Hoffmann Green Cement Technologies widens its losses in the first half of 2022 – 09/19/2022 at 11:04


(AOF) – At the end of June 2022, Hoffmann Green Cement Technologies, which produces and markets innovative cements without clinker, recorded a negative Ebitda of 3.5 million euros, against – 2.6 million euros at June 30 2021. This deterioration is linked to the increase in purchases of raw materials for R&D tests and developments (-0.7 million) and the resumption of trade fairs and exhibitions (-0.2 million). The sales, R&D and technical teams have been reinforced according to the development plan. The rest of the operating income and expenses were globally stable over one year.

During the first half of 2022, the company continued its commercial development with an increase of more than 11% in cement volumes sold over one year (2,087 tonnes in the first half of 2022, compared to 1,875 tonnes in the first half of 2021). The company’s income amounts to 0.5 million euros and mainly corresponds to the sale of cement in the amount of 0.4 million euros and the invoicing of engineering services in the amount of 0.1 million euros.

This commercial momentum is less intense than expected due to high inflation and the shortage of building materials that affect players in the sector, general contractors and real estate developers. This unprecedented situation has led to delays in construction sites. The company estimates the average lag time for these projects at between 6 and 12 months.

Current operating profit shows a loss of 4.7 million euros. The deterioration over one year (-€1.1 million) is explained by the change in EBITDA and the increase in depreciation and amortization.

As of June 30, 2022, the financial result amounted to -€1.5 million and was impacted by losses and impairments of UCITS linked to the effects of the war in Ukraine on the financial markets.

After taking into account tax income of 1.6 million euros, the net result at the end of June 2022 is a loss of 4.6 million euros.

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CSR permeates the sector

Unicem created a CSR label in 2018, which met with some success: in concrete, nearly 700 sites, i.e. half of the activity in France, have committed to the approach, as well as 400 sites constituting almost 30% of the turnover of French quarries. This approach encompasses several initiatives such as reducing the carbon footprint of products or improving relations with suppliers. Great efforts have been made in terms of recycling, which now reaches 70% in the sector, compared to about 50% ten years ago, and while it was almost non-existent thirty years ago. However, Unicem would like the public authorities to strengthen their support for this CSR approach through the use of labeled companies.



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