Quarterly Report • Aug 24, 2011
Quarterly Report
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Our order entry and net sales continue to grow. Thereby the growth rate from last year continues. It is encouraging that the composition of the orders is not a few large orders but we see a good spread in both size and geography. We have today customers on all continents and we have won important contracts in America, Asia and Europe. The increased number of signed pilot orders gives an indication of continued growth. The gross margin – being the best since the second quarter of 2010 – has strengthened. The result is slightly reduced by non-recurring expenses and currency effects. In all, we expect generate higher net sales and profit for the full year 2011 as compared to 2010.
During the quarter continued efforts have been spent in sales and marketing leading to clear results. At the same time also a larger number of pilot orders have been won which is usually a good indication of future deals.
Europe continues to be the most important region for Pricer. During the quarter deliveries have taken place to several of Pricer's larger customers. France is the largest single market for Pricer and the company has strengthened its position there. The relation to the retail chain Carrefour is developing in a positive manner. An upgrading of installed system for electronic shelf labels – ESL-systems in the hypermarkets is ongoing in parallel to sales to other retail formats.
Castorama, a leading do-it-yourself retail chain in France, continued its program to equip all stores with Pricers solution.
Cora, a retailer in France, started implementing Pricer's solution in its French stores in 2010. During the quarter Cora has also ordered ESL-system to six of its hypermarkets in Belgium.
In the Nordic market the agreement with Coop Nordic, signed in January 2011, is beginning to generate results. Deliveries are ongoing and discussions are underway with several Coop retailers mainly in Sweden and Norway. Increased deliveries are also noted to other customers in the market.
Development is also positive in southern Europe with emphasize in Italy with an increased number of customers and increased volumes.
Deliveries to South Africa continue and the interest for ESLsystems in the Middle East has increased even if volumes are still limited.
A North American retail chain with over 250 food stores continues its large installation of ESL-systems. Installation is ongoing in about 40 stores in 2011. An increased interest in the market is noted and has led to a number of pilots and smaller installations.
In Latin America efforts in sales and marketing have led to a positive development. Soriana, a large supermarket chain in Mexico, is installing Pricer systems across the country. This has created an increased interest also among other retail chains in this market.
Pricer reached an agreement with its longstanding Japanese partner, Ishida as the license agreement from 2007 was revised. The agreement includes that Ishida has placed orders for ESL equipment, valued at SEK 40 M, to be delivered in 2011 – 2012.
Order entry in the second quarter amounted to SEK 151 M (82), more than almost twice that of last year. Excluding negative currency effect the increase was 102 percent. The Swedish krona has strengthened as compared to Pricer's main trading currencies, the euro and US dollar. The order backlog amounted to about SEK 200 M (78) at the end of June.
Net sales amounted to SEK 143.9 M (109.5) during the quarter - an increase of 31 percent as compared to the second quarter of 2010. Excluding negative currency effect the increase was 41 percent.
Gross profit amounted to SEK 49.8 M (42.2) and the gross margin to 35 percent (39) for the quarter. The gross profit in the quarter has been slightly affected by realised and unrealised currency hedging effects of SEK -1.2 M (6.1). Gross margin was 36 percent before this impact. The gross margin was not as high as in the second quarter of 2010, when it was affected by positive currency effects.
Operating expenses amounted to SEK 33.3 M (26.5) during the quarter due to among other things increased market activities.
Operating profit was SEK 16.5 M (15.7) during the quarter leading to an operating margin of11.5 percent(14.3).
Net financial items were SEK 1.2 M (1.5) for the quarter and consisted mainly of positive currency revaluations of loan assets and cash positions. The tax charge in the quarter is related to the French subsidiary where tax loss carry forwards are exhausted.
Net profit amounted to SEK 16.3 M (17.9)for the quarter.Translation differences in other comprehensive income consisted of positive currency revaluation of net assets in foreign subsidiaries in euro, notably goodwill.
Order entry in the first half year amounted to SEK 367 M (182), more than twice that of last year. Excluding negative currency effect the increase was 122 percent. The Swedish krona has strengthened as compared to Pricer's main trading currencies, the euro and US dollar.
Net sales amounted to SEK 255.0 M (179.2) during the half year - an increase of 42 percent as compared to the first half year of 2010. Excluding negative currency effect the increase was 55 percent. Net sales amounted to SEK 523 M (366) on a rolling annual basis, an increase of 43 percent.
