- Overall performance increased significantly
- Internal operations strengthened
- Project pipeline for wind and photovoltaics continues to grow
Cuxhaven, May 11, 2021 – PNE AG has made a dynamic start into the 2021 fiscal year, both in operational and in financial terms. The first quarter results are on target, as shown by the quarterly statement published today.
In the first quarter of 2021, the Group generated sales of euro 16.1 million (prior year: euro 15.7 million), total aggregate output of euro 49.4 million (prior year: euro 25.1 million), earnings before interest, taxes, depreciation and amortisation (EBITDA) of euro 6.3 million (prior year: euro 6.4 and undiluted earnings per share of euro 0.01 (prior year: euro 0.00).
Internal operations strengthened
The internationally operating developer of wind energy and photovoltaic projects was able to complete two wind farms with approx. 17 MW for its own wind farm portfolio. As a result, the wind farm portfolio operated by PNE has been expanded to 151.6 MW in the first quarter.
In addition, at the end of the first quarter, five wind farms with a nominal capacity of 97.1 MW were under construction in Germany.
Markus Lesser, CEO of PNE AG: "This brings us step by step closer to our goal of expanding our own operations to up to 500 MW by the end of 2023. We expect to be able to commission further wind farms for our own portfolio this year. These wind farms are under construction, and others are in the approval process. With our own operations, we want to expand the service business and make a further contribution to reducing the volatility of earnings and stabilising earnings and sales at a high level.“
International realisation of wind farms
The development of further projects was advanced both nationally and internationally. The construction of wind farms on behalf of customers in Sweden has been continued. In Poland, two further wind farms are under construction, and one project already sold was put into operation.
In addition, PNE has entered into sales processes in Romania, France, the USA, Sweden, Poland and South Africa for already well-developed wind energy projects, some of which are expected to be completed this year.
Wind and PV project pipeline continues to grow
PNE deems itself well positioned for the further development in its core business of project development and operation. The pipeline of onshore wind energy projects in the various phases of project development has been expanded to more than 5,500 MW in spite of the continuous realisation of wind farms. This is a very good basis for the PNE Group to continue its positive development in the future.
There was also further progress in the first quarter in the development of photovoltaic projects. In this field, PNE was able to expand the pipeline of projects in progress to 674 MWp. This, too, is an important component of the strategic further development.
Markus Lesser: "Accordingly, we can confirm our goals for the entire year: we expect Group EBITDA of euro 24 to 32 million in respect of our guidance for the 2021 fiscal year."
PNE is well on track. In spite of the current developments triggered by the COVID-19 pandemic, we are optimistic about the future.