Hoffmann Green Publishes 2023 Results Exceeding Expectations and Confirms Its Guidance

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."