REG - Eco Buildings Group - Orders Update

Eco BuildingsAnnouncement

16/10/2024 07:00

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RNS Number : 3184I  Eco Buildings Group PLC  16 October 2024

Certain information contained within this Announcement is deemed by the
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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.

 

16 October 2024

Eco Buildings Group plc

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

First order received from the original contract with Egeu Stone Sh.p.K

Orders for landmark Apartment development in Tirana for 26 apartments

Order for one 400 sq metre showhouse to commence development

Eco Buildings Group plc (AIM: ECOB), the UK-listed modular housing company, is
pleased to announce its first confirmed order under the terms of its contract
with Egeu Stone, as initially disclosed at the time of the RTO. This follows
confirmation that the Company's state-of-the-art factory in Albania is now
fully automated, operational and able to satisfy these orders.

 

The order consists of a turn-key solution for twenty-six modular apartments,
each measuring 100 square meters, in a single apartment block in Tirana. The
value of this project to Eco Buildings is estimated to be €3m, this is
expected to be received in 2025. This highlights the strong value proposition
of Eco's high-quality, cost-efficient modular solutions. Under the terms of
the contract, as outlined in the admission document, Eco Buildings will
participate in the project's profit margins alongside the developer, Egeu
Stone which enhances Eco's own profitability. The project will commence with
the wall installation scheduled for the first week of November.

 

In addition, Egeu Stone has confirmed a second order for a 400 square metre
showhouse, to be assembled at Olive Park Residences, a prestigious development
adjacent to Rolling Hills-Tirana's most exclusive residential area. This marks
the first step in providing Eco's innovative modular homes within the Olive
Park complex, further validating the company's growth prospects in premium
markets.   Olive Park Residences Housing Complex
(https://www.google.com/maps/place/Olive+Park+Residences/@41.3032064,19.8464493,17z/data=!3m1!4b1!4m6!3m5!1s0x135031608fd5024f:0x7add72aec526bddd!8m2!3d41.3032064!4d19.8464493!16s%2Fg%2F11s4b1ybh9?hl=en-AL&entry=ttu&g_ep=EgoyMDI0MTAwNy4xIKXMDSoASAFQAw%3D%3D)

 

 

Sanjay Bowry, CEO of Eco Buildings, commented:

 

"We are confident that Eco Buildings offers the highest specification, lowest
cost product on the market. With our fully automated factory now in
production, we can provide prospective customers with both a tangible
demonstration of our cutting-edge product and the assurance of reliable,
scalable supply. We expect this to drive further orders in the near future.

Demand for Eco's modular housing solutions, both within the Balkans and
internationally, continues to reinforce our confidence in the Group's
profitability. Our management team and engineering specialists in Durres
remain focused not only on delivering our growing order book but also on
positioning the company to capture emerging international 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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