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  • H1 2014 sales of €40.4 million, up +16% Thursday 31 July - 10:35
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    Paris, July 31, 2014 – H1 2014 sales of €40.4 million, up +16%

     

    • Half-year international growth: +32%
    • Return to growth in France (+5%) thanks to a significant rally in Q2 (+14%)
    • Buoyant orders taken over the half: €47 million (book-to-bill ratio of 116%)
    • SES is winning market share and increasing its leadership

    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 2nd quarter and 1st half of 2014.

     

    Sales ( millions) France International Total
    Q1 2013 10,0 5,9 15,9
    Q1 2014 9,6 9,8 19,4
    % change -4% +66% +22%
    Q2 2013 10,2 8,7 18,9
    Q2 2014 11,5 9,5 21
    % change +14% +9% +11%
    H1 2013 20,2 14,6 34,8
    H1 2014 21,1 19,3 40,4
    %change +5% +32% +16%
           

     

    Growth in France and abroad

    SES recorded sales of €21 million over the Q2 of 2014, up +11% (vs. Q2 2013). Activity grew both in France (+14%) and internationally (+9%).

    Over the first half of the year, SES recorded consolidated sales of €40.4 million, up +16% on H1 2013 despite there being no major deployments initiated over the period. Organic growth was +14% excluding Imagotag, whose contribution to consolidated sales in June was €0.9 million. Activity was up both abroad (+32%) and in France (+5%). The number of stores fitted out around the world currently stands at more than 7,000.

    The solid order book in France and abroad (€47 million, giving a Book-to bill ratio of 116%) and good control of margins over the 1st half support our forecast of growth and higher profitability over 2014 as a whole.

    Renewed growth in France

    With sales totaling €11.5 million over the Q2 of 2014, SES recorded growth of +14% and therefore saw its best quarter in France since early 2013. Over the first six months of the year, growth was +5% compared with H1 2013 and +17% compared with H2 2013. Despite a rather negative economic situation for retail sector investments, SES recorded an excellent sales performance, notably among independent networks whose orders have risen significantly since the start of the year.

    Innovation also drove the Company’s growth, inciting more and more stores to modernize their equipment and migrate towards the new range of interactive dynamic graphic labels (G-tag+ NFC), in order to intensify their labels' sales performance (impact of promotions) and develop new applications for internal or consumer use.

    SES’ efforts to develop the non-food sector are also bearing fruit with sales to drugstores, a high-potential sector in France and elsewhere around the world, doubling. New chains of stores in the DIY, gardening and electronics sectors have also started working with SES, fitting out stores during the H1 of 2014.

    Sales of services increased thanks to the efforts undertaken in terms of the quality of service achieved within the framework of the i3 program. SES should soon receive ISO 9001 certification for its after-sales service activity.

    Driven by the increase in orders taken over the half, this growth momentum should continue in France over the 2nd half of the year.

    Further international growth (+32% over the 1st half)

    SES recorded international growth of +32% over the half, despite more moderate growth in the Q2 (+9%) due to a slowdown in investment decision processes and some projects being pushed back.

    There was a strong growth across Europe, where SES has continued its deployments and has won new clients in Eastern Europe (notably in Russia, Poland and Slovakia), Northern Europe (Scandinavia, Germany) and Southern Europe. SES is now active, either directly or via a solid network of partners, in almost all European countries.

    Sales outside Europe (the Americas, Asia, Pacific) accounted for just under 15% of all international sales. SES is continuing the Wal-Mart deployment in Argentina, albeit at a slightly slower pace due to the government’s currency restrictions. In Asia, initial installations have been carried out in Taiwan and new clients have come onboard in Singapore. In the US, SES is continuing to fit out pilot stores and to sign major partnerships thanks to which SES’ presence and visibility in the region is growing rapidly.

    With Imagotag, a new European group

    The first half of the year also saw the acquisition of Imagotag, enabling the new group to offer the most comprehensive and technologically-advanced range of electronic shelf labeling solutions.

    Following the Shareholders’ Meeting of May 21, the consolidation of the Group’s new scope in its accounts came into effect in June. Imagotag’s contribution to the Group’s consolidated sales was €860 thousand in H1 (this figure would be €1.5 million, consolidated pro forma, taking the whole of 1H into account), with its activity mainly focusing on operational pilot schemes.

    Over the 1st half, Imagotag continued to intensify its cooperation with a number of mass retailers in Germany, successfully fitting out additional stores. New pilot schemes have been signed in Central Europe, Russia and the United Kingdom. This installed base of successful pilot schemes with close to ten chains of stores represents substantial potential regarding future deployments. One of Germany’s leading chains already began an initial deployment phase at the end of the 1st half. These developments reaffirm previous forecasts of sales of more than €5 million in FY 2014.

    Technological synergy projects between the two companies are making good progress: SES has already finalized the development of its new radio frequency unit (RFU) infrastructure enabling its clients, via a single radio and software platform, to benefit from SES and Imagotag’s entire labeling range, an unparalleled choice on the market. The first stores supported by this platform will be fitted out in Q3. The SES/Imagotag teams are preparing the upcoming launch of the first Cloud platform associated with an SAAS/On-Demand mode offer.

     

    Innovation: SES bringing electronic labeling into the Internet of Things (IoT) era

    SES is continuing to pursue its innovation strategy aimed at making smart labels the cornerstone of the in-store digital revolution, thanks to all the applications derived from the connected and 3 interactive sensor feature present in front of each product.

