EQS-News: Shelly Group PLC
/ Key word(s): Half Year Results/Half Year Report
Shelly Group PLC in 6M/23 with acceleration of profitable growth course
Note: The equity ratio comparison is from 30 June 2023 to 31 December 2022. The figures for the six-month period 2023 are unaudited. Rounding differences may occur. With an equity ratio of 82.7% as of 30 June 2023, Shelly Group enjoys a solid balance sheet (31 December 2022: 89.0%). Here, the unappropriated profit was offset in particular, by loss carryforwards in connection with the acquisition of a Slovenian company, bonus payments to employees, and the increase in current liabilities for the resolved distribution of dividends. Cash flow from operating activities in 6M/23 with an inflow of EUR 8.7 million (BGN 17.0 million) reflects in particular the lower inventory level and decreased receivables. With a cash outflow of EUR 1.6 million (BGN 3.1 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 30 June 2023 increased accordingly to EUR 19.8 million (BGN 38.7 million) compared to EUR 14.4 million (BGN 28.2 million) as of 31 December 2022. Shelly Group maintains a sufficient basis for financing further growth. For the current fiscal year 2023, the Board of Directors continues to expect revenue growth of 51.0% to EUR 72.0 million and EBIT to increase by at least 63.5% to more than EUR 17.0 million. Wolfgang Kirsch, Co-CEO of Shelly Group PLC, added on business performance: “Shelly Group, with its consistent value-for-money focus, is excellently positioned for sustainable growth. We are benefiting from this even in times when the broader smart home market is facing economic challenges. In addition, private households and companies alike are increasingly looking to reduce housing costs without sacrificing quality of life or everyday working conditions. Smart lighting and smart heating are examples of growing demand for Shelly energy efficiency management solutions. Overall, we are therefore extremely confident about the second half of the year and the Company's further development. “ Co-CEOs Dimitar Dimitrov and Wolfgang Kirsch will comment on the unaudited consolidated 6M 2023 results by means of a webcast presentation on 17 August 2023, 09.00 CEST (10.00 EEST). The webcast/call will be held in English. Please register to participate in the webcast/call at: The unaudited six-month report is available in the Investor Relations section of the Company's website at allterco.com. Note: EUR/BGN exchange rate fixed at EUR 1 = BGN 1.95583. Shelly Group PLC 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, China, USA, Slovenia and Germany. Shelly Group’s products have already conquered over 100 markets. Shelly Group PLC 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
16.08.2023 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG. |
Language: | English |
Company: | Shelly Group PLC |
103 Cherny Vrah Bldv | |
1407 Sofia | |
Bulgaria | |
E-mail: | s.iliev@allterco.com |
Internet: | www.allterco.com |
ISIN: | BG1100003166 |
WKN: | A2DGX9 |
Listed: | Regulated Market in Frankfurt (Prime Standard) |
EQS News ID: | 1705189 |
End of News | EQS News Service |
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1705189 16.08.2023 CET/CEST
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