Germany · Delayed Price · Currency is EUR PNE AG Earnings Call Transcripts
Fiscal Year 2025
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Record total output and strong project sales in 2025, with normalized EBITDA at EUR 87 million. 2026 guidance targets normalized EBITDA of EUR 110–140 million, focusing on project sales and cost reductions, while navigating challenging market and regulatory conditions.
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Strong project sales and operational progress drove a 25% increase in total output and a sharp rise in EBITDA for the first nine months of 2025. Guidance for full-year EBITDA is confirmed, with further project sales and a market exit from Panama expected by year-end.
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Permits for 489 MW of new projects and a stable 19 GW pipeline drove strong development in H1 2025, though weak wind yields and no project sales led to lower EBITDA. Full-year guidance is maintained, with project sales and continued focus on core markets expected to boost H2 results.
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Q1 2025 saw stable output and strong project development, but EBITDA fell due to weak wind yields. The IPP portfolio expanded to 446 MW, and full-year EBITDA guidance of EUR 70–110 million was confirmed. Focus remains on core markets, project sales, and battery storage solutions.
Fiscal Year 2024
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Record financial results in 2024 with 28% output growth and 73% higher EBITDA, driven by strong project sales and IPP expansion. Strategic focus shifts to core markets, profitability, and risk reduction, with ambitious 2027 targets and ongoing market exits.
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Operational progress and a record project pipeline were achieved despite market headwinds. Financials show strong output but lower EBITDA due to delays and IFRS impacts, with a positive outlook for Q4 and a strategic shift toward balanced growth and profitability.