Hydrogen Refueling Solutions Sa · EURONEXT:ALHRS
Hydrogen Refueling Solutions Sa — H1 2024/2025 Earnings Presentation
32 slides from Hydrogen Refueling Solutions Sa's earnings presentation, Jan 30, 2025
Slide 1: H1 Revenue 2024-2025
2024-2025 H1 REVENUE 30 January 2025 Hassen Rachedi — Chairman and CEO Hydrogen Refueling Solutions Confidential and Proprietary Information 1
Slide 2: Disclaimer
DISCLAIMER This presentation was prepared by HYDROGEN-REFUELING-SOLUTIONS (the "Company") for the sole purpose of being used at investor presentations. By receiving this presentation and attending this meeting, you acknowledge yourself to be acquainted with the following restrictions. This presentat
Slide 3: HRS Strategic Vision
HRS STRATEGIC VISION BECOME WORLD LEADER IN HYDROGEN STATIONS GLOBAL BUSINESS PRODUCT INNOVATION SERVICES International expansion in Large capacity modular After-sales contracts to USA and Middle East stations ensure performance Unique test zone Strong position in Europe Recurring revenue High flow
Slide 4: HRS Stations Map
HRS STATIONS MAP Yorkshire - HRS14 61 STATIONS Athis-Mons - HRS14 Dunkerque - HRS14 Buc - HRS14 Dartford - HRS14 3 28 INSTALLED STATIONS Bercy - HRS14 Ulm - HRS14 2 Issy Les Moulineaux - HRS14 33 FUTURE INSTALLATIONS Carquefou - HRS14 4 8 6 Aubenas - HRS14 2 Lorient - HRS14 Saint Priest - HRS14 Vann
Slide 5: Operational Stations with Increasing Use
OPERATIONAL STATIONS with increasing use SINCE 2022 Last month 2024 118t 8.6t STATIONS RANKING DELIVERED HRS14 DELIVERED HYDROGEN HYDROGEN PLUG POWER UK 31.12.24 20.4t H2 HRS14 PLUG POWER FR 17.4t H2 141 000 6.6k HRS14 SYDEV Vendée REFUELED 12.1t H2 REFUELED VEHICLES VEHICLES 31.12.24 30.01.25 Hydro
Slide 6: 1H 2024-2025 Revenue
1H 2024-2025 REVENUE Kader Hidra, CFO Hydrogen Refueling Solutions Confidential and Proprietary Information 6
Slide 7: Half-Year 2024/2025 Sales: Key Figures
HALF-YEAR 2024/2025 SALES: KEY FIGURES €11.8M FIRST SEMESTER ORDERS INTAKE OF WHICH 33% INTERNATIONAL 1H 24/25 GROSS REVENUE1 SHOWING GROWTH OF 16% €14.9M VERSUS 12.8M IN 1H 23/24 €7.4M SALES2 UNDER IFRS NORMS FOR 1H 24/25 ON DEPRIORITIZED STATIONS +180% MAINTENANCE REVENUES UP 180% WITH AVERAGE STA
Slide 8: Revenue Impacted by Cash Inflows Optimization
HALF-YEAR 2024/2025 SALES REVENUE IMPACTED BY CASH INFLOWS OPTIMIZATION Negative revenue on deprioritized 7 stations Revenue recognition impacted by two GROSS REVENUE1 negative effects with positive cash effects on 1H working capital: 2024/2025 2 canceled IFRS orders REVENUE2 o -2.3M€: 2 stations ca
Slide 9: Half-Year 2024/2025 Sales
HALF-YEAR 2024/2025 SALES 1H 2023/2024 1H 2024/2025 1H 2024/2025 K€ – unaudited accounts ADJUSTMENTS IFRS SALES GROSS SALES1 IFRS SALES2 REVENUE 12 835 14 902 - 7 538 7 364 O/W HYDROGEN STATIONS & 10 913 14 049 - 7 538 6 511 MAINTENANCE O/W INDUSTRIAL PIPING 1 922 852 - 852 1. Revenue before correct
Slide 10: Orders Backlog and 2024/2025 Targets
ORDERS BACKLOG 2024/2025 TARGETS As of 31 December 2024 Gross revenue* IFRS €30-40M Revenue Operator €20-30M 23% To be invoiced Revenue 46% €25M Order backlog €47.6M Logistics 4% Utilities 06/24 06/25e 06/25e 27% *Revenue before correction of work-in-progress on deprioritized and cancelled stations.
