PNE AG Maintains 2024 Guidance Amidst Operational Challenges

PNE AG has reaffirmed its guidance for 2024 despite facing several headwinds. The company reported a mixed performance for the first three quarters of the year, with total output reaching €210.9 million, but a consolidated profit of €-49.1 million. These results are largely attributed to reduced wind supply, delayed wind farm commissioning, and unfavorable financial impacts under IFRS valuations.

Despite these challenges, the company’s project pipeline experienced a slight increase, now at 17,768 MW. This growth comes even after selling its US business, with the wind sector pipeline expanding. PNE AG remains confident in a strong fourth quarter, highlighted by project sales and expected milestone payments.

The service business also shows growth, with operations management now overseeing over 2,980 MW. PNE AG continues to expect a positive EBITDA between €40 to €50 million for 2024, reflecting their optimism for the year's end figures.