- Sales in 2024 double to €13.2m compared with 2023
- Key milestones achieved in international
development
- Significant improvement of the profitability profile: EBITDA
2024 estimated to break even1
- Optimization of H2 production capacity to more than 400 K
tons per year vs. 250 K tons reflecting the expertise and
engineering skills of the Company
- Acceleration of commercial momentum and industrial
deployment: solid outlook for development by 2030
- Appointment of Pierre-Emmanuel Favre as Chief Financial
Officer
Regulatory News:
Hoffmann Green Cement Technologies (ISIN: FR0013451044, Ticker:
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, today
announces its full-year revenue to 31 December 2024 and presents an
update on its activities.
Julien BLANCHARD and David HOFFMANN, Co-founders of Hoffmann
Green Cement Technologies, say: “Despite a stagnant national
construction market, Hoffmann Green has achieved a historic 2024
financial year, doubling its revenue, reaching an estimated EBITDA
break-even for the first time since the company was founded, and
the signing of numerous partnerships, particularly as part of our
international development. This publication confirms the relevance
of our model, which combines the commercialization of our solutions
through distribution partnerships with key national players
targeting specific markets, and international development based on
a licensing company model with contracts signed with international
partners.
Another key milestone was the recent assessment of our H2
plant’s production capacity by a bailiff. Operating continuously in
a three-shift system, the plant could reach more than 400,000 tons
per year, depending on the cement formulas produced. With optimized
production capabilities and early signs of market recovery at the
national level, Hoffmann Green intends to accelerate its commercial
and industrial development plan, announcing new ambitious
objectives for 2030.”
Strong commercial performance in 2024: doubling the annual
revenue
In 2024, Hoffmann Green reported revenue of €13.2 million,
doubling the revenue generated a year earlier. Despite a flat
French construction market since 2022, this strong increase
confirms the relevance of the Company's development strategy. It is
structured around two complementary growth drivers:
commercialization through distribution partnerships with key
national players, and an international development model in the
form of a licensing company through the signing of contracts with
strategic partners abroad.
Revenues for 2024 correspond to the sale of cements, amounting
to €2.8 million, and to the entry fees recorded under licensing
agreements signed with several international partners, amounting to
€10.5 million.
Signing of strategic distribution partnerships and
diversification of targeted markets
In 2024, the Company sold 16,269 tons in a French construction
market still deteriorated. In addition, some significant projects
have been postponed to the beginning of the 2025 fiscal year. The
first quarter of 2025 is showing a certain dynamism as the level of
activity is already expected to be close to that recorded for the
entire 1st half of 2024.
In 2024, the Company expanded its distribution network by
signing new strategic partnerships, particularly with the brands of
the Les Mousquetaires Group (Bricomarché, Bricorama, Brico Cash).
In addition, Hoffmann Green, historically focused on the housing
construction market segment, has diversified its offering to target
new markets. During the 2024 financial year, the Company addressed
several growth sectors such as renewable energies (wind and
photovoltaic), outdoor landscaping, underground networks and waste
treatment. This diversification of activity enables the company to
benefit from promising prospects and a full-year effect as soon as
2025.
Acceleration of international development through the
licensing company model
The 2024 revenue is mainly driven by income from licensing
agreements abroad, reflecting the acceleration of Hoffmann Green's
international development in recent periods. This positive momentum
enables the Company to achieve, two years ahead of its guidance,
its target of €10 million in international revenue and four
licensed sites by 2026.
Key strategic milestones were reached during the year,
demonstrating the growing global appeal of Hoffmann Green's
carbon-free solutions:
- Continued development in Saudi Arabia, with the launch
of construction of H-KSA 1, the first Hoffmann unit in the country
near Jeddah;
- Signing of a major licensing agreement in the United
States, generating upfront fees of up to 20 million euros, of
which 10 million euros have already been recognized in 2024;
- Signature of a licensing agreement in the United Kingdom and
Ireland with Cemblend Ltd, a long-standing partner of Hoffmann
Green, providing for up to 2 million euros in entry fees, including
500,000 euros already invoiced in 2024.
Significant improvement in the company's profitability
profile: EBITDA 2024 estimated to break even
Thanks to the strengthening of its development strategy focused
on two complementary growth drivers combined with disciplined
management of its cost structure, Hoffmann Green should achieve a
near-break-even EBITDA in 2024, significantly improving the
Company's financial performance.
