(CercleFinance.com) – Waga Energy publishes the results of the first half of its 2022 financial year, ended June 30, 2022.
‘ Waga Energy is continuing its international development in a favorable context for biomethane, despite the deterioration of the economic environment in Europe and the brutal disturbances in the energy market, caused by the war in Ukraine and the unavailability of part of the French nuclear park’ indicates the direction.
Waga Energy achieved consolidated revenue of €7.0 m during the first half of 2022, up 35% compared to the same period of the 2021 financial year. This increase is mainly due to the increase in production of biomethane.
EBITDA was -€3.1 million, compared to -€0.2 million in the first half of 2021. ‘ This change is linked to the acceleration of recruitment and the structuring of the Group in internationally, in accordance with the announced strategic plan. As of June 30, 2022, Waga Energy employed 116 people compared to 69 a year earlier, representing a growth in the workforce of 68%.
Waga Energy recorded consolidated net income of -€5.1 million in the first half of 2022, compared to -€2.3 million in the first half of 2021. Current operating income amounted to -€4.4 million. euros against -€1.2 million at June 30, 2021.
‘This change is linked to the Group’s international structuring expenses and the increase in the number of units in operation, implying an increase in depreciation and provisions’, specifies the company.
Management maintains its 2026 objectives: 100 WAGABOX® units in operation, 4 TWh of biomethane injected and a turnover of 200 ME.