We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Hoffmann Green Cement Technologies | EU:ALHGR | Euronext | Ordinary Share |
Price Change | % Change | Share Price | Bid Price | Offer Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|---|---|
0.35 | 3.04% | 11.85 | 11.45 | 11.85 | 11.85 | 11.45 | 11.55 | 6,603 | 16:40:00 |
Regulatory News:
Hoffmann Green Cement Technologies (ISIN: FR0013451044, Ticker: ALHGR) (“Hoffmann Green Cement” or the “Company”) (Paris:ALHGR), an industrial player committed to the decarbonation of the construction sector that designs and markets innovative clinker-free cements, provides an update on its activities, and announces its 2023 annual results. The Supervisory Board of the Company met on March 14, 2024, and reviewed the 2023 financial statements approved by the Management Board. The audit procedures have been carried out and the audit report on the certification is being issued.
Key elements of the Company’s consolidated annual accounts
€ thousands – IFRS
FY 2023
FY 2022
Revenue
6 041
2 219
EBITDA
-5 170
-6 617
Recurring operating profit/loss (EBIT)
-8 546
-9 358
Financial profit/loss
986
-1 111
Tax
-45
2 626
Net profit/loss
-7 862
-6 739
€ thousands – IFRS
At Dec. 31, 2023
At Dec. 31, 2022
Cash and cash equivalents (including placements)
25 034
42 001
Shareholders’ equity
67 035
74 693
Julien BLANCHARD et David HOFFMANN, co-founders of Hoffmann Green Cement Technologies, commented: "2023 was shaped by significant progress in Hoffmann Green's development. First of all, the growth of our revenue up to €6 million reflects the willingness of the construction industry to decarbonize its activities in the context of increasingly ambitious environmental policies. This paradigm change is necessary to ensure a sustainable and environmentally friendly future with construction projects relying on decarbonized solutions such as those offered by Hoffmann Green. The commercial dynamic of recent quarters has been confirmed by the signature of multiple partnerships with key players in the sector, some of which have reaffirmed their commitment, such as Bouygues Immobilier. In order to meet the growing demand for our decarbonized cement, we inaugurated our H2 production unit at the beginning of summer 2023, a unique plant in the world combining cutting-edge technology, industrial performance and minimal environmental impact. 2023 was also marked by Hoffmann Green's international development, particularly with the signature of a licensing agreement in Saudi Arabia. Hoffmann Green also has a solid financial structure, recently strengthened by an issue of OCEANE, which is slightly dilutive for our shareholders and was carried out under attractive conditions for the Company. The transaction was subscribed by Eiffel Investment Group, a key investor. We look forward to 2024 with confidence, in an increasingly restrictive regulatory environment for traditional cement manufacturers, which should favor Hoffmann Green's growth perspectives."
A 2023 financial year characterised by an acceleration in sales dynamic and industrial deployment in line with the Company roadmap
Strong growth in sales volumes, increase of the order book, and international expansion:
Progress of the implementation of the industrial plan:
Validation of a proactive CSR (Corporate Social Responsibility) policy:
2023 annual results
Hoffmann Green's 2023 revenue is significantly higher than in 2022 (€6.0m vs. €2.2m) and above the initial target of €4.5m. This increase is due to the 78% rise in cement sales volumes (21,377 tons in 2023 vs. 12,010 tons in 2022) and the signature of the first international licensing contract in Saudi Arabia, which gave rise to an entry fee of €2.0m. It should be noted that the marketing of Hoffmann Green carbon credits, which began at the end of 2022, generated €276k in revenue in 2023.
EBITDA for 2023 is -€5.2m, compared with -€6.6m in 2022. The year-on-year improvement of EBITDA (+€1.4m) is mainly explained by the development of the business. It should be noted that Hoffmann Green's workforce has increased from 43 employees at the end of 2022 to 52 employees at the end of 2023 due to the strengthening of the sales and technical teams. Personnel costs increased by €0.7m compared with the previous year.
Recurring Operating Profit amounted to €8.5m. The year-on-year change (+€0.8m) was due to the rise in EBITDA and the increase in depreciation, amortization and provisions (-€0.6m) linked to the launch of the H2 unit and the concrete plant in 2023.
Net financial income for 2023 amounted €1.0m, a significant increase over the previous year (+€2.1m) due to the rise in the market value of OPCVMs (+€1.9m).
Overall, the Net Result for 2023 stands at -€7.9m.
Solid financial structure
As of December 31, 2023, the Company maintains a strong balance sheet with equity amounting to €67.0m, down by €7.7m due to the net result for the year.
