January 16 (SeeNews) - Bulgarian IoT products maker Allterco [BUL:A4L] said on Monday that its revenue from sales of devices and related services jumped by 56.1% on the year to 47.5 million euro ($51.3 million) in 2022, according to preliminary data.
Sales of Shelly-branded smart home devices increased by 60% in annual terms, reaching 45.2 million euro last year, whereas sales of MyKi tracking devices went up by 20.6% to 2.2 million euro, Allterco said in a press release.
With these results, Allterco beat its 2022 revenue forecast of 45 to 46 million euro. The company said it will disclose its fourth-quarter consolidated financial results on March 1. The consolidated annual report will be published on April 28.
Allterco reported in November a consolidated net profit of 11.75 million levs ($6.49 million/6.01 million euro) for the first nine months of 2022, up from 10.05 million levs a year earlier.
As at CET 1443 on Monday, shares in Allterco traded 0.91% lower at 21.80 levs on the Bulgarian Stock Exchange.
($ = 0.9252 euro)