3 European Penny Stocks With Market Caps Under €30M To Consider

The European market recently experienced a downturn, with the pan-European STOXX Europe 600 Index falling by 1.10%, as political turmoil and international trade tensions weighed on investor sentiment. Amid these broader economic challenges, penny stocks—though often viewed as a niche investment area—can still present intriguing opportunities for growth, particularly when they are backed by strong financial health. In this article, we will explore several European penny stocks that combine affordability with potential long-term value.

Top 10 Penny Stocks In Europe

Click here to see the full list of 279 stocks from our European Penny Stocks screener.

We'll examine a selection from our screener results.

Windon Energy Group (DB:NW1)

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Windon Energy Group AB operates in the energy sector and has a market cap of approximately €20.79 million.

Operations: Windon Energy Group AB has not reported any specific revenue segments.

Market Cap: €20.79M

Windon Energy Group AB, with a market cap of €20.79 million, operates in the energy sector and has shown some revenue growth despite its unprofitability. Recent earnings for the second quarter of 2025 reported sales of SEK 9.2 million, marking an increase from SEK 7.82 million a year earlier; however, the company continues to incur net losses (SEK 2.5 million). The stock remains highly volatile with weekly volatility decreasing yet still higher than most German stocks. Windon is debt-free and has sufficient short-term assets to cover liabilities but lacks significant revenue streams and profitability indicators common among penny stocks.

• Click here to discover the nuances of Windon Energy Group with our detailed analytical financial health report.
• Learn about Windon Energy Group's historical performance here.

Avenir Telecom (ENXTPA:AVT)

Simply Wall St Financial Health Rating: ★★★★★★

Overview: Avenir Telecom S.A. designs and distributes mobile phones and mobility accessories across various global regions, with a market capitalization of €3.18 million.

Operations: The company's revenue is primarily generated from the Europe Zone, Middle East, and Africa with €11.01 million, while the Americas and Asia Oceania Zones contribute marginally with €0.001 million and €0.01 million respectively.

Market Cap: €3.18M

Avenir Telecom S.A., with a market cap of €3.18 million, primarily generates revenue from the Europe Zone, Middle East, and Africa (€11.01 million). Despite being debt-free and having short-term assets (€20.6M) exceeding both short-term (€5.2M) and long-term liabilities (€14.2M), the company is currently unprofitable with a negative return on equity (-245.78%). Earnings have declined over the past five years by 25.1% annually, while the stock exhibits high volatility compared to most French stocks. The board is experienced with an average tenure of 7.6 years, providing some stability amidst financial challenges.

• Click here and access our complete financial health analysis report to understand the dynamics of Avenir Telecom.
• Explore historical data to track Avenir Telecom's performance over time in our past results report.

PCI Biotech Holding (OB:PCIB)

Simply Wall St Financial Health Rating: ★★★★☆☆

Overview: PCI Biotech Holding ASA is a biopharmaceutical company that develops technologies and novel therapies using its photochemical technology platform, with a market cap of NOK14.63 million.

Operations: The company's revenue segment is derived entirely from Research and Development, generating NOK4.69 million.

Market Cap: NOK14.63M

PCI Biotech Holding ASA, with a market cap of NOK14.63 million, is pre-revenue and unprofitable, reporting a net loss of NOK11.52 million for H1 2025. Despite this, the company has no debt and its short-term assets (NOK17.7M) exceed liabilities (NOK6M), indicating some financial stability in the short term. However, it faces challenges with less than a year of cash runway and increased share price volatility over the past three months. The board's average tenure of 6.4 years suggests experienced governance amid these financial hurdles.

• Get an in-depth perspective on PCI Biotech Holding's performance by reading our balance sheet health report here.
• Gain insights into PCI Biotech Holding's past trends and performance with our report on the company's historical track record.

Where To Now?

• Click through to start exploring the rest of the 276 European Penny Stocks now.
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This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.

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