H2APEX publishes figures for the 2024 financial year

H2APEX publishes figures for the 2024 financial year

• Revenue doubled year-on-year to EUR 29.6 million in the 2024 financial year
• Forecast 2025: Temporary decline in sales expected due to increased focus on own projects

 Rostock, Grevenmacher (Grand Duchy of Luxembourg), 12. May 2025 - H2APEX Group SCA (ISIN: LU0472835155), a leading operator and developer of green hydrogen plants for the decarbonization of industry, infrastructure, and mobility, today published its annual report for the 2024 financial year. Revenue doubled year-on-year to EUR 29.6 million in the 2024 financial year (2023: EUR 15.3 million), slightly exceeding the forecast (EUR 28 million).

Due to high investments in expertise and personnel as part of the growth strategy, adjusted EBITDA amounted to EUR -16.3 million in the 2024 financial year, compared to EUR -16.1 million in the previous year. The net result for the year amounted to EUR -27.8 million, compared to EUR -24.6 million in the 2023 financial year

Peter Rößner, CEO of H2APEX: “The 2024 financial year was satisfactory overall for us. We doubled our revenue within a year and reduced our operating losses. In 2025, we will according to plan and driven by current market conditions continue to expand our own projects to sustainably increase the company's value. We will also pursue further market opportunities through EPC projects. To finance our IPCEI-funded project and other projects, we are currently reviewing financing options, in particular strategic partnerships with third parties as joint venture partners. Despite lower capital expenditure, this structure offers the advantages of a stronger market position and greater financial flexibility.”

Bert Althaus, CFO of H2APEX: “H2APEX's growth will continue to be reflected in the construction progress of its projects. Short-term revenues from the EPC business will now be supplemented by prospective revenues from the construction of hydrogen production plants. For the current fiscal year, H2APEX expects revenue of between EUR 6 million and EUR 8 million from the operation of its own hydrogen plants, from the planning, construction, and operation of plants for third-party companies, and from the sale of hydrogen storage tanks.”

The expansion of the company's own production capacities is being driven primarily by the following reasons: Developing and operating its own plants offers greater revenue stability, better operating margins, improved scalability in the medium term, and makes H2APEX less dependent on the more volatile project business. This provides a solid foundation for sustainable long-term growth. Over the past few years, H2APEX has built up extensive expertise in the project business with hydrogen plants, which the company now intends to use in the construction and operation of its own plants.

Peter Rößner: "The current market consolidation offers us great opportunities to gain market share, as demonstrated by our takeover of the Lubmin project from HH2E. In addition, we are clearly noticing in the market that political uncertainty is decreasing noticeably following the conclusion of the new coalition agreement. The development of selected projects for third parties therefore remains a second, important pillar of our business model. In addition to the valuable transfer of expertise, they help to finance the expansion of our own production capacities thanks to early positive cash flows

The full annual report for the 2024 financial year is available for download on the company website at www.h2apex.com.

About H2APEX:

The operational core of H2APEX was founded in 2000 in Mecklenburg-Western Pomerania and has been fully dedicated to clean hydrogen production, storage, and distribution since 2012. As a pioneer in the field, H2APEX aims to establish itself as an internationally recognized developer and operator of hydrogen facilities. The company specializes in developing, constructing, selling, or operating green hydrogen plants with electrolysis capacities of up to 2 GW. These plants support the decarbonization of industrial value chains and the production of green hydrogen. They are used in industries such as steel, chemicals, and cement, as well as other energy-intensive sectors. Additionally, H2APEX provides infrastructure and logistics solutions, particularly for industrial applications in warehouses, ports, and production facilities.

https://h2apex.com/en/

Contact:

H2APEX

Kirsten Brückner     Phone: +49 381 799902-347

Head of Marketing and Communication   Mobile: +49 175 657 14 65

Timmermannsstrat 2a     E-Mail:  Kirsten.Brueckner@h2apex.com  

18055 Rostock      www.h2apex.com

IR.on AG

Frederic Hilke, Johannes Kaiser

Investor Relations                                                      Phone: +49 221 9140 973

Mittelstr. 12-14                                                           E-Mail:  h2apex@ir-on.com  

50672 Cologne                                                              www.ir-on.com