Update: Positive growth trend hidden by volatility
Although revenue declined slightly y-o-y, core operating income improved by 4.8% from €6.2m to €6.5m as a result of efficiency gains and a favourable mix of business. Excluding the significant Scandinavian contract that rolled out in 2013, international revenue grew by 32% y-o-y and domestic revenue grew by 9.9%. We are optimistic that this trend will continue and expect the key drivers of growth to be Imagotag’s colour ESLs and improved economic conditions in the retail market.Ses Imagotag SA Formerly known as Ses-Imagotag SA. Ses Imagotag SA is a France-based company, which designs and markets electronic shelf labeling systems for food and non-food retail industries. The Company's solutions include store electronic systems (SES), electronic labels, software, radio and mounting systems. The Company's solutions are designed for every type of retail environment, including hypermarkets, supermarkets, electronics stores, garden centers, pharmacies and service stations. The Company's products are distributed in approximately 50 countries worldwide. Ses Imagotag SA's main clients include Intermarche, E. Leclerc, Monoprix, Groupe Casino, Carrefour and Auchan. The Company has a global presence, through its own subsidiaries and representations, in Italy, Spain, the United Kingdom, Scandinavia, Canada, Mexico and Singapore, as well as more than 60 international partners. It operates through imagotag GmbH, a manufacturer of electronic components.
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