H2APEX meets forecast for the fiscal year 2023 and expects revenue to more
than double in 2024

EQS-News: H2APEX Group SCA / Key word(s): Miscellaneous/Miscellaneous
H2APEX meets forecast for the fiscal year 2023 and expects revenue to more
than double in 2024

05.03.2024 / 08:31 CET/CEST
The issuer is solely responsible for the content of this announcement.

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H2APEX meets forecast for the fiscal year 2023 and expects revenue to more
than double in 2024

  * Revenue in the 2023 fiscal year at EUR 15.3 million according to
    preliminary figures (previous year: EUR 3.8 million); Cash and cash
    equivalents as of December 31, 2023 at EUR 44.4 million according to
    preliminary figures

  * 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

  * Focus on profitable growth: Positive operating cash flow expected
    starting in the fiscal year 2025 and positive adjusted EBITDA starting
    in the fiscal year 2026

Rostock/Laage, Germany/Grevenmacher, Luxembourg, March 5, 2024 - H2APEX
(ISIN LU0472835155, WKN A0YF5P), a listed leading developer and operator of
green hydrogen plants for the decarbonization of industry, infrastructure
and the mobility sector, has generated revenues of EUR 15.3 million (FY
2022: EUR 3.8 million) in the 2023 fiscal year according to preliminary
figures, thus achieving its forecast. Based on positive cash flows from the
project business (EPC), the cash position increased to EUR 44.4 million as
of 31 December 2023 according to preliminary figures, despite significant
investments in personnel, the company's own hydrogen plant operations and in
the automation of storage tank production. The company is thereby
financially well positioned for its continued development.

For the current fiscal year 2024, the company expects its growth course to
continue and to more than double its revenue from the previous year to EUR
35 million to EUR 40 million. This development will be supported by revenues
from the planning and construction of hydrogen plants for third-party
companies, from the operation of hydrogen plants and from the sale of
hydrogen storage tanks, for which fully automated series production will
begin in the fiscal year 2024. The majority of the revenues expected in 2024
have already been contractually secured.

The company's strategy remains focused on achieving profitable growth as
quickly as possible, which is reflected in two medium-term target figures
communicated by the Management Board today: H2APEX expects to generate a
positive operating cash flow starting in the fiscal year 2025 and a positive
adjusted EBITDA (1) starting in the fiscal year 2026.

Peter Rößner, CEO of the operating business of H2APEX Group, said: "At the
beginning of 2023, the starting signal for the scaling of our business was
given. In the past fiscal year, we successfully ramped up our business and
met our revenues forecast. In addition, we gained new orders from renowned
customers in 2023 and successfully advanced ongoing projects, which form the
basis for our further positive revenue development. The EU funding approved
in February 2024 for our 100 MW H2ERO plant, for which we have applied for
funding totaling EUR 167 million, confirms our leading position in the
planning and construction of large-scale plants. When completed in 2028, it
will be one of the largest hydrogen plants in Germany and we will operate it
ourselves. This puts us in an excellent position to win further projects. We
see further growth potential in the EU's funding approval for the IPCEI
hydrogen projects because these projects will require project developers
such as H2APEX to implement them. It remains our objective to generate
revenues from the project business and to generate recurring revenues from
the operation of hydrogen plants."

Bert Althaus, CFO of the operating business of H2APEX, said: "We will
multiply our turnover in the coming years, but we are also placing a high
priority on growing profitably. Accordingly, we plan to achieve positive
operating cash flow as early as the coming fiscal year and positive adjusted
EBITDA in 2026. H2APEX is well funded and has proven its ability to finance
large projects."

H2APEX will publish the final figures and the annual report for the 2023
fiscal year on April 30, 2024.

About H2APEX

H2APEX is a merger of H2APEX Group SCA (ISIN LU0472835155, WKN A0YF5P),
which is listed in the Prime Standard of the Frankfurt Stock Exchange, and
the hydrogen specialist APEX Group. Together, the companies act in the
market under the H2APEX brand. The operational core of H2APEX was founded in
Rostock/Laage, Germany, in 2000 and has focused entirely on clean hydrogen
production, storage and distribution since 2012. This makes the company one
of the pioneers in this field. The goal of H2APEX is to become an
internationally established developer and operator of hydrogen plants. In
its core business, H2APEX develops, builds and sells or operates green
hydrogen plants with an electrolysis capacity below 1 GW. These are used to
decarbonize industrial value chains and to produce green hydrogen and
hydrogen derivatives such as LOHC (liquid organic hydrogen carriers) and
e-fuels. They are used, for example, in the steel, chemical and cement
industries as well as other energy intensive industries. In addition, the
company offers hydrogen plants for infrastructure and logistics, especially
for industrial use in warehouses, ports and production facilities.

www.h2apex.com

Investor contact:
Phone: +352 28 38 47 20
E-Mail: investor.relations@h2apex.com

Web: www.ir.h2apex.com


Press contact:
Charles Barker Corporate Communications
Tobias Eberle / Jan Sefrin
Phone: +49 69 794090 -24 / -26
E-Mail: h2apex-cb@charlesbarker.de

(1)Adjusted EBITDA describes EBITDA adjusted for non-recurring expenses that
are not attributable to business operations and expenses from the stock
option program.


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05.03.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS
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The issuer is solely responsible for the content of this announcement.

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   Language:       English
   Company:        H2APEX Group SCA
                   17, rue de Flaxweiler
                   6776 Grevenmacher
                   Luxemburg
   Phone:          +352 2838 4720
   Fax:            +352 2838 4729
   E-mail:         info@exceet.com
   Internet:       www.h2apex.com
   ISIN:           LU0472835155, LU0472839819
   WKN:            A0YF5P, A1BFHT
   Listed:         Regulated Market in Frankfurt (Prime Standard);
                   Regulated Unofficial Market in Berlin, Munich,
                   Stuttgart, Tradegate Exchange
   EQS News ID:    1851183

End of News EQS News Service
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1851183 05.03.2024 CET/CEST