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

EQS-News: H2APEX Group SCA / Key word(s): Annual Results/Annual Results H2APEX confirms both its preliminary figures for the fiscal year 2023 and its forecast for 2024 – and expects revenue to more than double 01.05.2024 / 07:50 CET/CEST The issuer is solely responsible for the content of this announcement. H2APEX confirms both its preliminary figures for the fiscal year 2023 and its forecast for 2024 – and expects revenue to more than double

 

• Revenue in the 2023 fiscal year quadrupled to EUR 15.3 million (previous year: EUR 3.8 million)
• 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
• 3-pillar strategy: Grow project business, expand own production capacity and kick off serial production for storage solutions
• Focus on profitable growth: Positive operating cash flow expected starting in the fiscal year 2025 and positive adjusted EBITDA[1] starting in the fiscal year 2026

 

Rostock/Laage, Germany/Grevenmacher, Luxembourg, April 30, 2024 – H2APEX (ISIN LU0472835155, WKN A0YF5P, formerly exceet Group SCA), a listed leading developer and operator of green hydrogen plants for the decarbonization of industry, infrastructure and the mobility sector, has confirmed its preliminary figures for the 2023 fiscal year released on March 5, 2024 and published its 2023 annual report. Revenue quadrupled year-on-year to EUR 15.3 million in the 2023 fiscal year (FY 2022: EUR 3.8 million), and thus H2APEX has met its guidance.

 

Due to high investments and increased personnel costs as part of the growth strategy, adjusted EBITDA amounted to EUR -16.1 million in the 2023 fiscal year, compared to EUR -9.2 million in the previous year. The net result for the year amounted to EUR -24.6 million, compared to EUR -13.0 million in the 2022 financial year.

With cash and cash equivalents of EUR 44.4 million as of December 31, 2023, an equity ratio of 46.1 percent and a proven ability to successfully raise funding and debt financing for projects, H2APEX is optimally positioned to realize its project pipeline.