Annual Report • Feb 12, 2015
Annual Report
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| Fourth quarter | Full year |
|---|---|
| 115 (114) | 541 (523) |
| 173.2 (151.9) | 583.0 (524.6) |
| 24.6 (21.9) | 24.0 (23.7) |
| 7.2 (2.1) | 15.9 (14.3) |
| 4.2 (1.4) | 2.7 (2.7) |
| 13.6 (56.5) | |
| -55.5 (4.2) | |
| -0.05 (-0.04) | -0.51 (0.04) |
| 56.8 (52.5) -5.1 (-4.9) |
1) Excluding non-recurring costs of SEK 0.0 (6.5) million for Q4 2014 and SEK 37.5 (6.5) million for the full year 2014.
2) Excluding non-recurring costs of SEK 12.1 (6.5) million for Q4 2014 and SEK 69.0 (6.5) million for the full year 2014.
3) Amortization of capitalized development costs have been reclassified from research and development costs to the cost of goods sold. The effect of this is SEK 2.8 (2.9) million for Q4 2014 and SEK 11.2 (9.1) million for the full year 2014.
Having completed 2014, we can conclude that Pricer during the year has managed to increase sales and orders, at the same time as we completed a major restructuring.
There has been a positive development in the order intake during the second half of 2014, after a decreasing trend in the first half. The order intake increased by 24% compared to 2013 to SEK 281 (227) million in the second half. Note that the new agreement with NorgesGruppen that was communicated in December 2014 is not included in order intake for the fourth quarter but will be included in order intake for the first quarter 2015.
The agreement with NorgesGruppen has laid the foundation for sales growth in 2015, with deliveries already beginning in the first quarter.
Previously reported provisions for warranty, write-down of inventory and development projects have proven sufficient. Work on quality issues related to certain suppliers has been intense, but we can now conclude that we regard the problems to be resolved.
A fundamental improvement program for the operational quality began in 2014 and will continue in 2015.
The restructuring process has also been completed and largely within the previously announced time and cost frames and no additional structural costs are deemed necessary. The Pricer reorganization has brought important new recruits adding new competence in both management and key positions.
At the retail trade show NRF in New York, USA, in January this year, Pricer presented its first in-store solutions based on the digital strategy as announced in 2014. Pricer's infrastructure for electronic pricing is now also including mobile and product positioning in the store and communication with a flashing light on the label, named SmartFlash. This creates a communication platform that communicates intelligently in real time with store staff as well as the customers at the shelf edge.
Reactions from partners and customers are positive. The return on investment for the retail customer is improved when the system, in addition to electronic price optimization, also provides tools for operational efficiency and improved customer interaction. Industry reactions have given Pricer confidence for the future venture and build-up of a strong market position.
The solutions presented in January are important and represent the first step in the digital repositioning process by Pricer. Bringing these solutions to market in a commercialized form will be Pricer's challenge for 2015. Despite the ongoing investments in software development, we expect to see a certain positive effect on sales and operating profit in 2015 and further improvement in 2016. We do, however, not give any forecast for 2015.
Norway emerges more and more as a leading market for electronic price marking systems together with France and Japan.
In France, the company received additional important orders from Intermarché, which has been a key customer in 2014 with a total of 140 stores contracted. Media Markt's advertising during the year, shows that the market drivers are changing. According to Media Markt´s press release, the company has regained market share in the Netherlands during the quarter thanks to Pricer's solutions. Delhaize in Belgium has also placed significant orders in the fourth quarter and the Italian market has developed well during the same quarter. Continued successful roll-out of the Pricer system for Dairy Farms in Singapore and the completion of a retail installation in Japan by our partner Ishida also led to growth in Asia in 2014.
Sales in the region totaled SEK 493.3 (443.9) million.
Sales in the region totaled SEK 44.7 (51.6) million.
Sales in the region totaled SEK 45.1 (29.1) million.
