Shelly Group Plc · BSESOF:SLYG
Shelly — Q1 2024 Earnings Presentation
31 slides from Shelly's earnings presentation, May 16, 2024
Slide 1: Trading Update Q1 24
SHELLY GROUP TRADING UPDATE Qi 24 MAY 16TH, 2024 Explore the POSSIBILITIES
Slide 2: Your speakers today
Your speakers today Wolfgang Kirsch CO-CEO Strategy & Operations Dimitar Dimitrov CO-CEO Research & Development Wolfgang Kirsch CO-CEO Strategy & Operations
Slide 3: We make Smart Building Solutions
We make Smart Building Solutions ...enabling an eco-friendly connected world
Slide 4: Leading Smart Building Platform
Leading Smart Building Platform >100 Countries +14 M* Devices sold —>+5.5 M — Last 12 months +3.0 M* Households a —>+900K — Last 12 months +1.350K * Cloud users —++600K — Last 12 months **since 2018
Slide 5: Q1 24 - Wolfgang Kirsch
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Slide 6: Key Highlights
Key Highlights All KPls, revenue and EBIT targets met Revenue growth above the market in all regions Successful enlargement of distribution channels Significant growth of addressable customer ownership Strategic widening of product portfolio Installer Finder as important step into the professional m
Slide 7: Financial Highlights Q1 22-24
Financial Highlights Q1 22-24 Cin million EUR) Revenue EBIT q CAGR 51.2% 5.3 3.7 2.3 Q122 Q123 Q124 Sustainable & significant above market growth Q1 24 slightly above target Q122 Q123 Q124 EBIT grows in line with revenue EBIT-Margin of 26% is above the 25% mid-term target . 17.2 5.4 | Q122 Q123 Q124
Slide 8: Growing do-it-yourself distribution platform
Growing do-it-yourself distribution platform Verkkokauppa = = Elbutik ManoMano amaZON clei ico WwW wagner Kjell& Company (ay (AR AC R 3% IBJAJUH)AIU/S) & Se, 7, =3 notebooksbilliger.de ° Amazon Direct Vendor Business * Germany since H2 22 * France, Italy, Spain & BeNeLux in 2023 ¢ Australia live in
Slide 9: Growing professional distribution platform
Growing professional distribution platform £8 = > an aes NET® ZANDER-GRUPPE SSH ° First contracts with new electric wholesalers (Pro-Market) in DACH and the Nordics onninenx dyrecime FecGime AO © AG00 traineg.instaliers _ ME Technical School Program in Germany, a Switzerland & the Nordics - +90 scho
Slide 10: The Shelly Installer Finder
The Shelly Installer Finder ° Program started in Germany * Rollout to the Nordics as next step * Other countries will follow step by step
Slide 11: Product
Product Dimitar Dimitrov
Slide 12: Wider product range is one driver for more revenue
Wider product range is one driver for more revenue 85 * ° 2023: 6 Products updated 70 * 21 New products released 3 New product categories ° 2024 YTD: 8 Products updated 15 New products released ° 2024 Outlook: 40-60 Newproducts and product updates 2022 2023 2024 YTD Ne 7 * Excluding Accessories
Slide 13: Shelly factory
Shelly factory ° New factory building opened in Q1 2023 ° Significant increase of production capacity Up to 2x within 3 months ° TUV audit passed with very positive results ° First ,Supply Chain Law” audit passed successfully
Slide 14: Extension of warranty
Extension of warranty ~» J-csesh co Wave PM Mink 110.240 66 s0/60 He aE 280 VAG Shelly High product quality Extension of warranty from H2 2024 3 years for Gen2, Gen3 and Gen4 devices 5 years for Pro devices
Slide 15: Smart Energy
Smart Energy home saving light Solar water Battery heating charging Solar panel Electric car Home charging appliance
Slide 16: Financials - Wolfgang Kirsch
