H2APEX Group SCA, a developer and operator of green hydrogen plants, announced its financial results for the first quarter of 2026, showing a 67% increase in revenue compared to the same period last year. The company reported revenue of EUR 3.5 million for Q1 2026, up from EUR 2.1 million in Q1 2025, driven primarily by a new Project Management Consultancy (PMC) contract and sales of green hydrogen from its own production.
The PMC contract, secured in February 2026 for the 100 MW IPCEI project "WAL - Hydrogen from Lubmin," contributed predictable service revenues. Additionally, H2APEX delivered 17 tonnes of green hydrogen from its own production in the first three months of the year. The order book stood at EUR 23.7 million as of March 31, 2026, reflecting scheduled project completions and new service contracts.
EBITDA remained stable at EUR -7.1 million, consistent with the prior year. The company attributed this to planned investments in project development and capacity expansion. CFO Bert Althaus noted that the strategic shift towards developing own projects and expanding hydrogen production capacities is yielding initial successes, with improved revenue quality and growth in operating income from the company's hydrogen plant.
H2APEX confirmed its 2026 revenue forecast of EUR 14 million to EUR 16 million, supported by contractually secured revenue, contributions from own operations, and expiring EPC projects. The company also highlighted the recent increase in Germany's greenhouse gas reduction quota as a positive market signal for green hydrogen in the transport sector.
Looking ahead, H2APEX aims to contribute to a secure and independent energy supply in Germany through new projects, including those in green aviation fuels to enhance resilience of civil and military fuel supply against geopolitical influences. The interim report is available on the company's website at https://h2apex.com/en/ in the Investor Relations section.
