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 on May 26, 2026. The company reported revenue of EUR 3.5 million, up from EUR 2.1 million in the same period last year, driven by a new Project Management Consultancy (PMC) contract and sales of green hydrogen from its own production.
The PMC contract, signed in February 2026 for the 100 MW IPCEI project 'WAL - Hydrogen from Lubmin', contributed significantly to the revenue growth. H2APEX supplied 17 tonnes of green hydrogen from its own production in the first three months of 2026. The company's order book stood at EUR 23.7 million as of March 31, 2026, compared to EUR 22.6 million at the end of 2025, reflecting scheduled project completions and new service contracts.
EBITDA for the quarter was EUR -7.1 million, unchanged from the previous year, as the company continues to invest in its strategic shift towards developing its own projects and expanding hydrogen production capacities. As of March 31, 2026, H2APEX had 155 employees, slightly up from 153 at the end of 2025.
Bert Althaus, CFO of H2APEX, 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. With the PMC contract for the WAL project, we are securing continuous revenue contributions throughout the financial year. At the same time, revenue from operating our own hydrogen plant is continuing to grow.'
H2APEX confirmed its revenue forecast for the 2026 financial year of EUR 14 million to EUR 16 million, based on contractually secured revenue, contributions from its own operations, and expiring EPC projects. The company also highlighted the increase in the greenhouse gas reduction quota adopted in May 2026 as an important step for the market ramp-up of green hydrogen in Germany's transport sector.
The company aims to contribute to a secure and independent energy supply in Germany through new projects, particularly in green aviation fuels, to make civil and military fuel supply more resilient to geopolitical influences. The interim report for Q1 2026 is available on the company's website at https://h2apex.com/en/.
