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
2nd 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: +44 (0) 207 380 0999
|
|
Spark Advisory Partners Limited (Nominated
Adviser)
Matt Davis / James
Keeshan
|
Tel: +44 (0) 203 368 3550
|
|
Tavira Securities Limited (Broker)
Oliver Stansfield / Jonathan
Evans
|
Tel: +44 (0) 203 192
1739
|
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.