Shelly Group Achieves Record Black Friday Sales, 2024 Outlook Confirmed

Shelly Group AD, a provider of IoT and smart building solutions, has reported record-breaking Black Friday sales. The company saw an over 80% increase, selling approximately 2 million home automation devices. This surge is attributed to the high demand for their affordable devices with Bluetooth and energy-saving features, aligning with the current heating season needs.

The Black Friday sales reached EUR 24 million, marking a 65% increase from the previous year. Shelly Group remains on track to hit its 2024 revenue target of EUR 105 million and a projected EBIT of EUR 26 million. Last year's figures stood at EUR 74.9 million in revenue and EUR 19.1 million in EBIT.

Co-CEO Wolfgang Kirsch expressed confidence in achieving their annual and medium-term goals, citing energy measurement and saving trends as key growth drivers. Shelly Group aims to exceed EUR 200 million in sales and EUR 50 million in EBIT by 2026.