Waga Energy Reports Strong 2023 Financial Results and Sets Course for 2025 Break-even

Waga Energy, a leader in the Renewable Natural Gas (RNG) sector, released its financial results for 2023, recording significant growth despite inflationary pressures. The company saw a 74% increase in revenue, reaching €33.3 million. The substantial growth has been attributed to the operational excellence of five new WAGABOX® units, which contributed to a 49% increase in RNG production.

Despite increasing operating expenses, Waga Energy managed an EBITDA of -€4.8 million and a consolidated net loss of €15.4 million. They have increased their EBITDA from -€3.2 million in 2022, demonstrating improved financial management. The firm remains focused on achieving EBITDA break-even by 2025, a goal supported by their revenue growth and financial strategies.

The company's strong commercial dynamics were underscored by a doubling of signed annual recurring revenues, which now stands at approximately €100 million. Additionally, Waga Energy successfully completed a €52 million capital increase in March 2024, enhancing their financial stability and supporting continued growth.

Mathieu Lefebvre, CEO of Waga Energy, emphasized the company's swift strides towards their 2026 goals, highlighting their expansion in North America and successful financing activities as key drivers of their progress. The company's firm footing in the RNG market is poised to support its ambitious targets for the coming years, including substantial revenue and capacity increases.