Paris, April 25 2013 – Sales for the 1st quarter of 2013

• Q1 sales stable at €15.9 million
• Strong growth in international activity (+26%)
• High level of orders taken (644 stores)

Store Electronic Systems (NYSE Euronext: SESL, FR0010282822), leader in Electronic Shelf Labeling (ESL) systems for food and non-food retail, today announces its sales for the first quarter of 2013.

Over the first quarter of 2013, SES recorded sales of €15.9 million, identical to the first quarter of 2012. 175 stores were fitted out over the period. Activity continued to be driven by international sales, which increased by +26% to €5.9 million. In France, where the economic situation remained difficult, SES recorded sales of €10 million, down 10% on the record quarter of Q1 2012 (€11.2 million) but up +20% on the previous quarter. The international sales dynamic intensified, with major contracts signed and an increase in the number of orders taken. SES is confident that it will meet its target of recording higher growth in 2013 than it did in 2012.

Sales upturn in France

The economic situation remained difficult in France over the first quarter, but SES successfully launched a sales offensive to reverse the final quarter of 2012’s downward trend. Quarterly sales thus came to €10 million, higher than during the three previous quarters and up +20% on Q4 2012. However, sales were down compared with the first quarter of 2012, which was a record quarter for SES with sales totaling €11.2 million, notably driven by the Monoprix and Jardiland deployments. In France, SES strengthened its positions on a flat and highly-competitive market with a further 96 stores fitted out. Activity generated by the installed base remained stable despite an economic situation that led retailers to reduce their spending.

Buoyant international momentum

Abroad, SES continued to record buoyant growth (+26%) with sales totaling €5.9 million over the quarter. All segments of activity – new installations, maintenance and renewals – were up. Latin America and Asia notably contributed to this result thanks to the sales and marketing efforts undertaken in recent months to develop these markets. Furthermore, the portfolio of sales opportunities has seen significant growth across all the regions targeted by SES within the framework of its Expand program.

Record orders taken

SES has reaffirmed its positive sales dynamic with a substantial increase in orders taken over the 1st quarter of 2013, notably driven by international activity with the signing of two major contracts:

• In Singapore, the deployment of the NTUC group’s FairPrice stores, the first significant deployment of electronic shelf tags in Southeast Asia,
• l In Scandinavia, the comprehensive deployment of a leading supermarket chain (2.5 million G-tag+ shelf labels), the world’s largest graphic technology deployment to date.

All in all, orders were taken for 644 stores over the quarter, a jump of 254% compared to the same period of 2012.

Assessing the Company’s first quarter, Thierry Gadou says: “SES is continuing to pursue its accelerated innovation and globalization policy. Despite a negative economic context on some markets, we again recorded buoyant international growth over the first quarter. In France, sales saw a significant upturn compared to the previous quarter, and the major successes recorded in Northern Europe and Asia in recent months reflect the competitiveness of our offer around the world which we intend to strengthen through further innovation. We are confident that this international momentum will continue over the coming quarters and that we will meet our target of achieving higher growth in 2013 than we did in 2012.”

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Sales for the 1st half of 2013: July 31, 2013 (before market)

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Paris, April 18 2013 – Pascale Dubreuil appointed Chief Financial Officer

Store Electronic Systems (NYSE Euronext: SESL FR0010282822A), leader in Electronic Shelf Labeling (ESL) systems for large-scale food and non-food retailers, announces the appointment of Pascale Dubreuil as the Group’s Chief Financial Officer, replacing Michel Boyer. As a member of the Group’s Management Committee, Pascale Dubreuil will report directly to Chief Executive Officer Thierry Gadou.

