Shelly Group off to a strong start in financial year 2025 – Growth slightly above expectations

EQS-News: Shelly Group SE / Key word(s): Quarterly / Interim Statement/Quarter Results Shelly Group off to a strong start in financial year 2025 – Growth slightly above expectations 14.05.2025 / 20:30 CET/CEST The issuer is solely responsible for the content of this announcement. Shelly Group off to a strong start in financial year 2025 – Growth slightly above expectations

• Group revenue increases by 28.9% to EUR 26.5 million (BGN 51.8 million)
• EBIT up 23.0% to EUR 6.7 million (BGN 13.0 million) – EBIT margin of 25.2% above medium-term plan
• Consolidated net profit rises by 23.6% to EUR 5.6 million (BGN 11.0 million)
• Further improvement in working capital position driven by optimized procurement, lower inventory levels and stricter receivables management
• Shelly Cloud user base grows to over 2.0 million (31 December 2024: 1.9 million)
• 2025 guidance confirmed: Revenue growth to between EUR 145 million and EUR 155 million (BGN 284 million to BGN 303 million) and increase in EBIT to between EUR 35 million and EUR 40 million (BGN 68 million to BGN 78 million)

Sofia / Munich, 14 May 2025 – Shelly Group SE (Ticker SLYG / ISIN: BG1100003166) (“Shelly Group”), a provider of IoT and smart building solutions based in Sofia, Bulgaria, again recorded profitable growth above the industry average in 3M 2025. The company continued to expand its distribution channels and geographic presence, broaden its product and service portfolio, and increase the share of sales to professional users. With revenue trends above market average across all sales regions, the German-speaking countries remained the strongest growth contributor, up 19.1% to EUR 12.8 million (BGN 25.0 million), although momentum eased somewhat due to ongoing macroeconomic headwinds. Nevertheless, the medium-term outlook remains promising. The international expansion of distribution structures continued to accelerate, with particularly strong growth in Italy and Scandinavia. Rest of Europe grew by 41.0%, while rest of world increased by 34.6%.