EQS-News

PNE AG: Targets achieved for fiscal year 2023 and growth course continues

EQS-News: PNE AG / Key word(s): Annual Results PNE AG: Targets achieved for fiscal year 2023 and growth course continues 27.03.2024 / 08:00 CET/CEST The issuer is solely responsible for the content of this announcement. Corporate News

 PNE AG: Targets achieved for fiscal year 2023 and growth course continues 

• EBITDA in the upper guidance range
• Strategic goals of Scale up 1.0 achieved or significantly exceeded
• Pipeline of projects in development still with record growth

Cuxhaven, March 27, 2024 – 2023 was a very successful year for PNE AG. As a result of successful operational business developments, total aggregate output amounted to euro 267.8 million (prior year: euro 243.3 million). Earnings before interest, taxes, depreciation and amortisation (EBITDA) increased to euro 39.9 million (prior year: euro 35.4 million). Operating profit (EBIT) totalled euro 5.7 million (prior year: euro 6.2 million). The basic earnings per share amounted to euro -0.13 (prior year: euro 0.20). PNE AG is therefore in the upper range of the guidance for Group EBITDA of 30 to 40 million. The company published its report for the 2023 financial year today.

"We have delivered and we are moving forward”, explains Markus Lesser, CEO of PNE AG. "With the 'Scale up' strategy, we have initiated the further development of PNE AG into a Clean Energy Solutions Provider in 2017. The aim was to broaden the range of business segments, both in terms of technology and of geography. We have all achieved or, in some cases, significantly exceeded the ambitious targets we set ourselves for 2023. We are very proud of that. This is mainly because EBITDA also reached the upper range of the guidance. This was challenging in light of the special market environment."

Expansion of wind farms in operation or construction above target

The objective of PNE AG's corporate strategy is, among other things, to expand its own operating portfolio of wind farms and photovoltaic plants (PV plants). After the completion and acquisition of further wind farms, the nominal capacity of the wind farms operated by the Company in 2023 increased from 318.9 MW to 369.8 MW. Further wind farms (around 281.3 MW in total) are under construction in Germany and France and were taken over into our own operations. PNE AG thus significantly exceeded the objective of the 'Scale up' corporate strategy of having 500 MW in operation or under construction by the end of 2023. PNE is very optimistic that it will achieve further expansion to 1,500 MW/MWp under construction or operation by the end of 2027 in accordance with the 'Scale up 2.0' strategy extension.