Waga Energy confirms its breakeven EBITDA target for 2025, thanks to a 2024 EBITDA of -2.6 m€ (of which -0.1 m€ in H2) and strong momentum in the United States.
Annual EBITDA stands at € -2.6 m, an improvement of € 2.2 m on 2023, of which € -0.1 m in H2, confirming the path towards breakeven. Revenues grew strongly to €55.7 m, up +67%, driven by Renewable Natural Gas (RNG) production revenues, which increased by 81%. To date, 170 m€ of recurring sales have been contracted. Commercial momentum is accelerating, with ten contracts signed by 2024, and three already announced for 2025, and a commercial pipeline of 16,8 TWh/year, up +40% year-on-year, largely driven by the United States, where the Waga Energy solution is establishing itself as a benchmark.
On the operational front, ten new units were commissioned in 2024 and 576 GWh of RNG were injected, up +72%, avoiding 142,000 tons of CO₂ equivalent emissions. The financial position remains very solid, with €182 m of liquidity available at December 31, 2024, including €68 m of cash and €114 m of callable debt, plus €24 m of debt already raised in 2025.
“2024 confirmed Waga Energy’s accelerated international expansion, marked by the launch of 10 new projects in North America and Europe. The Group is now firmly established in these two strategic markets, where portfolio opportunities are becoming a reality, and is well positioned to expand its footprint into other regions — particularly Latin America, following the recent opening of our subsidiary in Brazil. In an uncertain global economic environment, our world-unique technology and unmatched execution
capabilities provide decisive competitive advantages to drive further growth, especially in the United States. The improvement in our EBITDA, driven by increased revenues and cost control, reinforces our confidence in achieving breakeven in the course of 2025.”
Mathieu Lefebvre, Chairman & Chief Executive Officer of Waga Energy