H2APEX adjusts its revenue forecast for 2024 due to timing shifts in revenue recognition. Nevertheless, H2APEX aims for nearly a doubling of revenue compared to the previous year.

• Revenue forecast for 2024 has been specified at a minimum of EUR 28 million.
• Especially delays in deliveries have been a key factor leading to the shift in revenues.
• Revenues not realized in 2024 will be recognized with a slight delay in 2025.

Grevenmacher (Luxembourg), November 26, 2024 – H2APEX (ISIN LU0472835155, WKN A0YF5P, formerly exceet Group SCA), a publicly listed leading developer and operator of green hydrogen plants for the decarbonization of industry, infrastructure, and mobility, announced today that it has adjusted its revenue forecast for the fiscal year 2024 as communicated in the group annual report 2023 based on recent developments. H2APEX now expects revenue of at least EUR 28 million for fiscal year 2024, compared to the previously projected range of EUR 35–40 million outlined in its 2023 group business report.

H2APEX still expects the total revenue volume to align with the original forecast based on its order backlog. However, the revenues are now expected to be distributed over a longer period. As a result, it is anticipated that not all revenues will be booked in the 2024 fiscal year as initially assumed. In particular, delays in component deliveries for projects have extended project timelines, meaning the deferred revenue will now be recognized in 2025.

Peter Rößner, CEO of H2APEX Group’s operations, stated: “The delays in revenue recognition are primarily due to delivery delays of components. We are doing everything possible to satisfy our customers and are optimistic that we can now move forward quickly to complete the projects – including one of the largest hydrogen electrolyzers in Germany with a capacity of 10 MW. Ensuring proper handover and reliable operation remains our top priority.”

Bert Althaus, CFO of H2APEX Group, added: “We will have nearly doubled our revenue in fiscal year 2024 compared to the previous year. Delays in revenue are the reason, why growth has not been even stronger. The deferred revenues will now contribute to our success in 2025. We will continue to structurally and with regards to personell align  our organization to growth strategy and we will continue working to align our organizational structure and personnel with our growth objectives.”

The ad hoc announcement regarding the 2024 revenue forecast is available for download in the "Investor Relations" section of the company website at www.h2apex.com. The interim report for the first three quarters of fiscal year 2024 will also be available there starting November 28, 2024.

About H2APEX

H2APEX is a merger of the H2APEX Group SCA (ISIN LU0472835155, WKN A0YF5P), listed in the Prime Standard of the Frankfurt Stock Exchange, and hydrogen specialist APEX Group. Together, the companies act in the market under the H2APEX brand. The operational core of H2APEX was founded in 2000 in Rostock/Laage 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 of less than 1 GW. These are used to decarbonize industrial value chains and produce green hydrogen and hydrogen derivatives such as LOHC (liquid organic hydrogen carriers) and e-fuels. They are used for example in the steel, chemicals and cement industries as well as other energy-intensive industries. In addition the company offers 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:
Kirsten Brückner
Phone: +49 381 799902 347
E-Mail: presse@apex-energy.de