German wind energy company PNE reported mixed first-half results, with revenues climbing over 20% to €73.9 million but net losses deepening to €30.5 million, up from €20 million a year earlier. Weak wind conditions in early 2024 severely impacted earnings, dragging EBITDA down to €4.7 million—nearly half of the prior year’s figure. While operational performance improved in Q2, it couldn’t offset the sluggish start. The company highlighted progress in its project pipeline, commissioning four new wind farms and securing permits for 489 MW of capacity, bolstering its owned portfolio to 491 MW.
Turnaround Hinges on Project Sales
Management remains optimistic, banking on imminent deals to salvage annual targets. Recent sales in France and Germany totaling 48.4 MW mark the start of a broader divestment push, with additional transactions planned in Poland and Germany. PNE reaffirmed its full-year EBITDA guidance of €70–110 million, contingent on these sales. Investors appeared unfazed by the losses, with shares holding steady around €14.60. The coming months will test whether PNE’s project pipeline can outweigh nature’s unpredictability.
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