PNE AG has reported a 13% rise in operating profit (EBIT) in 2021.
The German developer reported EBIT of €9.3m last year, compared to €8.2m in 2020.
EBITDA of €32.7m was achieved in 2021, compared to €26.3m in the previous year.
The basic earnings per share amount to €0.33 (prior year: €0.02), meaning that the guidance for Group EBITDA of €24m to €32m was slightly exceeded.
The board reported that PNE Group was able to made excellent progress in project development despite some delays due to the COVID-19 pandemic.
The company obtained further approvals, was awarded contracts in tenders, commissioned wind farms and started the construction of further wind farms, it said.
In fiscal 2021, the PNE Group completed, sold or started construction of wind farm and photovoltaic projects with around 1076.1MW/MWp.
This figure was thus more than double that of the previous year, and an unprecedented level in the Company’s history was achieved, the directors said. PNE AG chief executive Markus Lesser (pictured) said: “2021 was an exceptionally successful year for PNE AG, both financially and operationally.
“We increased the output, i.e. wind energy and photovoltaic projects sold, completed or under construction, to over 1000MW/MWp and we sold more projects than ever before, including the first photovoltaic projects, at 773MW/MWp.
“In addition, we continued to invest significantly in our own portfolio of wind farms and expanded it considerably.
“And despite the sales and project realisations, our project pipeline was again significantly increased by nearly 1000MW/MWp.”Due the completion and acquisition of further wind farms, the nominal capacity of the wind farms operated by the Company increased from 134.8MW to 233.2MW.
Further wind farms intended for PNE’s own portfolio are under construction and in the approval process.
The portfolio of projects completed or under construction in the Company’s own portfolio, primarily in Germany, will be expanded to up to 500MW by the end of 2023, the board said. At the end of 2021, the companies of the PNE Group were working on onshore wind farm projects with more than 5706MW of nominal output to be installed, compared to 5405MW in 2020.
This means that the project pipeline, i.e. the portfolio of projects under development, was expanded further, the directors added.
PNE also has projects with around 751MW of planned nominal capacity currently in the approval phase in Germany and France.
This means that the high volume of projects in the final phase of project development has increased compared with the previous year, the directors said. PNE’s PNE pipeline has more than doubled in one year to 1210MWp at the end of 2021.