Heiko Wuttke, CEO of PNE AG, explains: "Our success in Central Europe, particularly in Poland, was a key driver of our record results. Expansion in these markets contributed significantly to our growth."
Strong project pipeline in Central Europe
Despite global divestments, PNE was able to maintain its overall project pipeline at 18.9 GW. Notably, the significant expansion in the core markets of Germany, France, and Poland, which increased from 5.9 GW to 7.5 GW, underscores the strategic importance of Central Europe for growth.
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Focus on Poland and Central Europe
In Poland, PNE was able to generate sustainable growth through the approval of several PV projects. This development underscores the growing importance of the Polish market in particular, which has developed into an increasingly attractive market with significant opportunities for the PV industry in recent years. At the turn of the year, photovoltaic capacity in Poland exceeded 21 gigawatts.
Driving factors for Poland´s pv boom
The strong increase in photovoltaic installations in Poland is due to a confluence of favorable conditions. Government measures such as the "My Electricity" program provide important financial incentives for the installation of private systems, making solar power attractive for private homeowners. At the same time, the falling costs of PV technology have significantly improved affordability and made solar power an economical alternative to grid electricity for broader segments of the population and, above all, for businesses. Growing awareness of the environmental and economic benefits of solar power has contributed significantly to increased demand. Furthermore, the drive for energy independence, reducing dependence on imported fossil fuels, and alignment with the European Union's climate goals have accelerated the adoption of PV systems.
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Strategic realignment
PNE AG is adapting its strategy to further accelerate growth in Central Europe. This includes a balanced mix of own operation and project sales, with an increased focus on profitable core markets such as Poland. PNE plans to have an own operation portfolio of approximately 1.1 GW by 2027, with a long-term target of 1.5 GW. The company is targeting EBITDA of approximately €140 million by 2027, with a significant share expected to come from Central European activities. "Our strategy in Central Europe, especially in Poland, is paying off. We see enormous potential for further growth here and will continue to expand our presence in the region," explains Wuttke.
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Positive outlook for 2025
For the 2025 fiscal year, the PNE Group expects earnings before interest, taxes, depreciation, and amortization (EBITDA) of between €70 million and €110 million. This optimistic forecast is based, among other things, on the strong growth prospects in Central Europe, particularly in Poland. (mg)
