H2APEX Reports Revenue Growth in Q1 2026, Confirms Full-Year Forecast

H2APEX Group SCA, a developer and operator of green hydrogen plants, published its interim report for the first quarter of the 2026 financial year on May 26, 2026. The company reported revenue of EUR 3.5 million for Q1 2026, up from EUR 2.1 million in the same period last year. The growth was primarily driven by a Project Management Consultancy (PMC) contract for the 100 MW IPCEI project 'WAL - Hydrogen from Lubmin' and sales of green hydrogen from the company's own production. In the first three months of 2026, H2APEX delivered 17 tonnes of green hydrogen.

EBITDA for the quarter stood at EUR -7.1 million, unchanged from the prior year. The order book, representing remaining performance obligations, reached EUR 23.7 million as of March 31, 2026, compared to EUR 22.6 million at the end of 2025. The company maintained a workforce of 155 employees as of March 31, slightly up from 153 at year-end 2025.

Bert Althaus, CFO of H2APEX, commented: 'The first quarter of 2026 reflects the initial successes of our strategic shift: we have significantly increased our revenue compared with the same quarter last year whilst further improving the quality of our revenue base. With the PMC contract for the WAL project, we are securing continuous revenue contributions throughout the financial year.' Althaus also noted that revenue from operating the company's own hydrogen plant is continuing to grow, and based on contractually secured revenue and contributions from operations, H2APEX confirms its full-year 2026 revenue forecast of EUR 14 million to EUR 16 million.

The increase in the greenhouse gas reduction quota adopted in May 2026 is seen as an important step towards the market ramp-up of green hydrogen in Germany's transport sector. H2APEX aims to contribute to a secure and independent energy supply in Germany through consistent strategy implementation. With new projects, particularly in green aviation fuels, the company also aims to make fuel supply more resilient to geopolitical influences.

The interim report for Q1 2026 is available in the 'Investor Relations' section of the company's website at https://h2apex.com/en/.