SES Imagotag falls after H1 results showing retail challenges ahead

Vusion SA

28/07/2023 10:51

** Shares of French product labelling company SES Imagotag
 SESL.PA  slide over 7% after H1 results showed a retail
industry slowdown, impacting the growth rate of supplementary
products
    ** SES Imagotag posted 380.1 million euros ($416.78 million)
in H1 sales, up 33% on 285 million euros a year earlier
    ** Order entries were also up 34.5% during H1 to 518 million
euros
    ** But it flagged a "challenging environment for global
retail" resulting in slow down or postponing of innovation
projects
    ** Brokerage ODDO-BHF says the value added services (VAS)
mix, comprising of products outside the company's core
electronic shelf labelling (ELS) grew at a smaller pace than ELS
    ** "Slowdown in VAS in H1 could be a source of
disappointment for investors in the short term, although this
does not call into question expectations for 2023" -ODDO-BHF
    ** Overall, shares continue to recover from a 16-month low
of around 69.40 euros ($76.04) in June 

($1 = 0.9120 euros)

 (Pierre John Felcenloben)
 ((pierrejohn.felcenloben@thomsonreuters.com))