Within SES, Pascale will be responsible for steering a new wave of growth and internationalization. Following a Masters from Paris IX Dauphine University and an MBA from HEC, Pascale began her career in 1991 within the LAFARGE group. 10 years later she joined the MATERIS group, an LBO spin-off from LAFARGE. At MATERIS, between 2001 and 2010 Pascale successively held the positions of Chief Financial Officer and Head of Development for the Chryso Group that, thanks to buoyant organic and external growth (this group tripled its revenue over the last decade to become a global leader with a presence in 70 countries through its 14 subsidiaries around the world), has become a global leader in concrete and cement admixtures. Since 2011, Pascale had been CFO of the Zolpan group, €220m, a paint manufacturer and distributor, a subsidiary of Materis Peintures.

Next press release: Sales for the 1st quarter of 2013 will be published on April 25, 2013

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Paris, April 15, 2013 – One of the leading Scandinavian retailers choses SES and Wincor-Nixdorf for the world's largest implementation of graphic shelf labels

Store Electronic Systems (NYSE Euronext: SESL FR0010282822A), leader in retail electronic labeling systems, has signed one of the largest contracts in its history in Northern Europe.

One of the leading Scandinavian retail groups has chosen SES and Wincor-Nixdorf to equip the entirety of its main retail supermarket chain with the latest-generation of graphic electronic shelf labels (G-tag+).

This contract is the most significant deployment of graphic technology in the world (2.5 million ESLs) and recognizes the technological advances made by SES in the field of high resolution HD and dynamic promotional displays (based on TFT Dual-Transistor Pixel technology, for which SES holds the worldwide patent). These labels notably offer enhanced capacities in terms of store-shelf customer communication well beyond simply displaying prices.

Innovation supporting international expansion

After international growth of +64% in the 4th quarter of 2012 and a few weeks after announcing the first significant roll-out of electronic shelf labels in South-East Asia (Fairprice contract), this major contract in Northern Europe confirms SES as the global ESL leader.

Thierry Gadou, SES CEO, concludes: " After the Dansk deployment in 2010 and 2011, this new win confirms our strong position in Scandinavia, a region where retail is being equipped with electronic labels at a sustained pace. This success rewards our strategy of innovation and international acceleration. SES is taking a decisive lead in full graphic ESL large scale implementation. Moreover, by converting pilot into roll-out in less in less than 6 months, this project also underlines the performance of our new organization. "

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Total sales for the 1st quarter of 2013: Thursday, April 25, 2013

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Paris, March 19, 2013 – Store Electronic Systems installs its ESL solution in more than 90 supermarkets at leading chain FairPrice in Singapore

Store Electronic Systems (NYSE, Euronext: SESL, FR0010282822A), market leader in electronic labeling systems for retailers, announced today that its solution has again been selected by one of Singapore’s largest supermarket retailers, NTUC Fairprice Co-operative Limited. SESL’s electronic labeling systems will be installed in more than 90 FairPrice supermarkets and hypermarkets, which represent the vast majority of its stores by early 2014.

NTUC-FairPrice

NTUC Fairprice Co-operative Ltd was founded by the labour movement in 1973, with a social mission to moderate the cost of living in Singapore. From one supermarket, it has grown to become Singapore’s largest retailer serving about 400,000 shoppers daily, with a network of over 110 outlets, comprising FairPrice supermarkets, FairPrice Finest and FairPriceXtra. Its convenience stores, FairPrice Xpress and Cheers, has a network spanning some 160 convenience stores islandwide and serves over 100,000 customers daily. NTUC FairPrice also owns a Fresh Food Distribution Centre and a centralised warehousing and distribution company.

Today, with its multiple retail formats serving the varied needs and interests of people from all walks of life, NTUC FairPrice has kept pace with the changing needs of its customers while remaining committed to its social mission and its aspiration to be Singapore’s leading world-class retailer with a heart.

