Rostock-Laage, Grevenmacher (Grand Duchy of Luxembourg), 28 August 2025 – H2APEX Group SCA (Prime Standard, ISIN: LU0472835155, WKN: A0YF5P), a listed leading operator and developer of green hydrogen plants for the decarbonization of industry, infrastructure and mobility, today published its interim report for the first half of the 2025 financial year. Revenue in the first six months of 2025 amounted to EUR 4.2 million (H1 2024: EUR 17.5 million), which is in line with expectations for the full year 2025 (EUR 6 million to EUR 8 million).
Bert Althaus, CFO of H2APEX: “In the first six months of 2025, we focused on expanding our own hydrogen production capacities and made significant progress in this field, for example through the acquisition of HH2E Werk Lubmin GmbH and its hydrogen project in Lubmin. As expected, this was accompanied by a decline in revenue, which is in line with our full-year forecast. Thanks to the successful capital increase and the long-term support of our main shareholders, we are well positioned to implement our own project pipeline and thus play an important role in the ongoing consolidation of the hydrogen industry in Germany.”
Peter Rößner, CEO of H2APEX: “We have made significant progress with our company in the first half of 2025. Thanks to our partnership with CIP, one of the world’s most financially strong infrastructure funds, we have taken a major step towards starting construction of our projects in Lubmin. We plan to complete construction of our IPCEI-funded project by 2028 and then produce up to 10,000 tons of hydrogen annually, which corresponds to a capacity of 100 MW in the first expansion stage. We have already secured a preliminary agreement for the off-take of hydrogen from the first expansion stage.”
Due to high investments and increased personnel costs in the course of the growth strategy, as well as the decline in revenue, EBITDA amounted to EUR -13.3 million in the first half of 2025, compared to EUR -9.0 million in the previous year. Adjusted for the costs of share-based payments and transaction-related legal costs in connection with the acquisition of HH2E Lubmin Werk GmbH, the joint venture with CIP and other projects, EBITDA amounted to EUR -12.3 million (H1 2024: EUR -8.6 million). The company employed 159 people as of 30 June 2025 (FTE 31 December 2024: 139). The half-year result was EUR -16.0 million (H1 2024: EUR -14.1 million).