Gross profit amounted to SEK 83.4 M (78.3) and the gross margin to 33 percent (44) for the half year. The gross profit during 2011 has been affected negatively by realised and unrealised currency hedging effects of SEK -6.6 M (8.5) during the half year. Gross margin was 35 percent before this impact. The gross margin was not as high as in 2010, when it was affected by a generally favourable mix of products and services and positive currency effects.
Operating expenses amounted to SEK 59.3 M (50.6) during the half year due to among other things increased market activities.
Operating profit was SEK 24.1 M (27.7) during the half year leading to an operating margin of 9.5 percent (15.5).
Net financial items were SEK -2.0 M (-0.6) for the half year and consisted mainly of negative currency revaluations of loan assets and cash positions. The tax charge in the quarter is related to the French subsidiary where tax loss carry forwards are exhausted.
Net profit amounted to SEK 21.2 M (28.3) for the half year. Translation differences in other comprehensive income consisted of positive currency revaluation of net assets in foreign subsidiaries in euro, notably goodwill.
| Q 2 | Q 2 | 6 months | 6 months | |
|---|---|---|---|---|
| 2011 | 2010 | 2011 | 2010 | |
| % change in Orders | 84% | -5% | 101% | 18% |
| whereof currency effect | -18% | -8% | -21% | -11% |
| % change in Orders adjusted for currency effect | 102% | 3% | 122% | 29% |
| % change in Sales | 31% | 41% | 42% | 27% |
| whereof currency effect | -10% | -13% | -13% | -11% |
| % change in Sales adjusted for currency effect | 41% | 54% | 55% | 39% |
Growth would have been higher with currency rates prevailing last year, as both the euro and the dollar were stronger against the krona.
| Q 2 2011 |
Q 2 2010 |
6 monts 2011 |
6 months 2010 |
|
|---|---|---|---|---|
| % Gross Margin | 35% | 39% | 33% | 44% |
| whereof value changes in currency futures | -1% | 6% | -2% | 5% |
| % Adjusted Gross Margin | 36% | 33% | 35% | 39% |
The result in the quarter has been affected slightly negatively by revaluation of currency hedging contracts. The effect was positive in the preceding year.
Cash flow from operating activities amounted to SEK -8.4 M (-14.0). Primarily accounts receivable have increased from increased volume. Credit terms in markets were Pricer is active are generally more extended than for example in the Nordic countries.
Cash flow from operating activities has developed positively and amounted to SEK 21.5 M (-3.2) in the half year. Working capital amounted to SEK 194.0 M (141.6) at the end of the half year, equivalent of an increase of 4 percent from the level of SEK 187.4 M at the beginning of the year. Cash and cash equivalents at June 30, 2011 amounted to SEK 83.4 M (91.8).
In addition to available cash, Pricer has bank facilities in place amounting to SEK 50 M, of which SEK 25 M in the form of bank overdraft.
Pricer completed in May a reversed split of the shares with one new share for ten old. The dividend decided at the Annual General Meeting of SEK 0.20 per share or SEK 21.4 M total was paid in May. An option program to employees from 2007 expired June 30, 2011 and class B shares were issued, representing about 2 percent dilution of the number of shares. Pricer obtained SEK 16.9 M in new funds.
The financial policy of Pricer with regards to extent and accounting of currency hedging is under review. As a consequence the extent of the hedged currency volume is lower than as compared to earlier.
Capital expenditures amounted to SEK 2.1 M (4.1) during the second quarter, and included mainly capitalised development costs of SEK 1.8 M (3.3).
For the half year capital expenditures amounted to SEK 3.4 M (6.7) and included mainly capitalised development costs of SEK 2.9 M (5.1).
