Shelly on a continuous growth path in the nine-month period 2024

EQS-News: Shelly Group AD / Key word(s): 9 Month figures/Interim Report Shelly on a continuous growth path in the nine-month period 2024 13.11.2024 / 20:45 CET/CEST The issuer is solely responsible for the content of this announcement. Shelly on a continuous growth path in the nine-month period 2024

• Group revenue grows by 47.2% to EUR 65.0 million (BGN 127,0 million)
• EBIT increases by 29.2% to EUR 15.4 million (BGN 30,0 million)
• Consolidated net profit grows by 38.5% to EUR 13.8 million (BGN 26.9 million)
• Cash flow as a driver for R&D, working capital and product expansion
• Growth in Shelly Cloud user base to around 1.7 million (31 December 2023: 1.3 million)
• 1st Capital Markets Day highlights achievements on the way to meeting medium-term guidance
• Outlook for 2024 reaffirmed: Revenue growth to EUR 105.0 million and increase in EBIT to EUR 26,0 million

Sofia / Munich, 13 November 2024 – Shelly Group AD (Ticker SLYG / ISIN: BG1100003166) (“Shelly Group”), a provider of IoT and smart building solutions based in Sofia, Bulgaria, has continued to grow profitably in 9M 2024 by internationally expanding its distribution channels and addressable customer base, as well as by broadening its product and service portfolio. With a revenue performance above the market average in all sales regions, the German-speaking countries continued to make the largest contribution to growth with an increase of 47.4% to EUR 32.5 million (BGN 63.6 million). The international expansion of distribution structures was further accelerated and is expected to sustainably drive the positive development, particularly in Italy and the Iberian Peninsula.

Group figures (unaudited)

in EUR million	9M/24	9M/23	∆
Group revenues	65.0	44.1	47.2%
EBIT	15.4	11.9	29.2%
EBIT margin	23.6%	26.9%	-12.2%
Net profit	13.8	9.9	38.5%
Equity ratio	88.7%	84.6%	4.9%
Operating cash flow	-1.4	9.6	-114.5%
Cash and cash equivalents	11.4	18.1	-37.0%

Note: The equity ratio and cash comparison relate to the reporting dates 30 September 2024 and 31 December 2023. The figures for the nine-month period 2024 are unaudited. Rounding differences may occur.