EQS-News

H2APEX confirms both its preliminary figures for the fiscal year 2023 and its forecast for 2024 – and expects revenue to more than double - Seite 2

In February 2024, exceet Group SCA changed its name to H2APEX Group SCA in line with the focus on its subsidiary APEX Group. Since then, the two companies are operating in the market under the H2APEX brand.

For the current fiscal year 2024, H2APEX expects its growth course to continue and to more than double its revenue from the previous year to EUR 35 million to EUR 40 million. This development will be supported by revenues from the planning and construction of hydrogen plants for third-party companies, from the operation of own hydrogen plants and from the sale of hydrogen storage tanks, for which fully automated series production will begin in the fiscal year 2024. The majority of the revenues expected in the 2024 fiscal year have already been contractually secured.

 

Peter Rößner, CEO of the operating business of H2APEX Group, said: "Green hydrogen is a central component of the strategy for achieving the EU climate targets for 2030 and is particularly relevant for Germany as an industrial hub. Our 3-pillar strategy, which consists of growing our project business, expanding our own production of green hydrogen and kicking off serial production for storage solutions, has already borne fruit in the first year of our ramp-up phase. We were able to achieve success in all three areas, with new orders from renowned customers, important progress in ongoing projects, the acquisition of land in Lubmin in order to build our planned 600MW hydrogen plant, the funding commitment for our 100MW hydrogen plant H2ERO, as well as the acquisitions of engineering firms and the completed preparation of serial production for our storage tanks, which will start in the 2024 fiscal year. We are on course for further growth and will once again significantly increase our revenues in the current fiscal year."

 

Bert Althaus, CFO of the operating business of H2APEX, added: "We give high priority to achieving a balance between growth and profitability. The assets side of our balance sheet is currently still strongly affected by investments and the ramp-up of our business activities. However, we are planning for a positive operating cash flow already in the 2025 fiscal year and a positive adjusted EBITDA in 2026. Based on a comprehensive track record in the planning, construction and operation of hydrogen plants, our with regards to hydrogen projects strategically advantageous location in northern Germany, and the strong demand for green hydrogen and plants to produce green hydrogen, we are in an optimal position to continue our successful development."