Accelerated Growth, with a 4-fold Increase in Annual Sales

Financial year 2024 Results

Despite what we're hearing about the pace of development of the green hydrogen sector in Europe, Lhyfe has managed to hold its own thanks to a strategy that's clearly paying off, and continues to grow nicely.

2024, a year of commercial growth and industrial development

• Record € 5.1 m revenues in 2024, x4 compared to 2023, in line with guidance
• A growing portfolio of almost 50 customers by the end of 2024 and several significant offtake contracts recently signed in France and Germany
• Strong increase in our installed electrolysis capacity now at 22 MW, x22 versus IPO
• 2 FIDs announced in 2024: Croixrault (for a 5 MW site in Hauts de France) and Le Cheylas (for a 10 MW site in Auvergne Rhône Alpes) currently under construction
• Solid cash position with € 72 m available as of end 2024
• 1st place in Europe in terms of ESG performance, in the Industry - Utilities sector, according to the EthiFinance ranking
• Major memorandum of understanding signed with Masdar to jointly develop large green hydrogen production sites in Europe

A stronger position in the green hydrogen production value chain

• Unique track record with the installation of 6 green hydrogen production sites, securing future deployments of sites with increasing capacities
• 3 sites under construction or extension, representing an increase of more than 75 % in production capacity by 2026
• One of the largest modern bulk hydrogen transport fleets in Europe, with nearly 70 hydrogen containers in service in 8 countries, giving Lhyfe a large customer coverage

Strong sales growth expected in 2025 and confirmation of 2026 guidance

• Strong growth in revenue in 2025:
  • x2 to x3 increase expected in hydrogen sales compared to 2024
  • Strong growth expected in partnership revenues
• 2026 guidance confirmed of +10 % Group EBITDA margin and € 100 m revenue 

(Source: Press Release LHYFE)