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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
PNE
PNE (PNE3) investor relations material
PNE Q3 2026 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2026 earnings summary12 Nov, 2026
Executive summary
9M 2026 revenue and normalized EBITDA rose, supported by project sales and stronger power generation; FY guidance was cut as project sales and permits were delayed and some wind farms were retained.
Project sales totaled 361 MW, with 965 MW of wind and PV permits secured; the onshore wind and PV pipelines stood at 14.3 GW and 6.9 GWp.
Financial highlights
9M revenue increased 6% to €150.7m and gross profit rose 21% to €134.8m; total output was €194.2m versus €263.7m.
Reported EBITDA was €43.9m, including €1.5m of one-time effects; normalized EBITDA was €45.4m versus €26.6m in 9M 2025.
EBIT improved to €15.0m from a comparative loss of €2.9m; net loss narrowed and basic EPS improved to -€0.34 from -€0.50.
Financial result was -€28.4m versus -€22.5m, including a €5.6m non-cash IFRS 9 fair-value effect on a Financial PPA.
Outlook and guidance
FY 2026 normalized EBITDA guidance was cut to €65m–€80m from €110m–€140m; reported EBITDA guidance is €60m–€75m.
Slower sales processes and permitting shifted projects into 2027; further sales are targeted in Germany, Poland and France, with delayed transactions expected to progress next year.
Two or three wind projects are planned to enter construction in Q4, with more projects expected to be constructed in 2027.
Focus & Deliver remains on track; the strategy emphasizes system- and grid-compatible projects, including BESS.
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Latest events from PNE
- Strong Q1 2026 results, robust pipeline, and focus on core markets and storage integration.PNE3
Investor presentation - Revenue and EBITDA surged, pipeline stable, 2026 guidance confirmed amid regulatory headwinds.PNE3Q2 2026
- Q1 2026 delivered strong output and EBITDA growth, with guidance for 2026 reaffirmed.PNE3Q1 2026
- Record output and strong project sales drive 2025 results; 2026 targets higher EBITDA.PNE3Q4 2025
- Total output and EBITDA surged, guidance confirmed, with further sales and Panama exit expected.PNE3Q3 2025
- Strong pipeline and permits offset weak wind yields and costs; H2 outlook remains positive.PNE3Q2 2025
- Record output, but earnings lag due to delays; strong Q4 and growth strategy reaffirmed.PNE3Q3 2024
- Earnings fell on weak wind, but project pipeline and 2025 EBITDA guidance remain strong.PNE3Q1 2025
- Record output and EBITDA, with a sharper focus on profitability and core markets.PNE3Q4 2024
Next PNE earnings date
Q4 202624 Mar, 2027
PNE
Next PNE earnings date
Q4 202624 Mar, 2027
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Frequently asked questions
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 operates through three business segments: Wind Power Plants; Photovoltaic Power Plants; and Services. It offers various renewable energy solutions, including the financing of the future-oriented technology assets. The company was founded in 1995 and is headquartered in Cuxhaven, Germany.