Charwood Energy: 2024 Earnings Show Growth Amid Transformation

Charwood Energy reported a 23% revenue increase for 2024, reaching €5.0 million. This growth was driven by biomass solutions for sectors such as agriculture and manufacturing. Key projects included a contract for a sawmill heating facility and a gasification demonstrator in Brittany.

Despite the revenue boost, Charwood posted a net loss of €3.5 million due to rising personnel costs linked to strategic investments and expansion efforts. The company consolidated its financial structure, maintaining €5.1 million in shareholder equity and €0.7 million in cash.

Looking forward, Charwood has a €9 million order book set for 2025-2026. The company plans to strengthen its business model, focusing on third-party revenue growth and recurring revenues from proprietary projects. The shift aims to position Charwood as a leader in local decarbonized energy production in Europe.