The manufacturer of mirrored houses began to bargain in Funderbeam
Since yesterday, the shares of the Estonian manufacturer of mirror houses ÖÖD Group can be bought and sold through the investment and trading platform Funderbeam. In the past, ÖÖ has raised €1.95 million through Funderbeam.
Founded in 2016 by Andreas Tiigi and his brother Jaak, the ÖÖD Group designs and builds mobile living spaces, offices, skirting boards and other buildings under the ÖÖD Mirror House brand, and the company operates profitably in 21 markets.
“Last year our production capacity doubled to 80 homes per year and this year we plan to more than double our production to 250 homes per year, especially due to strong demand in the US market,” commented Andreas Tiik.
The company's turnover last year was 4 million euros and EBITDA was 808,000 euros. ÖÖD Production and ÖÖ Hotels had particularly strong turnover growth, up 110 percent and 140 percent respectively, Tiik added.
The plan is to increase the group's revenue by at least 50 percent this year and sell at least 50 units in the US.