The average number of employees in the quarter was 66 (54) and the number of employees at the end of the quarter was 67 (54). Complementing recruitments to strengthen the position of the company on the market has taken place during the quarter and a few additional recruitments are planned for during the year.
| SEK M | Apr - Jun 2011 |
Apr - Jun 2010 |
Jan-Jun 2011 |
Jan-Jun 2010 |
|---|---|---|---|---|
| Net sales | 143.9 | 109.5 | 255.0 | 179.2 |
| Cost of goods sold | -94.1 | -67.3 | -171.6 | -100.9 |
| Gross profit | 49.8 | 42.2 | 83.4 | 78.3 |
| Gross margin, % | 35 | 39 | 33 | 44 |
| Expenses | -33.3 | -26.5 | -59.3 | -50.6 |
| Operating profit | 16.5 | 15.7 | 24.1 | 27.7 |
| Operating margin, % | 11,5 | 14,3 | 9,5 | 15,5 |
| Stated in thousands of shares | Series A | Series B | Total |
|---|---|---|---|
| As of December 31, 2010 | 2 260 | 1 053 257 | 1 055 517 |
| Issue from options to employees | - | 11 510 | 11 510 |
| Conversion from class A to class B | -2 | 2 | 0 |
| Reverse split 10:3 | -2 032 | -958 293 | -960 325 |
| Issue from options to employees | 811 | 811 | |
| As of June 30, 2011 | 226 | 107 287 | 107 513 |
Class A share holds five votes and class B shares one vote
3
The Parent Company's net sales amounted to SEK 216.3 M (158.0) and net profit amounted to SEK 19.8 M (29.8) for the half year. The company had cash and cash equivalents of SEK 62.0 M (77.3) at June 30, 2011.
Pricer's results and financial position are affected by a number of risk factors that should be taken into consideration when assessing the Group and the Parent Company and their future potential. These risks are primarily related to development of the ESL market. Given the customer structure and the large size of the contracts any delay in the installations may have a significant impact on any given quarter. For additional risks reference is made to the annual report.
There have been no significant transactions involving related parties that could have a material impact on the financial position and earnings of the Group or the Parent Company.
This interim report has for the consolidated accounts been issued in accordance with the IAS 34 Interim reporting and relevant regulations in the Swedish Annual Accounts Act. This interim report for the Parent Company has been issued in accordance with the Swedish Annual Accounts Act, chapter 9 and RFR 2. Accounting principles applied for the consolidated and the Parent Company accounts are coherent with the principles in the latest annual report. The new or amended IFRS standards and IFRIC interpretations, which became effective January 1, 2011, have had no material effect on the consolidated financial statements.
As Pricer announced in 2009, the company is party to an arbitration proceeding against ProMargin. An interlocutory award has been passed to the detriment of Pricer and the size of potential damages will be determined in continuing arbitration. The defendant has presented a significant claim. Pricer has not made any provisions in the matter.
Expectations of higher net sales and result in 2011 than in 2010 remain.
The interim report for January – September 2011 will be published on October 31, 2011.
The Board of Directors declares that the undersigned six-month interim report provides a true and fair overview of the Parent Company's and Group's operations, their financial position and performance, and describes material risks and uncertainties facing the Parent Company and other companies in the Group.
Sollentuna, August 24, 2011 Pricer AB
Mikael Bragd Director
Bo Kastensson Director
Bernt Magnusson Director
Peter Larsson Chairman
Fredrik Berglund CEO
(The interim report including the review report from the auditors is a translation of the Swedish original only for convenience)
We have reviewed the interim report of Pricer AB as of June 30, 2011 and the six-month period then ended. The board of directors and the managing director are responsible for the preparation and presentation of this interim report in accordance with IAS 34 and the Annual Accounts Act. Our responsibility is to express a conclusion on this interim report based on our review.
We conducted our review in accordance with the Standard on review engagements (SÖG) 2410 Review of Interim Financial Information Performed by the Independent Auditor of the Entity. A review consists of making inquiries, primarily of persons responsible for financial and accounting matters, and applying analytical and other review procedures. A review has a different focus and is substantially less in scope than an audit conducted in accordance with International Standards on Auditing and other generally accepted auditing practices. The procedures performed in a review do not enable us to obtain assurance that we would become aware of all significant matters that might be identified in an audit. Accordingly, the conclusion expressed on the basis of a review does not give the same level of assurance as a conclusion expressed on the basis of an audit.
Based on our review, nothing has come to our attention that causes us to believe that the interim report is not prepared, in all material respects, for the group in accordance with IAS 34 and the Annual Accounts Act, and for the parent company, in accordance with the Annual Accounts Act.
Stockholm, August 24, 2011 KPMG AB
Åsa Wirén Linder Authorized public accountant Auditor in charge
Tomas Gerhardsson Authorized public accountant
In its capacity as issuer, Pricer AB is releasing the information in this interim report for January – June 2011 in accordance with the Swedish Securities Exchange Act (2007:528). The information was distributed to the media for publication at 08.30 AM CEST on Wednesday August 24, 2011.
