PNE’s first-half EBITDA fell by 46% as low wind availability in the first quarter reduced power generation from its own wind farms.
The first-half EBITDA fell to €4.7m from €8.7m the previous year.
The Cuxhaven-based developer said wind conditions in the second quarter were in line with expectations but could not offset the very weak start to the year, leading to lower-than-planned output and a hit to segment earnings.
Group total output was stable at €173.8m, while revenue rose to €73.9m from €60.6m. EBIT slipped to a loss of €14m from a €6.9m loss, with basic earnings per share at -€0.40 compared with -€0.26 in the prior year.
Chief executive Heiko Wuttke said the company remained confident for the second half, highlighting advanced disposal negotiations in Germany, Poland and France, including recent sales of a 14.4MW French wind project and the 34MW Sundern-Allendorf site.
The project pipeline edged up to 19GW, including 9.9GW of onshore wind, 2.5GW offshore and 6.6GWp of solar. In Germany, the onshore wind and solar pipeline totals 4.2GW, with a further 12.3GW in international markets.
As of 30 June, 14 wind farms totalling 282.2MW were under construction in Germany and France, and permits were granted for wind and solar projects totalling 489MW across the group.
PNE’s own generation portfolio grew to 490.9MW with the commissioning of four new wind farms, producing 366GWh in the period and avoiding around 277,000 tonnes of CO2e.
The service division continued to expand internationally, with operations management contracts covering 2877MW at the end of June.
PNE confirmed its 2025 EBITDA guidance of €70m–€110m, citing a strong project pipeline and advanced-stage developments.