H2APEX Group SCA, a leading developer and operator of green hydrogen plants, published its interim report for the first quarter of 2026 on May 26, reporting a significant revenue increase to EUR 3.5 million compared to EUR 2.1 million in the same period last year. The growth was primarily driven by a new Project Management Consultancy (PMC) contract for the 100 MW IPCEI project "WAL - Hydrogen from Lubmin" and increased sales of green hydrogen from the company's own production. In Q1 2026, H2APEX delivered 17 tonnes of green hydrogen.
The company's EBITDA remained stable at EUR -7.1 million, in line with the previous year, while the order book stood at EUR 23.7 million as of March 31, 2026, up from EUR 22.6 million at the end of 2025. The order book reflects remaining performance obligations from project revenue and additional service contracts. H2APEX employed 155 people as of March 31, 2026, slightly up from 153 at year-end 2025.
CFO Bert Althaus commented on the results, stating that the first quarter reflects the initial successes of the strategic shift towards developing the company's own projects and expanding hydrogen production capacities. The PMC contract for the WAL project secures continuous revenue contributions throughout the year, while revenue from operating the company's own hydrogen plant continues to grow. Based on contractually secured revenue, contributions from own operations, and expiring EPC projects, H2APEX confirms its 2026 revenue forecast of EUR 14 million to EUR 16 million.
The increase in the greenhouse gas reduction quota adopted in May 2026 represents 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. New projects, particularly in green aviation fuels, aim to make civil and military fuel supply more resilient to geopolitical influences.
The interim report for the first quarter of 2026 is available for download in the 'Investor Relations' section of the company's website at https://h2apex.com/en/. Alternative performance measures such as EBITDA and the order book are defined in the report.