For further information, please contact: Fredrik Berglund, CEO or Harald Bauer, CFO, Pricer AB+46 8 505 582 00
| Q 2 | Q 2 | 6 months | 6 months | Full year | |
|---|---|---|---|---|---|
| Amounts in SEK M | 2011 | 2010 | 2011 | 2010 | 2010 |
| Net Sales | 143.9 | 109.5 | 255.0 | 179.2 | 447.2 |
| Cost of goods sold | -94.1 | -67.3 | -171.6 | -100.9 | -283.9 |
| Gross profit | 49.8 | 42.2 | 83.4 | 78.3 | 163.3 |
| Selling and administrative expenses | -27.8 | -22.9 | -48.9 | -43.1 | -86.4 |
| Research and development costs | -5.5 | -3.6 | -10.4 | -7.5 | -16.1 |
| Operating profit | 16.5 | 15.7 | 24.1 | 27.7 | 60.8 |
| Net financial items | 1.2 | 1.5 | -2.0 | -0.6 | -6.3 |
| Profit before tax | 17.7 | 17.2 | 22.1 | 27.1 | 54.5 |
| Income tax | -1.4 | 0.7 | -0.9 | 1.2 | 1.7 |
| Profit for the period | 16.3 | 17.9 | 21.2 | 28.3 | 56.2 |
| OTHER COMPREHENSIVE INCOME | |||||
| Translation differences | 7.2 | -8.4 | 4.9 | -27.8 | -45.6 |
| Net comprehensive income for the period | 23.5 | 9.5 | 26.1 | 0.5 | 10.6 |
| Profit for the period attributable to: | |||||
| Owners of the Parent Company | 16.3 | 17.9 | 21.2 | 28.3 | 56.2 |
| Non-controlling interest | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| Net comprehensive income for the period attributable to: | |||||
| Owners of the Parent Company | 23.5 | 9.5 | 26.1 | 0.5 | 10.6 |
| Non-controlling interest | 0.0 | 0.0 | 0.0 | 0.0 | 0.0 |
| EARNINGS PER SHARE | Q 2 | Q 2 | 6 months | 6 months | Full year |
|---|---|---|---|---|---|
| 2011 | 2010 | 2011 | 2010 | 2010 | |
| Basic earnings per share, SEK | 0.15 | 0.18 | 0.20 | 0.28 | 0.54 |
| Diluted earnings per share, SEK | 0.15 | 0.16 | 0.20 | 0.26 | 0.52 |
| Number of shares, millions | 107 | 102 | 106 | 102 | 104 |
| Diluted number of shares, millions | 108 | 109 | 108 | 109 | 109 |
Historical values are recalculated due to the reverse split of shares in May 2011
| NET SALES BY GEOGRAPHICAL MARKET | Q 2 | Q 2 | 6 months | 6 monts | Full year |
|---|---|---|---|---|---|
| Amounts in SEK M | 2011 | 2010 | 2011 | 2010 | 2010 |
| Europe, Middle East and Africa | 119.4 | 85.9 | 202.0 | 131.7 | 350.8 |
| America | 20.9 | 17.0 | 44.7 | 36.9 | 57.0 |
| Asia & the Pacific | 3.6 | 6.6 | 8.3 | 10.6 | 39.4 |
| Total net sales | 143.9 | 109.5 | 255.0 | 179.2 | 447.2 |
The geographical markets have been changed as of January 1, 2011 and historical values have therefore been recalculated
| Amounts in SEK M | 2011-06-30 | 2010-06-30 | 2010-12-31 |
|---|---|---|---|
| Intangible fixed assets | 248.2 | 262.5 | 249.1 |
| Tangible fixed assets | 2.6 | 2.6 | 2.8 |
| Deferred tax assets | 42.3 | 42.0 | 41.4 |
| Total fixed assets | 293.1 | 307.1 | 293.3 |
| 0.0 | 0.0 | 0.0 | |
| Inventories | 84.7 | 84.0 | 78.0 |
| Current receivables | 254.6 | 173.4 | 200.8 |
| Cash and cash equivalents | 83.4 | 91.8 | 69.9 |
| Total current assets | 422.7 | 349.2 | 348.7 |
| TOTAL ASSETS | 715.8 | 656.3 | 642.0 |
| Shareholders' equity | 568.1 | 536.3 | 546.5 |
| Non-controlling interest | 0.1 | 0.1 | 0.1 |
