Shelly Group Accelerates Revenue Growth in the Third Quarter and Confirms Full-Year 2026 Guidance
Published on 11/10/2026 at 18:30 | dgap, AD HOC NEWS| Shelly Group SE / Key word(s): Quarter Results/Quarterly / Interim Statement 10.11.2026 / 18:30 CET/CEST The issuer is solely responsible for the content of this announcement. Group revenue increases by 29.8% to EUR 112.8 million; growth accelerates to 35.1% in the third quarter EBIT rises by 25.4% to EUR 27.5 million; EBIT margin at 24.3% (9M 2025: 25.2%) Net profit grows by 28.5% to EUR 23.8 million; earnings per share EUR 1.30 (9M 2025: EUR 1.01) Cash and cash equivalents more than doubled to EUR 31.1 million (December 31, 2025: EUR 13.7 million) Installer network reaches approximately 11,300 members Full-year 2026 guidance confirmed: Revenue between EUR 195.0 million and EUR 205.0 million, EBIT between EUR 47.0 million and EUR 52.0 million Sofia / Munich, November 10, 2026 – Shelly Group SE (Ticker: SLYG / ISIN: BG1100003166) (“Shelly Group”), a provider of IoT and smart building solutions headquartered in Sofia, Bulgaria, further increased both revenue and earnings in the first nine months of 2026. Revenue growth accelerated in the third quarter compared with the two preceding quarters. Shelly Group further expanded its distribution channels in the DIY and professional segments and strengthened its international presence. The network of professional installers grew by more than 2,700 in the third quarter alone to approximately 11,300 members, underlining the continued momentum in the professional segment. The Shelly Cloud user base reached 3.4 million active users (September 30, 2025: approximately 2.4 million). Group Figures (unaudited)
Revenue and Earnings Growth in the First Nine Months of 2026 Shelly Group increased group revenue by 29.8% to EUR 112.8 million in the first nine months of 2026. Growth accelerated to 35.1% in the third quarter, with quarterly revenue reaching EUR 44.5 million. Gross profit rose disproportionately by 35.2% to EUR 67.7 million. Gross margin improved to 60.0% (9M 2025: 57.6%). Shelly Group deliberately invested the higher gross profit in growth: Sales and marketing expenses increased to EUR 16.2 million (9M 2025: EUR 10.4 million), driven primarily by sales-related marketing support. General and administrative expenses rose to EUR 24.1 million (9M 2025: EUR 16.1 million), reflecting organizational scaling and market entry into new countries. EBIT grew by 25.4% to EUR 27.5 million, with an EBIT margin of 24.3% (9M 2025: 25.2%). In the third quarter, EBIT of EUR 9.7 million matched the level of the prior-year quarter, which had benefited from currency effects and revenue recognition adjustments. Net profit improved by 28.5% to EUR 23.8 million, and earnings per share to EUR 1.30 (9M 2025: EUR 1.01). Strong Cash Flow Development and Further Working Capital Improvement Cash flow from operating activities amounted to EUR 26.2 million in the first nine months of 2026 (9M 2025: EUR 6.9 million). Cash and cash equivalents increased by 127.4% compared with year-end 2025 to EUR 31.1 million. This already reflects the dividend payment, the acquisition of the remaining stake in Shelly Tech, and investments in production capacity and research and development. The equity ratio stood at 81.4% as of September 30, 2026. The cash conversion cycle continued to improve: It shortened by a further 6 days in the third quarter to 249 days, 28 days below the year-end 2025 level. Days sales outstanding (DSO) stood at 150 days, 42 days below the year-end 2025 level, while days inventory outstanding (DIO) decreased to 131 days. By year-end 2026, the cash conversion cycle is expected to decline further into the target range of 220 to 240 days. Outlook For fiscal year 2026, the Board of Directors confirms its guidance, expecting group revenue in a range of EUR 195.0 million to EUR 205.0 million and EBIT between EUR 47.0 million and EUR 52.0 million. As in previous years, the fourth quarter will be shaped by the seasonally strong DIY business, Black Friday and the Christmas season. Voluntary Public Takeover Offer On September 28, 2026, SE 2026 A SAS, an indirect wholly-owned subsidiary of Schneider Electric SE, registered a voluntary public takeover offer for all shares of Shelly Group at an offer price of EUR 70.00 per share in cash with the Bulgarian Financial Supervision