In this research note, we examine Shelly Group SE, a public company that provides IoT and smart building solutions based in Bulgaria. This article reviews their product portfolio, a Capital Markets Day presentation of 5th November 2024, preliminary 2024 financial highlights of 9th January 2025, and guidance for 2026. Shelly Group Profile Shelly Group AD is a technology holding company founded in 2010. The company was formerly known as Allterco AD and changed its name to Shelly Group in June 2023. The company is listed on the Bulgarian and Frankfurt Stock Exchanges and has recently completed its change of legal form to a European SE company. The Group consists of 6 subsidiary companies and has offices in Bulgaria, Germany, Slovenia, China, and the USA. Shelly Group’s products have already entered over 100 markets. Product Portfolio & Acquisitions The group continues to experience growing demand for its energy efficiency management products and solutions, as well as plug-and-play, […]
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