EQS-News: Allterco JSCo / Key word(s): Development of Sales/Forecast
Allterco JSCo confirms raised guidance at upper end of range after successful Black Friday and continues international expansion
Sofia / Munich, 5 December 2022 – Allterco JSCo (ticker A4L / ISIN: BG1100003166) (“Allterco”), an international provider of IoT and smart home solutions, recorded an increase in Black Friday sales with more than half a million home automation devices sold for a total of over EUR 6.8 million (BGN 13.2 million), equaling a growth of 44% compared to the previous year. Consumers from over 100 countries around the world took advantage of the special offers and ordered their Shelly devices, with the greatest interest being observed in Germany and Italy, followed by Spain, Portugal, Netherlands, Austria, and Belgium. Here, the targeted increase in investments in sales and R&D structures in the current fiscal year had a noticeable impact. With the successful Black Friday sales, the Company confirms the raised forecast at the upper end of the range with revenues of EUR 45-46 million and EBIT of EUR 10-10.5 million for FY22.
To accelerate its international expansion, Allterco has selected Dublin, Ireland, the global stronghold and talent pool of IT development, as the base for its latest R&D hub. The Company has already been able to recruit experienced senior executives who have demonstrated visionary drive in the realization of the smart home of the future in positions at leading international IT companies. For Allterco, making this leap marks the next milestone in taking product development to a new level.
Dimitar Dimitrov, Co-CEO of Allterco JSCo, commented: “The success of our Black Friday sales across all our geographic markets confirms that we are on the right track with our expansion strategy. With the new development hub in Ireland, we are attracting high-caliber IT specialists to continuously improve the research and development process, thus consistently pursuing our expansion strategy. We are looking forward to the new impulses from this buzzing and dazzling developer scene in Ireland, which is as international as Allterco itself.”
Wolfgang Kirsch, Co-CEO of Allterco JSCo, added: “The course of business in the current fiscal year and the Black Friday sales have highlighted the fact that it is crucial for our success to establish our development structures in line with our market entries. Allterco has customers in all major regions of the world. Our five international locations to date are a sign of our expansion drive, and Dublin is another addition to the list. We are pleased to underline the successes in fiscal 2022 with a confirmation of the raised guidance at its upper end of the range.”
Allterco JSCo is a technology holding company that stands for innovation through the development, manufacture, and distribution of high-quality IoT products. End users and their needs are always at the heart of development. Allterco was founded in Bulgaria and works with a team of young, talented developers who are dedicated to producing competitive and user-friendly products. The Group consists of 5 subsidiary companies and has offices in Bulgaria, China, USA and Germany. Allterco’s products have already conquered over 100 markets. Allterco JSCo has been listed on the Bulgarian Stock Exchange since December 2016 and on the Frankfurt Stock Exchange as of November 2021 where its shares are traded under GSIN A2DGX9, ISIN BG1100003166, ticker A4L.
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