EQS-Adhoc: Shelly Group announces preliminary consolidated sales revenues 9M 2023
EQS-Ad-hoc: Shelly Group AD / Key word(s): Preliminary Results/Development of Sales
Shelly Group announces preliminary consolidated sales revenues 9M 2023
11-Oct-2023 / 12:20 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by EQS News - a service of EQS Group AG.
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Publication of inside information according to Article 17 MAR
Shelly Group announces preliminary consolidated sales revenues 9M 2023
Sofia / Munich, 11 October 2023 – Shelly Group AD (Ticker: SLYG / ISIN: BG1100003166) (“Shelly Group” / “the Company”), announces 49.4% year-on-year increase in revenue from sales of devices and related services to EUR 44.1 million (BGN 86.3 million) in 9M 2023, based on preliminary data. The revenue from sales of Shelly-branded IoT and smart home devices increased by 54.4%, amounting to EUR 43.0 million (BGN 84.0 million). The sales revenue of MyKi tracking devices decreased by 31.5% to EUR 1.1 million (BGN 2.2 million). With Shelly Group's focus on IoT and smart building solutions, MyKi no longer generates significant revenue and earnings contributions and will therefore no longer be included in the reporting of preliminary revenue figures in the future.
The Company will officially disclose consolidated financials for 9M 2023 until 14 November 2023.
Note: EUR/BGN exchange rate EUR 1 = BGN 1.95583.
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