Order intake was SEK 115 (114) million in the fourth quarter, an increase of 1 percent compared to the fourth quarter of 2013. The agreement with NorgesGruppen by our partner PSI Systems reported in the fourth quarter has led to orders over SEK 90 million in the first quarter of 2015.
Net sales totaled SEK 173.2 (151.9) million in the quarter. The increase in sales was 14 percent compared to the fourth quarter of last year. Adjusted for currency fluctuations, net sales increased by 7 percent.
Gross profit was SEK 42.6 (33.2) million, and the gross margin was 24.6 (21.9) percent for the quarter.
Operating expenses, excluding non-recurring costs increased to SEK 35.4 (31.1) million for the quarter. Operating expenses in the fourth quarter have been charged with costs for the development of the new digital strategy and new products linked to this.
Operating profit was SEK 7.2 (2.1) million for the quarter, an operating margin of 4.2 (1.4) percent.
Order intake for the full year was SEK 541 (523) million, a rise of 3 percent compared to last year.
Net sales totaled SEK 583.0 (524.6) million for the full year. The increase in sales was 11 percent compared last year.
Gross profit was SEK 139.8 (124.4) million and the gross margin was 24.0 (23.7) percent for the full year.
Operating expenses, excluding non-recurring items were SEK 123.9 (110.1) million for the full year, representing an increase of approximately 13 percent year on year. The increase was primarily due to a lower capitalization rate for development costs and costs related to the development of the new digital strategy.
Operating profit was SEK 15.9 (14.3) million for the full year and is primarily an effect of the negative results in the first quarter.
Translation differences in other comprehensive income consisted of foreign currency translation of net assets in foreign subsidiaries in euros and dollars, primarily goodwill.
| Q 4 | Q 4 | Full y ear | Full y ear | |
|---|---|---|---|---|
| 2014 | 2013 | 2014 | 2013 | |
| % change in Order intake | 1% | 50% | 3% | 2% |
| whereof currency translation difference | 6% | 3% | 5% | -2% |
| % change in Order intake adjusted for currency translation difference -5% | 47 % | -2% | 4% | |
| % change in Net sales | 14% | 5% | 11% | -4% |
| whereof currency translation difference | 7 % | 1% | 5% | -2% |
| % change in Net sales adjusted for currency translation difference 7 % | 4% | 6% | -2% |
| NET SALES AND OPERATING PROFIT2), SEK M | ||||
|---|---|---|---|---|
| Q 4 | Q 4 | Full y ear | Full year | |
| 2014 | 2013 | 2014 | 2013 | |
| Net sales | 17 3,2 | 151,9 | 583,0 | 524,6 |
| Cost of goods sold1 | -130,6 | -118,7 | -443,2 | -400,2 |
| Gross profit1 | 42,6 | 33,2 | 139,8 | 124,4 |
| Gross margin1 | 24,6% | 21,9% | 24,0% | 23,7 % |
| Operating expenses2&3 | -35,4 | -31,1 | -123,9 | -110,1 |
| Operating profit4 | 7 ,2 | 2,1 | 15,9 | 14,3 |
| Operating margin4 References 1-3, see page 1 |
4,2% | 1,4% | 2,7 % | 2,7 % |
Fourth quarter
Cash flow from operating activities was SEK 56.8 (52.5) million in the fourth quarter. A significant improvement has taken place during the quarter, which is an effect of ongoing projects to reduce capital tied up in inventory and accounts receivable.
Cash flow from operating activities was SEK 13.6 (56.5) for the full year. Working capital (including provisions) was SEK 238.4 (269.6) million at the end of the period. Part of the non-recurring costs have reduced cash flow.
Cash and cash equivalents at the end of the period were SEK 53.0 (48.9) million. In addition to cash, Pricer has an unutilized overdraft totaling SEK 50 million and an additional SEK 50 million as a credit commitment.
