EQS-News: Allterco in 9M/22 with revenue and earnings above expectations on stable cost base
on 3?November 2022 of an increase in revenues from the sale of goods and productions to EUR?45?46?million (2021: EUR?30.4?million) and earnings before interest and taxes (EBIT) between EUR?10?10.5?million (2021: EUR?9.6?million).Dimitar Dimitrov, Co-CEO of Allterco JSCo, commented on product development: ?The great appreciation by our customers is the well-deserved reward for our relentless efforts to continuously improve our products, to bring solution-driven new applications and devices to market again and again, and to contribute to seamless integration in the Smart Home in an increasingly connected world. Interaction is particularly important to us, whether through the continuous improvement of user interfaces and user experience or in support. This gives us a development lead of two to three generations over our competitors' products. We are already looking forward to presenting a variety of new innovative products at CES in Las Vegas in early January 2023.?Wolfgang Kirsch, Co-CEO of Allterco JSCo, added on business performance: ?We are particularly pleased that we grew in all product categories and in all regional markets. As such we exceeded our own expectations. So based on a solid order backlog and a strong start to the final quarter of 2022, we have raised our full-year guidance for 2022 after the end of the reporting period. In this context, our investments in expanding our global sales teams, increasing R&D capacity, and developing the market for professional users are already paying off. At the same time, we have our costs fully under control in the face of multiple economic challenges. Based on the continued demand for energy-saving solutions, we expect a successful year-end business and confirm our raised targets for the full year.? The unaudited nine-month report is available in the Investor Relations section of the Company's website at allterco.com.
* EUR/BGN exchange as of 14?November 2022 ? 1 EUR = BGN 1.95583Earnings Call:
Co-CEOs Dimitar Dimitrov and Wolfgang Kirsch will comment on the unaudited consolidated 9M 2022 results by means of a webcast presentation on 15 November 2022, 09.00 CET (10.00 EET). The webcast/call will be held in English.
Please register to participate in the webcast/call at:Allterco JSCo ? Earnings Call 9M 2022.
For further information, please visit allterco.comAbout Allterco
Allterco JSCo is a technology holding company that stands for innovation through the development, manufacture, and distribution of high-quality IoT products. End users and their needs are always at the heart of development. Allterco was founded in Bulgaria and works with a team of young, talented developers who are dedicated to producing competitive and user-friendly products. The Group consists of 5 subsidiary companies and has offices in Bulgaria, China, USA and Germany. Allterco's products have already conquered over 100 markets. Allterco JSCo has been listed on the Bulgarian Stock Exchange since December 2016 and on the Frankfurt Stock Exchange as of November 2021 where its shares are traded under GSIN A2DGX9, ISIN BG1100003166, ticker A4L.
Contact Investor Relations
CROSS ALLIANCE communication GmbH Sven Pauly Phone: +49 89 125 09 0331 Mail: firstname.lastname@example.org
14.11.2022 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group AG.The issuer is solely responsible for the content of this announcement.The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.Archive at www.eqs-news.com
Language: English Company: Allterco JSCo 103 Cherny Vrah Bldv 1407 Sofia
Bulgaria E-mail: email@example.com Internet: www.allterco.com ISIN: BG1100003166 WKN: A2DGX9 Listed: Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin EQS News ID: 1487571 ? End of News EQS News Service