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Waga Energy (WAGA) investor relations material
Waga Energy H2 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Achieved full-year EBITDA breakeven at €1.2m, a €3.8m improvement year-over-year, driven by a 23% increase in RNG production revenues and disciplined cost management.
Produced 674 GWh of RNG in 2025 (+17% yoy), avoiding 311,000 tons of CO₂ equivalent emissions under an updated methodology.
Commercial pipeline expanded to 238 projects (+12% yoy), representing 18.8 TWh potential annual capacity.
Financial highlights
Consolidated revenues reached €59.6m in 2025, up 7% year-over-year, with RNG revenue at €52.8m (+23% yoy).
Operating loss widened to €18.9m from €13.1m, and net loss (Group share) increased to €30.3m from €17.6m.
Capex rose 92% to €118.2m, and cash at year-end was €60.3m, down 12% from prior year.
Free cash flow after interest was -€116m, reflecting significant investment in portfolio expansion.
Outlook and guidance
Targets of ~€200m revenue, 4 TWh installed capacity, and ~660k tons CO₂eq avoided emissions for 2026 are expected to be achieved with an 18-month delay.
Over €400m signed annual recurring revenues by end-2026 depends on US portfolio deal signatures.
- Rapidly scaling biomethane production from landfill gas, targeting 4 TWh/year by 2026.WAGA
AGM 2024 presentation - Revenue up 87% year-over-year to €25.6m, EBITDA loss narrows, cash position strengthens.WAGA
H1 2024 - Efficient landfill methane capture and RNG production drive rapid growth and emissions reduction.WAGA
Company presentation - 67% revenue growth and 10 new RNG units underscore strong US-driven expansion in 2024.WAGA
H2 2024 TU - RNG revenue surged 23% year-over-year, with strong pipeline growth and expanded capacity.WAGA
H2 2025 TU - 67% revenue growth, EBITDA near breakeven, and strong U.S. expansion with robust liquidity.WAGA
H2 2024 - RNG revenue up 39% YoY, EBITDA near breakeven, and capex more than doubled to €59m.WAGA
H1 2025
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