EQS-News: Shelly Group AD
/ Key word(s): Quarterly / Interim Statement
Shelly with successful start to 2024 – strong development in 3M 2024
Note: The equity ratio and cash comparison relates to the reporting dates 31 March 2024 and 31 December 2023. The figures for the three-month period 2024 are unaudited. Rounding differences may occur. With an equity ratio of 89.1% as of 31 March 2024, Shelly Group enjoys a solid balance sheet (31 December 2023: 85.8%). Here, the net profit contributed to the increase in equity. At the same time, liabilities decreased by 20.4%. Cash flow from operating activities in the three-month period 2024 with an inflow of EUR 0.2 million (BGN 0.4 million) reflects, in particular, an increase in inventories and a simultaneous increase in receivables and advance payments for production. With a cash inflow of EUR 5.2 million (BGN 10.2 million), the prior-year period was characterized in particular by a decrease in inventories. Moreover, the cash flow from investing activities reflects the acquisition of a further 16% in Shelly Tech (GOAP) and investments in research and development. Cash and cash equivalents as of 31 March 2024 decreased accordingly to EUR 14.9 million (BGN 29.2 million) compared to EUR 15.7 million (BGN 30.8 million) as of 31 December 2023. Shelly Group maintains a sufficient basis for financing further growth. For the current financial year 2024, the Board of Directors continues to expect revenue growth to EUR 105.0 million (BGN 205.4 million) and an increase in EBIT to more than EUR 26.0 million (BGN 50.9 million). In the past financial year 2023, revenue totaled EUR 74.9 million (BGN 146.5 million) and EBIT EUR 19.1 million (BGN 37.4 million). Co-CEOs Dimitar Dimitrov and Wolfgang Kirsch will comment on the unaudited consolidated 3M 2024 results by means of a webcast presentation on 16 May 2024, 09.00 CEST (10.00 EEST). The webcast/call will be held in English. Please register to participate in the webcast/call at: Note: EUR/BGN exchange rate fixed at EUR 1 = BGN 1.95583. 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
15.05.2024 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.corporate.shelly.com |
ISIN: | BG1100003166 |
WKN: | A2DGX9 |
Listed: | Regulated Market in Frankfurt (Prime Standard) |
EQS News ID: | 1904213 |
End of News | EQS News Service |
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1904213 15.05.2024 CET/CEST
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