    Regarding the very latest innovation, in May SES and Atos presented the first 3D digital mock-up (DMU) of a connected hypermarket. Electronic shelf labels (ESL) are used as a network of precise geo-referencing indicators for products in the store. A new mobile software package for in-store ESL management allows information on the layout of labels to be continually updated. This information is then memorized by SES and integrated by Atos in the store owners’ planogram software. The software then produces an accurate Virtual 3D plan of the store’s shelves, permanently synchronizing the actual layout situation with the retailer’s information system. The solution is able to draw up accurate merchandising plans adapted to each store’s context. It thus allows substantial productivity gains for employees and ensures that customers can precisely locate the products they are looking for. A live pilot has been implemented with a major French retailer equipped with the Dassault Systèmes “PerfectShelf” 3D merchandising solution.

    The other benefit of these innovations is that they make brands (mass-consumption products) aware of the appeal smart labeling can represent with regard to improving their sales performance and how well they know their customers. In H1, SES initiated cooperation with certain brands’ marketing & innovation departments.

     

    Outlook and a word from the CEO

    Assessing the first half and looking at the Group’s prospects, Thierry Gadou says: “Despite a flat economic situation, SES has continued to gain market shares and has met its growth pledge for the 7th half in a row (+16% in H1). International growth remains buoyant, but the significant upturn in France was the most noteworthy event over the period: in the Q2, SES recorded its best performance in France for almost two years. We are delighted by this situation because to grow in France – by far the world’s best-equipped and most-demanding market in terms of ESL – requires continual innovation and high-quality products and services over the long term. Having said that, and now more than ever with our friends at Imagotag, henceforth our new domestic market is the whole of Europe, where our sales are continuing to record buoyant growth and have now begun in every region. Simultaneously, we are continuing to invest commercially in the rest of the world (Americas, APAC), since new regions will undoubtedly follow in Europe’s footsteps due to similar pressure in terms of growing price volatility and increasing labor costs.

    SES is fully carrying out its role as the market leader, which is to develop the market and to innovate. Our image in terms of reliability, quality and expertise is acknowledged around the world.

    This first-half performance represents a solid step toward our objective of recording growth and improved profitability over 2014 as a whole.”

     

    Next press release

    Results for the first half of 2014: August 28, 2014

    About de Store Electronic Systems

    Store Electronic Systems is the leader in Electronic Shelf Labeling systems (ESL) for large-scale food and non-food retailers. The Group designs, markets and installs all the system's components (software and communication platform, displays, mounts), thus providing clients with a turnkey solution. The range of products and services offered by SES allows retailers to manage pricing dynamically while significantly improving store productivity, and to develop new contactless uses for consumers. Store Electronic Systems is listed on Compartment C of Euronext™ Paris.

    Ticker : SESL Codes ISIN : FR0010282822  -  Reuters : SESL.PA  - Bloomberg : SESL.FP

    www.store-electronic-systems.com

    Contacts

    Store Electronic Systems

       

    NewCap. Florent Alba - Investor Relations & Financial Communication

    falba@newcap.fr   01 44 71 98 75
     

     

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  • SES and RGIS partner to provide next generation retail solutions Tuesday 10 June - 18:09
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    Store Electronic Systems (SES) and RGIS partner

    to provide next generation retail solutions

     

    Paris, June 10th, 2014 – SES, the leader in Electronic Shelf Labeling systems (ESL) for retailers worldwide, and RGIS, LLC, the global market leader in inventory and data collection, announced a new global partnership on the first day of the FMI Connect conference in Chicago.

     

    Retailers are looking to move further into the digitization and automation of store operations, and the RGIS-SES partnership will accelerate the adoption of these advanced solutions,” said Charles Jackson, VP Strategy & Business Development & CEO SES America. The partnership will focus on the key operational areas that omnichannel retailers need – reducing out-of-stocks (OOS), real-time product availability, and improving in-store customer experiences.  Advanced functionality such as geolocation and stock picking is based on SES’ new interactive ESL Graphic-Tag range.

     

    Both companies are the best in the industry in their core areas of expertise and serve many top-tier retailers,” said JD Bouchard, SVP Canada and Global Specialty Services.  He added that “It is a very logical evolution that these two companies are partnering to support the next generation of solutions retailer needs. In addition to finding new ways to work through SmartSpace®, our state-of-the-art macro space solution, RGIS will provide professional installation services for SES’s Electronic Shelf Labels to ensure rapid and efficient installation across a retailer’s entire footprint.

     

    The partnership is global in scope and extends to all segments of retail, including both grocers and non-food retailers.

     

    About RGIS

    Turn your next inventory event into an opportunity to get smarter with your space. RGIS takes you beyond the count with integrated inventory services that include store surveys, space management, store remodels and resets, RFID solutions and asset optimization. With proven successes in all aspects of retail, healthcare and manufacturing inventory, it’s no surprise that more organizations, in more places, trust RGIS to provide the information and insight they need to fully understand their assets and make better business decisions.

     

    About Store Electronic Systems

    Store Electronic Systems is the leader in Electronic Shelf Labeling systems (ESL) for large-scale food and non-food retailers. The Group designs, markets and installs all the system's components (software and communication platform, displays, mounts), thus providing clients with a turnkey solution. The range of products and services offered by SES allows retailers to manage pricing dynamically, while significantly improving store productivity and developing new contactless uses for consumers.

    Contact: communications@ses-esl.com

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  • SES and Atos present first digital mock-up of the connected store Monday 09 June - 17:52
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    Store Electronic Systems (SES) and Atos present first digital mock-up of the connected store

    Paris, May 27th, 2014

    • A breaking solution of a store 3D representation in real time
    • The SES electronic shelf label becomes the technological base of the connected store

    Store Electronic Systems (SES), the global leader in electronic shelf labeling systems, and Atos, an international IT services company, announced today the first implementation of the 3D digital mock-up (DMU) of a connected hypermarket for a mass retailer.

     

    Electronic shelf labels (ESL) originally used to display prices and data become a precise geo-referencing indicator for products in the store. The label position is memorised by SES during their set-up and then integrated by Atos into the planogram software to reproduce in Virtual 3D the actual layout of store shelf-displays; this is kept permanently updated.

