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Allterco JSCo announces preliminary sales revenues 9M 2022

Allterco JSCo / Key word(s): Preliminary Results/Development of Sales
Allterco JSCo announces preliminary sales revenues 9M 2022

05-Oct-2022 / 11:00 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS – 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 9M 2022

Sofia / Munich, 5 October 2022 – Allterco JSCo (ticker A4L / ISIN: BG1100003166) (“Allterco”), a provider of IoT and smart home products based in Sofia, Bulgaria, announces a 49.8%* year-on-year increase in IoT revenue from sales of devices and related services to BGN 57.7 million (EUR 29.5 million) in 9M 2022, based on preliminary data. The revenue from sales of Shelly-branded smart home devices increased by 51.0%, amounting to BGN 54.5 million (EUR 27.8 million), followed by the revenue from sales of MyKi tracking devices, which increased by 32.5% to BGN 3.2 million (EUR 1.6 million).

With these revenues, Allterco JSCo exceeded budget and forecast for 9M 2022 by 5.4%. Compared to 9M 2021 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 9M 2022 on 14 November 2022.

* Changes show only the year-on-year growth of revenue from IoT business and do not reflect revenue from value added services in Asia since the Asian telco business was sold in September 2021.

** EUR/BGN exchange rate as of 5 October 2022 – EUR 1 = BGN 1.95583

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