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EQS-News: H2APEX Group SCA / Key word(s): Quarterly / Interim Statement/Quarter Results
H2APEX generated strong revenue growth in Q1 2024 and confirms revenue guidance for FY 2024 of EUR 35 million to EUR 40
million
2024-05-28 / 18:43 CET/CEST
The issuer is solely responsible for the content of this announcement.
H2APEX generated strong revenue growth in Q1 2024 and confirms revenue guidance for FY 2024 of EUR 35 million to EUR 40
million

. Revenue in Q1 2024 increased sixfold to EUR 10.1 million (Q1 2023: EUR 1.5 million)
. The majority of the expected revenues for 2024 have already been contractually secured: Backlog amounts
to EUR 27.4 million
. Revenue guidance for fiscal year 2024 of EUR 35 million to EUR 40 million confirmed
. Development of own new hydrogen plants in Laage and Lubmin and scaling of storage production are on track

. The number of employees grew to 137 in the first quarter as part of the growth strategy

Rostock/Laage, Germany/Grevenmacher, Luxemburg, May 28, 2024 - H2APEX (ISIN LU0472835155, WKN A0YF5P, formerly exceet
Group SCA), a listed leading developer and operator of green hydrogen plants for the decarbonization of industry,
infrastructure and the mobility sector, today published its interim statement for the first quarter of the 2024 fiscal
year (ended March 31, 2024). Revenue increased sixfold year-on-year to EUR 10.1 million in Q1 2024 (Q1 2023: EUR 1.5
million). The strong growth in revenues was predominantly driven by the project business, i.e., the implementation of
hydrogen plants for industrial and energy companies.
Due to high investments and increased personnel costs as part of the growth strategy, adjusted EBITDA amounted to EUR
-3.6 million in Q1 2024, compared to EUR -3.5 million in the previous year quarter. The company had 137 employees (FTE)
as of March 31, 2024, compared to 110 employees as of December 31, 2023. The quarterly result amounted to EUR -5.0
million, compared to EUR -4.4 million in Q1 2023.
With a backlog of EUR 27.4 million already contractually secured as of March 31, 2024, H2APEX is on track to achieve
its revenue guidance of EUR 35 million to EUR 40 million for the 2024 fiscal year (revenue FY 2023: EUR 15.8 million).
This development will be supported by revenues from the planning and construction of hydrogen plants for third-party
companies, from the operation of own hydrogen plants and from the sale of hydrogen storage tanks.
The development of own new hydrogen plants in Laage (100MW H2ERO project) with planned completion in 2028 and in Lubmin
with planned completion of the first 100MW expansion stage of a total planned capacity of 600MW in 2027 is on track.
Fully automated serial production of H2APEX's hydrogen tanks is scheduled to start at the end of fiscal year 2024.
Peter Rößner, CEO of the operating business of H2APEX Group said: "We made good progress in the first quarter of 2024
both in the project business and in the development of our own hydrogen plants. The expected revenue development on the
basis of the contractually secured backlog reflects the solid planning security of our business. At the same time, we
are participating in several procurement procedures and our pipeline for potential new business is well filled."
The interim report for the first quarter of fiscal year 2024 can be downloaded from the company's website at
www.h2apex.com in the "Investor Relations" section.




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: +49 381 799902 320
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
2024-05-28 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.

Archive at www.eqs-news.com  
Language:     English 
Company:      H2APEX Group SCA 

19, 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: 1912975

End of News EQS News Service
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1912975 2024-05-28 CET/CEST

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May 28, 2024 12:44 ET (16:44 GMT)