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1. Company Snapshot

1.a. Company Description

PNE AG engages in the development, planning, realization, financing, operation, and sales of wind and photovoltaic (PV) farms and transformer stations in Germany and internationally.The company develops, constructs, and sells onshore and offshore wind farms under the PNE and WKN brand names, as well as PVs; provides technical and commercial operations management services for wind farms, PV plants, and transformer stations; and generates electricity from wind and biomass power plant.It is also involved in the development photovoltaics and hybrid solutions.


The company was formerly known as PNE WIND AG and changed its name to PNE AG in June 2018.The company was founded in 1995 and is headquartered in Cuxhaven, Germany.

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1.b. Last Insights on PNE3

PNE AG faces challenges in a mixed European economic landscape. Despite a 25% increase in total output and significant EBITDA growth, the company navigates a complex environment with cooling sentiment on artificial intelligence. Strategic efficiency programs are underway to address market challenges. With the pan-European STOXX Europe 600 Index experiencing fluctuations, investors are monitoring opportunities for undervalued stocks with strong fundamentals. Recent earnings highlight growth, but tempered by cautious market sentiment. (Source: Q3 2025 Earnings Call Highlights and STOXX Europe 600 Index updates)

1.c. Company Highlights

2. Transcript Summary

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3. NewsRoom

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PNE AG (XTER:PNE3) Q3 2025 Earnings Call Highlights: Strong Financial Growth Amid Market Challenges

Nov -20

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November 2025's European Stocks That May Be Trading Below Estimated Value

Nov -17

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PNE Second Quarter 2025 Earnings: €0.26 loss per share (vs €0.20 loss in 2Q 2024)

Aug -16

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PNE's (ETR:PNE3) investors will be pleased with their stellar 195% return over the last five years

Aug -05

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PNE AG (ETR:PNE3) is largely controlled by institutional shareholders who own 62% of the company

May -19

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PNE Full Year 2024 Earnings: EPS Misses Expectations

Mar -30

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Brokers Are Upgrading Their Views On PNE AG (ETR:PNE3) With These New Forecasts

Dec -06

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PNE Third Quarter 2024 Earnings: €0.38 loss per share (vs €0.14 loss in 3Q 2023)

Nov -09

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4. Business Breakdown

4.a. Revenues by Country

4.b. Revenues by Segment

5. Expected revenues mid-term growth (10.03%)

6. Segments

Power Generation

Expected Growth: 9.95%

PNE AG's 9.95% power generation growth is driven by increasing demand for renewable energy, favorable government policies and incentives, expansion into new markets, and strategic acquisitions. Additionally, advancements in wind turbine technology and improved operational efficiency have contributed to the growth.

Project Development

Expected Growth: 9.9%

PNE AG's 9.9% project development growth is driven by increasing demand for renewable energy, strategic acquisitions, and expansion into new markets. Additionally, the company's focus on wind energy, a growing segment, and its expertise in project planning and execution contribute to its growth. Furthermore, government incentives and policies supporting the transition to clean energy also fuel PNE AG's growth.

Services

Expected Growth: 10.5%

PNE AG's 10.5% growth in services is driven by increasing demand for renewable energy solutions, expansion into new markets, and strategic partnerships. Additionally, the company's focus on digitalization and operational efficiency has led to cost savings and improved profitability. Furthermore, government incentives and policies supporting the energy transition have created a favorable business environment, contributing to the segment's growth.

7. Detailed Products

Wind Farms

PNE AG develops, plans, and operates onshore and offshore wind farms, generating clean and sustainable energy.

Solar Parks

PNE AG designs, builds, and operates solar parks, harnessing solar energy to power homes and businesses.

Bioenergy

PNE AG develops and operates bioenergy projects, converting organic waste into energy and heat.

Energy Storage

PNE AG offers energy storage solutions, enabling efficient and reliable energy supply and grid stability.

Grid and Infrastructure

PNE AG plans, builds, and operates grid and infrastructure projects, ensuring reliable energy transmission and distribution.

Consulting and Engineering

PNE AG provides consulting and engineering services for renewable energy projects, from planning to operation.

8. PNE AG's Porter Forces

Forces Ranking

Threat Of Substitutes

The threat of substitutes for PNE AG is medium, as there are alternative renewable energy sources available, but the company's focus on wind energy provides a competitive advantage.

Bargaining Power Of Customers

The bargaining power of customers for PNE AG is low, as the company's customers are primarily large corporations and governments, which have limited negotiating power.

Bargaining Power Of Suppliers

The bargaining power of suppliers for PNE AG is medium, as the company relies on a few large suppliers for wind turbines and other equipment, but has some flexibility to negotiate prices.

Threat Of New Entrants

The threat of new entrants for PNE AG is high, as the renewable energy industry is growing rapidly and new companies are entering the market, increasing competition.

Intensity Of Rivalry

The intensity of rivalry for PNE AG is high, as the company operates in a highly competitive industry with many established players, and must continually innovate and improve to maintain market share.

9. SWOT Analysis

Strength

Weaknesses

Opportunities

Threats

10. Capital Structure

10.a. Balance Sheet

10.b. Weighted Average Cost of capital

Value
Debt Weight 74.29%
Debt Cost 3.95%
Equity Weight 25.71%
Equity Cost 5.99%
WACC 4.47%
Leverage 288.96%

11. Quality Control: PNE AG passed 2 out of 9 key points

12.a Historical Valuation

12.b Price/Earnings Ratio

12.c Margin Valuation

12.d Peers Valuation

Peers Group Analysis

Stock-Card
Cloudberry Clean Energy

A-Score: 5.0/10

Value: 5.8

Growth: 9.9

Quality: 2.5

Yield: 0.0

Momentum: 6.5

Volatility: 5.3

1-Year Total Return ->

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Ecoener

A-Score: 4.6/10

Value: 4.1

Growth: 5.2

Quality: 3.4

Yield: 1.2

Momentum: 7.0

Volatility: 6.7

1-Year Total Return ->

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Solaria Energía y Medio Ambiente

A-Score: 4.5/10

Value: 4.5

Growth: 8.9

Quality: 6.7

Yield: 0.0

Momentum: 5.0

Volatility: 1.7

1-Year Total Return ->

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Stock-Card
PNE

A-Score: 4.1/10

Value: 4.6

Growth: 2.3

Quality: 3.1

Yield: 0.6

Momentum: 6.5

Volatility: 7.7

1-Year Total Return ->

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Enlight Renewable Energy

A-Score: 3.7/10

Value: 2.0

Growth: 3.9

Quality: 4.3

Yield: 0.0

Momentum: 10.0

Volatility: 1.7

1-Year Total Return ->

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Stock-Card
OX2

A-Score: 2.9/10

Value: 4.6

Growth: 4.2

Quality: 2.8

Yield: 0.0

Momentum: 5.0

Volatility: 0.7

1-Year Total Return ->

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Peers Metrics

12.e Scoring Insights

12.f DCF BETA

Parameters

Short Term Growth

Short term Time

Long-Term Growth

WACC

Target Price

10.2$

Current Price

10.2$

Potential

-0.00%

Expected Cash-Flows