    A live pilot was implemented with a French retailer equipped with the 3D Merchandising solution from Dassault Systèmes, PerfectShelf. The solution is able to set up precise merchandising plans for the item, always in relation to store sales. This permanent synchronised product positioning knowledge, enables significant productivity gains for performing daily employee tasks. It also guarantees the consumer to easily locate items on their shopping list leveraging a new geo-localisation function integrated in the retailer's mobile application.

    The electronic shelf label comprises the long awaited network of intelligent sensors to ensure the intermediation between the customer, the items, the retailer and the brand. It brings precise and shared visibility in addition to innovative uses to ensure a seamless digital customer experience.

    Thierry Gadou, CEO of Store Electronic Systems says: "After having connected consumers with their NFC smartphone, the electronic label heralds new uses for micro geo-localisation which have been expected by the mass retail sector. This disruptive innovation improves the store’s operational performance because retailers need real time indicators that enable them to react and optimise a department's item-layout that consumers actually buy. The electronic shelf label is thus assured as the essential cornerstone of the connected store, enabling an enriched omni-channel customer experience and helping consolidate the leadership of traditional retailers within new hybrid consumer models. Bringing this project to fruition reveals that this vision, which has been provided by SES since 2012, is now shared by leading players in this field".

    Gilles Grapinet, SEVP of Atos and CEO of Worldline states: "This digital mock-up of the connected store is a direct result of a close collaboration with SES, and should enable mass retail to quickly benefit from operational gains that have been evident for several years in the industrial sector which has adopted these technologies. To modelize the layout of each hypermarket, which is unique by definition, this is a considerable step forward that enables attaining, directly and sustainably, operational excellence. Associating new technology capabilities to address and business problems is now underway in the mass retail sector a promise of fast stores best able to respond without delay to the changing needs of consumers. Through this common effort between Worldline, Atos subsidiary specialised in electronic payments, and SES, the stores of tomorrow will offer consumers enriched shopping experiences and will be supported by intelligent labels to enable mass retailers to provide new interactive and real time services to consumers".

    About Atos

    Atos SE (Societas Europaea) is an international information technology services company with 2013 annual revenue of € 8.6 billion and 76,300 employees in 52 countries. Serving a global client base, it delivers IT services through Consulting & Systems Integration, Managed Operations, and transactional services through Worldline, the European leader and a global player in the payments services industry. With its deep technology expertise and industry knowledge, it works with clients across different business sectors: Manufacturing, Retail & Transportation; Public Sector & Health; Financial Services; Telcos, Media & Utilities. Atos is focused on business technology that powers progress and helps organizations to create their firm of the future. It is the Worldwide Information Technology Partner for the Olympic & Paralympic Games and is listed on the NYSE Euronext Paris market. Atos operates under the brands Atos, Atos Consulting, Worldline and Atos Worldgrid. Contact: Sarah-pearl Bokobza +33 (0)6.10.86.01.72 sarah-pearl.bokobza@atos.net

     

    About Worldline

    Worldline, an Atos subsidiary, is the European leader and a global player in the payments and transactional services industry. Worldline delivers new-generation services, enabling its customers to offer smooth and innovative solutions to the end consumer. Key actor for B2B2C industries, with 40 years of experience, Worldline is ideally positioned to support and contribute to the success of all businesses and administrative services in a perpetually evolving market. Worldline offers a unique and flexible business model built around a global and growing portfolio, thus enabling end-to-end support. Worldline activities are organised around three axes: Merchant Services & Terminals, Mobility & e-Transactional Services, Financial Processing Services & Software Licensing. In 2013, Worldline’s activities within the Atos Group generated (pro forma) revenues of 1.11 billion euros. The company employs more than 7,200 people worldwide. www.worldline.com

     

    About Store Electronic Systems

    Store Electronic Systems is the leader in Electronic Shelf Labeling systems (ESL) for large-scale food and non-food retailers. The Group designs, markets and installs all the system's components (software and communication platform, displays, mounts), thus providing clients with a turnkey solution. The range of products and services offered by SES allows retailers to manage pricing dynamically, while significantly improving store productivity and developing new contactless uses for consumers.

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

    Ticker : SESL Codes ISIN : FR0010282822  -  Reuters : SESL.PA  - Bloomberg : SESL.FP

    www.store-electronic-systems.com

    Contacts

    Store Electronic Systems

       

    Alexandre LOT - Communications Manager

    alexandre.lot@ses-esl.com   01 34 34 62 15
     

     

     

     

     

     

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  • Q1 2014 sales: 19,4 M€, up +22% Monday 28 April - 17:52
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    PARIS, April 28, 2014 - Sales for the 1st quarter of 2014 

     

    • Q1 2014 sales: €19.4 million, up +22%
    • Buoyant growth in international activity (+66%)

    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 first quarter of 2014.

     

    CA (M€) France International Total

    T1 2013

    T1 2014

    Δ

    10,0

    9,6

    -4%

    5,9

    9,8

    +66%

    15,9

    19,4

    +22%

     

    Over the first quarter of 2014, SES recorded sales of €19.4 million, up +22% on the first quarter of 2013. International activity remained buoyant, increasing by +66% to €9.8 million. In France, sales totaled €9.6 million, a slight decrease of 4% compared with the first quarter of 2013 (€10.0 million). The sales dynamic is strong, with over €22 million in orders taken over the quarter despite an economic situation that is weighing on mass retail investments.

    Buoyant international momentum

    Abroad, SES is continuing to develop, with sales totaling €9.8 million over the quarter (+66%) and growth recorded across all segments of activity: new installations, renewals and services. Over the period, the Group won several contracts and new pilot schemes. Growth was mainly driven by Europe, where growth was recorded in every region.