Optimization of H2 production capacity to more than 400 K
tons per year vs. 250 K tons, validating Hoffmann's engineering
expertise and industrial innovation
Hoffmann Green has just reached a new milestone in its
industrial development by optimizing the capacity of its H2
production site in a continuous operation configuration (“3x8”).
Over the course of 24 hours, the site has produced 1 250 tons.
Certified by a bailiff, the H2 site is now capable of reaching an
annual production of 400,000 tons, depending on the cement formulas
produced, an increase of +60% compared to its current capacity in
“2x8” shifts.
This progress is a testament to Hoffmann Green's know-how and
expertise in the design of efficient and innovative production
sites. In addition, the increase in the company's production
capacity enables it to meet growing demand at a time when the
national market is showing signs of recovery, while optimizing its
infrastructure and cash flow.
Acceleration of commercial dynamics and industrial
deployment: solid development outlook by 2030
Driven by the momentum of the 2024 year and with its extensive
production capacities, the Company is adjusting its strategic
roadmap and announcing new development targets for 2030.
- Industrial deployment: construction of H3 by 2027-2028 in
the Rhône-Alpes region
- In order to optimize its logistics flows, particularly to the
Middle East but also to its Swiss partner, the Company has decided
to acquire a new production site located on the banks of the Rhône.
This region, which is not yet being marketed by the Company, will
also enable it to benefit from significant time savings related to
maritime transport. As a reminder, the H3 site initially planned in
Dunkirk did not require any investment from the Company.
- Target production of around 1,000,000 tons by 2030 combining
the 3 sites (H1, H2, H3)
- Following the successful optimization of the production
capacities of the H2 site to more than 400,000 tons per year,
depending on the cement formulas produced, the Company is aiming
for an annual production of around 1 million tons by 2030. This
increased capacity will enable us to meet the demand of the French
market for Hoffmann Cements, while supplying international partners
with premix. The Company will thus be able to absorb the increase
in its order book over the coming quarters;
- Acceleration of commercial growth in France and
internationally: €150 million revenue by 2030
- Hoffmann Green aims to accelerate its development at the
national level by signing new distribution partnerships, but also
at the international level by capitalizing on its licensing company
model. By 2030, the Company aims to sign 5 additional licensing
agreements along the lines of those recently signed, including:
payment of an entry fee, payment of annual royalties and the sale
of premix to partners;
- R&D: 6 approved 0% clinker cements based on multiple
industrial co-products
- Hoffmann Green intends to maintain and strengthen its
technological leadership by 2030 by capitalizing on the investments
made in R&D in recent years.
Appointment of Pierre-Emmanuel Favre as Administrative and
Financial Director to support the new phase of development of
Hoffmann Green
Hoffmann Green announces the appointment of Pierre-Emmanuel
Favre as Administrative and Financial Director, succeeding Jérôme
Caron, who is leaving the Company to pursue other professional
opportunities outside the Group. Julien Blanchard, David Hoffmann
and all the members of the Supervisory Board would like to warmly
thank Jérôme for his contribution and involvement over the past 6
years.
Graduated from ESSCA and with an MBA in Strategic Management and
Economic Intelligence from EGE (Ecole de Guerre Economique),
Pierre-Emmanuel Favre also holds a DSCG (Diplôme Supérieur de
Comptabilité et de Gestion) and a DECF (Diplôme d'Etudes Comptables
et Financières). With more than 20 years' experience as CFO,
Pierre-Emmanuel has worked in a wide variety of sectors: software
services, industry and logistics. His expertise in financial
structuring, fund-raising, external growth and EBITDA optimization,
developed in particular at MPO International, Explore and iRaiser,
gives him invaluable strategic and operational expertise. His
technical skills and international experience will also be key
assets in supporting Hoffmann Green in its new phase of development
and strengthening its financial performance.
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 built in the Rhône-Alpes region with
construction scheduled for 2027-2028 to bring the Group's total
production capacity to around 1,000,000 tons per year. 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 0% clinker 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 through a
licensing company model with contract signings in the United
Kingdom and Ireland, Saudi Arabia and in the United States.
For further information, please go to :
www.ciments-hoffmann.fr/
1 Unaudited accounts
View source
version on businesswire.com: https://www.businesswire.com/news/home/20250211107650/en/
Hoffmann Green Pierre-Emmanuel Favre 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
ciments-hoffmann@newcap.eu 01 44 71 94 98
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