PNE has more than doubled its earnings before interest, taxes, depreciation and amortisation (EBITDA) to nearly €19m in the first half of 2019.
In the company’s results for the first half of this year, EBITDA rose to €18.5m from €8.7m, compared with the first half of 2018.
Operating profit (EBIT) tripled to €12.9m in the first half of this year, from €4.1m in the first half of 2018.
In the first six months of this year PNE has begun operations or started construction of 404MW of wind capacity, which chief executive Markus Lesser (pictured) said is reflected in the EBIT.
“This is a very pleasing outcome, and the figures confirm the positive development of the group,” Lesser said.
“PNE is thus well on target for the year as a whole. Accordingly, we also confirm our goal of generating EBITDA in the range of euro €25-30m and EBIT in the range of €15-20m within the group in the entire year,” he added.
In the second quarter of 2019, PNE sold two projects, totalling 245MW, in Poland and Sweden and in the US the developer sold the rights to the ‘Burleigh’ in the second quarter.
PNE also completed projects in Sweden and France totalling 44.4MW.