    Stable activity in France

    French sales totaled €9.6 million, a similar figure to that recorded the previous quarter (Q4 2013) and a slight decrease of 4% compared with the same period a year earlier. In France, SES has maintained its positions on a market that remains highly competitive, notably thanks to the loyalty of its clients and the buoyant rate of modernization and renewal of its installed base.

    Buoyant orders taken

    SES has again reaffirmed its excellent sales dynamic, with orders taken totaling €22 million over the 1st quarter of 2014 (giving a book-to-bill ratio of 113%), a significant sequential increase on the previous quarter (€15 million).

    Regarding the first quarter, Thierry Gadou says: “Over the first quarter of the year, SES continued its international development dynamic and maintained a high level of activity on its domestic market. This global growth is a result of both the launch of deployments in new stores and the modernization and renewal dynamic amongst SES’ substantial client base, driven by innovation.

    Numerous sales achievements were recorded, including an upturn in orders taken compared to the previous quarter. Despite the ongoing difficult economic situation, Europe is continuing to be the main driving force behind our growth, but we also pursued our marketing investments in the Americas and in Asia over the early part of the year, as these regions represent major sources of future growth.

    This first quarter also saw the conclusion of a strategic operation with Imagotag, which will enable the Group to provide the most extensive and technologically advanced range of electronic shelf labeling solutions on the eve of a global expansion phase for this market.»

     

    Next press release:

    Sales for the 1st half of 2014: July 31, 2014.

     

    • About Store Electronic Systems Store Electronic Systems is the leader in Electronic Shelf Labeling systems (ESL) for large-scale food and non-food retailers. The Group designs, markets and installs all the system's components (software and communication platform, displays, mounts), thus providing clients with a turnkey solution. The range of products and services offered by SES allows retailers to manage pricing dynamically, while significantly improving store productivity and developing new contactless uses for consumers.

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

    Ticker: SESL – ISIN Code: FR0010282822 – Reuters: SESL.PA – Bloomberg: SESL.FP

    www.store-electronic-systems.com

    Contacts

     

    Store Electronic Systems

       

    NewCap. Florent Alba - Investor Relations & Financial Communication

    falba@newcap.fr   +33 (0)1 44 71 98 75

     

     

     

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  • SES shares eligible for new PEA-PME savings plan Wednesday 02 April - 10:19
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    Store Electronic Systems shares eligible for new PEA-PME savings-plan

    Store Electronic Systems (Euronext: SESL, FR0010282822), global leader in Electronic Shelf Labeling (ESL) systems for large-scale food and non-food retailers, today confirmed that its shares are eligible for the new “PEA-PME” SME equity savings plan.

    Store Electronic Systems meets the eligibility criteria for “PEA-PME” SME equity savings plans in compliance with Decree n° 2014-283 issued on March 4, 2014 relating to the application of article 70 of the 2014 finance law n° 2013-1278:

    •        a workforce of less than 5,000 staff;

    •        annual revenue of less than €1,500m or a balance sheet of less than €2,000m.

    Investors can include Store Electronic Systems shares in PEA-PME savings accounts, a new plan aimed at encouraging investments in small and mid-cap companies:

    •       identical terms and conditions for opening a new account as the existing equity savings plan (PEA) accounts;

    •        ceiling set at €75,000;

    •        individuals can hold PEA-PME savings account in a different financial institution than where they hold an existing PEA account;

    •        same tax incentives as PEA equity savings plan.

     

    Next press release: 2014 First-Quarter Sales: April 28, 2014 (before market)

     

    About Store Electronic Systems

    Store Electronic Systems is the leader in Electronic Shelf Labeling systems (ESL) for large-scale food and non-food retailers. The Group designs, markets and installs all the system's components (software and communication platform, displays, mounts), thus providing clients with a turnkey solution. The range of products and services offered by SES allows retailers to manage pricing dynamically, while significantly improving store productivity and developing new contactless uses for consumers. SStore Electronic Systems is listed on Compartment C of Euronext™ Paris. Ticker: SESL – ISIN Code: FR0010282822 – Reuters: SESL.PA – Bloomberg: SESL.FP

    www.store-electronic-systems.com

    Vos Contacts

    Store Electronic Systems

       

    NewCap. Florent Alba - Relation Investisseur & Communication Financière 

    falba@newcap.fr   01 44 71 98 75

     

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  • 2013: acceleration in transformation and development Wednesday 19 March - 00:00
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    Paris, March 19, 2014 – 2013: acceleration in transformation and development

     

    • 2013 sales up +31% to €82.3m
    • Substantial improvement in Operating Profit over the 2nd half (+46%)
    • Net profit stable on the year
    • Signing of a definitive agreement for the acquisition of Imagotag

    Store Electronic Systems (Euronext: SESL, FR0010282822), global leader in Electronic Shelf Labeling (ESL) systems for large-scale food and non-food retailers, today announces its annual results for the year to December 31, 2013.

     

     

    In 2013, SES accelerated the implementation of its “i3” strategic plan launched in 2012 and based on three priorities: International, Innovation, Industrialization. The Company has obtained tangible results in all three of these areas: overseas, SES has recorded annual growth of +84% to €45 million; in terms of innovation, the major success of the new range of G-tag+NFC interactive dynamic graphic labels has enabled it to achieve 30% of sales in just one year; thirdly, the improvement in the Company’s organization and processes has enabled it to record the fastest ever deployment in the history of ESL (more than 600 stores in 8 months), to operate more efficiently abroad and to substantially increase productivity and profitability from the second half of 2013, with H2 operating profit up +95% on the previous half and +46% on the same period of 2012. In 2013, SES thus improved its profitability and consolidated its leadership, gaining further market share in Europe, the Americas and the Asia-Pacific zone.

