Shelly Group announces preliminary consolidated sales revenues Q1 2024 and guidance 2024

Publication of inside information according to Article 17 MAR

Shelly Group announces preliminary consolidated sales revenues Q1 2024 and guidance 2024

Sofia / Munich, 9 April 2024 – Shelly Group AD (Ticker: SLYG / ISIN: BG1100003166) (“Shelly Group” / “the Company”), announces 45.5% year-on-year increase in revenue from sales of devices and related services to EUR 20.5 million (BGN 40.2 million) in Q1 2024, based on preliminary data. The revenue from sales of Shelly IoT and smart home devices increased by 46.4%, amounting to EUR 20.2 million (BGN 39.5 million).

For the current financial year 2024, the Board of Directors expects revenue from sales of devices and related services of EUR 105.0 million (BGN 205.4 million) and earnings before interest and taxes (EBIT) likely to be above EUR 26.0 million (BGN 50.9 million). In the past financial year 2023, preliminary figures put revenue at EUR 74.9 million (BGN 146.5 million) and EBIT at EUR 19.1 million (BGN 37.4 million).

The Company will officially disclose unaudited consolidated financials for Q1 2024 on 15 May 2024 after the close of trading.

Note: EUR/BGN exchange rate fixed at EUR 1 = BGN 1.95583.

For further information, please visit corporate.shelly.com.

Investor Relations Contact

CROSS ALLIANCE communication GmbH
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