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Modular Construction Segment

UNIHOUSE SA – A PRODUCER OF TIMBER FRAME BUILDINGS AND A GENERAL CONTRACTOR FOR RESIDENTIAL AND COMMERCIAL CONSTRUCTION.

The company’s comprehensive turnkey construction projects are widely applicable and ideal for a wide variety of projects ranging from multi- family buildings to hotels, retirement homes and dormitories. It has a high production capacity of up to 2,000 modules per year, several years of warranty service and is able to ensure perfect repeatability of buildings while maintaining the highest quality of construction.

The company has been consistently carrying out projects in Scandinavian markets for years.

  • In 2021, the main market was Norway, where 4 contracts were completed and further 5 investment projects were started.
  • In contrast, 1 contract was executed for the Swedish market in 2021. The development of this market in 2022 may be facilitated by our participation in the Sveriges Almanyan Kombohus programme, where the first contract for the construction of a building consisting of 112 modules with an area of approximately 3.5 thousand m2 has already been won.
  • The German market, where the company has already signed 5 contracts for the implementation of projects, will certainly be promising. The first building as part of a project consisting in total of four residential buildings for staff of a Stuttgart clinic was already completed in Q4 2021. Production for another contract was also started and a further 3 projects are in the pipeline.

In addition to the German market, the company plans to develop modular construction in Poland in 2022, based on two potential areas. The first one is public procurement, where the company has already carried out three projects for GIS in Gdańsk, participated in tendering procedures for the preparation of the functional and utility programme (FUP) (e.g. residential buildings in Ostrzeszów) and in procedures for the construction of housing estates (e.g. Ogińskiego estate in Gdańsk). The company also cooperates with Polskie Domy Drewniane – the first construction project was completed at the end of 2021 and there are prospects for continued cooperation. The second area is commercial procurement, mainly for hotels from representatives of international hotel chains. In addition to these areas, the Company will implement the first PPP contract for the Municipality of Małkinia Górna.

Unihouse continuously monitors production costs, including fixed costs, and optimises processes in the factory and on construction sites, focusing on achieving the profitability targets in individual projects. The company’s aim is to capitalise on the growing interest in energy-efficient and green construction – this applies to the Scandinavian as well as the German and Polish markets. The company’s portfolio is currently around PLN 346 million.

This is yet another year where the modular construction segment showed an improvement in gross sales profit along with an increase in sales compared to the previous period. Unihouse SA is responsible for running the business. Despite Covid-19 restrictions (border closure by Norway), module production continued as planned in 2021. However, the company continues to incur costs related to the pandemic situation – these relate to the factory, construction and logistics (purchasing, transport) areas.

In the current complex geopolitical situation, Unihouse notices a very high risk of supply chain disruptions, with consequent restrictions in material supply and increases in raw material prices, which will translate into higher prices for transport and strategic materials used in production.

Disrupted supply chains have a very negative impact on productivity and efficiency at the Production Plant. Above-average increases in direct costs are noticeable in the basic cost groups, i.e. wages, materials. The current situation related to the increase in the prices of fossil fuels affects the significant increase in transport costs – Unihouse SA is very sensitive to such increases due to the existing sea transport costs.

Notwithstanding the above, all contracts are currently on schedule.

Thanks to good cooperation with contracting entities we can assume that the notifications submitted for the adjustment of contracts will allow constructive discussions to be held on this subject when the contracts are closed. The company relies on cooperation with proven partners, and works and agrees on product standardisation.

Looking ahead to 2022, it is very important to ensure continuity of production and efficient use of our own resources and capacities – taking into account the needs of investors and the growing awareness of the technology on offer.