Hoffmann Green reports 252% increase in sales volumes
Hoffmann Green Cement Technologies has reported revenue of EUR1.676m in the first half of 2023 (ended 30 June 2023), compared to EUR544,000 in the same period a year earlier. EBITDA over the same timeframe advanced from -EUR3.519m to -EUR3.648m, while the company saw a net loss of -EUR3.606m in the 1H23, versus a net loss of -EUR4.558m in the 1H22.
Cement sales volumes over the 1H23 came in at 7338t, up 251.6 per cent YoY, in line with the company’s 2023 target of 24,000t. Historically, the second half of the year sees higher sales, according to the company. It currently has an order book of over 250,000t, up 30,000t thanks to the signing of 11 structuring partnerships and order commitment with major players including VM Matériaux, Belin Promotion, Groupe Alkern, OGIC, GCC, BSS, Groupe Minier, Iribarren, Vendée Habitat, Domofrance and Marne Béton.
“In the first half of 2023, Hoffmann Green was able to significantly increased its cement sales volumes. Thanks to the daily work of all our teams, we are accelerating the marketing of our innovative clinker-free cement in a construction market in demand of truly carbon-free solutions. Considering the seasonality of our sales, we intend to intensify the transformation of our order book into sales during the second half of 2023. We are therefore confident of achieving our 2023 revenue target of marketing 24,000t of cement, representing revenue of more than EUR4.5 million,” said Julien Blanchard and David Hoffmann, co-founders of Hoffmann Green Cement Technologies.
The 1H23 saw Hoffmann commission H2, the world's first vertical cement plant. Built entirely from Hoffmann cements, the plant enables production capacity to be increased by 250,000tpa of cement, in line with the group's ambitions and growing demand. The company has also signed a 22-year licensing agreement in Saudi Arabia with the Shurfah Group to build several vertical H2 units to support the decarbonisation of the country's construction sector. It also announced the signature of a partnership with the Eloy group to develop carbon-free construction in Belgium, in particular for pilot ready-mix concrete and prefabrication applications.