The fair value of derivatives at the end of the period were; asset SEK 0 (0.1) million and liabilities SEK 0 (1.1) million.
During the second quarter, a share savings program was launched for employees as determined at the Annual General Meeting in May 2014. 330,000 shares have been issued and repurchased at the issue price, and are now held by the company ahead of the commitment for matching shares in three years. The value of the commitment has been accounted for in accordance with IFRS 2 and is expensed over the vesting period.
| Stated in thousands of shares | Series A | Series B | T otal |
|---|---|---|---|
| Issued at the beginning of the y ear, 2014-01-01 | 226 | 110 416 | 110 642 |
| Issued and conv erted shares in the year | 330 | 330 | |
| Issued at the end of the period, 201 4-12-31 | 226 | 110 7 46 | 110 97 2 |
| Treasury shares | - | -1 07 9 | -1 07 9 |
| Outstanding shares at end-of period | 226 | 1 09 667 | 109 893 |
Class A share holds five votes and class B share one vote
Investments in fixed assets were SEK 3.6 (3.5) million in the fourth quarter, and consisted mainly of capitalized development costs of SEK 2.7 (3.5) million.
Investments in fixed assets were SEK 11.6 (26.1) million for the full year and consisted mainly of capitalized development costs of SEK 7.4 (20.3) million.
The Parent Company's net sales totaled SEK 465.8 (433.3) million and net profit was SEK -61.7 (-7.5) million for the full year, corresponding to SEK 0.6 (-1.0) million before non-recurring costs. Cash and cash equivalents were SEK 44.5 (37.6) million at the end of the period.
The average number of employees was 79 (77) for the period, and the number of employees at the end of the period was 83 (77).
Jonas Vestin took over as CEO on August 14. Harald Bauer, Pricer's CFO who was also acting CEO, left the company at the same time. Claes Wenthzel joined in late August as interim CFO.
Charles Jackson took over as Executive Vice President for Pricer's global sales, marketing and strategy in December.
Helena Holmgren will take over as the new CFO in March 2015.
As previously reported the second quarter of 2014 was charged with non-recurring cost totaling SEK 52.8 million related primarily to component problems for delivered goods. Cost of goods sold was charged with SEK 37.5 million. Of these provisions, SEK 21.9 million remain at December 31, which is considered to cover the remaining costs. Furthermore research and development costs were charged by SEK 15.3 million in the same quarter, relating to impairment of development projects that are no longer deemed to be launched.
The structural changes announced in the second quarter were charged to earnings at SEK 16.0 million of which SEK 12.1 million in the fourth quarter. Operating profit excluding these nonrecurring costs amounted to SEK 7.2 (2.1) million in the fourth quarter.
| Q 4 | Q 4 | Full year | Full y ear | |
|---|---|---|---|---|
| Amounts in SEK M | 2014 | 2013 | 2014 | 2013 |
| Operating profit | -4,9 | -4,4 | -53,1 | 7 ,8 |
| Component problems | - | 6,5 | 37 ,5 | 6,5 |
| Write-down of development project | 0,2 | - | 15,5 | - |
| Structural change | 11,9 | - | 16,0 | - |
| Total adjustment | 12,1 | 6,5 | 69,0 | 6,5 |
| Adjusted operating profit | 7 ,2 | 2,1 | 15,9 | 14,3 |
Pricer's results and financial position are affected by various risk factors that need to be considered when assessing the Group and the Parent Company and their future potential. These risks primarily refer to the development of the electronic shelf labels market. With the customer structure in mind and the extensive scope of the agreements, any delay of the installations could have a significant impact on an individual quarter. Other risks, see Annual Report 2013, Pages 12 and 38.
No significant transactions have occurred with related parties that significantly affected the Group's or Parent Company's financial status or earnings.
This interim report has been prepared in accordance with IAS 34 Interim Financial Reporting and the applicable provisions in the Annual Accounts Act (ÅRL). The interim report has been prepared in accordance with the Annual Accounts Act Chap. 9 and RFR 2. The Group and Parent Company have applied the same accounting policies and methods of calculation as those used in the last annual report.
