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The preliminary calculations show BGN 13.8 million in revenues from the sale of devices for Q1 2021, which is a 91% increase compared to the same period in 2020

April 08, 2021. Sofia – According to preliminary data, Allterco JSCo reports a 91% growth in its revenue from the sale of devices for the first quarter of 2021 on a consolidated basis compared to the same period in 2020, amounting to BGN 13.8 million. The main part of the revenue is formed by the sales of devices from the home automation product series Shelly, showing an increase by 114%. The total number of devices sold by the brand is 610 664 worldwide, of which 594 251 on the European and 16 413 on the USA market. The company is to announce the final data on a consolidated basis for the first quarter of 2021 by the end of May 2021.

In February this year, Allterco Robotics, part of the technology holding Allterco JSCo, presented its revolutionary motion sensor Shelly Motion – the first Wi-Fi sensor with the ability for 24/7 Internet connectivity and battery life of more than 1 year. Less than 24 hours after the official launch of the device, all initially produced 10 000 units were ordered by users around the world, and its unique technology has grabbed the interest of leading global media, such as the Financial Times, TechHive, TechAdvisor, Review Geek, Residential Tech Today, AP, and CEPro, which continues to this day. Along with this success, the technology company continues to expand its portfolio, with the launch of new devices from the Shelly professional series expected soon, as well as new additions to the Plug&Play and the smart lighting categories.

The successful results that were achieved in the first quarter are a continuation of the positive growth trend that the company’s been registering. Earlier this year, Allterco JSCo reported a 94% growth in net profit on a consolidated basis at the end of Q4 2020 compared to 2019, amounting to BGN 13.9 million. 

“The promise we made to ourselves at the end of last year was to continue our hard work and keep on striving for constant development. At the end of the first quarter, I can say that this is exactly what the results demonstrate. Despite the unpredictable conditions in which the global pandemic put us, we continue to prove the sustainability of our business. The increasing number of devices sold worldwide is a proof of the fact that Allterco is becoming more and more confident, and is quickly moving towards becoming a leading factor on the global IoT market” – commented Dimitar Dimitrov, CEO of Allterco JSCo.

The past 2020 was extremely dynamic for the holding and marked by a number of achievements. In the last quarter of the year, Allterco JSCo increased its capital to BGN 17.999.999 with 2.999.999 new shares being subscribed through a public offering at an issue price of BGN 3 per share. The IPO led to significant interest from investors, which continues in this year as well.

An evidence of this was also the company’s entry in the index of the Bulgarian Stock Exchange SOFIX, which happened on March 22, 2021. The inclusion in the prestigious index came only two months after the company announced that it had launched a procedure for listing the shares of Allterco JSCo on the Frankfurt Stock Exchange as well on the basis of the growing investors’ interest.