    Second half of 2013: buoyant sales growth and sharp improvement in operating profit

    Over the second half of the year, Store Electronic Systems reaffirmed its buoyant momentum with sales totaling €47.5 million (+37%), due to a sharp acceleration in overseas sales (+108%), whilst sales in France held steady (+1%) within a difficult market context.
    In the second half, in line with the market plan, operating profit came to €4.1 million, substantially improving the Company’s profitability with the operating margin improving from 6% in H1 2013 to 9% in H2 2013, giving an annual figure of 8%. With most restructuring efforts completed, expenses stabilized and totaled €11.5 million, up +3% compared with H1.

    SES improved its cash flow over the second half (+€3.7 million), and had a net cash position of €22.2 million at the end of December 2013 (vs. €24.7 million).

    2013: a year of improvement for activity and all operations

    Sales and operating profit were both up in 2013, notably due to the implementation of the “i3” strategic plan.

    Substantial growth in international activity (+82%)

    SES recorded international sales of €44.5 million in 2013 (+84%), with a significant acceleration over the second half of the year (+108%). SES fitted out 981 overseas stores in 2013 (+44%), where the number of stores with the Company’s products installed in them has almost doubled over the last two years, increasing from 1,699 to 3,205.

    In Europe, growth was driven by the deployment of the Company’s systems in NorgesGruppen stores in Scandinavia. Sales in Southern Europe (Italy, Spain) rallied despite the difficult economic situation due to a significant marketing impetus. The same is true in Central and Eastern Europe, where SES has successfully carried out a number of pilot schemes.

    Elsewhere in the world, sales in the Asia-Pacific region provided a significant contribution to growth (in particular the Fairprice deployment in Singapore). Sales also improved in Latin America and development efforts intensified in North America, where the Group opened a subsidiary in Boston during H1. The first few months of prospection have enabled the first high-potential commercial partnerships to be formed.

    At end-2013, the number of stores fitted out around the world was 6,710 (in 52 countries). Sales generated by this installed base (renewal and maintenance) totaled €29.3 million, or 36% of total sales (+16%). Orders taken stood at €83 million in 2013, giving a book-to-bill ratio of 102%.

    Sales stable in mainland France

    Despite the significant number of stores already equipped and a poor economic situation, in France SES fitted out 329 new stores amongst independents (Intermarché, Système U, Leclerc) and integrated retailers. SES continued the deployment of Simply Market stores and began installing its equipment in new food and non-food chains of stores. The level of customer loyalty and the renewal rate of the installed base were satisfactory due to the Company’s innovation policy, resulting in a significant acceleration in swaps. Sales generated by SES’ installed base (maintenance and renewal) were up +10% in 2013.

    Improvement in operating profit

    Over the year, operating profit came to €6.2 million (+7%), bolstered by the contribution of the second half of the year (+46% to €4.1 million), with an annual operating margin of 8%.

    The margin on variable costs remained under pressure, at 35% of sales, due to the evolution of the product mix (Gtag+), persistent strong pricing competition, notably on deployments amongst major clients that accelerated substantially over the second half, and the marketing efforts required by the Company’s international expansion strategy.

    Operating expenses increased by +17% in 2013 with the ramping up of the i3 transformation plan, but stabilized as expected during the second half (€11.5 million in H2 vs. €11.2 million in H1). The ratio of expenses to sales thus improved from 84% to 73% between H1 and H2. These productivity gains allowed growth to be absorbed and profitability to be improved.

    Consolidated net profit came to €3.9 million, a slight decrease (-4%) because of revaluations associated with foreign exchange rates and hedging instruments for 2014 (in IFRS) having an exceptional impact on the 2013 financial result.

    Sustained R&D investments

    SES has continued its R&D investments (€6 million) in order to strengthen its technological positioning and its strategic assets with a renewed product range and some major innovations: NFC-tag dynamic display HD graphic range and mobile-shopping solution, new software platform, wireless infrastructure. Numerous other technological projects are currently underway in order to further accentuate SES’ strategic and competitive leadership.

    SES has also invested in the modernization of its IT System (ERP project in particular). All in all, investments totaled €7 million in 2013 (vs. €5.6 million in 2012).

    Financial structure: net cash position of €22m, improvement in WCR

    The Group had a net cash position of €22.2 million at the end of December 2013 (compared with €24.7 million at end-2012), consuming €2.5 million in cash compared to sales growth of +€20 million over the same period. WCR stood at €35.4 million, up +€3 million on the previous year as a result of the Company’s buoyant growth. Due to the significant improvement in trade receivables, the ratio of Working Capital Requirements to Sales improved from 50% to 43% over the year. SES has thus improved its cash management (-€6.2 million consumed over H1 2013 followed by +€3.7 million generated over H2 2013).
     

    Imagotag: a highly strategic acquisition

    Founded in 2010 in Graz, Imagotag is an Austrian technological startup that develops an innovative Electronic Shelf Labeling solution based on VHF wireless transmission technology and a range of E-paper displays. Due to the qualitý of its products and the system’s ease of installation and maintenance, Imagotag’s solution has met with immediate success. In 2012, not long after its creation, the company carried out a deployment in more than 1,000 Billa stores (Rewe group), one of Austria’s leading mass retailers. In 2013, the startup successfully installed a number of pilot schemes amongst some of Germany’s largest retailers, as well as in Central Europe, thus representing substantial potential for future deployments. Given its current order book, Imagotag anticipates 2014 sales of over €5 million and buoyant growth for 2015 and the following years, in particular given the expected dynamism of the German market.

    Following its acquisition of a minority stake in Imagotag, as announced on February 18, SES and Imagotag signed a definitive agreement on March 7 2014 regarding the 100% acquisition of Imagotag by SES in two stages over a two-year period.