The new or revised IFRS that have come into force on 1 January 2014 have not had any material effect on the consolidated financial statements.
The amortization of capitalized development costs recognized during the year has been reclassified from research and development costs to cost of goods sold. The amount for 2014 is SEK 11.2 million and SEK 9.1 million for 2013. This in order to clarify the link to the sales that the developed products generate after launch, which is normally also when amortization begins.
No forecast is given for 2015.
The AGM will be held on April 23 at 4pm at the Stockholm Waterfront Congress Center. The last day to request matters to be addressed at the AGM is March 19.
The Board will not be proposing a dividend for 2014 at the AGM.
The annual report for 2014 will be published on Pricer's website in early April and distributed to those who request a copy.
The Interim Report for January – March 2015 will be published April 23, 2015.
Stockholm, February 12, 2015
Board and CEO
In its capacity as issuer, Pricer AB is releasing the information in this year-end report 2014 in accordance with the Swedish Securities Exchange Act (2007:528). The information was distributed to the media for publication at 8.30 CEST on Thursday, February 12 2015.
Jonas Vestin CEO or Claes Wenthzel CFO, Pricer AB: +46 (0)8-505 582 00
| Kv 4 | Kv 4 | Helår | Helår | |
|---|---|---|---|---|
| Belopp i MSEK | 2014 | 2013 | 2014 | 2013 |
| Nettoomsättning | 17 3,2 | 151 ,9 | 583,0 | 524,6 |
| Kostnad för sålda v aror1, 5) | -130,6 | -125,2 | -480,7 | -406,7 |
| Bruttoresultat1) | 42,6 | 26,7 | 102,3 | 117 ,9 |
| Försäljnings- och administrationskostnader3) | -41,1 | -26,6 | -11 8,7 | -94,9 |
| Forsknings- och utv ecklingskostnader2, 5) | -6,4 | -4,5 | -36,7 | -1 5,2 |
| Rörelseresultat4) | -4,9 | -4,4 | -53,1 | 7 ,8 |
| Finansiella intäkter och kostnader, netto | 0,5 | 0,4 | -0,1 | -0,1 |
| Resultat före skatt4) | -4,4 | -4,0 | -53,2 | 7 ,7 |
| Skatt | -0,7 | -0,9 | -2,3 | -3,5 |
| Periodens resultat4) | -5,1 | -4,9 | -55,5 | 4,2 |
| Övrigt totalresultat | ||||
| Poster som har omförts eller kan omföras till periodens resultat | ||||
| Omräkningsdifferenser | 1 3,7 | 10,2 | 23,8 | 1 2,2 |
| Kassaflödessäkringar, netto | - | 0,3 | 0,2 | -0,5 |
| Skatt hänförlig till poster i öv rigt totalresultat | -0,7 | -0,7 | -1,2 | -0,6 |
| Periodens övrigt totalresultat | 13,0 | 9,8 | 22,8 | 11,1 |
| Periodens totalresultat | 7 ,9 | 4,9 | -32,7 | 15,3 |
| Periodens resultat hänförligt till: | ||||
| Moderbolagets ägare | -5,1 | -4,9 | -55,5 | 4,2 |
| Periodens totalresultat hänförligt till: | ||||
| Moderbolagets ägare | 7 ,9 | 4,9 | -32,7 | 1 5,3 |
1) Inklusiv e engångskostnader på 0 (6,5) MSEK för kv artal 4 2014 och 37 ,5 (6,5) MSEK för helåret 201 4 2) Inklusiv e engångskostnader på 1 ,1 (0) MSEK för kv artal 4 2014 och 1 6,4 (0) MSEK för helåret 2014 3) Inklusiv e engångskostnader på 1 1,0 (0) MSEK för kvartal 4 2014 och 15,1 (0) MSEK för helåret 201 4 4) Inklusiv e engångskostnader på 1 2,1 (6,5) MSEK för kv artal 4 2014 och 69,0 (6,5) MSEK för helåret 2014 5) Av skriv ningar av aktiv erade utv ecklingskostnader har omklassificeras från funktionen forsknings- och utv ecklingskostnader till kostnad för sålda v aror, effekten av detta är 2,8 (2,9) MSEK för kv artal 4 201 4 och 11 ,2 (9,1) MSEK för helåret 201 4.