A relationship of confidence based on a long cooperation between FairPrice and SES

In 2010, FairPrice began exploring electronic shelf labeling to enhance customer service, increase productivity and reduce operating costs. In 2011 after an evaluation of the various solutions available in the market, FairPrice trialed the SES system in its store at Clementi Mall (FairPrice Finest). Within a few months of the pilot program, the SES system had generated a rapid return on investment that convinced FairPrice to continue the trial in other store formats (hypermarkets, supermarkets, minimarkets, 24-hour stores and high-end stores). In 2012, SES won the first contract and installed 20 stores in addition to the first pilots. FairPrice then decided to proceed with the roll-out and after consulting the market, retained SES as exclusive supplier to roll out its solution in 70 additional stores. These installations make FairPrice the best equipped supermarket chain in Asia, and pave the way for a cutting-edge retail environment that is more customerfriendly and more efficient for store managers given the restrictive local labor market.

SES will deploy in FairPrice stores its complete range of innovative solutions including the S-tag (a segmented ESL) and the G-tag + (a graphic ESL with HD screens with dynamic displays).

A first in South East Asia

This roll-out of Electronic Shelf Labels (ESL) is a first in South East Asia (ASEAN) within a leading retail chain in this fast growing industry with a high market potential.

Mr Gerry Lee, Managing Director (Business Groups), NTUC FairPrice, said,"The laborious manual shelf labels have been replaced by electronic shelf labels in over 20 stores so far and we are targeting to have another 70 over stores installed with this system by end this year. This would mean almost all our FairPrice stores will use this system. We have found much value in this system as it has improved shelf price labeling efficiency by six times and also led to higher level of accurate displayed prices which translates to higher customer satisfaction levels. »

An efficient partnership

SES has been operating directly in Singapore and Asia for seven years and, with its local partner John Chen Pte Ltd, has climbed to the top of the ESL market there. In 2013, SES will be stepping up its presence in the region by tripling its workforce across all activities (marketing, installation and customer service).

Thierry GADOU, CEO of Store Electronic Systems declares:"By launching our subsidiary in Singapore, we understood the leading role of Singapore and its status as technological leader for the Asia-Pacific area. I am impressed by the visionary planning and operational understanding of NTUC FairPrice. SES is proud to have gained and retained the confidence of such a demanding customer. This roll-out is the best proof of the bright future of SES in Asia. Thanks to its visibility, this roll-out will help us in our regional development as we already have several pilots in process in neighboring countries »

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2012 annual results: April 25th, 2013

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Paris, March 18 2013 – 2012 annual results: a year of transformation and conquests

• 2012 annual results: a year of transformation and conquests
• Buoyant international growth: 23% in H2
• Profitability impacted by growth investments and transformation
• Intensification of R&D investments
• Net cash position of €25 million

Store Electronic Systems (NYSE Euronext: SESL, FR0010282822), leader in Electronic Shelf Labeling (ESL) systems for large-scale food and non-food retailers, today announces its full year results to December 31, 2012.

2012 was a year of transformation for SES on all fronts: innovation, international, quality and operating performance. The Group has returned to a position of strength with a renovated and competitive product range including a number of innovations. SES recorded sales of €63 million in 2012, up 7% on the year, driven essentially by international sales, which increased by 11% to €24.2 million and thus accounted for 38% of total sales. As expected, the 2nd half operating margin was at a similar level to that of the 1st half, representing 9% of annual sales. Profitability was impacted by 1/ international expansion and operational improvement projects, 2/ pricing pressure in France and Southern Europe, 3/ a negative forex variation 4/ non-recurrent elements and tax on the stock option plan and performance shares granted to staff.
For 2013, despite the ongoing difficult economic situation in Europe in early 2012, SES’s target is to record higher growth and profitability than in 2012.

Growth in activity, both in France (+4%) and abroad (+11%)

In 2012, SES increased its market share in France and abroad and recorded sales of €63 million, an increase of 7%, thus reaching its highest-ever level in terms of both sales and the number of stores fitted out over the period (891). Maintenance and renewal sales totaled €25.2 million, or 40% of total sales, an increase of 9% over the year.

In France, sales recorded moderate growth of 4% to €39 million, within a particularly difficult economic environment at the end of the year that led supermarkets and hypermarkets to reduce or postpone their expenditure. This pressure on volumes also resulted in a considerable intensification in competition on prices and pressure on margins.