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Slide 17: Financial Highlights Q1 22-24
Financial Highlights Q1 22-24 Cin million EUR) Revenue EBIT q CAGR 51.2% 5.3 3.7 2.3 Q122 Q123 Q124 Sustainable & significant above market growth Q1 24 slightly above target Q122 Q123 Q124 EBIT grows in line with revenue EBIT-Margin of 26% is above the 25% mid-term target . 17.2 5.4 | Q122 Q123 Q124
Slide 18: Regional share and growth
Regional share and growth Gin million EUR) 10.4 72 |G@a5%) DACH 50.9% Q1 23 Q124 7.8 wat 5.8 [G35%) Rest of Europe 38.1% Q1 23 Q1 24 Reid" or 2.2 11.0% ue Q1 23 Q124 Strongest region with proportional development Local structure and new channel policy enables continuous in 2024 and beyond Good devel
Slide 19: Profit & Loss Q1 24
Profit & Loss Q124 Cin million EUR) Period Q123 Q124 [ss Revenue 14.116 20.536 45.5% Gross Profit 7.653 11.404 49.0% Gross Margin 54.2% 55.5% Sales & Marketing -375 -1.588 323.5% &ofRevenue -27% 77% G&A -3.584 ~4.467 24.6% % of Revenue “25.4% 21.8% EBIT 3.694 5.349 44.8% EBIT Margin 26.2% 26.0% Net
Slide 20: Cash Flow
Cash Flow Cin million EUR) 15.7 0.21 -0.92 70.06 -0.025 14.9 * Inventory increased from 9.3 M to 10.8 M ° 1.8 M higher prepayments to factories ° CFl reflects the acquisition of the next 16% of Shelly Tech (GOAP) in January 2024 + investments in R&D ° Equity Ratio of 89.1% Cash CFO CFI CFF FX Cash 3
Slide 21: Guidance vs. Achievement
_ Guidance vs. Achievement
Slide 22: Guidance 2024
Guidance 2024 Cin million EUR) a= 4D 2D aD 19.6% of 2024 target vs. 18.8% in 2023 gf YoY Growth gf EBIT gf EBIT Margin
Slide 23: Summary
Summary Q1 24 Revenue & EBIT above target All regions grow above the market This growth is sustainable — already proven to work outside of DACH Regional expansion From DIY to Professional Market Wider product range supports growth Cloud and premium App as additional potentials ©} Guidance for 2024 (
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Slide 25: Appendix
Slide 26: Investor relations
Investor relations 1st HY events Feb Apr Apr May June 27 24 30 16 4 Q4 2023 MKK Planet Q1 General Meeting Trading Minchner MicroCap Trading of the Update Kapitalmarkt Investors Update Shareholders Konferenz Club Guidance Showcase Update on 2024 Las Vegas Strategy
Slide 27: Investor relations
Investor relations 2d HY events Aug Aug Oct Nov Nov 15 21-22 23-26 14 25-27 H1 HIT Baader Q3 Eigenkapital Trading Hamburger Investment Trading Forum Update Investorentage Conference Update Frankfurt Munich 8 corporate.shelly.com/publications/financial-results/ ‘2 investors@shelly.com 9 103 Cherni Vr
Slide 28: Definitions
Definitions Term Definition Term Definition i stand 5) ‘atorofa ys A EBIT Be Pee a es Tan eons Inorganic | inorganic growth arises from mergers or takeovers rather than an Excluding taxandinterest Growth increase in the company'sown business activity. of earings before interest, taxes, depreciation,
Slide 29: Appendix — Notice to reporting
Appendix — Notice to reporting The following presentation, including any printed or electronic copy of these slides, the talks given by the presenters, the information communicated during any delivery of the presentation and any question and answer session and any document or material distributed at
Slide 30: Investor relations
Investor relations Swlo ll Shelly PM Mini Gen3 ail 110-240 VAC, 50/60 Hz ome max, 16 A/ 3840 W @ 240 VA Sholly GD Denitsa Georgieva Investor Relations Officer investors@shelly.com
Slide 31: Shelly Group
SHELLY GROUP S