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Business Summary: PNE AG, formerly PNE Wind AG, is a Germany-based renewable energy company. The Company develops onshore and offshore wind farms. It operates through two segments. The Electricity Generation segment covers the generation of electricity from the operation of own wind farms, and the Projecting of Wind Power Turbines covers the activities from initial site exploration, approval procedure, financing, turnkey construction, operation and repowering, as well as related services. The Company operates under the brands PNE and WKN and is active through subsidiaries and joint ventures in Europe, South Africa, the United States and Canada. The Company's offshore wind farms are mainly located in the North Sea and onshore wind farms are in numerous countries in Europe, as well as in South Africa, the United States and Canada. In addition to wind energy, PNE AG pursues solutions in the areas of photovoltaic energy, electricity storage and power-to-gas technologies with a focus on hydrogen.
Financial Summary: BRIEF: For the six months ended 30 June 2024, PNE AG revenues increased 6% to EUR60.6M. Net loss applicable to common stockholders increased 44% to EUR20.2M. Revenues reflect Services segment increase of 33% to EUR12.3M, Electricity Generation segment increase of 5% to EUR37.9M. Higher net loss reflects Project development segment loss totaling EUR16.2M vs. income of EUR8.3M.