(AOF) – Hoffmann Green Cement Technologies has announced the launch of a capital increase with cancellation of shareholders’ preferential subscription rights by way of a public offer and with a priority period, on an irreducible basis only, for its existing shareholders , and a global offer, covering a maximum number of 1,000,000 new shares to be issued, i.e. a maximum amount of € 25 million based on the maximum price of € 25 per share as set by the Management Board of the Company on November 19, 2021.
The final number of New Shares to be issued as well as the Offer Price will be set at the closing of the Global Placement, scheduled for November 30, 2021.
The cement company plans to use the funds that will be raised to finance the launch of its international development (up to 65% of the maximum estimated net income, or around 15.7 million euros, as well as for the acceleration of its development in France (35% of the estimated maximum net income, or around 8.5 million euros).
Thanks to these developments, the company now anticipates a turnover by 2026 of 130 million euros, or 10 million more than what was stated during the presentation of the 2021 half-year results.
The recruitments, which should be carried out from the end of 2021 to allow these developments, will weigh on Hoffmann’s expenses and should lead to a two-year postponement of profitability targets. Thus, the EBITDA is expected in the worm from 2024 (instead of 2022 announced), and the ROC should be positive from 2025 (instead of 2023). The objective of 40% margin on EBITDA by 2026 is however unchanged.
In addition, by 2030, Hoffmann Green aims to build 15 to 20 additional production units by future international partners, likely to generate license fees of around 30 million euros per year.
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