Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
Data sourced from SEC EDGAR filings and third-party price providers. Scores, valuations, and metrics are algorithmic estimates. This is not investment advice. See our Terms and Methodology.
H2APEX Group SCA is a Luxembourg-based specialist in renewable energies, fully dedicated to the production, storage, and distribution of clean hydrogen. The company develops, builds, sells, and operates green hydrogen plants with electrolysis capacities under one gigawatt, enabling the decarbonization of industrial value chains through hydrogen and derivatives like liquid organic hydrogen carriers (LOHC) and e-fuels. It also provides turnkey systems for infrastructure and logistics in warehouses, ports, and production facilities, serving sectors such as industry, transportation, engineering, research, government, and automotive manufacturing. As an EPC partner, H2APEX integrates customized hydrogen projects, produces green hydrogen for energy transition, and advances mobile and stationary storage solutions, including chemical storage research. Operating in the basic materials sector under specialty chemicals, with 157 employees, the company fosters innovation through industry associations and partnerships, like the joint venture 'Hanseatic H2' for decentralized projects. Headquartered in Grevenmacher, H2APEX plays a pivotal role in advancing CO2-neutral energy supply and hydrogen technologies for a sustainable future.
The business is unprofitable at the operating level (-352.34% margin). The thesis depends entirely on whether and when it reaches sustainable profitability.
Revenue declined 66.3% YoY. Margins deteriorated 265.5pp alongside, both lines moving the wrong way.
ROIC dropped from -32.01% to -42.29%, capital efficiency is deteriorating. Negative free cash flow of -€48M. The business is consuming cash, not generating it.
Profitability & Returns
Revenue (TTM)
€11M
▼ -66.3% YoY
Net Income (TTM)
-€34M
▼ -21.4% YoY
Op. Margin
-307.07%
▼ -265.5pp YoY
ROIC
-42.29%
▼ -10.3pp YoY
Cash Flow & Balance Sheet
FCF (FY)
-€48M
▼ -122.4% YoY
Op. Cash Flow (FY)
-€34M
▼ -84.1% YoY
Net Debt
€34M
Cash & Equiv.
€3M
3Y CAGR: +37.3%
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