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KPIsSections19
| Revenue — GREEN | €15.3M |
|---|---|
| Net income — GREEN | -€24.7M |
| Net margin — GREEN | -161.4% |
| Operating margin — GREEN | -142.2% |
Red flags2 red
Liquidity2
RED
Negative operating cash flow
operating_cf_burnThe company is burning cash from operations — sustainability depends on financing.
RED
Net margin -161.4%
net_margin_sharply_negativeNet income margin below -5% — profitability materially negative vs revenue.
Income Statement
| Metric | Value | Flag |
|---|---|---|
| Revenue | €15.3M | GREEN |
| Operating Margin | -142.2% | GREEN |
| Net Margin | -161.4% | GREEN |
| Operating Income | -€21.8M | GREEN |
| Net Income | -€24.7M | GREEN |
| EBITDA | -€16.5M | GREEN |
| Income Tax Expense | €429,000 | GREEN |
| Pre-tax Income | -€24.2M | GREEN |
| Interest Expense | €2.5M | GREEN |
| Other Operating Expense/(Income) | €12.7M | GREEN |
| Interest and Investment Income | €679,000 | GREEN |
| Net Interest Exp | -€2.1M | GREEN |
| Other Non Operating Income (Expenses) | €1.0M | GREEN |
Balance Sheet
| Metric | Value | Flag |
|---|---|---|
| Total Assets | €122.5M | GREEN |
| Current Assets | €61.7M | GREEN |
| Current Liabilities | €30.0M | GREEN |
| Total Liabilities | €64.6M | GREEN |
| Total Equity | €57.7M | GREEN |
| Noncontrolling Interest | €127,000 | GREEN |
| Cash & Equivalents | €44.5M | GREEN |
| Short-term Debt | €163,000 | GREEN |
| Trade Receivables | €5.6M | GREEN |
| Trade Payables | €5.2M | GREEN |
| Short Term Investments | €5.4M | GREEN |
| Inventory | €210,000 | GREEN |
| Gross Property, Plant & Equipment | €52.4M | GREEN |
| Total Intangibles | €3.9M | GREEN |
| Other Current Liabilities | €2.0M | GREEN |
| Other Non-Current Liabilities | €340,000 | GREEN |
| Common Stock | €564,000 | GREEN |
| Additional Paid In Capital | €111.2M | GREEN |
Cash Flow
| Metric | Value | Flag |
|---|---|---|
| Operating Cash Flow | -€14.8M | GREEN |
| Capital Expenditures | €11.7M | GREEN |
| Investing Cash Flow | €76.4M | GREEN |
| Depreciation & Amortization | €5.2M | GREEN |
| Free Cash Flow | -€26.5M | GREEN |
| Financing Cash Flow | -€17.4M | GREEN |
| Asset Writedown & Restructuring Costs | €6.7M | GREEN |
| Change in Inventories | €6.3M | GREEN |
| Change in Other Net Operating Assets | €3.6M | GREEN |
| Cash Acquisitions | -€88.3M | GREEN |
| Foreign Exchange Rate Effect | €107,000 | GREEN |
| Cash Interest Paid | €2.2M | GREEN |
Sections in this filing
Business / Consolidation
h SCOPE OF CONSOLIDATION The following are the entities included in the parent’s company scope of consolidation: Ref. Company Country Year of acquisition / first time con- solidation Segment Activity Directly controlled by (use numbers from 1st column) Share in the capital Share of the votes 1 H2APEX Group SCA LUX 2023 C&O Holding N/A N/A N/A 2 exceet Holding S.à r.l. LUX 2023 Holding Corporate 1 100% 100% 3 exceet Group AG SUI 2023 Holding Corporate 2 100% 100% 4 RLG Holding GmbH GER 2023 Holding Corporate 1 100% 100% 5 RLG GmbH & Co.KG GER 2023 Holding Corporate 4 100% 100% 6 Northern Hydrogen Proper- ties GmbH GER 2023 Holding Corporate 5 100% 100% 7 APEX CapitalGmbH GER 2023 Holding Corporate 4 100% 100% 8 APEX Nova Holding GmbH GER 2019 Holding Holding 1 100% 100% 9 HydroExceed GmbH GER 2022 Storage Production of pressure tanks 8 100% 100% 10 AKROS Energy GmbH GER 2020 Storage Development of chemical storage solutions 8 100% 100% 11 GHS 1 GmbH GER 2020 Own Operations Hydrogene Powerplant Laage 8 100% 100% 12 GHS 2 GmbH GER 2020 Own Operations Hydrogene Powerplant IPCEI 8 100% 100% 13 GHS 3 GmbH GER 2020 Own Operations Hydrogene Powerplant Laage (extention) 8 100% 100% 14 GHS 4 GmbH (*) GER 2023 Own Operations Hydrogene Powerplant Lubmin 8 100% 100% 15 APEX Energy GmbH GER 2006 Project Developmet Customer Projects 8 100% 100% 16 HYSENC Entwicklungsgesell- schaft mbH GER 2021 Own Operations Hydrogene Powerplant control software 15 100% 100% 17 Plant Engineering GmbH GER 2023 Project Developmet Customer Projects 15 90% 90% * Still registered as Titan 128.VVG GmbH (renamed after balance sheet date) The following are the changes the Group’s scope of consolidation: Ref. Ref. Share in the capital Share of the votes Company Share in the capital Share of the votes Year of acquisition / first time consolidation 2022 and before 9 HydroExceed GmbH 100% 100% HydroExceed GmbH 86% 86% 10 AKROS Energy GmbH 100% 100% H2 Automations GmbH 100% 100% 11 GHS 1 GmbH 100% 100% GHS 1 GmbH & Co. KG 100% 100% 12 GHS 2 GmbH 100% 100% GHS 2 GmbH & Co. KG 100% 100% 13 GHS 3 GmbH 100% 100% GHS Verwaltungs GmbH 100% 100% 15 APEX Energy GmbH 100% 100% APEX Energy Teterow GmbH 100% 100% 16 HYSENC Entwicklungsgesellschaft mbH 100% 100% HYSENC Entwicklungsgesellschaft mbH 51% 51% Year of acquisition / first time consolidation 2023 1 H2APEX Group SCA N/A N/A N/A N/A N/A 2 exceet Holding S.à r