Building permit obtained for turn-key project with NREP
Investor news
On 16 November 2023, HusCompagniet announced (cf. company announcement 28/2023) a turn-key project with leading Nordic property developer NREP for which a building permit has now been granted for the first stage of 30 semi-detached houses and one communal house.
The contract comprises a total of 135 (initially 164) semi-detached houses and a communal house in Viby Sj. in Roskilde Municipality under NREP’s modern housing concept ‘Plushusene’. After obtaining the building permit for the first stage and the communal house, HusCompagniet expects to obtain building permits for the remaining stages and related road infrastructure.
The contract is expected to generate total revenue at a level of approximately DKK 200 million (initially around DKK 240 million) over the construction period expected to commence in Q1 2025 with expected handover late 2026. The order entry is recognised in Q4 2024.
Wooden frames and roof cassettes for the houses will be manufactured at HusCompagniet’s production facilities, supporting a gold level certification of the project according to the DGNB standard.
The project does not impact HusCompagniet’s 2024 outlook, which is unchanged with revenue expected at DKK 2.3-2.4 billion, EBITDA of DKK 95-115 million, and EBIT of DKK 45-65 million.
For additional information, please contact:
Martin Ravn-Nielsen, Group CEO, +45 51 15 65 16
About HusCompagniet
HusCompagniet is a leading provider of single-family detached houses in Denmark and builds semi-detached houses for private consumers and professional investors. The activities in the semi-detached segment are supported by HusCompagniet Production offering prefabricated wood-framed houses. HusCompagniet also has a presence in Sweden where the Group produces prefabricated wood-framed detached houses through its VårgårdaHus brand.
The Group operates an asset-light and flexible delivery model with on-site building, primarily on customer-owned land. The construction process is outsourced to subcontractors, enabling a flexible cost base.
HusCompagniet has showrooms and showhouses in Denmark and Sweden supplemented by digital sales through the online platform “HusOnline”. HusCompagniet currently has around 400 employees dedicated to maintaining the Group’s industry-leading customer satisfaction level and co-creating the homes of tomorrow – today.