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  • SES Group signs a major contract in Germany Thursday 11 June - 15:18
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    SES Group signs a major contract in Germany

     

    Imagotag, a subsidiary of the Store Electronic Systems Group (Euronext: SESL, FR0010282822), the leading supplier of electronic shelf labels (ESL) for large-scale food and non-food retailers, has entered into an exclusive agreement in Germany with a leading international retailer, to install its solution in 250 stores across Europe.

    The contract of a total value of €35m follows cooperation of several months on operational pilot projects and initial installations in 3 European countries followed by a competitive tender. The solution includes NFC E-paper digital interactive labels in small, medium and large size standard and color displays.

    This large-scale deployment of the Imagotag solution is part of the retailer's aggressive digital strategy, in particular, the active development of on-line sales channels in addition to its large network of physical sales outlets. The electronic labels will enable perfect synchronization of on-line and physical channels while at the same time increasing pricing agility, pricing accuracy and store operational efficiency. This ambitious project is also designed to implement in-store shopper connectivity and omnichannel digital continuity. This will be made possible by the latest generation of interactive NFC-labels, a technology that SES pioneered and in which the ESL world leader has unrivaled experience, with over 1,000 NFC-stores installed across Europe.

    This contract is one of the world’s largest ESL roll-out agreement to date. For the SES group, just one year after the acquisition of Imagotag, this major success seals the fast completion of the industrial and technological synergies between the two companies and the acceleration of the product development plan.

     

    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.

    www.store-electronic-systems.com

     

     

    Contact

    NewCap

    Florent Alba, Investor Relations & Strategic Communications- Tel.: +33 (0) 1 44 71 98 55

    falba@newcap.fr

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  • SPAR chooses Store Electronic Systems to equip all of its stores in Norway Tuesday 19 May - 17:37
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    SPAR chooses Store Electronic Systems
    to equip all of its stores in Norway

     

    Store Electronic Systems (Euronext: SESL, FR0010282822, eligible for SME Share Savings Plan), the leading supplier of electronic shelf labels (ESL) for large-scale food and non-food retailers, has entered into an exclusive agreement with the SPAR group to install its solution across almost 200 stores in Norway by the end of 2015. 

    Following an initial, large-scale rollout in Scandinavia in 2013, NorgesGruppen has again selected SES and Wincor-Nixdorf to equip all sales outlets operating under the SPAR trademark in Norway. Under the contract, SES will supply almost one million G-tag+ graphic labels. This latest generation of dynamic, interactive labels (DTP TFT display, patented worldwide by SES) enables the synchronization and implementation of the brand's sales and promotional policy across all stores.

    Stig Arnesen, Sales Director at Wincor-Nixdorf Norway, commented: “We are delighted to be working with SES again. They lead the market with their innovative and extremely reliable products, and are the first company in the world capable of deploying a large-scale ESL solution within a very short timeframe and delivering a high-quality maintenance service.

    Martin Munthe-Kaas, Marketing Director at SPAR Norway, added: “After the successful installation of 80 stores by SES and Wincor-Nixdorf, we have decided to equip all our supermarkets with ESL. The ESL solution is a significant part of our pricing, marketing and branding strategy and enables us to communicate our in-store promotions in the most cost efficient and powerful way to the consumers.”

    Thierry Gadou, CEO of Store Electronic Systems, concluded: This second rollout in Norway underlines the confidence that NorgesGruppen has in SES. The fact that they have chosen the G-Tag+ label confirms the relevance of our development and innovation strategies. Indeed, the TFT technology and the animation function were instrumental in helping us secure the agreement and really set us apart from the competition. Winning this contract has furthered our international expansion, especially in the Scandinavian market.

     

    Next press release

    Sales for the first half of 2015: July 24, 2015, after 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.

    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 joins EnterNext's new Tech 40 Index Wednesday 13 May - 13:47
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    SES joins EnterNext's new Tech 40 Index 

    • Entry into the "Tech 40" index
    • SES recognized among the 40 most innovative Tech companies in over 320 listed small and medium-sized tech companies

     

    Store Electronic Systems (Euronext: SESL, FR0010282822, eligible for SME Share Savings Plan), the leading supplier of Electronic Shelf Labels (ESL) for large-scale food and non-food retailers, today announced that it is entering the brand new EnterNext Tech 40 index.

