The technology holding registered impressive annual financial results during the past challenging year
Video with the financial results of the company – https://bit.ly/3em5937
March 9, 2021. Sofia – Allterco JSCo reported 94% growth in its net profit on a consolidated basis for 2020 compared to 2019, amounting to BGN 13.9 million. At the end of last year, the holding also registered consolidated sales revenues in the amount of BGN 46.8 million with a 91% increase in sales revenues of IoT devices, worth BGN 40.2 million. The results are based on the company’s reports for Q4 2020, which reflect the financial information from the beginning of 2020. The impressive financial results come against the background of an extremely successful year for the company, during which it realized a capital increase of BGN 2.999.999 million
“For us, the achieved results fully justify the work and the efforts that were invested in the unpredictable environment in 2020. They are a proof of the potential and the sustainability of our business, as well as of the efficiency of its management. The financial expression of success is important, but it is not everything. Behind it are the trust of our consumers and partners, as well as the constant pursuit of development and improvement” – 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. Within minutes after the opening of trading, over 80% of the rights for the new issue of shares of the holding were traded on the BSE, and the closing price reached BGN 6.95 per share as of 30.12.2020 or in other words – an 80% increase compared to the closing price at the end of 2019. Only a few months later the interest of investors in the company continues to grow, as the share price reached levels of BGN 9.30 (closing price on the Bulgarian Stock Exchange as of 08.03.2021, source https://www.bse-sofia.bg/bg/issuer-profile/A4L)
Last year, Allterco Robotics also strengthened its leading position in the sector of home automation products. The company, which is part of the holding and is the one behind the popular smart devices brands MyKi and Shelly, registered record sales in 2020 – over 1.6 million products sold in over 100 countries around the world, while constantly developing and adding new innovative devices to its portfolio. Just a month ago, it introduced its latest innovative product – Shelly Motion, which is the first Wi-Fi sensor with the ability to be permanently connected to the Internet. According to the company, every 20 seconds a Shelly device is activated somewhere across the globe.
Please find the corporate video presenting the company’s financial results here.
