France: Hoffmann Green Cement’s consolidated net revenue fell by 19% year-on-year to Euro504,000 in 2020 from Euro620,000 in 2019. Net loss was Euro6.12m, up by 41% from Euro4.34m. Loss in earnings before interest, taxation, depreciation and amortisation (EBITDA) more than doubled to Euro4.13m from Euro1.85m. During the year, the group began construction of its second cement plant, in Vendée, France.
Co-chairs Julien Blanchard and David Hoffman said, “We are happy with what we achieved at Hoffmann Green in 2020, in spite of the pandemic. We signed numerous technical and commercial collaboration contracts with key players in the construction sector such as Groupe GCC, KP1, Cemex and Eiffage Génie Civil, taking our order book to over 190,000t to date.” They reconfirmed the target of a 3% French cement market share by 2025/2026, adding, “The commercial dynamic continues at the beginning of 2021 with the signing of contracts with Ouest Réalisations for the construction of housing, and EdyCem to develop low carbon footprint concretes.”
Blanchard and Hoffmann called 2020 ‘the year of increasing production volumes,’ adding that the group expects on-going and future environmental legislation in all its regions to bolster demand.
