-year period.
The services segment also continued its positive development: managed capacity increased to around 3,234 MW from 3,103 MW at the end of 2025, with international business becoming increasingly important.
Transformation programme underway – full-year guidance confirmed
Alongside operational growth, PNE continues to advance its transformation and cost reduction programme “Focus & Deliver”. The aim is a leaner organisation with a clear focus on onshore wind, photovoltaics, and battery energy storage systems (BESS). In addition, the company is placing greater emphasis on integrated energy solutions and grid-supporting applications.
The strong operational performance is reflected in the confirmed outlook. For fiscal year 2026, the management board continues to expect normalised EBITDA between EUR 110 and 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 said.
Source: IWR Online, May 05 2026