| Kv 4 | Kv 4 | Helår | Helår | |
|---|---|---|---|---|
| 2014 | 2013 | 2014 | 2013 | |
| Resultat per aktie före utspädning, SEK | -0,05 | -0,04 | -0,51 | 0,04 |
| Resultat per aktie efter utspädning, SEK | -0,05 | -0,04 | -0,51 | 0,04 |
| Antal aktier, miljoner | 109,9 | 109,9 | 109,9 | 109,9 |
| Antal aktier efter utspädning, miljoner | 109,9 | 109,9 | 109,9 | 109,9 |
| Kv 4 | Kv 4 | Helår | Helår | |
|---|---|---|---|---|
| Belopp i MSEK | 2014 | 2013 | 2014 | 2013 |
| Europa, Mellanöstern & Afrika | 141 ,0 | 131 ,6 | 493,3 | 443,9 |
| Amerika | 15,6 | 6,1 | 44,7 | 51 ,6 |
| Asien & Stillahav sområdet | 1 6,7 | 1 4,2 | 45,1 | 29,1 |
| Sum m a om sättning | 17 3,2 | 151,9 | 583,0 | 524,6 |
| Amounts in SEK M | 2014-12-31 | 2013-12-31 |
|---|---|---|
| Intangible fixed assets | 263,4 | 269,1 |
| Tangible fixed assets | 8,1 | 7 ,2 |
| Deferred tax assets | 101 ,7 | 101 ,2 |
| T otal fixed assets | 37 3,2 | 37 7 ,5 |
| Inv entories | 157 ,7 | 148,4 |
| Current receiv ables | 231,3 | 226,4 |
| Cash and cash equiv alents | 53,0 | 48,9 |
| T otal current assets | 442,0 | 423,7 |
| T OT AL ASSET S | 815,2 | 801,2 |
| Shareholders' equity | 659,7 | 691 ,9 |
| T otal equity | 659,7 | 691,9 |
| Long-term liabilities | 4,9 | 4,1 |
| Short-term liabilities | 150,6 | 105,2 |
| T otal liabilities | 155,5 | 109,3 |
| T OT AL EQUIT Y AND LIABILIT IES | 815,2 | 801,2 |
| Pledged assets | 60,5 | 60,4 |
| Contingent liabilities | 0,8 | 0,8 |
| Basic shareholders' equity per share, SEK | 6,00 | 6,30 |
| Diluted shareholders' equity per share, SEK | 6,00 | 6,30 |
| Full y ear | Full y ear | |
|---|---|---|
| Amounts in SEK M | 2014 | 2013 |
| Equity at beginning of period | 691,9 | 7 03,5 |
| Result for the period | -55,5 | 4,2 |
| Other comprehensiv e income for the period | 22,8 | 11,1 |
| Net comprehensive income for the period | -32,7 | 15,3 |
| Share issue | 0,3 | 0,8 |
| Repurchase of own shares | -0,3 | -0,8 |
| Dividend | - | -27 ,5 |
| Share based pay ments, equity settled | 0,5 | 0,6 |
| Total transactions with owners of the Group | 0,5 | -26,9 |
| Equity at end of period | 659,7 | 691,9 |
