EQS-News

H2APEX meets forecast for the fiscal year 2023 and expects revenue to more than double in 2024

EQS-News: H2APEX Group SCA / Key word(s): Miscellaneous/Miscellaneous H2APEX meets forecast for the fiscal year 2023 and expects revenue to more than double in 2024 05.03.2024 / 08:31 CET/CEST The issuer is solely responsible for the content of this announcement. H2APEX meets forecast for the fiscal year 2023 and expects revenue to more than double in 2024

 

• Revenue in the 2023 fiscal year at EUR 15.3 million according to preliminary figures (previous year: EUR 3.8 million); Cash and cash equivalents as of December 31, 2023 at EUR 44.4 million according to preliminary figures
• Revenue guidance for 2024 of EUR 35 million to EUR 40 million shows strong growth expectations, the majority of these revenues have already been contractually secured
• Focus on profitable growth: Positive operating cash flow expected starting in the fiscal year 2025 and positive adjusted EBITDA starting in the fiscal year 2026

 

Rostock/Laage, Germany/Grevenmacher, Luxembourg, March 5, 2024 – H2APEX (ISIN LU0472835155, WKN A0YF5P), a listed leading developer and operator of green hydrogen plants for the decarbonization of industry, infrastructure and the mobility sector, has generated revenues of EUR 15.3 million (FY 2022: EUR 3.8 million) in the 2023 fiscal year according to preliminary figures, thus achieving its forecast. Based on positive cash flows from the project business (EPC), the cash position increased to EUR 44.4 million as of 31 December 2023 according to preliminary figures, despite significant investments in personnel, the company's own hydrogen plant operations and in the automation of storage tank production. The company is thereby financially well positioned for its continued development.

For the current fiscal year 2024, the company 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 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 2024 have already been contractually secured.