H2APEX Achieves 2023 Revenue Forecasts and Anticipates Doubling Earnings in 2024

H2APEX, a leading developer and operator of green hydrogen plants, reported fulfilling its revenue forecast for the fiscal year 2023, with earnings amounting to EUR 15.3 million, a substantial increase from EUR 3.8 million the previous year. The company also highlighted a strong cash position with EUR 44.4 million in cash and cash equivalents as of December 31, 2023.

Looking ahead, H2APEX has set an ambitious revenue target for the fiscal year 2024, expecting to more than double its earnings to between EUR 35 million and EUR 40 million. This growth is anticipated due to secured contracts, not only from the development and construction of hydrogen plants for third parties but also from their operation and from sales of hydrogen storage tanks.

In line with its growth strategy, H2APEX aims for profitable expansion, forecasting a positive operating cash flow in the fiscal year 2025 and a positive adjusted EBITDA in the fiscal year 2026. CEO Peter Rößner and CFO Bert Althaus expressed confidence in the company’s trajectory, attributing it to strong project business, strategic customer acquisitions, and endorsed EU funding for significant projects like the 100 MW H2ERO plant. The company is well-funded, demonstrating a capability to manage large projects effectively.

H2APEX is set to release its final figures and annual report for the 2023 fiscal year on April 30, 2024, further detailing its financial health and operational achievements.