International sales grew by 11% to €24.2 million over the year, thanks to a strong H2 (+23%) driven by sales in the Americas and other regions outside Europe. The Group thus reaped the initial rewards of its international expansion plan launched at the start of 2012 in order to rapidly expand its coverage and prospection means in high-potential regions: Northern and Eastern Europe, the Americas and the Asia-Pacific region. SES also intensified its cooperation with targeted strategic partners. In 2012, the number of stores outfitted abroad exceeded the number outfitted in France (528 vs. 363), taking the number to more than 2,100 abroad, or 40% of the Group total (5,300). All in all, this buoyant growth outside Europe more than offset the effects of the difficult economic situation in Europe, notably in France and Southern Europe, markets that still accounted for 75% of total sales.

Profitability impacted by growth investments and transformation

Despite a satisfactory year in terms of activity, the Group recorded a similar profitability level over the two halves, with a 2012 operating margin of 9%. This profitability level was due to 3 factors:

The cost of the strategic transformation plan

• International expansion: increase in dedicated marketing and technical resources
• Strengthening of the Group’s organization and the program to improve its performance and operational quality
• Participation of all staff in the Group’s development through the attribution of stock options and performance shares (costing €0.3 million in tax and social charges)

Pressure on prices and margins

• Effects of the difficult competitive and pricing environment in France and Southern Europe
• Negative forex variation

Exceptional charges (governance) and non-recurrent provisions relating to inventories and client accounts

Intensification of R&D investments

SES intensified its R&D investments in 2012 (€5.7 million before Research Tax Credit) in order to strengthen its technological positioning and its strategic assets, notably thanks to a renovated product range and major innovations: dynamic display HD screen range, NFC-tag and mobileshopping solution, new software platform, wireless infrastructure. Numerous other technological projects are currently underway in order to accentuate SES’ strategic and competitive leadership.

Financial structure: net cash position of €25 million

SES has no debt and had a net cash position of €24.7 million at December 31 2012, compared with €34 million at the end of 2011. This decrease was notably the result of the Group’s R&D investments (€5.7 million), the payment of an exceptional dividend of €5.5 million and share buybacks of €0.4 million.

Working Capital Requirements stood at €31.1 million over the period, a slight increase of +€1.5 million compared with 2011, and thus represented 49% of sales versus 50% in 2011. Furthermore, the level of WCR stabilized over the 2nd half of the year compared with the 1st half, thanks to the initial results of a program to improve control over inventories and client receivables. Within this context, the +€2.7 million increase in inventories was essentially due to the creation of a regional software platform in Mexico and the higher cost of new products. The increase in client receivables was the result of the high level of sales recorded in Q4, whilst at the same time SES has significantly reduced its outstanding arrears (-€3 million i.e. -32%).

2013 outlook: higher growth and profitability than in 2012

2013 is seeing a pursuance of the strategic plan’s priorities: innovation, internationalization and industrialization.

Thierry Gadou, CEO and Chairman of SES, says: « 2012 was a year of transformation on all fronts. In terms of innovation, SES is back at the forefront, notably via our G-Tag+ NFC-tag graphics range, currently the most-advanced product on the market. At a time when contactless technology is on the verge of becoming the next major technological wave, our gamble on NFC is being acknowledged as visionary, and a number of new retail chains have already come onboard this path to the future. Moreover, other R&D projects are currently being developed to accentuate our competitive advantage in every area of the offer (wireless, ESL and software).

Beyond these unrivalled innovation efforts in this sector, SES has also strengthened its organization and launched an ambitious international expansion and operational transformation plan aimed at achieving a high level of industrialization, quality and scalability, another key factor for success in a market that will record substantial global growth over the coming 5 years.

