Shelly Group, a leading provider of IoT solutions and smart building technologies, delivered another strong performance in the first half of 2025, outpacing the average growth rate in the sector.
For the six months ended in June, revenues rose 29.3% to €54 million, with all regions growing above the market average. EBIT increased to €12.2 million (+12.2%) with a margin of 22.6%. Net profit climbed to €10.2 million, while operating cash flow reached €6.2 million. The equity ratio remained high at 81%, providing a solid foundation for continued expansion.
“We successfully continued our growth story and strengthened our market position. The number of Shelly devices activated in the cloud is rising even faster than revenue, which shows that our products are truly reaching end customers – a strong signal for a positive second half of the year,” commented Wolfgang Kirsch, CEO of Shelly Group.
Growing Global User Base
Today, more than 4.5 million households worldwide use Shelly products. In the past 12 months alone, over 11 million devices were sold, bringing the total to more than 26.5 million. Active users of the Shelly Smart Control app now exceed 2.3 million, with premium subscriptions accelerating strongly.
Expanding Professional Segment
The number of professional installers working with Shelly more than doubled – from 900 at the end of 2024 to 2,400 by June 2025. This professional channel is becoming a key driver of the company’s growth.
International Expansion
German-speaking markets remain the largest contributor, growing by 20.5%. The strongest momentum, however, came from Europe outside DACH (+31.6%) and the rest of the world (+83.7%), with notable progress in Italy, Scandinavia, and the United States.
Outlook
Management reaffirmed its guidance for 2025, expecting revenues between €145–155 million and EBIT in the range of €35–40 million—an impressive increase compared to 2024.
