PNE AG lowers 2026 financial targets due to project delays

PNE AG has significantly lowered its financial guidance for 2026 due to delays in regulatory approvals and wind farm sales processes. The company now expects an EBITDA between 60 million and 75 million euros, a substantial decrease from the previous target of 90 million to 120 million euros. The normalized EBITDA forecast has also been reduced to a range of 65 million to 80 million euros, down from the original 110 million to 140 million euros.

Analysts from SMC-Research noted that while the reduction is driven by delayed sales that may shift into 2027, the decision to retain more wind farms in the company's own portfolio could be viewed positively. This strategy aims to increase the potential for high-margin electricity revenues in the medium to long term. Despite the lowered guidance and adjusted price targets, analysts maintain a speculative buy rating, citing the company's dynamic pipeline and financial capacity to hold assets.