Waga Energy has published the results for its financial year ending December 31, 2023, approved by the Board of Directors on April 26, 2024.

The Group recorded growth in sales (33.3 mE, +74% yoy) driven by production of 336 GWh (+49% yoy) thanks to the start-up of 5 new WAGABOX® units and the maintenance of high availability (average of 96% on machines in operation for at least 12 months).

Thanks to revenue growth, EBITDA for 2023 came in at -4.8 ME, compared with -3.1 ME for H1 2023 and -3.2 ME for FY 2022, despite higher electricity costs in France and "one-off" operating expenses linked to increased commissioning. Net income (Group share) is -16 ME compared with -10.1 ME in December 2022.

To date, the Group operates 23 biomethane production units in France, Spain, Canada and the United States, representing installed capacity of 915 GWh/year. A further 14 units are under construction in France, Canada and the United States. Once operational, these 37 units will represent an installed capacity of 2.2 TWh/year.

On the basis of units in operation and projects under construction, annual recurring and contracted sales are in the region of €100m, compared with €46m a year ago.

The Group confirms its 2026 targets. It is targeting sales of around 200 ME, EBITDA breakeven during 2025, installed capacity of ~4 TWh/year, contracted recurring annual sales in excess of 400 ME, and installed capacity enabling the emission of 660,000 tonnes of eqCO2 to be avoided per year.

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