    The Tech 40 Label distinguishes 40 listed technology companies that are particularly well-rated among the more than 320 listed small and medium-sized technology companies on the Euronext markets in Paris, Amsterdam, Brussels and Lisbon.

    This choice of accrediting 40 companies with the Label was made by a committee of independent European experts on the basis of economic, financial and stock market criteria.

    The forty European companies awarded the "Tech 40" label will benefit from a promotion measure and specific support offering increased visibility, in particular in relation to investors. SES will thus join the Tech 40 index next May 4 and will be able to benefit from a program of roadshows, in particular in other countries.

    Thierry Gadou stated: "We are happy that SES has been selected to join EnterNext's Tech 40 Label, thereby acknowledging the innovative nature of our Electronic Shelf Labels (ESL) and enabling us to increase our visibility in relation to French and international investors."

     

    Sales for the first half of 2015:

    July 24, 2015, after 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.

    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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  • Monoprix chooses Store Electronic Systems and Wincor-Nixdorf to equip its stores with ESL over the next 3 years Tuesday 12 May - 17:35
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    Monoprix chooses Store Electronic Systems and Wincor-Nixdorf to equip its stores with ESL over the next 3 years

     

    Store Electronic Systems (Euronext: SESL, FR0010282822, eligible for SME Share Savings Plan), the leading supplier of electronic shelf labels (ESL) for large-scale food and non-food retailers, and its partner Wincor-Nixdorf, announce the signing of a new contract with the Monoprix group to equip its stores with ESL over the next 3 years.

    This agreement notably relates to equipping 100 to 150 new Monoprix stores which it is planning to open over the coming 3 years. Also covered by the agreement are a significant share of the group’s 250 outlets already equipped with the SES solution and whose stocks of labels must be renewed. Monoprix also wishes to equip 25 to 30 of its leading stores with the latest generation of SES solutions.

    Grégoire Basquin, Retail Sales Director of Wincor Nixdorf said: "Wincor Nixdorf's position is as a partner in transforming the shopper experience, in an omnichannel and connected environment. Electronic shelf labels are part of this strategy: they have become a favored point of contact between retailers and their shoppers."    

    In particular, Wincor Nixdorf will manage the hardware and software deployment of the electronic labeling solutions in the new Monoprix stores, and will continue the migration of the stocks of labels in existing outlets.

    Pierre Demoures, VP Sales France of SES, concluded: "With this new agreement, Monoprix is renewing its trust in the solutions offered by SES and its partner Wincor Nixdorf. We are proud to accompany the retailer, which has been a pioneer in adopting ESL and which is continuing its digital development by remaining at the cutting-edge of innovation".

     

    Next press release

    Sales for the first half of 2015: July 24, 2015, after 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.

    www.store-electronic-systems.com

     

    About Wincor Nixdorf

    "Transforming business in touch with people." Our vision: accompany Banks and Retailers in transforming their businesses by making the consumer central to our strategy, meeting the challenges of the connected and omnichannel world, and, more generally, enriching the customer experience.

    Wincor Nixdorf is the 5th largest European software publisher, according to the latest Truffle 100 rankings. Our Group deploys its business expertise, its technological know-how (software and hardware) and its service ability in more than 100 countries. The French subsidiary is a leader in its market, both for self-service banking solutions and for cash management technologies.

    www.wincor-nixdorf.com/fr

     

    Contact

    NewCap

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

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  • World First: Intermarché digitizes shopping thanks to Store Electronic Systems’ NFC labels Thursday 05 February - 17:45
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    World First: Intermarché digitizes shopping thanks to Store Electronic Systems’ NFC labels

     

    Store Electronic Systems (Euronext: SESL, FR0010282822, eligible for SME Share Savings Plan), the leading supplier of Electronic Shelf Labels (ESL) for large-scale food and non-food retailers, has announced a world first: Intermarché has marked a milestone in the instore digital revolution by offering a completely new shopping experience to consumers in the brand new Intermarché at Issy-les-Moulineaux, close to Paris.

