Result for the quarter: PNE AG has good start to the new year

EQS-News: PNE AG / Key word(s): Quarter Results
Result for the quarter: PNE AG has good start to the new year

08.05.2024 / 07:56 CET/CEST
The issuer is solely responsible for the content of this announcement.

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Corporate News

Result for the quarter: PNE AG has good start to the new year

* Good result in the first three months

  * Number of projects in construction and construction preparation at a
    very high level

* Project pipeline with 19.8 gigawatts continues on record course

Cuxhaven, 8 May, 2024 - PNE AG started the 2024 financial year well. The
large number of projects in construction and construction preparation pave
the way for a successful full year. The project pipeline once again reached
a record level.

In the first three months of 2024, the Group recorded total aggregate output
of euro 57.0 million (prior year: euro 45.3 million), revenues of euro 31.4
million (prior year: euro 32.2 million), earnings before interest, taxes,
depreciation and amortisation (EBITDA) of euro 8.5 million (prior year: euro
8.6 million) and undiluted earnings per share of euro -0.06 (prior year:
euro -0.08).

In Germany and France, ten wind farms with a total nominal output of 276 MW
(prior year: nine wind farms with 201 MW) were under construction at the end
of the first quarter of 2024. A further 73 MW were awarded approval in the
tender or are in the tender procedure. Moreover, wind farms and photovoltaic
plants with an output of 826 MW/MWp are also under approval in Germany and
France alone.

However, recent months have continued to be marked by late transport permits
and capacity bottlenecks at suppliers and network operators. In addition,
weather-related construction difficulties with regard to wind conditions and
wet soils were encountered. This delayed the construction and commissioning
of new wind farms.

'We are very satisfied with the results of the first three months of this
year,' says Markus Lesser, CEO of PNE AG. 'We are looking forward to a very
successful full year with the large number of projects currently under
construction, in construction preparation and in the approval process. The
pace of project implementation is increasing. These are the best
prerequisites for achieving the goal of our 'Scale up 2.0 strategy, which
consists in having our own wind farms and photovoltaic plants with an output
of 1,500 MW/MWp in operation or under construction by the end of 2027.'

Wind and PV project pipeline continues to grow

Overall, the nominal capacity of the pipeline for wind and photovoltaic
projects increased noticeably once again from 13,814 megawatts (MW) in the
same period last year to 19,805 MW. Onshore wind energy projects accounted
for 9,794 MW. The pipeline of offshore wind energy projects now comprises
2,500 MW. There was also major progress in the first quarter of this year in
the development of photovoltaic projects. In this area, our pipeline
increased from 5,400 MWp to 7,511 MWp. This means that the project pipeline
once again reached a record level. In Germany alone, the PNE Group worked on
wind farms with a nominal capacity of 2,600 MW (prior year: 2,349 MW).

Expansion of internally operated portfolio

The wind farm portfolio operated by PNE had a capacity of 370 MW at the end
of the first quarter (previous year's period: 321 MW). The wind farms of the
PNE Group produced 247 GWh of clean electricity in the first three months of
this year (in the same period last year: 213 GWh), saving the environment
186,000 tons of CO2 emissions. Wind supply has been better in the first
three months of this year than in the previous year's period.

With their electricity production, the wind farms of the PNE Group make an
important contribution to climate protection and independent energy
security. Generating electricity in PNE's own wind farms and PV plants is an
important pillar of our 'Scale up 2.0' corporate strategy.

Services business continues to grow

The expansion of the services business contributes to steady earnings and
also creates the basis for further business. In the first quarter of 2024,
the PNE Group was able to further expand the international business of
operations management as well as technical inspections and tests. The order
volume managed in operations management grew to over 2,900 MW (prior year
period: 2,400 MW). It now consists of more than 1,000 wind turbines from
various manufacturers.

Quarterly results and prospects are the basis of a successful year

'We confirm our guidance for the 2024 fiscal year with positive EBITDA for
the Group in the range of euro 40 to 50 million', says Markus Lesser. 'We
are on a very good path towards achieving this goal.'

About the PNE Group

The internationally operating, listed PNE Group is included in the SDAX as
well as the TecDAX. For more than 25 years, it has been one of the most
experienced project developers in the field of onshore and offshore wind
farms. The focus is on the development of wind power and photovoltaic
projects worldwide as well as on electricity generation with its own wind
farms. Its portfolio covers all project planning phases, from site
investigation and the implementation of the approval procedures, through
financing and construction, to operation and repowering. As a clean energy
solutions provider, the PNE Group also offers services for the entire life
cycle of wind farms and photovoltaic plants. The PNE Group is a sought-after
partner to industry for solutions for the refinement of electricity via
power-to-X technologies.

Contact:

PNE AG
Alexander Lennemann
Head of Corporate Communications
Tel: +49 47 21 - 7 18 - 453
E-mail: alexander.lennemann@pne-ag.com

PNE AG
Head of Investor Relations
Christopher Rodler
Tel: +49 40 - 879 33 114
Fax: +49 47 21 - 7 18 - 373
E-mail: Christopher.Rodler@pne-ag.com


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08.05.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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   Language:       English
   Company:        PNE AG
                   Peter-Henlein-Straße 2-4
                   27472 Cuxhaven
                   Germany
   Phone:          04721 / 718 - 06
   Fax:            04721 / 718 - 200
   E-mail:         info@pne-ag.com
   Internet:       http://www.pne-ag.com
   ISIN:           DE000A0JBPG2, DE000A2LQ3M9, , DE000A12UMG0,
   WKN:            A0JBPG, A2LQ3M, , A12UMG,
   Indices:        SDAX, TecDAX
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Dusseldorf,
                   Hamburg, Munich, Stuttgart, Tradegate Exchange
   EQS News ID:    1898189

End of News EQS News Service
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1898189 08.05.2024 CET/CEST