Shelly Group SE, a provider of IoT and smart building solutions based in Sofia, Bulgaria, will be included in Germany's SDAX index effective April 10, 2026, as announced by index provider STOXX. The SDAX comprises the 70 largest companies in the German equity market below the DAX and MDAX, based on free float market capitalization and trading volume. This inclusion makes Shelly Group the first Bulgarian company to become part of the DAX index family.
The company's inclusion in the SDAX results from its consistently executed capital markets strategy. With its secondary listing in the Prime Standard of the Frankfurt Stock Exchange in November 2021, the commencement of trading on XETRA in April 2024, and targeted increases in free float through placements by company founders, Shelly Group has systematically built the foundation for index inclusion. The company now meets the relevant criteria for entry into the SDAX, marking a significant achievement in its financial market positioning.
Dimitar Dimitrov, Co-CEO and Co-Founder of Shelly Group SE, commented that the inclusion marks a significant milestone for the company and confirms the consistent execution of its growth and capital markets strategy. He noted that when the company first set this goal, it was ambitious, making the achievement particularly meaningful. Dimitrov expressed pride in Shelly Group being the first Bulgarian company admitted to trading on XETRA and now also the first Bulgarian company included in the SDAX.
Wolfgang Kirsch, Co-CEO of Shelly Group SE, added that with inclusion in the SDAX, Shelly enters a new phase in its capital markets development. The increased visibility among institutional investors and inclusion in index-based investment strategies are expected to further enhance the liquidity of the company's shares. Kirsch noted that over past years, the company deliberately worked to create prerequisites for a broader international investor base and to strengthen Shelly Group's positioning in European capital markets. He views the index inclusion as validation of operational progress and as an incentive to continue executing on the company's growth trajectory.
Shelly Group is among dynamically growing providers of smart home and building automation solutions worldwide. In the 2025 financial year, the company generated consolidated revenues of EUR 149.7 million, representing growth of more than 40% year-over-year. For 2026, Shelly Group expects revenues in the range of EUR 195 million to EUR 205 million, continuing its growth trajectory. The company develops, designs, and distributes IoT and smart building solutions for DIY and professional users, offering advanced technology, seamless interoperability, and technological flexibility.
Shelly products enable remote control and automation as well as energy management of electrical appliances and smart building solutions via smartphones, PCs, or third-party home automation systems. In addition to device sales, the company generates revenue from cloud applications and benefits from asset-light production through contract manufacturers. Shelly Group has a strong presence in German-speaking countries and represents its products in more than 100 countries, with sales organizations in multiple regions including DACH, Benelux, Nordics, Iberia, Poland, Italy, France, the United Kingdom, Bulgaria, Slovenia, the United States, and China. More information about the company's investor relations can be found at https://www.crossalliance.de.