    The first stage, scheduled for the first half of 2014, will see SES acquire a further 69.3% stake in Imagotag, taking SES’ total stake to 76.9% given the 7.6% already acquired in February. This operation will be paid for partly in cash for €4.5 million and partly through the issuance of 591,969 new SES shares based on a price of €15.35 per share, i.e. dilution of 5.1%, this being subject to the approval of the SES Shareholders’ Meeting planned for May.

    The second stage, scheduled for 2016, will see SES increase its stake to 100% through the acquisition of the remaining Imagotag shares still held by the company’s founders and shareholders. This second stage will be paid for in cash, the amount of which could vary from €2 to 6 million depending on performance criteria.

    All in all, the operation values Imagotag at between €16 and 20 million (or an Enterprise Value of between €18 and 22 million, given its debt of €2 million at the end of 2013).

    2014 outlook

    Despite an economic situation that remains difficult in Europe and uncertain in emerging countries, SES is confident in its prospects for sales growth, notably abroad, and for operating profit in 2014.
    The effective implementation of the Imagotag acquisition in 2014 will be a factor that will accelerate our future growth and that should have a neutral or limited impact in terms of core operating profit for the current year.

    Thierry Gadou, CEO of SES, concludes: “2013 was an encouraging year for SES’ teams, because the efforts undertaken are beginning to show results and our clients’ trust supports the strategic choices we have made. Our international sales almost doubled in 2013 and, more importantly, major deployments were carried out on various continents, unequivocally showing that Electronic Shelf Labeling is not a local or regional affair, but a market with global potential that is still in its infancy. A lot of work still needs to be done to accompany this market and accentuate our leadership position in coming years. Innovation, industrial competitiveness and sales dynamism will remain our priorities. Our alliance with Imagotag is perfectly in line with this strategy, in terms of our technological and geographical complementarities and their growth dynamic.”;

     

    Next press release: 2014 First-Quarter Sales: April 28, 2014 (before market)

     

    About Store Electronic Systems

    SStore Electronic Systems is the leader in Electronic Shelf Labeling systems (ESL) for large-scale food and non-food retailers. The Group designs, markets and installs all the system's components (software and communication platform, displays, mounts), thus providing clients with a turnkey solution. The range of products and services offered by SES allows retailers to manage pricing dynamically, while significantly improving store productivity and developing new contactless uses for consumers. SStore Electronic Systems is listed on Compartment C of Euronext™ Paris. Ticker: SESL – ISIN Code: FR0010282822 – Reuters: SESL.PA – Bloomberg: SESL.FP

    www.store-electronic-systems.com

    Vos Contacts

    Store Electronic Systems

       

    NewCap. Florent Alba - Relation Investisseur & Communication Financière 

    falba@newcap.fr   01 44 71 98 75
     

     

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  • Carrier and SES announce cooperation Wednesday 19 February - 14:10
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    Carrier and Store Electronic Systems announce cooperation on shelf labeling concept

    Düsseldorf, February 19, 2014

    • Development of a new smart glass door cabinet providing indoor advertising

    • Powered by new dynamic and colored ESLs Video Tag

     

    Carrier and Store Electronic Systems (SES) have announced a comprehensive cooperation on a new smart and interactive concept for display cabinets. The new generation of dynamic colored Electronic Shelf Labeling (ESL), Video Tags, incorporated within Carrier’s latest MonaxEco® cabinets, enable shelf-level display of product information, as well as full-HD video promotions to create an indoor advertising platform. Carrier, the world’s leader in high-technology heating, air-conditioning and refrigeration solutions, is part of UTC Building & Industrial Systems, a unit of United Technologies Corp. (NYSE: UTX).

    With this joint approach, Carrier and SES are strengthening the fundamental trend in retail for industrial equipment to be smart and interactive,” said Guillaume Portier, vice president, marketing, SES. Leveraging the power supply from the refrigerated cabinet, the ESL offers exceptional resolution and animation capabilities. Connected to the store’s back office, ESLs are updated remotely via a wireless radio link, helping to ensure synchronization with checkout scanners.

    Integration of merchandising technologies in our new cabinets has created synergies from which food retailers will benefit,” said Gunter von Starck, director, marketing, Carrier Commercial Refrigeration Europe.

    About Carrier

    Carrier is the world’s leader in high-technology heating, air-conditioning and refrigeration solutions. Carrier experts provide sustainable solutions, integrating energy efficient products, building controls, and energy services for residential, commercial, retail, transport and food service customers. Founded by the inventor of modern air conditioning, Carrier improves the world around us through engineered innovation and environmental stewardship. Carrier is part of UTC Building & Industrial Systems, a unit of United Technologies Corp., a leading provider to the aerospace and building systems industries worldwide. Visit http://www.carrier.comfor more information or follow the company on Twitter: @CarrierGreen.

    About Store Electronic Systems

    Store Electronic Systems is the leader in Electronic Shelf Labeling systems (ESL) for large-scale food and non-food retailers. The Group designs, markets and installs all the system's components (software and communication platform, displays, mounts), thus providing clients with a turnkey solution. The range of products and services offered by SES allows retailers to manage pricing dynamically, while significantly improving store productivity and developing new contactless uses for consumers.

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

    Ticker: SESL – ISIN Code: FR0010282822 – Reuters: SESL.PA – Bloomberg: SESL.FP

    www.store-electronic-systems.com      

     

    Contact

    NewCap.

    Florent Alba, Investor Relations & Financial Communication - Tel.: +33 (0)1 44 71 98 55, falba@newcap.fr

     

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  • SES and iMAGOTAG announce a strategic and financial alliance Monday 17 February - 12:19
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    SES and iMAGOTAG announce a strategic and financial alliance to build European Powerhouse for the Global Retail Electronic Shelf Labeling Market

    Paris, February 17, 2014

    Store Electronic Systems (NYSE Euronext: SESL, FR0010282822), global leader in electronic shelf labels for retail, and iMAGOTAG, the innovative ESL start-up based in Austria, today announce a strategic and financial alliance.