Slide 11: 2024/2026 Revenue Growth Targets
2024/2026 REVENUE GROWTH TARGETS Revenue > €85M Orders put in production: 19.6M€ left to be Revenue recognized growth with current EBIT >0 Stations Gross Revenue IFRS Industrial piping engineering Revenue Revenue €30-40M Revenue Estimations €30M €25M €20-30M Revenue €17M Revenue €26.6M €21.8M Revenu
Slide 12: Continued Focus on Cash Generation and Cost Control
CONTINUED FOCUS ON CASH GENERATION AND COST CONTROL MEASURES BETTER CASH GENERATION OPTIMIZED WORKING CAPITAL o Priority given to new orders and short-term REQUIREMENTS & CASH installations CONVERSION o Capex cycle completed OPERATIONAL EFFICIENCY o Controlled and stabilized hiring: staff has HRS OP
Slide 13: Maintenance Revenues Up 180%
MAINTENANCE REVENUES UP 180% STATIONS MAINTENANCE o 16 stations under contract o Average station availability rate of more than 95% Growing Revenue Revenue 0.5M€ Simulation: Assuming 300 HRS stations installed by 2035 Revenue 0.3M€ horizon, annual maintenance services could generate Revenue 0.2M€ €4
Slide 14: Financial Key Takeaways
FINANCIAL KEY TAKEAWAYS H1 GROSS REVENUE1: 14.9 M€ 2024-2025 GROSS REVENUE H1 IFRS REVENUE2: 7.4 M€ 30-40 M€ PRIORITY TO CASH GENERATION 2024-2025 IFRS REVENUE Costs control measures Working capital optimization 20-30 M€ DIVERSIFIED REVENUE ORDER BOOK International growth Maintenance growth 47.6 M€
Slide 15: Hydrogen Market
HYDROGEN MARKET Hydrogen Refueling Solutions Confidential and Proprietary Information 15
Slide 16: Hydrogen Market
HYDROGEN MARKET USA Lien avec un remplissage uni Lien avec un remplissage uni EUROPE IRA: $50b to produce 3Mt clean H2/y Private/public AFIR ~650 stations Lien avec un remplissage uni $750M for 52 projects | April 24 Public 1-ton/day hydrogen station every 200 km $7b for 7 clean H2 hubs | Oct 23 on
Slide 17: 1H 2024/2025 Business Highlights
A white house with a black background Description automatically generated 1H 2024/2025 BUSINESS HIGHLIGHTS Olivier Dhez, Deputy CEO Hydrogen Refueling Solutions Confidential and Proprietary Information 17
Slide 18: 1H 2024/2025 Commercial Highlight: 9 Stations
1H 2024/2025 COMMERCIAL HIGHLIGHT Received orders 9 STATIONS 1 HRS14 Station ordered Sep 24 | *undisclosed* 1 HRS14 Station ordered Dec 24 | ALBI 1 HRS14 Station ordered Sept 24 | Element 2 4 HRS14 Station ordered Dec 24 | Hympulsion 1 HRS14 Station ordered Oct 24| Hychem 1 HRS14 Station ordered Dec
Slide 19: HRS14 Ordered from Italian Customer
A white house with a black HRS14 ORDERED background Description automatically generated FROM ITALIAN CUSTOMER UNDISCLOSED INDUSTRIAL CUSTOMER T HR S ST A TI S ON FIR IN I TA LY + 1 HRS14 Station ordered Benefit from Italian energy transition support program 30.01.25 Hydrogen Refueling Solutions Conf
Slide 20: HRS14 Ordered from UK Customer
A white house with a black HRS14 ORDERED background Description automatically generated FROM UK CUSTOMER 1ST LARGE-SCALE NATIONAL HYDROGEN BL T PU IC H REFUELING STATION NETWORK IN THE UK RS RS FI AT ST UK IO N IN T HE + 1 HRS14 Station ordered Green hydrogen refueling of commercial vans, passenger
Slide 21: HRS14 Ordered from Portuguese Industrial Key Player
A white house with a black HRS14 ORDERED background Description automatically generated FROM PORTUGUESE INDUSTRIAL KEY PLAYER IN GREEN H2 PRODUCTION SPECIALIST IN HYDROGEN CHEMISTRY + 1 HRS14 Station ordered HR S ST L L AT A TA I To address H2 cars and heavy vehicles T S O TI IN S N for public and p
Slide 22: ALBI Selects HRS for European Center for Decarbonized Mobility
