Preliminary data show an year-on-year increase of more than 37% of huge international success of Shelly, the company’s home automation product line
July 13, 2022, Sofia– Allterco JSCo, the IoT industry innovator (BSE: A4L / ISIN: BG1100003166), reported a preliminary 37.1% growth in consolidated sales revenue for the first 6 months of 2022 compared to the same period in 2021. Revenue from the over 100 markets where the company operates as of today, equals BGN 35.9 million (EUR 18.3 million), with the predominant share – BGN 34.2 million (EUR 17.5 million) coming from the home automation product line of the company – Shelly. The smart devices line registered 37.5% year-over-year growth compared to 2021, based on the company’s preliminary internal estimates for H1 2022. Meanwhile, MyKi, the company’s other flagship brand of GPS and personal care devices, also reported increased consumer interest and 28.3% stronger sales revenue for the first 6 months (BGN 1.7 million/ EUR 0.9 million). Thus, the brand regains its results from the pre-pandemic period. The company will officially disclose consolidated financial results for the Q2 of 2022 latest by August 29, 2022.
Allterco’s current strong revenue results exceed forecast expectations for both the second quarter and the first half of 2022 and are a proof to the company’s successful operating model and the entrepreneurial foresight that its management has shown in recent months by focusing its efforts on energy-efficient intelligent devices. Earlier this year – in April, Allterco also introduced a change in the management of the company with the appointment of Wolfgang Kirsch as CEO, a role he shares with one of the founders – Dimitar Dimitrov. Allterco’s increased results were achieved in the context of the harmonious management of the two professionals and clearly show the success of this dual management model.
“The company’s growth rate makes us proud and motivates us to embrace even more ambitious goals for the future. The financial results achieved for the first 6 months of the year once again exceed forecast expectations and bring us even closer to our main goal – entering the top 10 IoT companies on the European market, with energy efficiency being one of our focuses in 2022 to accomplish this”, said Dimitar Dimitrov, CEO and founder of Allterco JSCo.
“I am extremely happy to be a part of such an innovative and fast-growing technology company. The good financial results are just another incentive for our entire team to move ahead with even higher speed. We are determined to achieve a growth rate of 43% by the end of the year and I am confident, looking at our great team and our wonderful fans all over the world, that we will succeed”, commented Wolfgang Kirsch, CEO of Allterco JSco.
To fulfill its plans for the year, in the second half of 2022 the company will surprise fans with the launch of new intelligent home and office devices from the Shelly line. Next week, Allterco will add several new products to the Shelly branded portfolio, and their premiere will be livestreamed on July 20, 18:00 CET. More about the event here.