    SES announces an investment in iMAGOTAG to acquire a minority interest, accelerate iMAGOTAG’s development and initiate a technology and industrial partnership. This initial investment underpins an exclusive Memorandum of Understanding signed by SES and iMAGOTAG today for the acquisition by SES of 100% of iMAGOTAG over a two-year period.

    iMAGOTAG is an Austrian retail technology start-up founded in 2010 which developed a highly innovative ESL technology based on ultra-low power high frequency wireless radio and Epaper displays. Thanks to premium quality products and a uniquely easy installation and maintenance, the solution met with immediate success and, shortly after inception, iMAGOTAG won a large scale roll out for Billa in Austria (Rewe Group). In 2013, the start-up conducted a number of successful pilot installations in some of the largest retailers in German speaking countries and Central Europe, representing a high future deployment potential. Today iMAGOTAG has more than 1, 000 installations in 5 countries and has built a strong sales funnel. iMAGOTAG also has a portfolio of ESL innovations under development.

    The technology and industrial partnership foreseen by SES-ESL and iMAGOTAG aims to mutualize and accelerate R&D efforts in the fields of very high frequency RF and electronic paper, both domains being the core expertise of iMAGOTAG as well as a technology focus for SES. Through this partnership, SES will capitalize on iMAGOTAG’s complementary technology assets and iMAGOTAG will accelerate its growth by leveraging SES' industrial strengths and global geographic footprint. iMAGOTAG will continue to operate as a specific brand and an independent company.

    Michael Moosburger, co-founder of iMAGOTAG, comments: “This transaction moves iMAGOTAG to the next level. We have an exciting product and technology but we know the fast-growing ESL market requires global scale and industrial strengths now. In all aspects, the SES-iMAGOTAG alliance is a structured, long-term entrepreneurial partnership. We chose SES, above other options, because they are the leading and the most experienced ESL vendor in the world and they bring a strong industrial aspect to iMAGOTAG. Our complementarities are numerous from both product and software standpoints. Strategically, we share the same entrepreneurial spirit and ambition with Thierry Gadou and his team. iMAGOTAG will play a key role in building together with SES the only multi-technology ESL corporation capable of offering the best and evolutive solution to every retailer in the world. ».

    Thierry Gadou, CEO of SES, concludes: “We are excited by this partnership. iMAGOTAG’s founders, Michael Moosburger and Andreas Rössl, are highly talented entrepreneurs and have built an excellent team which provides market-oriented, innovative solutions for retail. iMAGOTAG has developed the most advanced technology in the field of High-frequency Epaper ESL. Their clients appreciate the solution because of its high quality and of its “Plug and Play” installation and maintenance. This has contributed to the rapid initial successes of iMAGOTAG’s solution in the market. We are optimistic on their revenue take-off and future growth perspectives. The brand, technology and product line are a perfect match within the SES group portfolio and will enable us to better address new market segments globally as well as reinforce our position in Germany and Central Europe. Conversely, SES will greatly help iMAGOTAG in its development by extending its international reach as well as providing a strong financial and industrial base. Moreover we share a common ambition to build the global ESL powerhouse at the forefront of innovation.

    As per the Memorandum of Understanding signed by the two companies, SES would acquire 100% of iMAGOTAG over a two-year period. The transaction would be paid partly in cash and partly in SES shares (based on a SES share price of 15,3 €).

    This contemplated final transaction will be submitted to the consultation process of SES’ works council. Closing is anticipated to occur during first semester 2014, subject to SES’ shareholders approval at SES’ annual general meeting scheduled in May 2014 and other customary conditions.

     

    About Store Electronic Systems

    Store Electronic Systems is the leader in Electronic Shelf Labeling systems (ESL) for large-scale food and non-food retailers. The Group designs, markets and installs all the system's components (software and communication platform, displays, mounts), thus providing clients with a turnkey solution. The range of products and services offered by SES allows retailers to manage pricing dynamically, while significantly improving store productivity and developing new contactless uses for consumers.

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

    Ticker: SESL – ISIN Code: FR0010282822 – Reuters: SESL.PA – Bloomberg: SESL.FP

    www.store-electronic-systems.com      

     

    Contact

    NewCap.

    Florent Alba, Investor Relations & Financial Communication - Tel.: +33 (0)1 44 71 98 55, falba@newcap.fr

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  • Système U chooses SES for the next two years Wednesday 05 February - 18:06
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    Système U chooses SES for the next two years

    Paris, February 5, 2014

     

    Store Electronic Systems (NYSE Euronext: SESL, FR0010282822), leader in Electronic Shelf Labeling (ESL) systems for large-scale food and non-food retailers, today announces Système U has chosen to reference SES’ electronic shelf labeling solutions for the next two years. Système U took this decision after reassessing the SES solution in comparison with rival systems.

     

                                                                

    To date, SES has installed its solution in over 500 U stores across France (including hypermarkets, supermarkets and convenience stores), making Système U one of the best equipped retail groups in the world.

    Pierre Demoures, VP Sales for SES France, says: “We are deeply honored by Système U's continued trust in SES, which rewards both the quality of our products and services and our strong innovation strategy.”   

     

    Next press release

    2013 annual results: March 19, 2014 (before market)

     

    About SYSTEME U

    SYSTEME U is the fourth largest food retailer in France.  It is a cooperative of 1,559 independent retailers that operate under the brand names Hyper U, Super U, Marché U, U Express and Utile. In 2013, U stores generated sales of €18.45 billion (excluding fuel), up 3.5% on the year. Its market share topped 10.3%.