The available cash position as of December 31, 2023, stands at €25.0m (including placements). The variation in cash over the period (-€17.0m) is attributed to investment outflows (-€7.6m), mainly related to the construction of the H2 production unit, the construction of the R&D concrete plant, and the rehabilitation of the Hoffmann Microtech site, as well as operating outflows (-€5.m), and loan repayments (-€4.2m).
The Company's financial statements for the year ended 31 December 2023 will be disclosed in the Company's annual financial report, which will be available to shareholders on the Company's website by 30 April 2024 at the latest, in compliance with legal and regulatory requirements.
Post-closing events: continued sales dynamic and recognition of the added value of the Hoffmann Green model
Since January 1st 2024, Hoffmann Green has been pursuing the strong sales dynamic observed in 2023 by signing strategic contracts and extending its existing partnerships:
Furthermore, Hoffmann Green announced the issue of bonds convertible into and/or exchangeable for new or existing shares ("OCEANE") for a nominal amount of approximately €5.0m. This transaction provides the Company with additional financial resources with attractive financial terms for the Company, to support its industrial and commercial strategy while limiting dilution for its shareholders,.
The company has also obtained the Solar Impulse Efficient Solution label for its H-UKR carbon-free cement, and has joined the Bpifrance Excellence Club, two prestigious distinctions that validate the Hoffmann Green model and the added value of its solutions.
Strategy and Outlook: Confirmation of medium-term financial targets
In 2024, the Company will continue to implement its strategic plan, with particular focus on the following priorities:
Confirmation of 2026 targets: €130m revenue and 40% EBITDA margin
The tightening of the regulatory environment, in particular with the introduction in 2025 of the second, more restrictive RE1 2020 threshold, combined with the growing sales dynamic recorded in recent quarters, give the Company confidence that it will be able to achieve its commercial and financial targets.
In France, Hoffmann Green aims to commercialise 550,000 tons of cement per year by 2026 via three production sites, representing sales of around €120 million and a 3% market share in France.
Following the success of its international deployment in 2023, particularly in Saudi Arabia, the Company intends to increase the number of licensing agreements signed with new partners. These partners will be responsible for financing, building and operating Hoffmann H2 units and for producing and commercialising Hoffmann cements in their geographical territory in return for the payment of an entry fee, royalties and the purchase of a pre-formulation from the Company. The Company aims to have 4 operational units by 2026, generating sales of around €10m.
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 operates two production units powered by a solar tracker park on the Bournezeau site: a 4.0 factory and H2, the world's first vertical cement plant inaugurated in May 2023. A third factory will be established at the Grand Port of Dunkirk in 2025, bringing the total production capacity to 550,000 tons per year, representing 3% of the French market. The group has industrialized a genuine technological breakthrough based on modifying cement composition and creating a cold manufacturing process, with 0% clinker and low energy consumption, making it a leading and unique player in the cement market that has not evolved for 200 years.
In a context of climate urgency and energy price inflation, Hoffmann Green Cement actively participates in energy transition by producing clean cement that consumes 10 to 15 times less energy than Portland cement. It also promotes eco-responsible construction and encourages circular economy and natural resource preservation. With its unparalleled and constantly evolving technological expertise, driven by high-performing teams, Hoffmann Green Cement Technologies serves all markets in the construction sector, both in France and internationally.
Hoffmann Green was selected among the 2022 promotion of the top 20 French green startups as part of the French Tech Green20 program, led by the French Tech Mission in partnership with the Ministry of Ecological Transition. In June 2023, the company was selected for French Tech 2030, a new ambitious support program operated by the French Tech Mission alongside the General Secretariat for Investment (SGPI) and Bpifrance.
The company continues its international development with contract signings in the United Kingdom, Belgium, Switzerland, Saudi Arabia and recently in the United States.
For further information, please go to : www.ciments-hoffmann.fr/
1Environmental Reglementation
View source version on businesswire.com: https://www.businesswire.com/news/home/20240318113697/en/
Hoffmann Green Jérôme Caron Chief Financial Officer finances@ciments-hoffmann.fr 02 51 460 600
NewCap Investors Relations Thomas Grojean Alban Dufumier ciments-hoffmann@newcap.eu 01 44 71 94 94
NewCap Financial Media Relations Nicolas Merigeau Antoine Pacquier ciments-hoffmann@newcap.eu 01 44 71 94 98
1 Year Hoffmann Green Cement Te... Chart |
1 Month Hoffmann Green Cement Te... Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions