Financials PNE AG

Equities

Market Closed - Xetra Other stock markets 11:35:15 2024-04-26 EDT			5-day change	1st Jan Change
13.4 ^EUR	+1.21%		+0.75%	-3.18%

04-10	Associations call on traffic light coalition to pass solar package	DP
04-10	German Wind Farm Developer PNE Sells Photovoltaic Project in South Africa	MT

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Capitalization ¹	303.2	610.7	645	1,630	1,056	1,023	-	-
Enterprise Value (EV) ¹	432.2	871.2	1,014	2,081	1,056	1,746	1,890	1,982
P/E ratio	402 x	400 x	25.6 x	107 x	-106 x	-98 x	-149 x	1,340 x
Yield	1%	0.5%	0.47%	0.19%	-	0.4%	0.45%	0.45%
Capitalization / Revenue	2.28 x	5.57 x	5.48 x	12.9 x	8.69 x	6.26 x	5.32 x	4.23 x
EV / Revenue	3.25 x	7.94 x	8.61 x	16.5 x	8.69 x	10.7 x	9.82 x	8.19 x
EV / EBITDA	13.7 x	33.1 x	31 x	58.8 x	26.5 x	35.3 x	28.1 x	20.5 x
EV / FCF	-10.2 x	-10.5 x	-11.4 x	-19.9 x	-	-11.7 x	-8.31 x	-10.6 x
FCF Yield	-9.85%	-9.53%	-8.78%	-5.03%	-	-8.55%	-12%	-9.46%
Price to Book	1.29 x	2.94 x	2.81 x	6.86 x	-	4.53 x	4.88 x	5.07 x
Nbr of stocks (in thousands)	75,420	76,337	76,337	76,337	76,337	76,337	-	-
Reference price ²	4.020	8.000	8.450	21.35	13.84	13.40	13.40	13.40
Announcement Date	20-03-31	21-03-31	22-03-30	23-03-29	24-03-27	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net sales ¹	132.8	109.7	117.7	126.2	121.5	163.4	192.4	242
EBITDA ¹	31.64	26.3	32.7	35.4	39.9	49.52	67.19	96.53
EBIT ¹	18.96	8.17	9.265	6.173	5.738	8.096	18.52	36.27
Operating Margin	14.28%	7.45%	7.87%	4.89%	4.72%	4.95%	9.62%	14.99%
Earnings before Tax (EBT) ¹	7.312	-2.708	3.028	23.86	-8.599	-13.8	-8.939	3.956
Net income ¹	0.692	1.621	25.13	14.9	-9.554	-10.67	-7.117	0.614
Net margin	0.52%	1.48%	21.34%	11.81%	-7.86%	-6.53%	-3.7%	0.25%
EPS ²	0.0100	0.0200	0.3300	0.2000	-0.1300	-0.1367	-0.0900	0.0100
Free Cash Flow ¹	-42.56	-83.03	-89.05	-104.6	-	-149.2	-227.3	-187.5
FCF margin	-32.05%	-75.7%	-75.64%	-82.94%	-	-91.32%	-118.12%	-77.46%
FCF Conversion (EBITDA)	-	-	-	-	-	-	-	-
FCF Conversion (Net income)	-	-	-	-	-	-	-	-
Dividend per Share ²	0.0400	0.0400	0.0400	0.0400	-	0.0533	0.0600	0.0600
Announcement Date	20-03-31	21-03-31	22-03-30	23-03-29	24-03-27	-	-	-

¹EUR in Million²EUR

Estimates

Fiscal Period: December	2019	2020	2021	2022	2023	2024	2025	2026
Net Debt ¹	129	261	369	451	-	723	867	959
Net Cash position ¹	-	-	-	-	-	-	-	-
Leverage (Debt/EBITDA)	4.076 x	9.905 x	11.28 x	12.75 x	-	14.59 x	12.91 x	9.933 x
Free Cash Flow ¹	-42.6	-83	-89.1	-105	-	-149	-227	-187
ROE (net income / shareholders' equity)	0.3%	0.76%	11.5%	6.38%	-	-5.25%	-4.75%	-3.25%
ROA (Net income/ Total Assets)	0.14%	-	3.37%	1.71%	-	-	-	-
Assets ¹	509.9	-	745.4	873.7	-	-	-	-
Book Value Per Share ²	3.120	2.720	3.000	3.110	-	2.960	2.750	2.650
Cash Flow per Share ²	0.4700	-0.9000	0.3100	-0.1200	-	0.4600	0.6500	0.3900
Capex ¹	78	14.5	113	95.6	-	189	282	244
Capex / Sales	58.71%	13.25%	95.84%	75.8%	-	115.35%	146.31%	101%
Announcement Date	20-03-31	21-03-31	22-03-30	23-03-29	24-03-27	-	-	-

¹EUR in Million²EUR

Estimates

Trading Rating

Investor Rating

ESG Refinitiv

C-

Sell

Buy

Mean consensus

BUY

Number of Analysts

Last Close Price

13.4 EUR

Average target price

20.13 EUR

Spread / Average Target

+50.25%

	1st Jan change	Capi.
PNE AG	-3.18%	1.09B
VESTAS WIND SYSTEMS A/S	-14.35%	26.45B
SUZLON ENERGY LIMITED	+9.03%	6.8B
SANY RENEWABLE ENERGY CO.,LTD.	-1.50%	4.68B
GOLDWIND SCIENCE AND TECHNOLOGY CO., LTD.	-7.12%	3.85B
INOX WIND LIMITED	+28.18%	2.5B
TITAN WIND ENERGY (SUZHOU) CO.,LTD	-18.97%	2.33B
DAJIN HEAVY INDUSTRY CO.,LTD.	-27.69%	1.69B
CENTURY WIND POWER CO., LTD.	+46.53%	1.59B
CS WIND CORPORATION	-28.77%	1.5B