H2APEX Group SCA, a developer and operator of green hydrogen plants, today published its interim report for the first quarter of the 2026 financial year, showing a significant revenue increase to EUR 3.5 million from EUR 2.1 million in the same period last year. The growth was driven by a new Project Management Consultancy (PMC) contract for the 100 MW IPCEI project “WAL - Hydrogen from Lubmin” and sales of green hydrogen from the company's own production, which totaled 17 tonnes in the first three months of 2026.
The company's EBITDA for the quarter remained stable at EUR -7.1 million, unchanged from Q1 2025. The order book, representing remaining performance obligations, stood at EUR 23.7 million as of March 31, 2026, up from EUR 22.6 million at the end of 2025. H2APEX employed 155 people as of the reporting date, compared with 153 at the end of 2025.
CFO Bert Althaus 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. With the PMC contract for the WAL project, we are securing continuous revenue contributions throughout the financial year. At the same time, revenue from operating our own hydrogen plant is continuing to grow.”
Based on contractually secured revenue, own operations, and expiring EPC projects, H2APEX confirmed its 2026 revenue forecast of between EUR 14 million and EUR 16 million. The company highlighted that the increase in the greenhouse gas reduction quota adopted in May 2026 represents an important step for the market ramp-up of green hydrogen in Germany's transport sector.
Through its strategy, H2APEX aims to contribute to a secure and independent energy supply in Germany and is pursuing new projects, particularly in green aviation fuels, to make civil and military fuel supply more resilient to geopolitical influences. The interim report is available for download in the Investor Relations section of the company's website at https://h2apex.com/en/.
