Balco solves overcrowding with groundbreaking product
By combining its knowledge of the market and its focus on innovation, Balco Group has developed a new product that solves overcrowding in apartment buildings. The product goes by the name Balco® Living and is primarily developed for the renovation segment - a market where Balco sees great potential.
Balco Living means that an insulated and openable glazing system is added to the outside of the property together with concrete slabs from Balco. After completion of construction, each apartment in the property has been given a heated, integrated new living space of approximately 20 square meters. An extra room is created, with the goal that the total energy consumption can be kept unchanged at up to 20 percent increase in living space.
The solution, which is both cost-effective and aesthetically pleasing, is primarily aimed at tenant-owner associations, publicly owned companies, private landlords and contractors who convert office properties into homes. The low price per square meter of 25,000 SEK in combination with Balco's advantageous financing solution makes Balco Living a very interesting alternative to a conventional extension. The product is not only a response to overcrowding but also generates an increase in the value of the property / home and gives vulnerable residential areas an opportunity for upgrading and status increase.
– Balco will continue to be a company that focuses on balconies and complete facade solutions where we contribute to the green transformation of buildings. Balco Living is a complement that gives our customers the opportunity to choose between a new balcony and an extra room. We see it as extremely exciting and an opportunity to be involved and solve the problem of overcrowding. We believe that the product can become a significant part of our sales in three years' time, says Kenneth Lundahl, President and CEO of Balco Group.
Balco Living's impact on sales and earnings is not included when Balco Group announced its new financial targets in early January 2022.
For more information, please contact:
Kenneth Lundahl, President and CEO
Tel: +46 70 630 20 57
kenneth.lundahl@balco.se
Michael Grindborn, CFO and Head of IR
Tel: +46 70 670 18 48
michael.grindborn@balco.se
Balco is a growth company offering high quality, innovative, patented and energy-saving balcony solutions. The company’s customised products contribute to enhanced quality of life, security and an increase in value for residents of multi-family residential properties. Through a decentralized and efficient sales process, Balco has control over the entire value chain – from production to delivery. The company, which was founded in Växjö in 1987 and which has appr. 500 employees, is a market leader in the Nordic region, and operates on several markets in northern Europe. Sales in 2020 amounted to SEK 1,200 M. Balco’s shares are listed on the Nasdaq Stockholm Stock Exchange.