    Thanks to close collaboration between BudgetBox and Store Electronic Systems initiated and coordinated by the STIME, computer arm of the Mousquetaires’ Grouping, the Marketing Department, the Management of Intermarché Express and Intermarché are launching a contactless “self-scanning” application that includes personalized discount coupons. This application uses NFC (Near Field Communication) technology integrated into SES's G-tag+ NFC electronic labels. It allows shoppers to make up their shopping basket on their smartphone by holding it near the label, to benefit instantly from personalized discount vouchers, to know at all times the exact total of their purchases and to go through the checkout without unloading their basket. A real tool for winning over the connected shopper, the application aims to allow customers to do their shopping faster and more simply. Indeed, 90% of shoppers want to spend less time at the checkout and 76% of smartphone users use their phone during their instore shopping.

    Thierry Cotillard & Jean-François Hellio - Intermarché Issy Bords de Seine members - stated: "For the opening of the Intermarché Express Bords de Seine store, our strategy is to integrate the best technological solutions to meet the expectations of the ever-increasing number of connected shoppers. In this new store, we are providing our customers with the most innovative digital know-how to enhance their shopping experience. We are proud to be launching this world first." 

    David Dugué, Member and Administrator at the STIME, added: “Information systems are key in stores’ performance and their ability to deliver a high quality service: they have to rely on robust and innovative technologies. The contactless "self-scanning" developed with SES and BudgetBox meets this requirement while offering a new experience to Intermarché’s customers.”

    SES' dynamic and interactive labels are revolutionizing shoppers' instore experience

    Intermarché, a pioneer in adopting electronic labels, is the most equipped retailer in the world with over 1,300 SES supermarkets. For this world first, Intermarché has installed, in its Issy-Les-Moulineaux store, the new SES range, the G-tag+ NFC, that efficiently relays the retailer's promotion and loyalty policies thanks to its dynamic screens and its interactivity with shoppers' smartphones in the aisles.

    Thierry Gadou, CEO of Store Electronic Systems, concluded: "We welcome this launch, the fruit of long-term collaboration with Intermarché and the STIME, in order to offer the most enhancing innovations for both shoppers and stores. SES is proud to be working alongside Intermarché and the Stime for this world first that marks a major new step in instore shopping’s digital revolution."

     

    Next press release

    2014 annual results on March 30, 2015 after the markets have closed.

     

    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.

     

    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 strengthens its quality management system and obtains ISO 9001 certification Wednesday 12 November - 16:31
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    PARIS, November 12, 2014

    Store Electronic Systems strengthens its quality management system and obtains ISO 9001 certification

     

    Store Electronic Systems (SES), the leading supplier of electronic shelf labels (ESL) for large food and non-food retailers, announces it has obtained ISO 9001 certification, International Organization for Standardization, for all its after-sales and software maintenance activities.

    SES is the first company of its sector to receive this certification, demonstrating its ability to provide a high-quality service to a customer-base that is increasing every year in the growing global ESL market.

    Thierry Gadou, CEO of Store Electronic Systems, stated: "Our number one priority is customer satisfaction. To achieve it, SES has set up a Total Management approach to Quality implementing a specific policy to follow and meet customer requirements. This success is the recognition of the quality of our organization and our commitment to continuously improve our performance. This initial result is just the beginning. We plan in the short term to extend the approach to all departments and processes to make SES the absolute Quality benchmark of the ESL industry”.

     

    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

    Store Electronic Systems

       

    communications@ses-esl.com

       
     

     

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  • Store Electronic Systems presents the digital mock-up at the 3DEXPERIENCE Forum Friday 24 October - 16:46
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    Store Electronic Systems at the 3DEXPERIENCE FORUM:

    presentation of the digital mock-up with ATOS

    Store Electronic Systems will be at the 2014 3DEXPERIENCE FORUM FRANCE, hold in Paris (Palais Brongniart) on November 4th, 2014.

    The SES team will exhibit its latest innovation based on Dassault Systems'  "3DEXPERIENCE" platform: the digital mock-up of the connected store, developed with ATOS.

     

    Do not miss SES Conference about the digital mock-up of the connected store on Tuesday, November 4th at 5:00PM:  

    "The first digital mock-up of the connected store serving the increased buying experience"

    By François ROBIN, Innovation Project Manager at Store Electronic Systems.

