- Revenue multiplied by 2.7 compared with 2022, to €6
million
- Solid growth in sales volumes, with more than 21,300 tons
sold in 2023, up +78% compared to 2022
- Continued strong sales dynamic: revenue and sales volumes
multiplied by 12 in 3 years
- International development: signature of the first licensing
contract in Saudi Arabia with Shurfah Group and preliminary
approval to sign another licensing contract in the United
States
- Industrial deployment on track: H2 unit operational since
summer 2023
- Confirmation of short- and medium-term financial
guidance
Regulatory News:
Hoffmann Green Cement Technologies (ISIN: FR0013451044, Mnemo:
ALHGR) ("Hoffmann Green Cement" or the "Company"), an industrial
player committed to the decarbonation of the construction sector
that designs and markets innovative clinker-free cements, announces
its full-year revenue to 31 December 2023, audited.
Julien BLANCHARD and David HOFFMANN, Co-founders of Hoffmann
Green Cement Technologies, say: "In a construction market that
is still experiencing a slowdown, Hoffmann Green has succeeded in
achieving revenue of €6.0 million, a 2.7 times increase compared
with 2022 revenue, a level of activity higher than the €4.5 million
target set at the beginning of last year. This release also
illustrates the relevance of our positioning, with sales indicators
showing strong growth. 2023 will have been a key year for Hoffmann
Green, with several milestones achieved. On the commercial side,
the strong growth in volumes sold and the numerous strategic
partnerships established with leading players confirm the
attractiveness of our solutions in relation to the decarbonization
challenges facing the construction sector. The successful launch of
H2 in the early summer of 2023 was another of last year's key
events, providing us with the production capacity we need to meet
strong demand. Finally, the signing of our first licensing contract
has validated our international development model. As a result, we
can face the 2024 financial year with confidence, in a regulatory
environment (RE2020 environmental regulations) that will be more
restrictive for traditional cement manufacturers and favorable to
the development of our Company. We therefore confirm all our short-
and medium-term financial guidance."
Exponential sales dynamic: revenue and sales volumes
multiplied by 12 in 3 years
Hoffmann Green's 2023 revenue amount to €6.0 million, a 2.7
times increase compared with 2022. Over the past 3 years, revenue
have multiplied by 12, illustrating the Company's uninterrupted
growth trajectory.
Revenue for 2023 correspond to €4.0 million from the sales of
cements, mainly H-UKR technology, and €2.0 million from the
licensing contract signed with the Saudi Shurfah Group.
In terms of volumes, the Company sold 21,378 tons in 2023, a
level slightly below the target of 24,000 tons, but representing an
increase of +78% compared with the previous financial year. This
represents a 12-fold increase in volumes sold since 2021.
The year 2023 was also shaped by the diversification of the
Company's customer portfolio through the signing of several
partnerships with key players such as Point P, SPIE Batignolles
and, more recently, the group Les Mousquetaires. This latest
agreement includes the distribution of low-carbon cements in more
than 600 stores under the Bricomarché, Bricorama, Brico Cash and
Tridôme brands, targeting the significant individuals market for
the first time.
Overall, the Company has strengthened its order book to more
than 260,000 tons by the end of 2023, an increase of 20,000 tons
over last year.
Accelerating international development and pursuing
industrial deployment
The Company has signed an exclusive 22-year licensing agreement
with Shurfah Group to build several Hoffmann Green units in Saudi
Arabia to contribute to the decarbonization of the country's
construction sector. The signature of this agreement is a
significant step in the Company's international development. In
exchange for the industrial and technological transfer, Hoffmann
Green has received an entry fee of €2.0 million from Shurfah. The
agreement also includes fixed and variable annual royalties based
on sales generated by the commercialization of Hoffmann cements in
Saudi Arabia.
In mid-December, the Company also announced the signature of an
agreement with a US partner establishing the key principles of an
exclusive licensing agreement to build several Hoffmann units in
Florida.
In parallel with the acceleration of its international
development, Hoffmann Green has reached a key milestone in its
industrial roadmap: the launch of H2, the world's first vertical
cement factory. Built entirely from Hoffmann cements, this
structure will increase production capacity by 250,000 tons of
cement per year, in line with the Group's objectives.
Strategy and outlook: short- and medium-term financial
guidance confirmed
Encouraged by its many achievements (commercial development in
France and abroad, pursuing industrial deployment, technological
developments and CSR awards), Hoffmann Green confirms all its
short- and medium-term financial objectives, namely:
- 2024: achieve positive EBITDA ; - 2025:
positive current operating income fto; - 2026: revenue of €130m and
EBITDA margin of 40%.
ABOUT HOFFMANN GREEN CEMENT TECHNOLOGIES
Founded in 2014 and based in Bournezeau (Vendée, Western
France), Hoffmann Green Cement Technologies designs, produces and
distributes innovative extremely low-carbon cements – with a carbon
footprint 5 times lower than traditional cement – that present, at
equivalent dosage and with no alteration to the concrete
manufacturing process, superior performances than traditional
cement.
Hoffmann Green has two production units powered by a fleet of
solar trackers on the Bournezeau site: a 4.0 plant and H2, the
world's first vertical cement plant, which was inaugurated in May
2023. A third plant will be built at the major port of Dunkirk in
2024-2025, bringing total production capacity to 550,000 tonnes a
year, or 3% of the French market. The Group has developed a genuine
technological breakthrough based on the modification of cement
composition and the creation of a cold manufacturing process, 0%
clinker and low energy consumption, making it a leading and unique
player in the cement market, which has not changed for 200
years.
Within the context of the climate emergency and energy price
inflation, Hoffmann Green Cement is thus actively participating in
the energy transition by producing a clean cement that consumes 10
to 15 times less energy than a Portland cement, by working to
create eco-responsible buildings and by encouraging the circular
economy and the preservation of natural resources. Thanks to its
unrivaled technological know-how that is constantly improving,
driven by effective and cutting-edge teams, Hoffmann Green Cement
Technologies addresses all construction sector markets, both in
France and abroad.
Hoffmann Green was chosen as one of the 20 French green
start-ups in 2022 as part of the French Tech Green20 programme, run
by Mission French Tech in partnership with the French Ministry for
Ecological Transition. In June 2023, the company was selected as
part of French Tech 2030, an ambitious new support programme run by
La Mission French Tech alongside the General Secretariat for
Investment (SGPI) and Bpifrance.
The company is continuing to expand internationally, signing
contracts in the UK, Belgium, Switzerland and recently Saudi
Arabia.
For further information, please go to:
www.ciments-hoffmann.com/
View source
version on businesswire.com: https://www.businesswire.com/news/home/20240214383195/en/
Hoffmann Green Jérôme Caron Chief Financial Officer
finances@ciments-hoffmann.fr +33 2 51 460 600
NewCap Investor Relations Thomas Grojean Mathilde Bohin
ciments-hoffmann@newcap.eu +33 1 44 71 94 94
NewCap Financial Media Relations Nicolas Merigeau Antoine
Pacquier ciments-hoffmann@newcap.eu +33 1 44 71 94 98
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