Hoffmann Green Cement Technologies (ALHGR) H1 2025 earnings summary

Executive summary

• Revenue for H1 2025 reached €3.53M, up 7.6–8% year-over-year, driven by a 2.5x (151%) increase in cement volumes sold, surpassing full-year 2024 volumes.

• EBITDA declined to -€5.7M from -€3.1M, reflecting a less favorable sales mix and higher operating expenses.

• Net loss widened to -€8.4M from -€5.2M year-over-year.

• Major strategic partnerships were expanded, supplying over 130 construction sites and delivering 60,000 m³ of concrete via 10,000 mixer trucks.

• Achieved a world-first ASTM C1157 certification for H-UKR cement, enabling US and Saudi market entry.

Financial highlights

• Operating income was -€7.8M, down from -€5.0M in H1 2024, mainly due to increased depreciation and operating costs.

• Cash and equivalents at June 30, 2025, stood at €5.5M, with total liquidity (including placements) down from €16.4M at year-end 2024.

• Equity decreased to €54.0M from €62.5M at December 2024.

• Capital increase of €7.93M and €6M in convertible bonds were completed post-period to strengthen liquidity.

• Bank debt reduced to €9.4M as of June 30, 2025, with a plan to reach near zero by 2028.

Outlook and guidance

• Targeting 1M tons annual production and €150M revenue by 2030, with 6% French market share.

• Plans to operate three production sites in France and six international license agreements by 2030.

• Targeting 50,000 tons of cement sold by end of 2025, with positive EBITDA contingent on new licensing agreements.

• Construction of the H3 plant is scheduled for 2027-2028, with a €25M budget.

• Next financial release scheduled for February 2026.