New Order Update

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

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.

 

END