| Attributable to: | ||
| - Owners of the Parent Company | 659,7 | 691 ,9 |
| Q 4 | Q 4 | Full y ear | Full y ear | |
|---|---|---|---|---|
| Amounts in SEK M | 2014 | 2013 | 2014 | 2013 |
| Profit before tax | -4,4 | -4,0 | -53,2 | 7 ,7 |
| Adjustment for non-cash items | 7 ,9 | 4,6 | 54,7 | 13,5 |
| whereof depreciations and amortizations | 3,8 | 3,6 | 15,5 | 11 ,7 |
| Paid income tax | -0,7 | -1,1 | -3,9 | 0,1 |
| Change in working capital | 54,0 | 53,0 | 16,0 | 35,2 |
| Cash flow from operating activities | 56,8 | 52,5 | 13,6 | 56,5 |
| Cash flow from investing activities | -3,6 | -3,5 | -11,6 | -26,1 |
| Cash flow from financing activities | -17,8 | -26,7 | - | -27 ,5 |
| Cash flow for the period | 35,4 | 22,3 | 2,0 | 2,9 |
| Cash and cash equivalents at beginning of period | 15,7 | 25,9 | 48,9 | 45,7 |
| Exchange-rate difference in cash and cash equiv alents | 1,9 | 0,7 | 2,1 | 0,3 |
| Cash and cash equivalents at end of period | 53,0 | 48,9 | 53,0 | 48,9 |
| Unutilised bank ov erdraft facilities | 50,0 | 50,0 | 50,0 | 50,0 |
| Disposable funds at end of period | 103,0 | 98,9 | 103,0 | 98,9 |
| Q 4 | Q 3 | Q 2 | Q 1 | Q 4 | |
|---|---|---|---|---|---|
| Amounts in SEK M | 2014 | 2014 | 2014 | 2014 | 2013 |
| Order intake | 115 | 166 | 127 | 133 | 11 4 |
| Order intake - rolling 4 quarters | 541 | 540 | 487 | 51 3 | 523 |
| Net sales | 17 3,2 | 158,3 | 147 ,9 | 103,6 | 151,9 |
| Net sales - rolling 4 quarters | 583,0 | 561,7 | 555,0 | 535,0 | 524,6 |
| Operating profit1) | 7 ,2 | 15,2 | 2,7 | -9,2 | 2,1 |
| Operating profit1) - rolling 4 quarters | 15,9 | 1 0,8 | 2,5 | 8,9 | 14,3 |
| Profit for the period1) | 7 ,0 | 14,5 | 2,0 | -10,0 | 1,6 |
| Cash flow from operating activities | 56,8 | -34,8 | -37 ,7 | 32,1 | 52,5 |
| Cash flow from op.activ ities - rolling 4 quarters | 13,6 | 9,3 | 26,7 | 51,5 | 56,5 |
| Number of employees, end of period | 83 | 7 8 | 7 8 | 7 6 | 7 7 |
| Equity ratio | 81 % | 80% | 81 % | 86% | 86% |
1 ) Excluding non-recurring costs of SEK 1 2.1 M in Q4 201 4, SEK 4.1 M in Q3 201 4, SEK 52.8 M in Q2 201 4, and SEK 6.5 M in Q4 201 3 .
