(CercleFinance.com) – Waga Energy published the results for its financial year ending December 31, 2023, approved on April 26, 2024 by the Board of Directors.
The Group recorded growth in turnover (33.3 mE, +74% yoy) driven by the production of 336 GWh (+49% yoy) thanks to the start-up of 5 new WAGABOX® units and the maintenance of availability high (average of 96% on machines in operation for at least 12 months).
Thanks to revenue growth, 2023 EBITDA stands at -4.8 ME, compared to -3.1 ME in the first half of 2023 and -3.2 ME for the 2022 financial year, despite the increase in the cost of electricity in France and ‘one off’ operating expenses linked to the increase in commissioning. Net income, Group share, stands at -16 ME compared to -10.1 ME in December 2022.
To date, the Group operates 23 biomethane production units in France, Spain, Canada and the United States, representing an installed capacity of 915 GWh/year. 14 other 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.
Based on units in operation and projects under construction, recurring and contractualized annual turnover is around 100 ME, compared to 46 ME a year ago.
The group confirms its 2026 objectives. It is targeting a turnover of around 200 ME, a breakeven EBITDA in 2025, an installed capacity of ~4 TWh/year, a contractualized recurring annual turnover of more than 400 ME and a installed capacity to avoid the emission of 660,000 tonnes of CO2 eq per year.
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