SES-imagotag — Earnings Release 2013

Apr 25, 2013

Press release Paris, April 25, 2013

Sales for the 1st quarter of 2013

• Q1 sales stable at €15.9 million
• Strong growth in international activity (+26%)
• High level of orders taken (644 stores)

Store Electronic Systems (NYSE Euronext: SESL, FR0010282822), leader in Electronic Shelf Labeling (ESL) systems for food and non-food retail, today announces its sales for the first quarter of 2013.

Sales (€ millions)	France	International	SES
Q1 2012	11.2	4.7	15.9
Q1 2013	10.0	5.9	15.9
Δ	-10%	+26%	0%

Over the first quarter of 2013, SES recorded sales of €15.9 million, identical to the first quarter of 2012. 175 stores were fitted out over the period. Activity continued to be driven by international sales, which increased by +26% to €5.9 million. In France, where the economic situation remained difficult, SES recorded sales of €10 million, down 10% on the record quarter of Q1 2012 (€11.2 million) but up +20% on the previous quarter. The international sales dynamic intensified, with major contracts signed and an increase in the number of orders taken. SES is confident that it will meet its target of recording higher growth in 2013 than it did in 2012.

Sales upturn in France

The economic situation remained difficult in France over the first quarter, but SES successfully launched a sales offensive to reverse the final quarter of 2012's downward trend. Quarterly sales thus came to €10 million, higher than during the three previous quarters and up +20% on Q4 2012. However, sales were down compared with the first quarter of 2012, which was a record quarter for SES with sales totaling €11.2 million, notably driven by the Monoprix and Jardiland deployments. In France, SES strengthened its positions on a flat and highly-competitive market with a further 96 stores fitted out. Activity generated by the installed base remained stable despite an economic situation that led retailers to reduce their spending.

Buoyant international momentum

Abroad, SES continued to record buoyant growth (+26%) with sales totaling €5.9 million over the quarter. All segments of activity – new installations, maintenance and renewals – were up. Latin America and Asia notably contributed to this result thanks to the sales and marketing efforts undertaken in recent months to develop these markets. Furthermore, the portfolio of sales opportunities has seen significant growth across all the regions targeted by SES within the framework of its Expand program.

Record orders taken

SES has reaffirmed its positive sales dynamic with a substantial increase in orders taken over the 1 st quarter of 2013, notably driven by international activity with the signing of two major contracts:

• In Singapore, the deployment of the NTUC group's FairPrice stores, the first significant deployment of electronic shelf tags in Southeast Asia,
• In Scandinavia, the comprehensive deployment of a leading supermarket chain (2.5 million Gtag+ shelf labels), the world's largest graphic technology deployment to date.

All in all, orders were taken for 644 stores over the quarter, a jump of 254% compared to the same period of 2012.

Assessing the Company's first quarter, Thierry Gadou says: "SES is continuing to pursue its accelerated innovation and globalization policy. Despite a negative economic context on some markets, we again recorded buoyant international growth over the first quarter. In France, sales saw a significant upturn compared to the previous quarter, and the major successes recorded in Northern Europe and Asia in recent months reflect the competitiveness of our offer around the world which we intend to strengthen through further innovation. We are confident that this international momentum will continue over the coming quarters and that we will meet our target of achieving higher growth in 2013 than we did in 2012."

Next press release

Sales for the 1st half of 2013: July 31, 2013 (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.

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 75, falba@newcap.fr