H2APEX Group SCA, a leading developer and operator of green hydrogen plants, published its interim report for the first quarter of the 2026 financial year, reporting a significant increase in revenue. Revenue rose to EUR 3.5 million in Q1 2026, compared to EUR 2.1 million in the same period last year, representing a 67% increase. The growth was primarily driven by a new Project Management Consultancy (PMC) contract and increased sales of green hydrogen from the company's own production.
The PMC contract, signed in February 2026, is for the 100 MW IPCEI project "WAL - Hydrogen from Lubmin" and provides predictable service revenues throughout the year. In the first three months of 2026, H2APEX delivered 17 tonnes of green hydrogen from its own production, contributing to the revenue increase. The order book stood at EUR 23.7 million as at 31 March 2026, slightly up from EUR 22.6 million at the end of 2025, reflecting the scheduled completion of projects and new service contracts.
EBITDA for the quarter remained stable at EUR -7.1 million, consistent with the prior year. The company maintained its workforce at 155 employees as of 31 March 2026. 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." He added that the PMC contract ensures continuous revenue contributions, and revenue from operating their own hydrogen plant is growing. Based on contractually secured revenue and contributions from own operations, H2APEX confirmed its 2026 revenue forecast of EUR 14 million to EUR 16 million.
The increase in the greenhouse gas reduction quota adopted in May 2026 is seen as an important step for the market ramp-up of green hydrogen in Germany's transport sector. H2APEX aims to contribute to a secure and independent energy supply in Germany through consistent strategy implementation. The company also targets new projects, particularly in green aviation fuels, to make fuel supply more resilient to geopolitical influences.
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.
