Eco Buildings Group turns over first million euros ahead of schedule

(Sharecast News) - Modular housing specialist Eco Buildings Group announced on Wednesday that it surpassed €1m in revenue as of 2 December, achieving the milestone ahead of schedule. The AIM-traded company put the €1,018,368 in revenues down to its operational efficiency and ability to meet customer demand rapidly through its advanced manufacturing facility in Albania.

It added that with rising demand driven by population growth, urbanisation and affordability challenges, its modular housing solutions positioned the company as being able to deliver innovative housing at speed.

"Eco Buildings is pleased to have achieved this significant revenue milestone ahead of schedule," said chief executive officer Sanjay Bowry.

"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 €114m across the next three years, combined with increasing global interest in our innovative solutions, reflects the strength of our business model and market relevance."

Bowry said the company remained focussed on being able to deploy additional manufacturing units, and was confident in its ability to exceed near-term revenue forecasts while expanding its 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."

At 1226 GMT, shares in Eco Buildings Group were up 1.86% at 7.13p.

Reporting by Josh White for Sharecast.com.