For 2013, despite the fact that the European economic situation remains difficult in this early part of the year, we have confidence in the prospects of the global ESL market and the growth drivers put in place in 2012. We are targeting higher growth than in 2012, driven by international activity, and higher profitability from the 2nd half of the year onwards, thanks to the combined effects of growth, increased differentiation and better operating productivity.”

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Sales for the 1st quarter of 2013 will be published on April 25, 2013

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Paris, January 30th, 2013 – 2012 annual sales: €63m (+7%)

• Record sales of €17.5m (+9%) in Q4, best quarter in company history
• Strong international sales (+64%)
• Unfavorable market in terms of volume and price in France
• 2012 annual sales up (+7%) both in France (+4%) and abroad (+11%)
• Acceleration in the international expansion and transformation plan
• H2 profitability expected to be similar to the 1st half due to growth investments and pricing pressure

Store Electronic Systems (NYSE Euronext: SESL, FR0010282822), leader in Electronic Shelf Labeling (ESL) systems for large-scale food and non-food retailers, today announces its sales for the 4th quarter and full year to December 31, 2012.

SES recorded sales of €17.5 million in the 4th quarter of 2012, up 9% on the final quarter of 2011, driven essentially by international sales which were up +64% reaching €9.2 million. The Company is reaping the first rewards of its international expansion plan, notably in regions outside Europe. In the 4th quarter, France was penalized by a difficult economic situation that led to a fall in volumes and prices, as in all of Southern Europe.
The 2nd half of the year saw sales of €32.2 million, up 5% (vs. H2 2011). 2012 annual sales totaled €63 million, an increase of 7%. Both French sales and international sales grew over the year.
SES is revising its previous forecast of higher profitability in the 2nd half than in the 1st half. the Company’s profitability remained under pressure in the 2nd half because of substantial pricing pressure and the acceleration of the international expansion and operational improvement plan. Profitability is thus expected to be in line with that recorded in the 1st half of the year.
Benefiting from the work undertaken, SES can now capitalize on new international growth drivers, an innovative and competitive offer and a more efficient organization. Despite the ongoing difficult economic situation in Europe, SES’ target is to record higher growth and profitability in 2013 than in 2012.

Buoyant growth in international sales in Q4

SES recorded sales of €17,5 million in the 4th quarter of 2012, up 11% on the same quarter of 2011 (€16 million), thus representing the Company’s highest quarterly sales to date. This performance was achieved through increased international sales, which were up +64% at €9.2 million.

Growth was notably driven by the Americas (both North and South) and, more generally, by regions outside Europe. SES is thus reaping the initial rewards of its international expansion plan (the “Expand” program) launched at the start of the year in order to broaden its country portfolio and better balance it in terms of market potential and economic situation. SES can already base its international development on a number of high-potential new countries outside Europe. Furthermore, with the operational improvement efforts undertaken by the Company, a number of new chains came onboard in 2012 and have rapidly moved from successful pilot programs to first deployment phases.

The buoyant growth outside Europe more than offset the effects of the difficult economic situation in Europe, notably seen in France and Southern Europe.

CA T4 en forte croissance à l’international

SES a réalisé au 4ème trimestre un CA de 17,5 M€ en progression de 11% par rapport au 4ème trimestre 2011 (16 M€). Il s’agit du meilleur CA trimestriel de l’entreprise à ce jour. Cette performance a été réalisée grâce à l’international qui progresse de +64% à 9,2 M€ (contre 5,6 M€).

La croissance a été tirée notamment par le continent américain (nord et sud) et d’une manière générale par les zones hors Europe. SES recueille ainsi les premiers fruits de son plan d’expansion internationale (programme « Expand ») lancé en début d’année afin d’élargir le portefeuille de pays et de mieux l’équilibrer en terme de potentiel de marché et de conjoncture économique. SES peut d’ores et déjà appuyer son développement international sur plusieurs nouveaux pays à fort potentiel hors d’Europe. En outre, grâce aux efforts d’amélioration opérationnelle, plusieurs nouvelles enseignes gagnées en 2012 sont passées rapidement de pilotes réussis à des premières phases de déploiement.

