PAUL Tech AG gi­ves a po­si­ti­ve out­look for 2025 af­ter the trans­for­ma­ti­on year 2024

Mannheim, July 21, 2025 – PAUL Tech AG today published its audited single-entity financial statements for the financial year 2024. Through targeted investments in the development of PAUL Net Zero, PAUL Tech has laid the foundation for its new, emission-free Heat-as-a-Service offering. As an integrated technology platform, PAUL Net Zero combines AI-controlled energy optimization, highly efficient heat pump systems and – where possible – photovoltaic systems. The aim is to make the heat supply climate-neutral and bring buildings up to energy efficiency class A. 

As sales of the previous PAUL Performance product were deliberately scaled back in favour of the transformation project, revenue fell slightly to EUR 31.93 million in 2024 (previous year: EUR 34.63 million). At the same time, expenses for processing existing PAUL Performance orders increased and substantial costs were incurred for the development and implementation of PAUL Net Zero. This led to a net loss for the year of EUR 40.13 million (previous year: EUR 13.69 million); as expected, equity remained slightly positive. 

Already in August 2024, PAUL Tech AG secured its first major order worth around EUR 220 million to equip around 11,000 residential units with PAUL Net Zero for at least 10 years. In March 2025, the successful closing of a financing line for the construction phase of the first 5,000 units with a family office and a major German insurance company was announced. In June 2025, PAUL Tech AG then agreed a EUR 120 million project financing facility with MEAG, the asset manager of the Munich Re Group, for the long-term financing of the roll-out, which will secure the operation of PAUL Net Zero facilities for around 30,000 residential units. PAUL Tech AG plans to supply the first 20,000 units with PAUL Net Zero by the end of 2025. 

Accordingly, PAUL Tech forecasts that in addition to the existing contracts of EUR 220 million signed in 2024, further contracts with a total volume of EUR 400 million will be concluded in 2025 – of which EUR 150 million have already been signed with legally binding effect and a further EUR 295 million are available as letters of intent (LOI). 

For 2025, PAUL Tech AG plans to generate revenues of up to EUR 80 million from the construction and subsequent management of the PAUL Net Zero systems. With this volume, EBITDA in the low double-digit million range and net income in the single-digit million range are expected. 

With the clear focus on PAUL Net Zero, a resilient order backlog and secured financing instruments for the scaling of PAUL Net Zero, PAUL Tech AG is confidently looking forward to a profitable year 2025 after last year's investments.  

Press contact

Klaus Schmidtke
Head of Corporate Affairs / Press spokesperson
Theodor-Heuss-Anlage 12 
68165 Mannheim 
Germany
Tel.:      +49 151 46680605
E-Mail:  klaus.schmidtke@paul.tech