| Total equity | 568.2 | 536.4 | 546.6 |
| Long-term liabilities | 2.3 | 4.1 | 4.0 |
| Short-term liabilities | 145.3 | 115.8 | 91.4 |
| Total liabilities | 147.6 | 119.9 | 95.4 |
| TOTAL EQUITY AND LIABILITIES | 715.8 | 656.3 | 642.0 |
| Pledged assets | 35.6 | 35.7 | 35.6 |
| Contingent liabilities | 1.0 | 1.0 | 1.0 |
| Basic shareholders' equity per share, SEK | 5.36 | 5.28 | 5.28 |
| Diluted shareholders' equity per share, SEK | 5.27 | 5.28 | 5.02 |
Historical values are recalculated due to the reverse split of shares in May 2011
| 6 months | 6 months | Full year | |
|---|---|---|---|
| Amounts in SEK M | 2011 | 2010 | 2010 |
| Equity at beginning of period | 546.6 | 513.2 | 513.2 |
| Net comprehensive income for the period | 26.1 | 0.5 | 10.6 |
| Share issue in progress | 5.5 | 22.4 | - |
| Share issue | 11.4 | - | 22.4 |
| Dividend | -21.4 | - | - |
| Share based payments, equity settled | 0.1 | 0.2 | 0.4 |
| Equity at end of period | 568.2 | 536.4 | 546.6 |
| Attributable to: | |||
| - Owners of the Parent Company | 568.1 | 536.2 | 546.5 |
| - Non-controlling interest | 0.1 | 0.1 | 0.1 |
| Total | 568.2 | 536.3 | 546.6 |
| Q 2 | Q 2 | 6 months | 6 months | Full year | |
|---|---|---|---|---|---|
| Amounts in SEK M | 2011 | 2010 | 2011 | 2010 | 2010 |
| Profit before tax | 17.7 | 17.2 | 22.1 | 27.1 | 54.5 |
| Adjustment for non-cash items | 7.3 | 1.6 | 5.0 | 2.2 | 27.4 |
| Paid income tax | - | -0.4 | - | -0.4 | -0.4 |
| Change in working capital | -33.4 | -32.4 | -5.6 | -32.1 | -96.8 |
| Cash flow from operating activities | -8.4 | -14.0 | 21.5 | -3.2 | -15.3 |
| Cash flow from investing activities | -2.1 | -4.1 | -3.4 | -6.7 | -12.0 |
| Cash flow from financing activities | -5.9 | - | -4.5 | - | - |
| Cash flow for the period | -16.4 | -18.1 | 13.6 | -9.9 | -27.3 |
| Cash and cash equivalents at beginning of period | 97.5 | 109.1 | 69.9 | 102.8 | 102.8 |
| Exchange-rate difference in cash and cash equivalents | 2.3 | 0.8 | -0.1 | -1.1 | -5.6 |
| Cash and cash equivalents at end of period | 83.4 | 91.8 | 83.4 | 91.8 | 69.9 |
| Unutilised bank overdraft facilities | 25.0 | 25.0 | 25.0 | 25.0 | 25.0 |
| Disposable funds at end of period | 108.4 | 116.8 | 108.4 | 116.8 | 94.9 |
| Q 1 | Q 4 | Q 3 | Q 2 | Q 1 | |
|---|---|---|---|---|---|
| Amounts in SEK M | 2011 | 2010 | 2010 | 2010 | 2010 |
| Order entry | 151.0 | 215.6 | 144.0 | 112.6 | 82.3 |
| Order entry - rolling 4 quarters | 623.3 | 554.5 | 439.0 | 388.9 | 365.7 |
| Net sales | 143.9 | 111.1 | 161.3 | 106.7 | 109.5 |
| Net sales - rolling 4 quarters | 523.0 | 488.6 | 447.2 | 400.0 | 365.7 |
| Operating profit | 16.5 | 7.6 | 26.0 | 7.1 | 15.7 |
| Operating profit - rolling 4 quarters | 57.2 | 56.4 | 60.8 | 54.2 | 49.8 |
| Profit for the period | 16.3 | 4.9 | 25.6 | 2.3 | 17.9 |
| Cash flow from operating activities | -8.4 | 29.9 | 13.3 | -25.4 | -14.0 |
| Cash flow from op.activities - rolling 4 quarters | 9.4 | 3.8 | -15.3 | -17.1 | 24.4 |
| Number of employees, end of period | 66 | 61 | 55 | 53 | 54 |