La forte croissance hors Europe a plus que compensé les effets de la conjoncture difficile en Europe et particulièrement en France et en Europe du sud.

France penalized by a difficult economic situation in the 4th quarter

Contrary to previous quarters, the French market proved unfavorable in the 4th quarter. SES recorded sales of €8.3 million on its domestic market, a decrease of -20% compared with the final quarter of 2011. Volumes were down in terms of both new stores and re-assortment as supermarkets and hypermarkets reduced or postponed their expenditures. This pressure on volumes also resulted in intensified price competition and margin pressure.

SES did, however, strengthen its domestic market leadership through a number of significant successes:

• Pilot programs signed with three food and non-food chains
• The successful launch of the NFC-tag range with E. Leclerc.8 hypermarkets had committed by end December, just 2 months after the first store pilot.

However, these successes only had a limited impact on 4th quarter sales because of the time required to supply and fit out stores.

SES also strengthened its Corporate Account teams in France and signed a number of co-innovation partnerships with major chains to develop new solutions.

2nd half sales: +5% to €32.2 million

Over the 2nd half, SES recorded total sales of €32.2 million, up +5% on the same period of 2011. International sales increased by +23% compared with the 2nd half of 2011, whilst sales in France were down -6%.

2012 annual sales: €63 million, up +7%

For 2012 as a whole, SES recorded total sales of €63 million, an increase of +7% compared with 2011. Activity grew in both France (+4%) and abroad (+11%). Sales linked to maintenance, services and swap reached €25,2 million (+9%) and represented 40% of the activity.

SES installed 891 stores in 2012, up 5% vs.2011. The number of stores installed abroad exceeded France (526 vs 365).

In 2012, new order intake reached 1064 stores, an increase of +37% over the previous year.

H2 profitability expected to be similar to the 1st half

SES is revising its previous forecast of higher 2nd half profitability versus the 1st half. Indeed, despite the absence of the exceptional expenses that affected 1st half results, the Company’s profitability remained under pressure in the 2nd half because of substantial pricing pressure and the acceleration of the international expansion and the operational improvement plans.

• Pricing pressure in some regions: prices came under substantial pressure in France and Southern Europe where contracts were scarcer and more fought-over than in the 1st half because of the difficult economic situation. This price erosion was not offset by lower costs because of the persistent negative currency impact (as was the case in the 1st half) and the time required to record the benefits of the Sourcing program launched at the start of the year.
• Acceleration in the transformation and international expansion plan: the +29% increase in international sales over the 2nd half was made possible due to the strengthening of the marketing and operational resources devoted to international development with the recruitment of business engineers, project managers and integration, support and technical assistance teams. Indeed, prospecting and developing new regions is complicated to manage because the numerous pilot schemes that represent the bulk of activity at the start require intensive technical and marketing support. The distances and various languages involved further accentuate the need for specific resources. Lastly, rapidly winning over the first customer references in new territories requires initial pricing efforts to initiate and accelerate sales.
• These international efforts, as well as the strengthening of the Company’s organization and other work undertaken to ensure operational improvements (processes, IT systems, quality, security) are temporarily weighing on profitability. Combined with an intensification in pricing competition in some regions, this should result in 2nd half operating profit (EBIT) being similar to that recorded in the 1st half.

2013 outlook

2013 will see a continuation in the implementation of the strategic plan focusing on four priorities: international acceleration, innovation, quality and competitiveness. Despite the ongoing poor economic situation in France and Europe, SES is targeting higher growth and profitability than in 2012. In 2013 SES will be able to capitalize on the improvement in its product & service range and its many recent and upcoming innovations on all of its markets,. The Sourcing program will help protect margins from pricing pressure for some markets.

