H2APEX Group SCA (ISIN: LU0472835155), a leading developer and operator of green hydrogen plants, today published its interim report for the first quarter of the 2026 financial year, reporting a significant increase in revenue to EUR 3.5 million (Q1 2025: EUR 2.1 million). The growth is primarily attributable to a new Project Management Consultancy (PMC) service contract and the sale of green hydrogen from the company's own production.
The PMC contract, concluded in February 2026 for the 100 MW IPCEI project 'WAL - Hydrogen from Lubmin', provides predictable service revenues for the current financial year. In the first three months of 2026, H2APEX supplied 17 tonnes of green hydrogen from its own production. The company's order book stood at EUR 23.7 million as at 31 March 2026 (31 December 2025: EUR 22.6 million), reflecting the scheduled completion of projects.
EBITDA for the reporting period was EUR -7.1 million, unchanged from the prior year (Q1 2025: EUR -7.1 million). As at 31 March 2026, the company had 155 employees (31 December 2025: 153). Bert Althaus, CFO of H2APEX, commented: 'The first quarter of 2026 reflects the initial successes of our strategic shift: we have significantly increased our revenue compared with the same quarter last year whilst further improving the quality of our revenue base.'
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. Through consistent implementation of its strategy, H2APEX aims to contribute to a secure and independent energy supply in Germany. With new projects, particularly in the field of green aviation fuels, the company also aims to make the civil and military fuel supply more resilient to geopolitical influences.
Based on contractually secured revenue, contributions from its own operations, and expiring EPC projects, H2APEX confirms its 2026 revenue forecast of between EUR 14 million and EUR 16 million. The interim report for the first quarter of 2026 is available on the company's website at https://h2apex.com/en/ in the 'Investor Relations' section.
