Shelly Group

Shelly Group SE is a technology holding company specializing in the development, manufacturing, and distribution of Internet of Things (IoT) products and smart building solutions. Established in 2003 as Teracomm Ltd., the company initially focused on telecommunications and mobile innovations.

In 2015, it restructured to concentrate on IoT and wearable technologies, leading to the creation of Allterco Robotics and the launch of the Shelly brand. In December 2024, the company transitioned to a European Company (Societas Europaea – SE), aligning with European Council Regulation No. 2157/2001.

Mission and Product Range

The company's mission is to enhance energy efficiency and comfort in homes and businesses through innovative smart building solutions. Shelly Group offers a diverse range of products, including smart switches, plugs, sensors, and energy meters.

These products are designed for easy integration into existing electrical installations. They communicate primarily via Wi-Fi and are compatible with popular smart home platforms such as Google Home, Amazon Alexa, Apple HomeKit, and Home Assistant.

Financial Performance

In 2024, Shelly Group reported a 42.4% increase in revenue, reaching EUR 106.7 million. Earnings Before Interest and Taxes (EBIT) grew by 34.4% to EUR 25.7 million, with an EBIT margin of 24.1%.

The consolidated net profit rose by 36.9% to EUR 23.1 million. The equity ratio slightly decreased from 85.8% to 81.4%, influenced by future rental expenses under IFRS 16. Operating cash flow declined to EUR 2.8 million due to increased working capital investments.

For 2025, the company projects revenue between EUR 145 million and EUR 155 million, with EBIT expected to reach EUR 35-40 million.

Global Presence

Shelly Group operates globally, with offices in Bulgaria, Germany, Slovenia, China, and the United States.

The main headquarters are located in Sofia, Bulgaria, housing the Sales and Marketing teams, Research & Development division, and Shelly Support services. The German office focuses on new market development and supervises the DACH region.

The U.S. office, established in 2019 and based in Las Vegas, Nevada, is responsible for developing the IoT business in North America through direct online sales and partnerships.

Locations in the United States

In the United States, Shelly Group has several offices in California that support its operations and distribution networks:

• Anaheim, CA – Key location for regional support and distribution.
• Signal Hill, CA – Strategic office enhancing operational reach.
• Long Beach, CA – Important hub for coordination and logistics.