Thierry Gadou, CEO and Chairman of SES, says:

“2012 was a year of intense change on all fronts: innovation, international activity, quality and operational performance. In terms of its offer, SES is clearly back in pole position with a competitive and revamped range incorporating major innovations (dynamic display HD screens, NFC-tag and mobile-shopping solutions a new web server platform, etc.) Other projects are currently ongoing in order to accentuate our product benefits.

In operational terms, substantial work has been carried out and SES is already working with a strengthened organization and more efficient processes. Further efforts will be needed in 2013 regarding our IT systems, which are the key to scalability and future productivity.

Abroad, we have significantly increased our sales outside Europe and can rely on a number of new countries with substantial potential. Following Latin America, the Asia-Pacific region and Northern Europe, we are now seriously attacking the North American market as we just announced at the NRF’s ‘Retail Big Show’ in New York. These international expansion efforts represent investments for the future that will, once critical size is achieved, generate a satisfactory level of profitability.

Given its size and maturity, the French market is highly competitive. This dynamic is negatively affecting prices, especially as volumes are lower due to the difficult economic situation. However, despite disappointing 4th quarter sales, SES saw activity grow over the year in France. Indeed, in 2012 we won over a number of new chains and further increased the trust of our clients thanks to the major efforts we have undertaken in innovation and quality of service. French retailers are sophisticated and demanding clients and we intend to continue increasing our market share by outperforming our peers.

The economic situation remains difficult in Europe but we aim to achieve in 2013 higher growth and profitability than in 2012 and strengthen our world leadership. We also intend to improve our profitability from the second half of the year thanks to the combined effects of growth, increased differentiation and better operating productivity.

Nous entendons également améliorer notre rentabilité à partir du second semestre grâce aux effets conjugués de la croissance, d’une différenciation accrue et d’une meilleure productivité opérationnelle.

SES has emerged from this transitional year stronger and more dynamic than ever, with the restored image of an innovative and all-conquering company. The major competitive advantage that we are building today is the speed at which we can move forward and the motivation of our teams.”

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2012 annual results: March 18th, 2013

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Paris,  14th january 2013 – New Head of North America 

In order to strengthen its position in the Global ESL Industry, Store Electronic Systems (SES), world leader in electronic shelf labeling systems for the large-scale retail sector, is pleased to announce the appointment of Charles Jackson as a new member of the Executive Committee in charge of North America and Global Strategy & Business Development.  

North America is now part of SES’ strategic imperative and this area will play a critical role in overall development. Following SES’ first successes in this market, Charles will be joining a growing North American team. Under Charles leadership, SES will continue to make investments to further build the organization and help define solution adaptation and bring new innovations that are relevant to this retail market.

Charles will also have a second responsibility. SES's activities are expanding rapidly and as the SVP in charge of Strategy & Business Development, Charles will be responsible for identifying and leading strategic business alliances and development opportunities including acquisitions.

« I am delighted to welcome Charles. He is a recognized executive with more than 25 years of international experience within the retail and telecom industry, and comes from Pricer AB, where he served as President & CEO. It is a big step forward in our strategic and business development capabilities and it clearly makes sense to give him the dual responsibilities, given his background and origins, »said Thierry Gadou, President & CEO of SES.

Charles, 49 years old, is a senior executive with an impressive record of innovation, business transformation and growth. Most recently, he was the President and CEO of Pricer AB (PRIC B), securing its first profitable years since start up and extending its reach worldwide. From 2002 to 2007, Charles served as Vice President of sales and marketing directing the company’s most significant growth phase. Prior to this, Charles has held leadership and executive roles encompassing multiple industries and geographies.

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Paris, 2012 December 20th – Store Electronic Systems will equip 6 new Leclerc hypermarkets with its NFC labels

Store Electronic Systems (SES), world leader in electronic shelf labeling systems for the largescale retail sector, announced today that it will soon equip six new Leclerc hypermarkets with its NFC-tag system, an electronic label providing contactless communication with the consumer's smartphone.

