Report
Aurelien Sivignon

SES - imagotag : Résultat S1 inférieur à nos attentes - la marge brute reste néanmoins stable

>EBITDA S1 à 0.1 M€ (vs 7.3 M€ au S1 2017 et 3.2 M€e) - SES-imagotag a publié hier soir des résultats semestriels en baisse, impactés par le ramp up industriel de la nouvelle gamme Vusion, et qui ressortent globalement inférieurs à nos attentes. Pour un CA (déjà publié) en recul de 14.9% à 81.2 M€, l’EBITDA ressort à 0.1  M€ (vs 3.2 M€e) : la marge s’établit ainsi à 0.1% contre 7.6% au S1 2017. Le ROC recule à -5 M€ (vs -1 M€e) tandis que le RNpg est en forte baisse...
Underlying
SES-imagotag SA

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.

Provider
Oddo BHF
Oddo BHF

​Oddo Securities provides securities brokerage and research services. The company offers equity, economic, and derivatives research and credit analysis services. It focuses on insurance, automotive, building materials, pharmaceuticals, telecommunications, information technology, and agri-food industries.

Analysts
Aurelien Sivignon

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