January 10 (SeeNews) - Bulgarian IoT products maker Shelly Group [BUL:SLYG; FRA:SLYG] said on Wednesday that its revenue from sales of IoT devices soared by an annual 57.2% to 74.9 million euro ($81.9 million) in 2023, citing preliminary data.
Sales of smart home and IoT devices under the Shelly brand came in at 73.2 million euro last year, marking a 61.7% year-on-year increase, Shelly Group said in a bourse filing.
Driven by strong Black Friday and Christmas sales, Shelly Group significantly surpassed its consolidated revenue forecast of 72 million euro for 2023, the company said. Last month, Shelly Group reiterated its 2023 guidance for a 51% jump in annual sales.
The company will disclose its 2023 consolidated results on February 26, it said.
As of 1211 CET on Wednesday, shares in Shelly Group traded 0.41% lower at 48.20 levs ($26.96/24.64 euro) on the Bulgarian Stock Exchange.
(1 euro = 1.95583 levs)