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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

    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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  • 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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  • Q3 2013 : Sales up +62% with record international growth Tuesday 29 October - 18:00
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    Paris, October 29, 2013 – Sales for the 3rd quarter of 2013 

    • Q3 sales up +62% to €23.9 million
    • Particularly strong international growth: +201%
    • Commercial success of the graphic-dynamic-interactive G-tag+ NFC range
    • First worldwide deployment at an accelerated pace of 100 stores a month  

     

     

     

     

     

    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 third quarter to September 30, 2013.

     

    Sales (€ millions) France International Total

    Q1 2012

    Q1 2013

    Δ

    11.2

    10.0

    -10%

    4.7

    5.9

    +26%

    15.9

    15.9

    0%

    Q2 2012

    Q2 2013

    Δ

    9.7

    10,2

    +5%

    5.2

    8.7

    +71%

    14.9

    18.9

    +27%

    Q3 2012

    Q3 2013

    Δ

    9.6

    8.5

    -12%

    5.1

    15.4

    +201%

    14.7

    23.9

    +62%

    2012 9-month sales

    2013 9-month sales

    Δ

    30.5

    28.6

    -7%

    15.0

    30.0

    +100%

    45.5

    58.7

    +29%

     

    Store Electronic Systems recorded third-quarter sales of €23.9 million, an increase of +62% over the same quarter of 2012. International sales reached a record of over €15 million, driven by growth in Northern Europe. Over the first 9 months of 2013, international sales doubled compared with 2012 and exceeded sales in France.

    The Group is continuing to implement its transformation and development plan, and is reaffirming its 2013 annual guidance for growth in both sales and operating profit compared with 2012.       

    Record international growth

    SES has reaffirmed its very strong international momentum and recorded sales of €15.4 million (+201%) over the 3rd quarter of 2013, driven by the largest global deployment of graphic labels currently being carried out by SES in Scandinavia. In Europe, this dynamism also concerns other countries such as Italy, notably with Carrefour Market resuming store deployments.

    Development outside Europe is continuing due to strong sales and marketing activities. Successes have notably been recorded in Latin America, with the first significant deployments already underway or having been agreed. SES is also pursuing its development efforts in North America and the Asia-Pacific region. 

    Weak French market over the summer period

    In France, over the 3rd quarter SES recorded sales of €8.5 million, down -11,5% compared with the same period last year. This decrease is due to the lower number of installations resulting from the lack of any major new deployments. SES is continuing the rapid deployment in Simply Market stores and has carried out a number of promising pilot schemes that bode well for further deployments in 2014. The level of customer loyalty and the renewal rate of the installed base are very satisfactory.

    The latest generations of labels are continuing to stimulate the modernization of stores, as illustrated by the recent opening of the first Auchan hypermarket at Roissy Aéroville, Charles-De-Gaulle airport (the largest shopping centre opened in the Paris region in the last 20 years), equipped with the graphic-dynamic G-tag+ range.

    Despite the high number of stores already outfitted, the French market remains a growth and innovation market for electronic labels for the coming years.  

    Sales growth of +29% over the first 9 months, due to innovation and international activity

    SES is continuing to drive growth in the worldwide ESL market, with sales for the first 9 months of 2013 totaling close to €60 million, thanks to innovation. Indeed, this year successes are marked by the rapid adoption of SES’ latest innovations. The NFC interactive labels launched barely a year ago will this year see the number of units ordered exceed 5 million, in 2013, thus representing a third of the Group’s production. The adoption curve of NFC technology by major retailers is continually improving as the latter become more aware of the future services and benefits offered to connected consumers.

    Over the first 9 months of the year, close to 850 new stores were outfitted, giving a substantial increase in the total number of stores equipped to over 6,000 in the 3rd quarter. SES recorded its 51st client country with a first installation in Sweden.   

    Orders taken totaled almost €20 million over the 3rd quarter and €70 million over the last 9 months.  

    Highlights and outlook

    Regarding last quarter and the Group’s outlook, Thierry Gadou, CEO of SES, says: “The accelerated globalization of SES is gradually eliminating the seasonal effect. This third quarter was a busy one with little in the way of a ‘summer break’ for our teams, who I would like to thank and congratulate for their commitment, competence and motivation.

    Each quarter provides further measurable achievements concerning the implementation of our transformative plan. In Scandinavia, SES is currently carrying out the fastest-ever ESL deployment, with more than 25 new stores being outfitted every week. This productivity boosted third quarter sales and enabled our quarterly sales to exceed €20 million.

