Allterco JSCo Announces Preliminary H1 2022 Revenue


DGAP-Ad-hoc: Allterco JSCo / Key word(s): Preliminary results/Half-year results
Allterco JSCo Announces Preliminary H1 2022 Revenue

13-Jul-2022 / 09:30 CET/CEST
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Allterco JSCo Announces Preliminary H1 2022 Revenue

Sofia / Munich, July 13, 2022 – Allterco JSCo (ticker A4L / ISIN: BG1100003166) (“Allterco”), a Sofia, Bulgaria-based IoT and smart home products provider, reports a 37.1%* year-over-year increase in IoT revenues from the sale of devices and related products and services at BGN 35.9 million (EUR 18.3 million) in the first half of 2022, based on preliminary data. While revenue from sales of Shelly-branded smart home devices increased by 37.5% to BGN 34.2 million (€17.5 million), revenue from MyKi tracking rose 28.3% to pre-pandemic levels of BGN 1.7 million (€0.9 million), as the tracking device market recovered post-pandemic.

With these revenues, Allterco JSCo exceeded budget and forecast for the second quarter of 2022 and the first half of 2022. Compared to the first quarter of 2022, the company’s growth rate is increasing, in line with management’s expectations of a annual growth of 43% for 2022.

The Company will officially publish its consolidated financial statements for the first half of 2022 within the regulatory deadline until August 29, 2022.

* Percentage only shows year-over-year growth in IoT business revenue and does not reflect Asia value-added services revenue of BGN 2.2 million (1. €1 million) in the first half of 2021 before the sale of the Asian telecommunications business later in the same period.

** EUR/BGN exchange rate as of July 13, 2022 – 1 EUR = 1.95583 BGN

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