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 stood at €2.6 million negative, an improvement of €2.2 million compared with 2023, including €0.1 million negative in H2, confirming the path towards breakeven. Revenues increased significantly to €55.7 million, up 67%, driven by biomethane production revenues, which rose by 81%. To date, €170 million of recurring revenues have been contracted. Commercial momentum continues to accelerate, with ten contracts signed in 2024 and three already announced for 2025, while the commercial pipeline has reached 16.7 TWh/year of installed capacity, up 40% year-on-year, largely driven by the United States, where the Waga Energy solution is becoming a market benchmark.
Operationally, ten new units were commissioned in 2024 and 586 GWh of biomethane were injected into the gas grid, an increase of 72% year-on-year, avoiding 142,000 tonnes of CO₂ equivalent emissions. The Group’s financial position remains very strong, with €182 million of available liquidity as of 31 December 2024, including €68 million in cash and €114 million of available debt facilities, plus a further €24 million of debt financing already secured 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