    The other driving force behind this growth is innovation: our new software and wireless platform fully meets the expectations of our most demanding clients; the success of our new range of dynamic and interactive HD graphic labels (G-tag+ NFC) is hitting the mark because it allows retailers’ marketing and promotional policy to be efficiently articulated in store all the while paving the way for the “connected” stores. As NFC becomes more widespread in mobile phones, the ability to digitally trace customers’ in-store movements thanks to interactive electronic labels will make it possible to offer our clients detailed, customized, geolocated and pertinent information.

    Lastly, our international offensive is bearing fruit, with activity outside France doubling in 2013 and already accounting for more than half of total sales. As expected, our profitability improved over the 3rd quarter. For the year as a whole, we are reaffirming our guidance for both sales and EBIT growth compared with 2012.

    Next press release

    2013 annual sales: January 30, 2014 (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.

    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 extends its reach in Latin America Tuesday 22 October - 22:57
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    SES extends its reach in Latin America

    Paris, October 22nd 2013

    Store Electronic Systems (NYSE Euronext: SESL, FR0010282822), the leader in electronic shelf labeling for the retail sector, announced today the conclusion of several important contracts in Latin America.

    Walmart Argentina selects Store Electronic Systems for a first wave of roll-outs

    Having considered several electronic labeling solutions for two pilot projects in 2009 and 2012, Walmart Argentina has selected the world leader Store Electronic Systems to equip a first set of 28 supercenters.

    « We chose Store Electronic Systems for their comprehensive and scalable solution, as well as their ability to provide local support for our in-store staff ».

    Federico Montelatici, Responsible of Productivity at Walmart Argentina

    Telcel, Mexico's leading mobile phone company, equips 44 stores with SES latest full-graphic solution

    Telcel, which is owned by América Móvil - the leading telecommunications company in Mexico - has chosen the SES system and its G-tag (graphic) labels for a first set of 44 mobile phone stores, and studies the option of extending the roll-out in 2014.

    « Besides automating pricing, the pixel-based G-tag ESL labels will help us to improve our customer service - which is a core component of our sales strategy - by displaying a wide range of information specific to our line of business ».

    Alejandro Gutierrez, Head of Value Added Services and Digital Marketing at Telcel

    The Comercial Control group has completed the installation of the SES solution in 75 department stores

    Mexican group Comercial Control has equipped all 75 of its Delsol and Woolworth's department stores with the SES solution, including 600,000 S-tag+ electronic labels. These labels operate at a very high bandwidth enabling to display several pages of information, so that store management data is available at all times.

    « The SES solution has made our in-store staff more efficient. They are now able to view management data directly on the shop floor and to make the right decisions on the spot ».

    Raúl Rodriguez, Operations Director at Comercial Control Group

    Latin America, a continent full of promise

    SES' CEO, Thierry Gadou, stated that “We have just installed our 250th store in Mexico and are extending rapidly our market presence in Brazil, Argentina and Chile. SES is now the N°1 player in the region and these roll-outs justify the decision we made in 2012 to step up the group's investments in Latin America after the set-up of our Mexican subsidiary. Latam is a key contributor to our global growth strategy”.

    Next press release

    Q3 2013 sales: October 29th 2013

     

    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 (1) 44 71 98 75

     

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  • Brand new Auchan Hypermarket opening in ROISSY with SES latest graphic-dynamic ESL Wednesday 16 October - 08:53
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    Brand new Auchan Hypermarket opening in ROISSY with SES latest graphic-dynamic ESL

     

    Today opens the Aéroville shopping center near ROISSY CdG airport, the largest mall opened in 20 years in the Paris region. 200 stores and 17 restaurants cover the 84,000 m² including Marks & Spencer and a brand new 8,000 m² Auchan hypermarket fully equipped by Store Electronic Systems latest generation of electronic graphic and dynamic G-tag+ labels.

     

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  • Q2 2013 sales: SES increases its leadership on the worldwide ESL market Tuesday 30 July - 23:40
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    Paris, 31st July 2013 – SES increases its leadership on the worldwide ESL market

    Record Q2 2013 sales of €18.9 million, up +27%

    • International acceleration: +71% in Q2
    • Growth in France: +5% in Q2
    • H1 sales up +13%, driven by international sales (+47%)
    • Record orders taken over the half: €49 million

    Store Electronic Systems (NYSE Euronext: SESL, FR0010282822), the 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 2013.

