PNE streamlines project pipeline after a successful year in terms of operations

• Value adjustment of the project pipeline
• Adjusted consolidated EBITDA between EUR 70 million and EUR 80 million

Cuxhaven, 14 January 2026 – As part of its preparations for the annual financial statements, the PNE Group conducted a strategic review to evaluate various projects and markets of PNE AG. This resulted in a streamlining of the project pipeline.

The resulting value adjustments were necessary due to significantly changed market conditions, particularly in the international markets of Canada, Spain and Romania. Adjusted for the value adjustments now expected, consolidated EBITDA in 2025 would be between EUR 70 million and EUR 80 million, which is within the previous guidance. The value adjustments have no impact on the liquidity of PNE AG. From the perspective of the Management Board, the planned value adjustments take into account all identifiable risks for the valuation of the project pipeline.

"Despite these value adjustments, PNE AG has had a very successful financial year 2025 in terms of operations – as shown by the adjusted result“, , says Heiko Wuttke, CEO of PNE AG. „We were profitable in our core business. We were able to conclude numerous project and project rights sales in a challenging market environment and also significantly expand our own generation portfolio. The value adjustments have resulted in an adjustment of our project pipeline, which improves our risk profile, yet we are still achieving one of PNE AG's best results in history."

In the 2025 financial year, PNE AG sold projects with a total output of around 428 MW in Germany and international markets. The portfolio of wind farms under own operation also increased significantly from around 429 MW at the end of 2024 to around 497 MW at the end of 2025. In addition, approvals for wind energy and PV projects with a total capacity of 510 MW were granted in the first nine months of 2025 alone.

“Streamlining the pipeline is an important part of our strategic focus on profitable markets and projects. We are thus consistently pursuing our strategy of exiting the US, UK, Swedish and Panamanian markets. Turkey and Canada will follow,“ adds Heiko Wuttke.

PNE will publish the final financial figures for 2025 and the audited consolidated financial statements on March 26, 2026.