The technology company delivered over 30 Mil. Euros in sales revenues on consolidated basis
11 January 2022, Sofia – The preliminary sales revenue results on consolidated basis for the fourth quarter of 2021 show that Allterco JSCo registered a 51% growth in sales revenues for 2021 compared to same period in 2020, amounting to BGN 59.5 million (EUR 30,4 million). A major part of it – BGN 55.9 million (EUR 28,6 million), comes from the company’s home automation line Shelly, which performed with 62% growth in comparison to 2020, based on preliminary internal calculations by the company for 2021. These financial results are even more valuable being delivered during global pandemic crisis and following a major chips supply shortage around the world. In this environment Allterco managed to reach in 2021 over 4.5 Million Shelly devices delivered to the market since the first product of the brand was launched in 2017. The Company is expected to publish its official financial results for the fourth quarter of 2021 on consolidated basis by 1st of March 2022.
„We are very pleased with 2021 performance, and ready to perform even better in 2022. This success mirrors the dedication, professionalism, and talent of Allterco’s team, who works tirelessly to develop and deliver the most innovative products and solutions for consumers, and always listens to their needs. Last year we conducted multiple very successful product launches, I am especially proud of the new Pro and Plus product lines, but we have several more in the pipeline” – said Dimitar Dimitrov, CEO of Allterco JSCo.
The past 2021 was a year of many achievements for Allterco. Allterco’s shares were listed for trading on the Frankfurt Stock Exchange by which the company became the first in Bulgaria to be traded also in the German capital market Prime segment. The dual listing in the Prime Standard – the segment with the highest transparency – gave Allterco access to additional investor groups, increased the company’s visibility on the capital markets and increased the attractiveness of company’s shares. The company continued its expansion by founding Allterco Europe GmbH, which is headed by experienced retail and technology professional Wolfgang Kirsch – previously Chief Operating Officer at MediaMarktSaturn. Despite the challenging pandemic situation, Allterco’s team of professionals grew in 2021 and the company expanded its pool of talents, highlighting its ambition for growth locally and globally.
The high growth results of Allterco were achieved in the context of the company launching two new and innovative IoT product lines – Shelly Plus and Shelly Pro. They feature next generation devices that have the potential to further ease consumers’ lives and strengthen the company’s position of a leading innovator in the field. Just before the Christmas holidays Allterco introduced and started delivering to the customers the intelligent thermostatic radiator valve Shelly TRV, and with this announced entering a new line of business in the home automation area of intelligent heating control devices, offering a durable product at competitive price, challenging big international brands in this market.