    About Store Electronic Systems

    Store Electronic Systems is the leader in Electronic Shelf Labeling systems (ESL) for large-scale food and non-food retailers. The Group designs, markets and installs all the system's components (software and communication platform, displays, mounts), thus providing clients with a turnkey solution. The range of products and services offered by SES allows retailers to manage pricing dynamically, while significantly improving store productivity and developing new contactless uses for consumers.

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

    Ticker: SESL – ISIN Code: FR0010282822 – Reuters: SESL.PA – Bloomberg: SESL.FP

    www.store-electronic-systems.com      

     

    Contact

    NewCap.

    Florent Alba, Investor Relations & Financial Communication - Tel.: +33 (0)1 44 71 98 55, falba@newcap.fr

     

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  • 2013 annual sales: €82.5m (+31%) Monday 13 January - 17:47
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    Paris, January 13, 2014 – 2013 annual sales : €82.5m (+31%)

     

    • Record Q4 sales of €23.8m (+36%)
    • Buoyant growth both abroad (+56%) and in France (+15%)
    • 2013 annual sales up sharply (+31%) thanks to international sales (+83%)
    • Improvement in profitability and cash flow over the second half

    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, 2013.

     

    Sales (M€)- Unaudited France International Total
    Q1 2012 11.2 4.7 15.9
    Q1 2013 10.0 5.9 15.9
    % change -10% +26% 0%
    Q2 2012 9.7 5.2 14.9
    Q2 2013 10.2 8.7 18.9
    % change +5% +71% +27%
    Q3 2012 9.6 5.1 14.7
    Q3 2013 8.5 15.4 23.9
    % change -12% +201% +62%
    Q4 2012 8.3 9.2 17.5
    Q4 2013 9.5 14.3 23.8
    % change +15% +56% +36%
    2012 annual sales 38.8 24.2 63.0
    2013 annual sales 38.2 44.3 82.5
    % change -2% +83% +31%

     

    Store Electronic Systems reaffirmed its buoyant growth in the 4th quarter of 2013, with sales increasing by +36% to €24 million, compared to the 4th quarter of 2012. This growth was driven by an acceleration in international sales (+56%) and a solid performance in France (+15%) despite a difficult market. SES recorded a record year for 2013 with sales totaling €82.5 million, an increase of +31% over 2012. For the first time, international sales accounted for more than half (54%) of annual sales. As expected, this growth combined with the stabilization of expenses and the benefits resulting from the implementation of the i3 [1] strategic plan all enabled profitability and cash flow to begin improving over the second half of the year. The Group had a net cash position of €22 million at the end of 2013. For 2014, SES is expecting this growth dynamic to continue with regard to both sales and operating profit.

    Buoyant growth in France and abroad in the 4th quarter

    SES recorded a solid performance in Q4 2013, with sales increasing by +36% to €23.8 million. The Group continued its buoyant growth dynamic abroad with sales totaling €14.3 million (+56%), notably driven by deployments in Scandinavia. In France, SES recorded growth of +15% compared with the 4th quarter of 2012 despite a difficult market, thanks notably to a high loyalty and renewal rate. The success of the new graphic-dynamic-interactive label range (Gtag+NFC) stimulated the modernization momentum. New specialized retail chains chose SES for their first installations.

    2013, a record year: international expansion and innovation

    In 2013, SES recorded sales of close to €82.5 million, up +31% compared with 2012. This growth was driven by international sales (+83% on the year). SES outfitted 1,310 new stores in 2013 (+48%), i.e. a record rate of more than 100 new stores a month. Over half of these new installations (700 stores) have been equipped with the very latest generation of graphic-dynamic-interactive labels (Gtag+NFC), over 5 million units of these being sold during their first year on the market. The total number of stores outfitted around the world stood at 6,710 (in 52 countries) at the end of December 2013. Orders taken came to €15 million over the 4th quarter of 2013 and €83 million over the year as a whole.

    Positive cash flow over the second half

    During the second half of 2013, SES recorded a positive cash flow of €3 million thanks to the initial results of the actions undertaken to improve Working Capital Requirements. Its net cash position stood at €22 million at the end of 2013. Regarding the Group’s 2013 activity, Thierry Gadou, CEO and Chairman of SES, says: “In 2013, SES won market share and further strengthened its position as the world n°1 in electronic shelf labeling solutions for large-scale retailers. We are continuing to be proactive in terms of innovation and have been fully playing our leadership role by stimulating the market’s growth. Our new graphic, dynamic and interactive label range already accounts for one-third of our sales after only a year on the market, thus exceeding our expectations. The digital revolution is underway in the mass retail sector and smart labels will play a key part in this revolution. Lastly, we are seeing rapid progress with regard to the implementation of our i3 [1] transformation plan, thanks to which our profitability and cash flow improved over the second half of the year as expected”.

     

    [1] 2012-2015 strategic transformation plan focused on 3 priorities : international, innovation, industrialization

     

    Next press release

    2013 annual results: March 19, 2014 (before market)

     

    About Store Electronic Systems

    Store Electronic Systems is the leader in Electronic Shelf Labeling systems (ESL) for large-scale food and non-food retailers. The Group designs, markets and installs all the system's components (software and communication platform, displays, mounts), thus providing clients with a turnkey solution. The range of products and services offered by SES allows retailers to manage pricing dynamically, while significantly improving store productivity and developing new contactless uses for consumers.

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

    Ticker: SESL – ISIN Code: FR0010282822 – Reuters: SESL.PA – Bloomberg: SESL.FP

    www.store-electronic-systems.com

    Contacts

    Store Electronic Systems

       

    NewCap. Florent Alba - Relation Investisseur & Communication Financière 

    falba@newcap.fr   01 44 71 98 75
     

     

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