Commission (“FSC”), based on the Investment Agreement concluded on September 24, 2026. On October 5, 2026, the Board of Directors expressed its support for the offer, backed by an independent Fairness Opinion from Freitag & Co. GmbH. By decision of October 22, 2026, the FSC requested the bidder to supplement and clarify the offer document. The key terms of the offer, including the offer price, are not affected. The acceptance period will only commence upon publication of the offer document approved by the FSC. The offer is subject to a minimum acceptance threshold of 95% and the required regulatory approvals. Wolfgang Kirsch, Co-CEO of Shelly Group SE, on business development: “In the first nine months, we further increased revenue and earnings, and our growth gained additional momentum in the third quarter. The professional segment is developing particularly well: Our installer network has more than doubled within one year. With a strong product program for the fourth quarter and a solid financial position, we are well positioned to achieve our targets for the year.” Earnings Call: Co-CEOs Dimitar Dimitrov and Wolfgang Kirsch, together with CFO Iliyana Krushkova, will discuss the unaudited consolidated results for the first nine months of fiscal year 2026 during a webcast presentation on November 11, 2026, at 9:00 a.m. CET (10:00 a.m. EET). The webcast/call will be held in English. Please register to participate in the webcast/call at: Shelly Group – Earnings Call 9M 2026. About Shelly Group Shelly Group SE develops, designs, and distributes IoT and smart building solutions for DIY and professional users, offering advanced technology, seamless interoperability, and a high degree of technological flexibility. Shelly products enable remote control and automation as well as energy management of electrical appliances and smart building solutions via smartphones, PCs, or third-party home automation systems. In addition to the sale of devices, the Shelly Group generates revenue from its cloud applications. The Shelly Group benefits from asset-light production through the use of contract manufacturers. The Company has a strong presence in German-speaking countries and is represented with its products in more than 100 countries. With sales organizations in the regions of DACH (Germany, Austria, Switzerland), Benelux (Belgium, the Netherlands, Luxembourg), the Nordics (Denmark, Sweden, Norway, and Finland), Iberia (Spain and Portugal), as well as in Poland, Italy, France, the United Kingdom, Bulgaria, Slovenia, the United States and China, the Shelly Group has a broad international presence. Shelly Group SE (ISIN: BG1100003166) is listed on the Bulgarian Stock Exchange and on the regulated market (Prime Standard) of the Frankfurt Stock Exchange (XETRA: SLYG) and is included in the SDAX. Contact Investor Relations CROSS ALLIANCE communication GmbH Sven Pauly Phone: +49 89 125 09 0331 Mail: sp@crossalliance.de www.crossalliance.de Important Notice This announcement is for information purposes only and constitutes neither an offer to purchase nor a solicitation of an offer to sell securities of Shelly Group. The offer will be made solely on the basis of the offer document following its approval by the FSC. Shareholders are advised to read the offer document and the reasoned opinion of the Board of Directors of Shelly Group carefully as soon as they become available. This announcement may contain forward-looking statements. Actual results may differ materially from those expressed or implied in such statements due to risks, uncertainties and other factors. 10.11.2026 CET/CEST Dissemination of a Corporate News, transmitted by EQS News - a service of EQS Group. The issuer is solely responsible for the content of this announcement. The EQS Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases. View original content: EQS News |
| Language: | English |
| Company: | Shelly Group SE |
| 51 Cherny Vrah Blvd., Office building 3, Floor 2 and 3 | |
| 1407 Sofia | |
| Bulgaria | |
| E-mail: | investors@shelly.com |
| Internet: | www.corporate.shelly.com |
| ISIN: | BG1100003166 |
| WKN: | A2DGX9 |
| Indices: | SDAX |
| Listed: | Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate BSX |
| LEI Code: | 8945007IDGKD0KZ4HD95 |
| EQS News ID: | 2432128 |
| End of News | EQS News Service |
| |
en | BG1100003166 | SHELLY GROUP SE | boerse | 70487936 |