This announcement comes only weeks after the E.Leclerc Levallois So Ouest Centre opened to the public; this is the first hypermarket in the world to be fully equipped with this revolutionary new technology, with 47,000 SES NFC-tag electronic labels.

A French innovation that won several awards in 2012

Developed and patented by Store Electronic Systems, a French company based at Argenteuil, the NFC-tag is an electronic shelf label with a high definition graphic screen (127 dpi), with a dynamic display and high-speed radio transmission (RFX4). This label is fitted with a built-in NFC chip to provide contactless communication with the consumer's smartphone, making it possible to access a mass of information about products on the shelf through a cell phone: detailed information about the composition, origin and manufacturing of products, warnings about possible allergens, building up the shopping basket and tracking cost in real time.

This innovation first won an award in September 2012 at the leading French retail trade show, Equipmag, receiving the Gold award in the Shopper Experience category. Then, during the 33rd LSA Innovation Awards in December 2012, it won the 1st prize for 'Store Equipment'. These two awards mark the interest and recognition shown by retail professionals in this innovative shelfbased interactive medium.

« With the NFC-tag, the electronic label, which is already a tool for productivity and flexibility, also becomes a communication and marketing tool closer to the point of purchase. It's just like there was a salesperson next to each product to inform and advise them. We are only at the beginning of the uses and applications, but they will develop rapidly », says Thierry Gadou, President of Store Electronic Systems.

Rapid take up of an innovation

The commercial launch held at the end of the year confirms the potential of seeing rapid adoption of this innovation, which profoundly changes the added value of electronic labeling. Just a few weeks after its launch at the E.Leclerc Levallois Centre, six new hypermarkets have already chosen SES's NFC-tag technology to be installed soon. This movement should expand and accelerate during 2013.

« We are in the industrialization phase for production of these NFC electronic labels and hope quickly to pass the first million units produced in our factories », says Philippe Bottine, Store Electronic Systems Chief Technical Officer.

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Paris, le 20 décembre 2012 – Store Electronic Systems will equip 6 new Leclerc hypermarkets with its NFC labels

Store Electronic Systems (SES), world leader in electronic shelf labeling systems for the largescale retail sector, announced today that it will soon equip six new Leclerc hypermarkets with its NFC-tag system, an electronic label providing contactless communication with the consumer's smartphone.

This announcement comes only weeks after the E.Leclerc Levallois So Ouest Centre opened to the public; this is the first hypermarket in the world to be fully equipped with this revolutionary new technology, with 47,000 SES NFC-tag electronic labels.

A French innovation that won several awards in 2012

Developed and patented by Store Electronic Systems, a French company based at Argenteuil, the NFC-tag is an electronic shelf label with a high definition graphic screen (127 dpi), with a dynamic display and high-speed radio transmission (RFX4). This label is fitted with a built-in NFC chip to provide contactless communication with the consumer's smartphone, making it possible to access a mass of information about products on the shelf through a cell phone: detailed information about the composition, origin and manufacturing of products, warnings about possible allergens, building up the shopping basket and tracking cost in real time.

This innovation first won an award in September 2012 at the leading French retail trade show, Equipmag, receiving the Gold award in the Shopper Experience category. Then, during the 33rd LSA Innovation Awards in December 2012, it won the 1st prize for 'Store Equipment'. These two awards mark the interest and recognition shown by retail professionals in this innovative shelfbased interactive medium.

« With the NFC-tag, the electronic label, which is already a tool for productivity and flexibility, also becomes a communication and marketing tool closer to the point of purchase. It's just like there was a salesperson next to each product to inform and advise them. We are only at the beginning of the uses and applications, but they will develop rapidly », says Thierry Gadou, President of Store Electronic Systems.

Rapid take up of an innovation

Store Electronic Systems is listed on Compartment C of Euronext™ Paris.

Mnemonic: SESL ISIN codes: FR0010282822 - Reuters: SESL.PA - Bloomberg: SESL.FP

www.store-electronic-systems.com

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