Q2 2025 PNE AG Earnings Call Transcript
Key Points
- PNE AG (XTER:PNE3) received permits for onshore wind and photovoltaic projects with a total capacity of 489 megawatts in the first half of 2025.
- The company completed four projects in Germany with a total capacity of 65 megawatts, contributing to the expansion of their IPP portfolio.
- PNE AG's project pipeline grew to 19 gigawatts, with significant increases in core markets like Germany, France, and Poland.
- The company successfully sold project rights for Clermont in France and the wind farm Sundan Eindorf in Germany, with ongoing sales processes expected to close soon.
- PNE AG produced 366 gigawatt hours of green energy in the first half of 2025, saving 277 kilotons of CO2 emissions.
- Total output slightly decreased to €173.8 million, and EBITDA decreased to €4.7 million, mainly due to weak wind yields and no project sales in the first half.
- The German onshore wind market declined by 18% in the first half of 2025 compared to the previous year.
- The company's cash position fell to €65.6 million, and the equity ratio decreased to 12.9% as of June 30, 2025.
- The power generation segment's total output decreased to €36.3 million due to weaker wind yields.
- The service segment's EBITDA decreased to €0.9 million, affected by a new allocation formula for overhead costs.
Good morning everyone. Also, from my side. Thank you for joining us today in this conference call regarding the results of the first half of 2025.
My name is Heiko Wuttke, CEO of PNE AG and I am accompanied by Harald Wilbert, CFO. So let me first give you an overview of the presentation and the course of today's webcast on slide 3 in the presentation.
As usual, I will begin with a summary of the first half of 2025, followed by an update regarding the operating business then I will pass over to her for an update on the financial and after that I will conclude the presentation with the outlook for the remainder of 2025.
We will then open the line for questions, and as always, our slides can be found on our investor relations website. Having said this, I would now like to draw your attention to slide 5.
Ladies and gentlemen, we are pleased to announce that we have already received permits for onshore wind and photovoltaic projects with a total capacity of 489 megawatts in the first half of 2025. This is a remarkable figure
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