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Allterco JSCo announces preliminary sales revenues H1 2022

Allterco JSCo / Key word(s): Preliminary Results/Half Year Results
Allterco JSCo announces preliminary sales revenues H1 2022

13-Jul-2022 / 09:30 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP – a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.

Publication of inside information according to Article 17 MAR

Allterco JSCo announces preliminary sales revenues H1 2022

Sofia / Munich, 13 July 2022 – Allterco JSCo (ticker A4L / ISIN: BG1100003166) (“Allterco”), a provider of IoT and smart home products based in Sofia, Bulgaria, announces a 37.1%* year-on-year increase in IoT revenue from sales of devices and related services to BGN 35.9 million (EUR 18.3 million) in H1 2022, based on preliminary data. While the revenue from sales of Shelly-branded smart home devices increased by 37.5%, amounting to BGN 34.2 million (EUR 17.5 million), the revenue from sales of MyKi tracking devices increased by 28.3% to pre-pandemic levels of BGN 1.7 million (EUR 0.9 million), as the tracking devices market recovered post-pandemic.

With these revenues, Allterco JSCo exceeded budget and forecast for both Q2 2022 and H1 2022. Compared to Q1 2022 the growth rate of the Company is increasing, in line with the management expectations of an annual growth rate of 43% for 2022.

The Company will officially disclose consolidated financials for H1 2022 within the statutory deadlines until 29 August 2022.

* Тhe percentage shows only the year-on-year growth of revenue from IoT business and does not reflect the revenue from value added services in Asia in the amount of BGN 2.2 million (EUR 1.1 million) in the first half-year 2021 before the sale of the Asian telecommunication business later in the same.

** EUR/BGN exchange rate as of 13 July 2022 – EUR 1 = BGN 1.95583

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13-Jul-2022 CET/CEST The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
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