Hoffmann Green exceeds revenue target for 2023

Hoffmann Green Cement Technologies has reported revenue of EUR6.04m in 2023, far exceeding its target of EUR4.5m, and marking a notable increase from EUR2.2m in the previous year. This is attributed to the increase in cement sales volumes and the signing of the company’s first international licensing contract in Saudi Arabia. EBITDA improved from -EUR6.6m in 2022 to -EUR5.2m the following year, while the company’s net loss increased from -EUR6.7m to -EUR7.9m over the same period. 

Sales volumes for the year came in at 21,300t, up 78 per cent, compared to the 12,010t recorded in the previous year. Its orderbook progressed to 260,000t in 2023, up 20,000t on 2022 thanks to several cement supply contracts with partners including VM Matériaux, Belin Promotion, VENDEE HABITAT and SPIE BATIGNOLLES. 

2023 also saw the opening of the company’s H2 unit, the world’s first vertical cement plant built entirely from Hoffmann cement. From the second half of 2023, this plant has been producing bulk cement to meet growing demand, increasing capacity at the Bournezeau site from 50,000tpa to 300,000tpa. Last year also saw the launch of Hoffmann Green’s R&D concrete plant for the testing and developing go new low-carbon concrete formulations using Hoffmann cements and recycled aggregates. 

In 2023, the company also strengthened its carbon credit offering, corresponding to the CO₂ emissions avoided through the use of zero per cent clinker cements developed by Hoffmann Green. The revenue from the sale of carbon credits amounted to EUR276,000 in 2023. Hoffmann Green currently holds 13,000 carbon credits available for sale.