Lhyfe (LHYFE) H2 2025 earnings summary

Executive summary

• 2025 revenue doubled to approximately €10m, in line with guidance, driven by expanded customer base and increased deliveries across Europe.

• Over 55 customers supplied in 2025, with new multi-year offtake contracts in France, Germany, and the Netherlands.

• More than 850 hydrogen deliveries made in 2025, up 80% year-over-year, leveraging a fleet of 80+ hydrogen tube trailers in 9 countries.

• Strategic refocus on core engineering, outsourcing EPC activities, and prioritizing mature European markets.

Financial highlights

• 2025 revenue reached €9.8m, nearly double the €5.1m reported in 2024.

• Growth attributed to higher business volume and new customer contracts, with significant contributions from Buléon and Bessières sites.

Outlook and guidance

• 30% cost reduction plan to begin in 2026, including targeted resource allocation and workforce reductions.

• Continued ramp-up of commercial operations at new and existing sites, with further growth expected in 2026 and 2027.

• Impacts of reorganization and 2026 roadmap to be detailed with FY 2025 results in March 2026.