REG - Eco Buildings Group - New Order Update

Eco BuildingsAnnouncement

20/09/2024 07:00

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RNS Number : 9587E  Eco Buildings Group PLC  20 September 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.

20 September 2024

Eco Buildings Group plc

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

New Wall Panel Order for 5,000 sq. metres Received

Multiple Small Dwellings Also Assembled and Sold

Over €1M in Revenues Now Forecast for Year-End 2024

Eco Buildings Group plc (AIM: ECOB), the UK-listed modular housing company, is
pleased to announce that it has received a preliminary order of 5,000 sqm of
walling from R&T Sh.p.K. for installation as a permanent perimeter wall
around a residential tourist site in Albania.

Eco is also in detailed negotiations to provide the buildings making up this
development and expects to be able to provide a further update in the near
term.

In addition, the Company has commenced deliveries of walling material from its
fully operational factory in Albania to its customer who has placed an order
for 25,000 sq. metres as announced last month. The balance of deliveries will
continue over the coming months.

In addition, the Company already executed on three new orders for small
structures which have already been delivered to the customer, with the last
structure currently in final assembly stage. These dwellings include a 40 sqm
single story office, a 25 sqm security guard block and a 120 sqm 2 storey
laboratory currently being completed.

Accordingly, the Board can advise it is expecting to receive over €1,000,000
of revenues from the sale of Eco products between now and year end (being 31
December 2024).

Sanjay Bowry, CEO, Eco Buildings said, "We believe Eco Buildings produces the
highest specification, lowest cost product in the market. Moreover, with the
fully automated factory in full production, we can provide new customers
visiting our factory with both a compelling product to examine and assurance
over the security of supply, which is in turn expected to lead to further
orders.

The demand, both locally in the Balkans and internationally, continues to
reinforce our confidence in the Group's near- and long-term profitability.

Along with our management team and engineering specialists in Durres, we are
focused on not just managing the Group's delivery schedule and growing order
book, but also on how best to position the Company to efficiently capture the
international joint venture opportunities emerging for us, as word spreads of
the Eco housing solution.

We look forward to the future with great optimism, not only to meet near-term
revenue forecasts, but also on leveraging the Company's efficient business
model to realise emerging opportunities."

Further information is available on Eco Buildings
website: www.eco-buildings.net (http://www.eco-buildings.net/)

 

For more information contact:

 Eco Buildings Group plc                               Tel: +44 (0) 207 380 0999

 Sanjay Bowry, Chief Executive Officer

 Fiona Hadfield, Finance Director

 Spark Advisory Partners Limited (Nominated Adviser)   Tel:  +44 (0) 203 368 3550

 Matt Davis / James Keeshan
 Tavira Securities Limited (Broker)                    Tel:  +44 (0) 203 192 1739

 Oliver Stansfield / Jonathan Evans

 

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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