A white house with a black ALBI SELECTS HRS FOR THE background Description automatically generated EUROPEAN CENTER DEDICATED TO DECARBONIZED MOBILITY URBAN COMMUNITY OF ALBIGEOIS, FRANCE + 1 HRS14 station ordered Educational station for real-life testings and trainings 30.01.25 Hydrogen Refueling So
Slide 23: Selected for Large-Scale Projects
A white house with a black background Description automatically generated SELECTED FOR LARGE-SCALE PROJECTS 4 4 ZEV: ZERO EMISSION VALLEY HRS stations Largest green hydrogen stations project in France + HRS14 stations ordered already installed HRS14 – St Priest HRS40 – St Exupéry HRS14x2 – Venissieu
Slide 24: HRS14 Ordered for Kourou Space Center
A white house with a black HRS14 ORDERED FOR THE 1ST HYDROGEN VEHICLE REFUELING STATION AT background Description automatically generated THE KOUROU SPACE CENTER IN FRENCH GUIANA GREENTECH STARTUP SPECIALIZED S ST HR A IN RENEWABLE ENERGY T TI S ON FIR O VE S RSEA + 1 HRS14 station ordered Green hyd
Slide 25: 1H 2024/2025 Operational Highlights
A white house with a black background Description automatically generated 1H 2024/2025 OPERATIONAL HIGHLIGHTS Olivier Dhez, Deputy CEO Hydrogen Refueling Solutions Confidential and Proprietary Information 25
Slide 26: Strategic Asset for the Future: AFIR Compliant Stations
SEPT - DEC 2024: STRATEGIC ASSET FOR THE FUTURE 4 AFIR COMPLIANT’ STATIONS simultaneous INSTALLATIONS 0 HRS40 solutions 4 Malataverne 2 1 3 40 350 bar kg/h 700 bar 5 0 Inlet module 1 Compression (MP) 6 2 Storage (MP) 3 Compression (HP) 4 Storage (HP) SIMULTANEOUS RELIABILITY & EVOLUTIVE STATION 5 Co
Slide 27: HRS' Strategy: A Step Ahead of the Market
HRS’ STRATEGY A step ahead of the market TOWARD VERY HIGH FLOW HEAVY DUTY MOBILITY HIGH-CAPACITY STATION TEST AREA UNIQUE IN EUROPE VERY HIGH FLOW ACHIEVED! REAL-LIFE CONDITIONS 160g H2/s at 700bar with RHeaDHy: • H70HF • Dual H70MF (Twin Nozzle) HEAVY MOBILITY 700 BAR REFUELING ON ALL HRS DESIGN Ta
Slide 28: Twin Mid-Flow Technology
TWIN MID-FLOW TECHNOLOGY Refueling in 8 to 13 min 6 kg/ min 50 - 80 kg Refueling in 2 to 5 min 2* 3 kg 700 bar MF /min single and twin Currently operational 5 - 15 in Asia kg Work to include in the ISO standard in progress 30.01.25 Hydrogen Refueling Solutions Confidential and Proprietary Informatio
Slide 29: Strategic Asset for the Future: A Step Ahead
STRATEGIC ASSET FOR THE FUTURE A step ahead of the market validation of new refueling protocols for 700bar, 100kg in 10 minutes. 2025 2026 BY 2026: 700 bar HF 10 kg/ min SAEJ2601-5 70-100 ISO19885-3 kg RHEADHY project has received funding from the Clean Hydrogen Partnership under grant agreement No
Slide 30: European Projects
EUROPEAN PROJECTS reduced energy Bladder compression system HF capacity Application 1: Large vehicle refueling Application 2: Tube trailers direct filling 350 bar refueling x5 Compression capacity H2REF-DEMO project has received funding from the Clean Hydrogen Partnership under grant agreement No 10
Slide 31: Filling Center & Export Trailer
FILLING CENTER & EXPORT TRAILER Last development 1 to 4 tons 200 to 500 H2 / day bar SOLUTION PROVEN & FOR INDUSTRY SAFE DESIGN Meets the needs of logistics ISO 14687 Trailer type I to IV EN 17124 compliance EVOLUTIVE STATION Compatible with every HRS hydrogen stations HRS14 | HRS40 | HRS80 30.01.25
Slide 32: Next Financial Communications Milestone in 2025
A white house with a black background Description automatically generated NEXT FINANCIAL COMMUNICATIONS MILESTONE IN 2025 24 APRIL 2025 H1 2024/2025 RESULTS 30.01.25 Hydrogen Refueling Solutions Confidential and Proprietary Information 32
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