Eco Buildings Group PLC €1M in Revenues now achieved as of 2 December 2024

RNS Number : 6777O

Eco Buildings Group PLC

04 December 2024

 

Certain information contained within this Announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ("MAR") as applied in the United Kingdom. Upon publication of this Announcement, this information is now considered to be in the public domain.

4th December 2024

Eco Buildings Group plc

(the "Company", "Eco" or the "Group")

€1M in Revenues now achieved as of 2^nd December 2024

Revenue Milestone achieved and Delivering Solutions to the Global Housing Crisis

 

Eco Buildings Group plc ("Eco" or the "Group"), a leader in modular housing solutions, is pleased to announce that it has achieved revenues of €1,018,368 as of 2nd December 2024, delivering on its commitments announced on 20 September 2024, ahead of schedule.

 

This achievement reflects the Group's operational efficiency, fulfilling customer orders from its state-of-the-art manufacturing facility in Albania faster than anticipated. Eco's ability to deliver underscores its position as a trusted solution provider to the escalating global housing crisis. As housing demand continues to rise, driven by population growth, urbanization, and affordability challenges, Eco Buildings is proving its ability to deliver scalable, sustainable, and cost-efficient solutions.

 

Sanjay Bowry, Chief Executive Officer of Eco Buildings Group plc, commented:

"Eco Buildings is pleased to have achieved this significant revenue milestone ahead of schedule. This position is a testament to our team's dedication, the efficiency of our operations, and our commitment to addressing one of the world's most pressing challenges: the shortage of affordable, quality housing.

 

Our current order book, valued at over €114 million across the next three years, combined with increasing global interest in our innovative solutions, reflects the strength of our business model and market relevance. We remain focused on being able to deploy additional manufacturing units and are confident in our ability to exceed near-term revenue forecasts while expanding our footprint in both existing and new markets. Eco Buildings is not just fulfilling its commitments; it is setting a benchmark in providing sustainable housing solutions globally."

 

This achievement strengthens Eco Buildings' reputation as a leader in modular housing, leveraging cutting-edge prefabrication technology to address the critical need for faster, more affordable, and environmentally sustainable construction solutions worldwide".

 

About Eco Buildings Group plc:

Eco Buildings is at the forefront of modular construction technology, utilizing Glass Fibre Reinforced Gypsum (GFRG)  materials to create versatile, sustainable housing solutions. With a proven track record since 2006, the Group's innovative housing products address the growing global housing deficit by combining cost-efficiency, speed, and environmental sustainability, serving both affordable and high-end markets.

 

Investor Assurance:

This announcement contains information deemed to constitute inside information under Article 7 of the Market Abuse Regulation (EU) No. 596/2014 as incorporated into UK law. Upon publication, this information is considered to be in the public domain.

 

 

Contact Information:

Further information is available on Eco Buildings website: www.eco-buildings.net

 

 

 

For more information contact:

Eco Buildings Group plc Sanjay Bowry, Chief Executive Officer Fiona Hadfield, Finance Director	Tel: [phone]
Spark Advisory Partners Limited (Nominated Adviser) Matt Davis / James Keeshan	Tel:  [phone]
Tavira Securities Limited (Broker) Oliver Stansfield / Jonathan Evans	Tel:  [phone]

 

Notes

The Company has acquired proven and innovative prefabricated technology which has been in development and commercial use since 2006. Eco Buildings' range of prefabricated, green housing products based on glass fibre reinforced gypsum panels ("GFRG") provides a construction solution for both affordable and high-end housing.

Eco Buildings has already secured two sales contracts with major construction companies, one in Albania, the other in Kosovo, which are expected to generate gross sales revenue of approximately up to €38 million in total per annum over the first three years (approximately €114 million in total) following Admission.

The market share for factory-based building technology is expected to grow significantly over the coming years as private developers and the public sector seek to address the substantial and growing deficit in housing stock and issues of construction cost, speed and quality and housing affordability.

 

 

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