| Full y ear | Full y ear | |
|---|---|---|
| Amounts in SEK M | 2014 | 2013 |
| Net sales | 465,8 | 433,3 |
| Cost of goods sold1, 5) | -444,9 | -384,3 |
| Gross profit1) | 20,9 | 49,0 |
| Selling and administrativ e expenses3) | -46,7 | -41 ,8 |
| Research and dev elopment costs2, 5) | -36,7 | -15,2 |
| Operating profit4) | -62,5 | -8,0 |
| Income and expenses from financial items | -0,4 | 0,0 |
| Profit before tax4) | -62,9 | -8,0 |
| Income tax | 1,2 | 0,5 |
| Profit for the period4) | -61,7 | -7 ,5 |
| Full y ear | Full y ear | |
|---|---|---|
| Amounts in SEK M | 2014 | 2013 |
| Profit for the period | -61,7 | -7 ,5 |
| Comprehensive income for the period | ||
| Items that have or may be accounted for in the profit for the period | ||
| Translation differences | 5,3 | 3,0 |
| Cash flow hedges, net | 0,2 | -0,4 |
| Tax relating to items in other comprehensive income | -1,2 | -0,6 |
| Comprehensive incom e for the period | 4,3 | 2,0 |
| Net comprehensive incom e for the period | -57 ,4 | -5,5 |
1) Including non-recurring costs of SEK 37 .5 (6.5) M for the full y ear 201 4
2) Including non-recurring costs of SEK 16.4 (0) M for the full year 2014
3) Including non-recurring costs of SEK 8.2 (0) M for the full year 2014
4) Including non-recurring costs of SEK 62.1 (6.5) M for the full year 2014
5) Amortization of capitalized development costs have been reclassified from research and
development costs to the cost of goods sold. The effect of this is SEK 2.8 (2.9) million for Q4 2014 and SEK 11 .2 (9.1 ) million for the full year 2014
| Amounts in SEK M | 2014-12-31 | 2013-12-31 |
|---|---|---|
| Intangible fixed assets | 20,8 | 40,4 |
| Tangible fixed assets | 7 ,3 | 6,0 |
| Financial fixed assets | 386,9 | 37 9,1 |
| T otal fixed assets | 415,0 | 425,5 |
| Inv entories | 125,1 | 120,1 |
| Current receiv ables | 97 ,2 | 134,3 |
| Cash and cash equiv alents | 44,5 | 37 ,5 |
| T otal current assets | 266,8 | 291,9 |
| T OT AL ASSET S | 681,8 | 7 17 ,4 |
| Shareholders' equity | 552,7 | 609,6 |
| T otal equity | 552,7 | 609,6 |
| Prov isions | 30,9 | 11,1 |
| Long-term liabilities | 0,1 | 0,1 |
| Current liabilities | 98,1 | 96,6 |
| T otal liabilities | 129,1 | 107 ,8 |
| T OT AL EQUIT Y AND LIABILIT IES | 681,8 | 7 17 ,4 |
| Pledged assets | 59,6 | 59,6 |
| Contingent liabilities | - | - |
| Full year | Full y ear | |
|---|---|---|
| Amounts in SEK M | 2014 | 2013 |
| Equity at beginning of period | 609,6 | 642,2 |
| Net comprehensiv e income for the period | -57 ,4 | -5,5 |
| Share issue | 0,3 | 0,8 |
| Repurchase of own shares | -0,3 | -0,8 |
| Div idend | - | -27 ,5 |
| Share based payments, equity settled | 0,5 | 0,4 |
| Equity at end of period | 552,7 | 609,6 |
Pricer provides the retail industry's leading electronic display and Electronic Shelf Label (ESL) platform, solutions, and services for intelligently communicating, managing, and optimizing price and product information on the retail floor. The platform is based on a two-way communication protocol to ensure a complete traceability and effective management of resources. The Pricer system significantly improves consumer benefit and store productivity by simplifying work in the store.
Pricer, founded in 1991 in Uppsala, Sweden, offers the most complete and scalable ESL solution. Pricer has installations in over 50 countries with the largest ESL world market share. Customers include many of the world's top retailers and some of the foremost retail chains in Europe, Japan and the USA. Pricer, in co-operation with qualified partners, offers a totally integrated solution together with supplementary products, applications and services.
Pricer AB (publ.) is quoted on the Nasdaq OMX Stockholm, Small Cap list. For further information, please visit www.pricer.com
Sweden
Pricer AB Website: www.pricer.com Box 215 Telephone: +46 8 505 582 00 SE-101 24 Stockholm Corporate Identity number: 556427-7993
Visiting adress: Västra Järnvägsgatan 7 SE-111 64 Stockholm Sweden
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