H2apex Group Sca · XETR:H2A
H2apex Group Sca — Pareto Conference, Oslo 2024
21 slides from H2apex Group Sca's conference presentation, January 2024
Slide 1: H2ELLO
H2ELLO Pareto – Conference, Oslo - Norway January 2024
Slide 2: Green H2 Market Poised for Growth
GREEN H2 MARKET POISED FOR GROWTH APEX Covering Relevant Segments in the Largest & Fastest Growing H2 Economy EU H2 demand split by production pathway, 2019-’50, mtpa 2030 EU H2 demand by segment, mtpa Heating: 15% Marine: 2% Chemicals: 29% Green 39 Road Transport: Current Low-Carbon 8% APEX Focus G
Slide 3: Leading Developer, Owner & Operator of H2 Plants with Advantages over Peers
LEADING DEVELOPER, OWNER & OPERATOR OF H2 PLANTS WITH ADVANTAGES OVER PEERS PROVEN EMPLOYEE MASSIVE TRACK TEAM PROJECT RECORD QUALITIES PIPELINE 2 MW H2 Plant As of September, 100 highly More than 1,7 GW • Fueled by 11,5 MW MWp skilled and experienced employees EU flagship projec: Awarded 100 own so
Slide 4: Experienced, Ambitious and Expanding Management Team
EXPERIENCED, AMBITIOUS AND EXPANDING MANAGEMENT TEAM Pioneers in the green hydrogen space Peter Rößner (CEO) Bert Althaus (CFO) Axel Funke (CTO) Bojan Petrov (COO) Gunnar Krüger (CBO) • CEO since 2022. Previously • 10+ years of finance and • +30 years of experience in • 10+ years technical sales • 2
Slide 5: Building a Pioneer in Hydrogen Solutions
BUILDING A PIONEER IN HYDROGEN SOLUTIONS Driving innovation by multi-supplier and open technology approach Strong and accelerating momentum Setting the Breakthrough public funding H2-Wyhlen foundations (“H2ERO electrolysis“) 5MW project signed • Scaling and • IPCEI(1) approval for 105 MW (Oct 2022)
Slide 6: Europe's Leading Hydrogen Park as Strong Asset Base
EUROPE’S LEADING HYDROGEN PARK AS STRONG ASSET BASE More than EUR 50m invested in strategically located state-of-the-art facilities Rostock- Future 100 MW H2ERO Laage 24 ha electrolysis site1 (IPCEI project) infrastructure for 200 MW APEX hydrogen refuelling station Apex Production for Type IV Facil
Slide 7: Business Model Addresses Profitable Growth
BUSINESS MODEL ADDRESSES PROFITABLE GROWTH Two Pillars of High Profit Contribution and Strategic Investment Opportunity Value Proof of concept Develop Build Own Operate chain Dev Build Own Operate Own & Operate – Evolve Business Model to Production & Sale of Green 2 H2 ~2023-2027 onwards • Build on
Slide 8: H2 Storage Solutions
H2 STORAGE SOLUTIONS Advantages of our type IV transport pressure vessels DESIGN Our product complies with newest EU norms & regulations and is ready for all relevant use cases (stationary, mobile, and maritime). Unlike our competitors, we build our storage systems with a horizontal layout which red
Slide 9: Project Development – Filled Project Backlog
1 PROJECT DEVELOPMENT – FILLED PROJECT BACKLOG Three German Flagship Projects for reputable customer AWARDED (3rd Party EPC) 15 MW plus 2.200 t of green hydrogen and 3 filling stations CO2-Neutral Steel Production for ArcelorMittal (€17 Mio. expected over 2 years) Electrolysis capacity: 10 MW EPC co
Slide 10: Strong and Rapidly Growing Commercial Pipeline
STRONG AND RAPIDLY GROWING COMMERCIAL PIPELINE Tangible pipeline of more than 1.7 GW of H2 capacity Distribution of projects in % 15 TOTAL PIPELINE RAPIDLY EXPANDING PIPELINE • > 1.7 GW • As of beginning of 2022 ~300 MW • 4 projects awarded in less than 85 a year up to 50 MW > 50 MW 958 MW 50-112GW
Slide 11: Own & Operate – Executing Towards 2GW by 2030
