EQS-News: Shelly Group AD
/ Key word(s): Preliminary Results/Annual Results
Shelly reaps the rewards of its investments and exceeds 2023 revenue and earnings guidance based on preliminary figures
Note: The equity ratio and cash comparison is from 31 December 2023 to 31 December 2022. The figures for the twelve-month period 2023 are unaudited. Rounding differences may occur. With an equity ratio of 85.8% as of 31 December 2023, Shelly Group enjoys a solid balance sheet (31 December 2022: 89.0%). Here, the unappropriated profit was offset in particular, by an increase in trade liabilities in connection with the expansion of business activities and the effect of Black Friday. In addition, loss carryforwards in connection with the acquisition of a Slovenian company, bonus payments to employees, and the distribution of dividends were noticeable. Cash flow from operating activities in the twelve-month period 2023 with an inflow of EUR 7.7 million (BGN 15.0 million) reflects, in particular, a lower inventory level with a simultaneous increase in receivables and prepayments for production. With a cash inflow of EUR 0.1 million (BGN 0.3 million), the prior-year period was characterized in particular by increased inventory levels and advance payments to suppliers to proactively manage potential delays in the supply chains. Cash and cash equivalents as of 31 December 2023 increased accordingly to EUR 15.7 million (BGN 30.7 million) compared to EUR 14.4 million (BGN 28.1 million) as of 31 December 2022. Shelly Group maintains a sufficient basis for financing further growth. Guidance for the current financial year 2024 will be announced in conjunction with the release of the 2023 Annual Report on 15 April 2024. Co-CEOs Dimitar Dimitrov and Wolfgang Kirsch will comment on the unaudited consolidated 12M 2023 results by means of a webcast presentation on 27 February 2024, 09.00 CET (10.00 EET). The webcast/call will be held in English. Please register to participate in the webcast/call at: The unaudited interim report is available in the Investor Relations section of the Company's website at corporate.shelly.com. Shelly Group AD 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. Shelly Group 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 6 subsidiary companies and has offices in Bulgaria, Germany, and Slovenia as well as in China and USA. Shelly Group’s products have already conquered over 100 markets. Shelly Group AD 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 SLYG. CROSS ALLIANCE communication GmbH
26.02.2024 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Shelly Group AD |
103 Cherny Vrah Bldv | |
1407 Sofia | |
Bulgaria | |
E-mail: | investors@shelly.com |
Internet: | www.allterco.com |
ISIN: | BG1100003166 |
WKN: | A2DGX9 |
Listed: | Regulated Market in Frankfurt (Prime Standard) |
EQS News ID: | 1845505 |
End of News | EQS News Service |
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1845505 26.02.2024 CET/CEST
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