    Find out more information on this event on the 3DEXPERIENCE Forum website.

     

     

     

     

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  • SES awarded a prize by EQUIPMAG's Innovation jury Thursday 25 September - 09:04
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    Store Electronic Systems (SES)
    awarded a prize by EQUIPMAG's Innovation jury

     

    Store Electronic Systems, the world leader in electronic shelf labeling systems (ESL) for food and non-food retailers, has been awarded the Silver Medal for Innovation at the Equipmag 2014 show, which took place in Paris from September 16 to 18, 2014. The jury, composed of industry experts, distinguished from among the many candidates SES' "Product Positioning System" (PPS), a geo-location solution accurately pinpointing the location of items in the store.

     

    This trophy rewards SES' efforts which every year invests a very significant share of its sales in R&D designed to integrate new technologies and provide its customers with new services. In just a few years, the company has become the leader of the connected store thanks in particular to its interactive electronic NFC label, several million of which have been sold since its launch (GOLD endorsement by the previous jury in September 2012). These same labels now constitute an accurate geo-referencing network of products in the store.

     

    The Product Positioning System solution has a marginal cost and requires no operational change. Indeed, in the standard ESL management process additional information is simply recorded: the address and the relative position of the labels in relation to each other. The whole of the planogram is thus continuously updated requiring no particular effort, allowing multiple applications for the retailer, the store, the consumer and the brands. This is therefore a new value-added for ESLs, an important incremental and promising ROI, with no additional investment. The Product Positioning System also ensures consumers can easily and accurately locate the products in their shopping lists thanks to this new embedded geolocation function in the retailer's mobile application.

     

    The Product Positioning System technology, developed by SES, continues on from the launch of the G-tag+ NFC (already given a gold award by Equipmag in 2012) and builds on this technological base with an unlimited potential for applications.

     

    SES is presenting the Product Positioning System to Equipmag on stand N46 as well as in the Echangeur's Retail Lab 2020 space. To better understand and discover this innovation, the following demonstrations are available:

    • Geo-localized shopping list
    • Picking Drive 
    • The digital model of the store and the planogram in real time

     

    Philippe Bottine, Technical and Industrialization Director of Store Electronic Systems stated: "We are very happy about receiving this prize which rewards a business strategy firmly directed at innovation. The announcement of the NFC iPhone 6 on September 9 firmly fixes NFC as the contactless technology of proximity and validates the strategic choices made 2 years ago by SES. This wave of products heralds the era of the connected store and many interactive shelf applications for consumers. SES has gained a decisive advance in this new market. By the end of 2014, we will have sold nearly 10 million G-tag+ NFC and equipped 1,000 stores ready to deploy a whole host of applications including self-scanning / tap and go”.

     

    Next press release

    2014 Q3 Sales : October 27, 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 welcomes the adoption of the NFC standard by Apple Wednesday 10 September - 17:52
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    Store Electronic Systems (SES)
    welcomes the adoption of the NFC standard by Apple and speeds up the generalization of NFC in its electronic labels

     

    Store Electronic Systems, the leading worldwide provider of electronic labeling solutions for retailers welcomes the arrival of the iPhone 6 equipped with NFC technology.   Apple's adoption of the benchmark "contactless" technology (Near-Field-Communication) NFC as the de facto standard for mobile payments validates the strategic choices made by SES some 2 years ago.

    By launching the first HD dynamic interactive electronic label equipped with NFC technology in the fall of 2012, SES asserted its dual vision:

    • The physical store will become a connected and interactive environment, able to provide more information and services to consumers at the shelf edge and allow an uninterrupted multi-channel shopping experience.  
    • NFC technology, due to its ergonomic superiority and its security will prove to be the dominant contactless technology for mobile payments, in retail, logistics and transportation.

    Joining other smartphone manufacturers already using the NFC standard (Samsung, LG, Nokia, Motorola, Lenovo, Huwaei etc.), Apple, by its announcement made yesterday, confirms the imminent generalization of NFC in smartphones (275 million NFC-ready smartphones sold in 2013, i.e. already 18% of total sales).