2 OWN & OPERATE – EXECUTING TOWARDS 2GW BY 2030 3 Projects in Advanced Development Stage Supplemented with Filled Project Pipeline OWN PROJECTS (ONP) Project Timeline 815 MW ADVANCED DEVELOPMENT STAGE: FID Q2/24 100 MW A DEMO 3.0 - 10MW Expansion of existing 2MW plant COD Q1/27 100 MW A H2HERO (IPCE
Slide 12: Hydrogen Valley: H2ERO – 100 MW IPCEI Flagship Project
2A HYDROGEN VALLEY: H2ERO – 100 MW IPCEI FLAGSHIP PROJECT Important Project of Common European Interest (IPCEI) Financials: Investment: 213 Mio. € Funding (IPCEI grant)1: 167 Mio. € Exp. Revenues (p.a.): 55 Mio. €2 Details: Electrolysis capacity: 100 MW Hydrogen storage: Direct grid feed Production
Slide 13: With Connection to Future H2 Gas Network FLOW
2B WITH CONNECTION TO FUTURE H2 GAS NETWORK “FLOW” • Electrolysis capacity: first stage 100-150 MW, final stage up to 600 MW • H2-Production capacity: up to 54.800 t p.a. • 5.2 ha of land acquired in July 2023 • Hydrogeological expertise for securing process water completed • Securing 1 GW of power
Slide 14: Clear Strategy for Long-Term Value Creation
CLEAR STRATEGY FOR LONG-TERM VALUE CREATION We will be one of the largest European H2 players with more than 2 GW by 2030 2028- • >2 GW commissioned by 2030 Accellerate scale-up 2030 • Majority of projects owned by APEX 2023- • Continued pipeline build-up and execution Establishing profitable growth
Slide 15: Financials and Looking Forward
financials and looking forward 17
Slide 16: Actual – Balance Sheet
ACTUAL – BALANCE SHEET Balance Sheet Actual Actual Actual Actual 2022 Q1 2023 Q2 2023 Q3 2023 [in kEUR] [%] [in kEUR] [in kEUR] [in kEUR] A. Non-current Assets 37.150,9 60% 52.983,9 56.706,8 58.662,3 Commentary B. Current Assets 23.486,7 38% 81.212,9 67.950,9 59.092,7 C. Prepaid expenses and deferre
Slide 17: Actual – P&L
ACTUAL– P&L Profit & Loss APEX Nova Holding GmbH (consolidated) Commentary Actual Actual Actual Actual 2020 2021 2022 Q1 - Q3 2023 [in kEUR] [%] [in kEUR] [%] [in kEUR] [%] [in kEUR] [%] § Current income statement of Apex Nova Holding GmbH until 2022 Total revenues 488,3 100% 407,0 100% 3.848,1 100%
Slide 18: Actual / Expected – Cash Flow
ACTUAL / EXPECTED – CASH FLOW Commentary § Operating cash is mainly due to the adjusted EBITDA (published) § Working Capital increase mainly by additional contracted assets § Investment represents the reversed acquisition due to the business combination between exceet and APEX as well as the first-t
Slide 19: Revenue Growth Accelerates with Own Mega H2 Production
REVENUE GROWTH ACCELERATES WITH OWN MEGA H2 PRODUCTION Planned revenue (k€) EPC Service & Operation Storage H2 Production Commentary § Existing experience with Hydrogen sales and distribution will accelerate with start of H2 pipeline operation § EPC revenue from project volume of EUR 2-30 million co
Slide 20: Break-Even by Established EPC and Storage Business
BREAK-EVEN BY ESTABLISHED EPC AND STORAGE BUSINESS Planned EBITDA (k€) EPC Storage Administration / Holding Service & Operation H2 Production Total adj. EBITDA Commentary § Positive Operating Cashflow in 2025 § Profitable EPC and storage business drive break-even in 2026 § Long-term service and main
Slide 21: Unlocking Significant Value in Hydrogen
UNLOCKING SIGNIFICANT VALUE IN HYDROGEN ü Clean hydrogen market now at inflection point and poised for exponential growth ü Leading H2 integrator in the EU pioneering developing, owning & operating hydrogen solutions ü Differentiated business model well positioned to capture market opportunities ü P