| Equity ratio | 79% | 82% | 85% | 83% | 82% |
| Q2 2011 |
|---|
| STATEMENT OF INCOME AND STATEMENT OF COMPREHENSIVE INCOME OF PARENT COMPANY IN SUMMARY | ||
|---|---|---|
| INCOME STATEMENT | 6 months | 6 months | Full year |
|---|---|---|---|
| Amounts in SEK M | 2011 | 2010 | 2010 |
| Net sales | 216.3 | 158.0 | 356.4 |
| Cost of goods sold | -165.8 | -105.3 | -262.5 |
| Gross profit | 50.5 | 52.7 | 93.9 |
| Selling and administrative expenses | -21.6 | -15.7 | -33.2 |
| Research and development costs | -9.3 | -6.5 | -14.1 |
| Operating profit | 19.6 | 30.5 | 46.6 |
| Result fron participations in group companies | - | - | -13.3 |
| Net financials items | 0.2 | -0.3 | -5.4 |
| Profit before tax | 19.8 | 30.2 | 27.9 |
| Income tax | 0.0 | -0.4 | -0.4 |
| Result of the period | 19.8 | 29.8 | 27.5 |
| STATEMENT OF COMPREHENSIVE INCOME | 6 months | 6 months | Full year |
|---|---|---|---|
| Amounts in SEK M | 2011 | 2010 | 2010 |
| Result of the period | 19.8 | 29.8 | 27.5 |
| Translation differences | 1.3 | -7.9 | -12.5 |
| Net comprehensive income for the period | 21.1 | 21.9 | 15.0 |
| Amounts in SEK M | 2011-06-30 | 2010-06-30 | 2010-12-31 |
|---|---|---|---|
| Intangible fixed assets | 16.4 | 13.7 | 16.9 |
| Tangible fixed assets | 1.4 | 1.3 | 1.3 |
| Financial fixed assets | 317.4 | 341.5 | 315.8 |
| Total fixed assets | 335.2 | 356.5 | 334.0 |
| Inventories | 52.6 | 49.6 | 52.3 |
| Current receivables | 175.1 | 109.6 | 124.5 |
| Cash and cash equivalents | 62.0 | 77.3 | 49.1 |
| Total current assets | 289.7 | 236.5 | 225.9 |
| TOTAL ASSETS | 624.9 | 593.0 | 559.9 |
| Shareholders' equity | 511.5 | 501.3 | 494.8 |
| Total equity | 511.5 | 501.3 | 494.8 |
| Provisions | 10.7 | 14.4 | 11.2 |
| Long-term liabilities | 0.1 | 0.1 | 0.1 |
| Current liabilities | 102.6 | 77.2 | 53.8 |
| Total liabilities | 113.4 | 91.7 | 65.1 |
| TOTAL EQUITY AND LIABILITIES | 624.9 | 593.0 | 559.9 |
| Pledged assets | 34.8 | 34.8 | 34.8 |
| Contingent liabilities | 0.2 | 0.2 | 0.2 |
| 6 months | 6 months | Full year | |
|---|---|---|---|
| Amounts in SEK M | 2011 | 2010 | 2010 |
| Equity at beginning of period | 494.8 | 456.9 | 456.9 |
| Net comprehensive income for the period | 21.1 | 21.9 | 15.0 |
| Share issue in progress | 5.5 | 22.4 | - |
| Share issue | 11.4 | - | 22.4 |
| Dividend | -21.4 | - | - |
| Share based payments, equity settled | 0.1 | 0.1 | 0.4 |
| Equity at end of period | 511.5 | 501.3 | 494.8 |
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. Pricer is the only company today offering a communication platform that supports both segment based ESL and pixel-based ESL. 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 more than 40 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 Nasdaq OMX Nordic Small Cap. For further information, please visit www.pricer.com
Pricer AB (publ.) Bergkällavägen 20-22 SE-192 79 Sollentuna Sweden
Website: www.pricer.com Telephone: +46 8 505 582 00 Corporate Identity number: 556427-7993
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