    Convinced by this dual vision, shared by many retailers, SES as leader of the connected store, launched in 2012 an ambitious industrial and commercial program whose results exceeded forecasts in just two years :

    • 10 million NFC-tags produced by the end of 2014;
    • Close to 1000 "full-NFC" stores installed in Europe and Asia, including one country's leading retailer already fully equipped with SES' NFC labels. 
    • The launch of a dozen innovative projects around NFC electronic tags with major retail customers of SES , across 3 continents. 

    With the launch of the iPhone 6, Apple has just confirmed NFC technology as the contactless standard and one of the major technical bases of the Internet of Things (IoT).

    All the conditions are now met for an explosion of applications and consumer uses based on contactless technology by capitalizing on the millions of SES NFC-tags already present in the stores. By simply touching the price label with their smartphone, the consumer will have access to a great deal of information on the composition, origin and manufacturing of the products. They will be able to geo-locate their shopping list and optimize their route around the store, quickly find the new products that they are looking for and manage their shopping basket while getting loyalty benefits and saving time thanks to the self-scanning mobile, etc. At the same time, retailers will be able to offer to the brands various services such as contextualized marketing, the integration of social media and cross and up-selling offers built into the loyalty systems. Other uses for retailers are also being developed to increase in-store operational productivity (real-time planogram, optimized picking of 'drive' baskets, fast identification of stock-outs, etc.)  

    The generalization of the NFC contactless standard in all smartphones now paves the way for the connected store and to a new era for brick and mortar and retailers, brands and consumers collaboration.

    In line with its strategy, SES is in the process of expanding its production capacity to generalize the use of the NFC standard to all its product lines.

    Thierry Gadou, CEO of Store Electronic Systems, stated: "The SES teams, pioneers of interactive electronic labels will long remember September 9, 2014. Apple's choice has confirmed in full our vision and our industrial strategy of the large-scale integration of NFC into our labels. The generalization of NFC now under way in smartphones and the potential in terms of in-store customer interactivity are another great boost to the adoption of electronic labels worldwide, particularly in North America and Asia. After public transportation passes, security and access cards or the bank card which have introduced contactless NFC technology into our everyday lives, the NFC electronic label will be a concrete example to the consumer of the revolution under way of the internet of things."

     

    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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  • 2014 half-yearly results: growth in sales and profits in H1 Thursday 28 August - 11:30
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    2014 half-yearly results
    Growth in sales and profits in H1

     

    •  Growth abroad (+32%) and in France (+5%)
    •  Earnings before interest and tax are €3.6 m (9% of sales), up 73% over H1 2013
    • Acquisition of Imagotag in May 2014
    • WCR transiently affected by the introduction of the new ERP system  

     

    Store Electronic Systems (NYSE, Euronext: SESL, FR0010282822), leader in Electronic Shelf Labeling (ESL) systems for large-scale food and non-food retailers, announces today its financial results for the first semester of 2014.

     

    SES reported consolidated sales of €40.4 m in H1 2014, up 16% over H1 2013. Organic growth comes in at +14% excluding Imagotag, which accounts for €0.9 m of consolidated sales.   Turnover is up both abroad (+32%) and in France (+5%). New orders come in at €47 m, i.e. a book-to bill ratio of 116%.

    Profits increased significantly, with earnings before interest and tax of €3.6 m, up 73% over H1 2013. The EBIT margin is 9%, up 3 points.

    Despite the tough economic challenges facing the retail sector in Europe, the group's strong performance in H1 and the number of new orders suggest that turnover and profits will continue to grow throughout 2014. 

     

    Sustained international growth

    International growth in H1 came in at +32%. SES experienced sustained growth in Europe, where it continued its roll-outs to existing clients and won new clients. SES now operates, either directly or via a strong network of partners, in almost all European countries. Sales outside of Europe (America, Asia, Pacific) accounted for slightly less than 15% of total international sales.  A few roll-outs continued in Latin America. In Asia, SES installed its first stores in Taiwan and work began with new clients in Singapore. In the United States, SES continued to install pilot stores and to develop important partnerships, thanks to which the presence and visibility of SES in the region are increasing quickly.

