Shelly Group SE Reports Robust Financial Growth in 2024

Shelly Group SE, specializing in IoT and smart building solutions, reported a 42.4% revenue increase in 2024, reaching EUR 106.7 million. The EBIT grew by 34.4% to EUR 25.7 million, with an EBIT margin of 24.1%. Consolidated net profit saw a rise of 36.9%, standing at EUR 23.1 million. The group's international expansion, particularly in German-speaking countries, Italy, and the Iberian Peninsula, significantly drove this growth.

Despite strong growth, the equity ratio decreased slightly from 85.8% to 81.4%, influenced by future rental expenses under IFRS 16. Operating cash flow dropped to EUR 2.8 million due to increased working capital investments. For 2025, Shelly projects revenue between EUR 145 million and EUR 155 million and EBIT growth to hit EUR 35-40 million, aiming to widen the product range and expand regional platforms.