     

    Sales (€ millions) France International Total

    Q1 2012

    Q1 2013

    Change

    11,2

    10,0

    -10%

    4,7

    5,9

    +26%

    15,9

    15,9

    0%

    Q2 2012

    Q2 2013

    Change

    9,7

    10,2

    +5%

    5,2

    8,7

    +71%

    14,9

    18,9

    +27%

    H1 2012

    H1 2013

    Change

    20,9

    20,2

    -3%

    9,9

    14,6

    +47%

    30,7

    34,8

    +13%

     

    Over the 2nd quarter of 2013, SES recorded sales of €18.9 million, up +27% on the 2nd quarter of 2012. Activity grew by +5% in France, but was essentially driven by the acceleration in international sales, which increased by +71% to a record €8.7 million (46% of total sales).

    Over the 1st half of 2013, SES recorded sales of almost €35 million, an increase of +13% compared with the 1st half of 2012, driven by international sales (+47%). A total of 453 new stores were fitted out. Orders taken reached a record €49 million, giving a book-to-bill ratio of 140% over the half.

    Thanks to its innovative and competitive product range, efficient organization and motivated teams, SES is increasing its global ESL market leadership position quarter after quarter.

    International acceleration

    SES is successfully pursuing its international development plan and has recorded buoyant sales growth for the 3rd straight quarter (+64% in Q4 2012, +26% in Q1 2013, +71% in Q2 2013).

    Thanks to a number of major deployment contracts signed in recent months, there was a significant increase in the number of stores fitted out. This growth also concerned renewals and maintenance activity. Over the 1st half of the year, Latin America, Southeast Asia and Northern Europe saw particularly strong growth thanks to the sales and marketing efforts undertaken since 2012 to develop these markets. Sales in Southern Europe (Italy, Spain) also saw an upturn, despite a difficult economic environment, as a result of solid sales momentum. Over the 1st half of the year, international sales thus jumped by +47%.

    Moreover, considerable development efforts continued in other high-potential regions (North America, Eastern Europe, Middle East and Far East). This business development activity is resulting in an increase in the number of new pilot projects and in the sales opportunity portfolio, thus providing visibility regarding the future.

    Over the 2nd quarter, international sales accounted for 46% of total SES sales, a percentage that should continue to rise in coming quarters.

    Growth in France

    France saw a return to growth over the 2nd quarter (€10.2 million, +5%), but more importantly recorded sequential half-year sales growth of +7.5% between the 2nd half of 2012 (€18.8 million) and the 1st half of 2013 (€20.2 million).

    Coming despite the large number of stores already fitted out and an economic situation that has limited the number of new installations, this performance can notably be explained by client loyalty and the high rate of renewal for SES’ installed base on its domestic market, as well as by the Company’s innovation policy. The range’s new products (G-tag+, NFC-tag) and software have been introduced into the majority of major independent and integrated chains of retailers that are clients of SES.

    On top of food retailers, substantial work is currently being undertaken with specific solutions and teams to fully grab the upcoming potential of non-food and specialized retailers.

    Worldwide leadership

    Over the 1st half of 2013, SES increased its market share and further strengthened its position as the world n°1 in ESL solutions for the mass retail sector.

    At the same time as these infrastructures are being put in place, the applications that will underpin new interactive uses are being developed: “Our retailer clients are preparing to bring digital technology into their stores and to talk to consumers in the future in order to provide new services. Thanks to the key advantage provided by intelligent stores, mass retailers around the world henceforth know that they can become e-commerce and multi-channel leaders”, says Thierry Gadou, CEO of SES.

    Outlook: an upturn in profitability

    Mainly because of international growth investments resulting in a level of expenses running ahead of the sales curve, as well as because of new regions currently being developed not yet having reached their critical size (notably the Americas and APAC), first-half profitability is likely to be below that of the previous half – a situation that is in line with the Company’s market plan. However, given growth prospects, profitability should, as expected, see an upturn over the 2nd half of the year.

    For the 2nd half, SES is thus expecting further growth driven by international activity. Its offensive in terms of innovation will also continue, with the launch of new offers and technological solutions.

    Thierry Gadou concludes: “SES is moving rapidly forward in the methodological implementation of its “i3” strategic plan that is based on three priorities: international, innovation, industrialization. During the 2nd half, SES will see the contribution of international sales increase to over 50% of total sales. As we move forward in a market whose potential is confirmed, our ambition is becoming clearer: to be global, to be involved in helping the world’s largest retailers take onboard the digital revolution and to increase our competitiveness thanks to our world n°1 position and to our unique experience curve. I also know that we can rely on a key asset in this battle: the passion and mindset of SES staff to serve our customers.

    Next press release

    Results for the first half of 2013: August 28, 2013

    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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