    Strong performance in France

    In France, growth in H1 2014 was up 5% over H1 2013 and 19% over the previous semester. In Q2, SES's performance in the domestic market was better than it has been in almost two years (+14%), thanks to the modernization of the installed base and the development of new market segments, particularly in the specialized, non-food retail sector.    

    New orders

    SES reported a strong sales momentum in the first semester, with new orders totaling €47 m (a book-to bill ratio of 116%), driven by innovation and international expansion. 

    Increased operating income

    EBIT came in at €3.6 m, up 73% over H1 2013 (€2.1 m). The EBIT margin was 9%, up 3 points over H1 2013 and 1.5 points over the 2013 average (9% vs 7.5%), with comparable annual average sales.  Earnings before interest, taxes, depreciation and amortization (EBITDA) came in at €5.7 m, i.e. 14% of sales, up 73% over H1 2013.

    The contribution margin[1] came in at €15.2 m, up 14% over H1 2013, driven by an increase in turnover.  The trade margin was 37.7%, remaining relatively stable year-on-year (vs. H1 2013) and showing sequential growth compared with the previous semester.  Operating expenses before interest and taxes were up 3% year-on-year, despite a substantial increase in amortization expense (€2.1 m, i.e. +75%), due to the ongoing implementation of R&D and information system projects. 

    The non-recurring costs incurred to achieve external growth through the acquisition of Imagotag came in at €0.6 m, mostly accounted for by legal fees, audits, expert appraisals and the services of a commissaires aux apports (acquisition auditor).

    After taking into account these non-recurring costs, operating income (EBIT) came in at €3 m, i.e. 7.5% of sales, up 46% over H1 2013. In line with forecasts, the acquisition had no impact on the operating margin in H1 (€51 K).

    Taking into account the financial result (€+0.1 m) and corporate income tax (€-1 m), net profit came in at €2.1 M, i.e. 5% of sales, up 26% over H1 2013.

     

    Net cash position (€13 m) impacted by the acquisition of Imagotag and the introduction of the new ERP system

    Store Electronic Systems had a net cash position of €13 m at end of June 2014 vs.  €22.2 m at end of December 2013, i.e. a decrease of €-9.2 m over six months. This can be explained by the acquisition of Imagotag (€-3.1 m net impact) and by a significant but temporary increase in the WCR, mainly due to the introduction of a new ERP system during the first semester.  As expected, the go-live of the new ERP system at the start of the year was followed by a period of adjustment and learning, which disrupted and delayed invoicing, collection and cash flow management processes. This led to an abnormally large, but temporary, increase in the WCR, which affected the cash position at the end of June.  These issues are now being resolved and the effects should be partially reabsorbed during the second semester. At the same time, additional modules will gradually be integrated into the new system.

    Investments reached €3.3 m, mainly allocated to R&D (€2.4 m) and ERP / IS projects (€0.9 m).

    On a like-for-like basis (excluding Imagotag) and without the temporary impact of the new ERP system on the WCR, the operating cash flow would be positive. 

     

    Outlook for H2 2014: profitable growth in 2014

    After its strong performance in the first half of the year, despite the tough economic climate in Europe, SES is confident that it will achieve its full-year growth and profit targets for 2014. 

    According to CEO Thierry Gadou: Despite the current economic climate, which is not conducive to investment in the retail sector, SES reported strong growth during the first half year (+16%), both in France (+5%) and abroad (+32%). In Q2, SES performed better in France than it has done in almost two years. In Europe, our sales are growing strongly and are now picking up in all countries. At the same time, we are continuing to invest commercially in the rest of the world (America, APAC), as these regions are also subject to growing price volatility and rising labor costs and will no doubt follow the same path as Europe. The first semester was also marked by the strategic acquisition of Imagotag, which will enable the new group to offer the widest and most technologically advanced range of electronic labeling solutions on the market. The development of sales, technological and industrial synergies is going according to plan. 

    In the first semester, the combined effects of the i3 transformation plan substantially increased SES's operating margin. This performance is a firm step toward achieving our full-year growth and profit targets.

     


    [1] Contribution margin = gross margin after deducting variable costs from sales: transport, commission and external installation services. 

     

    Next press release

    2014 Q3 Sales : October 27, 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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