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PNE AG
ISIN: DE000A0JBPG2
WKN: A0JBPG
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PNE AG · ISIN: DE000A0JBPG2 · EQS - Analysts (150 News)
Country: Germany · Primary market: Germany · EQS NID: 19833
21 May 2024 02:06PM

Buy


Original-Research: PNE AG - from First Berlin Equity Research GmbH

Classification of First Berlin Equity Research GmbH to PNE AG

Company Name: PNE AG
ISIN: DE000A0JBPG2

Reason for the research: Update
Recommendation: Buy
from: 21.05.2024
Target price: 21,00 Euro
Target price on sight of: 12 Monate
Last rating change: 02.02.2023: Hochstufung von Hinzufügen auf Kaufen Analyst: Dr. Karsten von Blumenthal

First Berlin Equity Research hat ein Research Update zu PNE AG (ISIN: DE000A0JBPG2) veröffentlicht. Analyst Dr. Karsten von Blumenthal bestätigt seine BUY-Empfehlung und bestätigt sein Kursziel von EUR 21,00.

Zusammenfassung:
PNE hat die Zahlen für das erste Quartal vorgelegt und eine Telefonkonferenz abgehalten. Der Umsatz von €31,4 Mio. und das EBITDA von €8,5 Mio. entsprachen den Vorjahreszahlen und lagen in etwa im Rahmen unserer Prognosen. Das Unternehmen bestätigte die Guidance für 2024 (EBITDA: €40 Mio. bis €50 Mio.), und wir sehen PNE auf gutem Weg, diese zu erreichen. Das Projektgeschäft brummt mit 276 MW im Bau (+36% J/J). Das Unternehmen hat die Kapazität seines eigenen Windparkportfolios auf 370 MW erhöht (+15% J/J). Sowohl das Segment Stromerzeugung als auch das Segment Service konnten ihren EBITDA-Beitrag deutlich steigern. Wir bestätigen unsere EBITDA-Prognosen, halten an unserem Kursziel von €21 fest und bestätigen unsere Kaufempfehlung.

First Berlin Equity Research has published a research update on PNE AG (ISIN: DE000A0JBPG2). Analyst Dr. Karsten von Blumenthal reiterated his BUY rating and maintained his EUR 21.00 price target.

PNE has reported Q1 figures and held a conference call. Sales of €31.4m and EBITDA of €8.5m matched prior year figures and were roughly in line with our forecasts. The company confirmed 2024 guidance (EBITDA: €40m - €50m), which we see PNE well on track to reach. With 276 MW under construction (+36% y/y), the project business is humming. The company increased the capacity of its own wind farm portfolio to 370 MW (+15%y/y). Both the Electricity Generation and the Service segments significantly increased their EBITDA contributions. We confirm our EBITDA forecasts, stick to our €21 price target and reiterate our Buy recommendation.

Bezüglich der Pflichtangaben gem. §85 Abs. 1 S. 1 WpHG und des Haftungsausschlusses siehe die vollständige Analyse.

You can download the research here:
http://www.more-ir.de/d/29833.pdf

Contact for questions
First Berlin Equity Research GmbH
Herr Gaurav Tiwari
Tel.: +49 (0)30 809 39 686
web: www.firstberlin.com
E-Mail: g.tiwari@firstberlin.com

-------------------transmitted by EQS Group AG.-------------------

The issuer is solely responsible for the content of this research. The result of this research does not constitute investment advice or an invitation to conclude certain stock exchange transactions.

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