- 2019 Q3 Sales at €50.1m (+22%)
- 2019 Q3 Order entries at €93.5m (+97%)
- 9-Month Sales at €171.5m (+40%) and rolling 12 months at €237.2m (+62%)
- 9-Month Orders at €216.8m (+17%) and rolling 12 months at €282.6m (+16%)
- On track to deliver FY Sales Growth of ca.+30%
- Growth acceleration in 2020 in line with VUSION plan
Thierry Gadou, SES-imagotag Group Chairman and CEO commented: “Our Q3 performance confirms that we are firmly on track to achieve our growth forecast for the year. We also noticed a marked acceleration in our order book in the Quarter. We are particularly encouraged by the fact that major retailers now see smart labelling as one of their key investment priorities. When we speak with retailers about their needs, the majority say they regard our VUSION platform as the best solution on offer to deal with their issues regarding performance, ability to interact with customers, and data security. We are receiving similar responses all around the globe hence, as expected, our growth outside Europe is accelerating. Going into the Second Half of the Year we expect Asia and North America to account for around 20% of Sales, more than 40% of new Orders, and likely ca. 25% of FY 2020 sales.
We are now into Q4, typically the busiest quarter of the year. Our objective is to deliver on our organic growth target for the year (c. +30%) and exceed the level of €300M for FY Order Intake. This will put us firmly on the path to achieving our VUSION Plan target of FY Sales of €400M in 2020.”
Sales
Sales in Q3 were €50.1M (+22.2%), reflecting continuing momentum within the business as well as the usual seasonal lower activity in Q3. The increase was broadly based on growth in France and in International sales.
Cumulatively at the Nine-Month stage, Sales were €171.5M, an increase of +40.3%, compared with 9M 2018. This performance puts the Group well on its way to achieving its declared objective of +30% Revenue Growth for FY2019.
On a rolling 12-month basis, Sales were €237.2M (+62.5%), with International representing over 70% of total sales.
Order entries
Orders nearly doubled in Q3 to €93.5M (+97.0%), compared to Q3, 2018. This performance was driven by a strong international momentum.
Cumulative 9 Months order intake stood at €216.8M (+17.0%) while rolling 12 months order intake reached a record €282.6M.
Outlook
OutlookSES-imagotag is seeing growing recognition of the value of its VUSION cloud based IoT platform which is reflected in the strong Order Intake during the Quarter, a leading indicator of future sales. With pressures on its retail customer base continuing to drive the search for store efficiency and shopper connectivity solutions, demand is expected to remain strong.
With 9M Cumulative Sales of €171.5M, compared with FY 2018 Sales of €188M, the Group is well on the way to achieving its objective of ca.+30% growth in Sales for 2019 as a whole. The strong inflow of new Orders is expected to further drive sales in the coming quarters. With the current growth trajectory expected to continue, the Group is targeting €400M of annual sales by 2020 as set out in the VUSION 22 Plan.
