SES-imagotag continues its counter-attack and goes public – 06/29/2023 at 09:55


(AOF) – Biggest rise in the SBF120 index, the SES-imagotag share gained 10.77% to 96.70 euros. In addition to its latest communication refuting “with the greatest firmness each of the allegations made against it” by Gotham City, the company asked its auditors, Deloitte and KPMG, for a certificate on the accounting of sales to BOE in the consolidated financial statements as of December 31, 2022.

They issued a certificate to it indicating that the transactions with BOE for an amount of $53.1 million have been neutralized and are therefore not included in the consolidated revenue of the SES-imagotag group as of December 31, 2022. amounting to 620.9 million euros.

The specialist in digital solutions for physical commerce underlines that “this invalidates the central argument of Gotham City on which the accusation of double-counting of circular income with BOE and of overvaluation of turnover and result in the consolidated financial statements as of December 31, 2022”.

The company also indicated that it had mandated its advisers to alert the Autorité des marchés financiers to the numerous breaches committed by Gotham City to its regulations and to introduce all the procedures useful for the defense of its interests, including to the National Financial Prosecutor’s Office for disseminating false and misleading information.

This counter-attack is accompanied by the announcement that its second quarter of 2023 will set a historic record with consolidated turnover passing the 200 million euro mark for the first time. Overall, the first half of 2023 will also be the company’s best historical half, with consolidated revenue growth of around 30%, in line with the annual guidance.


Growth of the French market in value

According to the Gfk institute, the sector generated sales of 4.8 billion euros in 2021, up 2% compared to 2020. The product families that benefited from the best performance are in particular helmets and accessories as well as televisions. However, while the French consumer electronics market grew in value last year, it fell in terms of volumes (-2% with 51 million units sold). This trend can be explained by a move upmarket in products: Bluetooth speakers are more powerful or even television sets use more innovative technologies. Thus the development of technologies that improve image resolution (Oled, Qled, miniled) and the size of screens have caused an increase of more than 20% in the average price. Consumers are also looking for more sustainable products.


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