In addition to the press release issued by SES-imagotag on June 26, 2023, emphatically refuting the erroneous and deceitful allegations made in the Gotham City Report published on June 22, 2023, the Company asked its external auditors to issue a certificate on the recognition of the sales to BOE in the consolidated revenues at December 31, 2022.
The auditing firms Deloitte and KPMG today provided a certificate to the Company indicating that the transactions with BOE for a total amount of $53.1m were neutralized and are therefore not included in SES-imagotag’s consolidated revenue which totaled €620.9m at December 31, 2022.
This invalidates the central argument on which Gotham City’s report based its accusation of round-trip double-counting between BOE and SES-imagotag, and the over-statement of the revenue and profit in the consolidated accounts at December 31, 2022 (as a reminder, the report stated that “BOE is one of SES’s largest customers, representing 10% of its revenues”).
Legal actions against Gotham City
In view of the seriousness of the allegations made by Gotham City, the Company indicates that it has instructed its advisors to alert the French Autorité des Marchés Financiers to the numerous breaches of regulations committed by Gotham City, and to initiate all procedures necessary to defend its interests, including with the French Parquet National Financier for disseminating false and misleading information.
Record H1 2023[1]
The Company and its employees remain, now more than ever, focused on the execution of the Vusion ’27 plan.
In this regard, as we reach the end of the second quarter 2023, and with the aim of reassuring investors within the context of the attack that seeks to destabilize the company, SES-imagotag is taking the initiative to move up its usual reporting calendar in order to announce that after strong sales growth in the first quarter of 2023, the second quarter 2023 will reach an unprecedented high, with sales that exceed €200m.
Taking the two quarters together, the first half of 2023 will be the best semester in the company’s history, with top-line growth of around +30%, in line with guidance for the year.
[1] Non-audited data
Disclaimer
Certain information included in this press release does not constitute historical data but constitutes forward-looking statements. These forward-looking statements are based on current beliefs, expectations and assumptions, including, without limitation, assumptions regarding the Company’s present and future business strategies and the economic environment in which the Company operates. They involve known and unknown risks, uncertainties and other factors, which may cause actual performance and results to be materially different from those expressed or implied by these forward-looking statements. These risks and uncertainties include those discussed and identified in Chapter 2 “Risk Factors” in the Universal Registration Document approved by the French Financial Markets Authority (AMF) and available on the Company’s website (www.ses-imagotag.com) and the AMF’s website (www.amf-france.org). These forward-looking information and statements are no guarantee of future performance.
Investor Relations contact:
Labrador – Raquel Lizarraga / +33 (0)6 46 71 55 20 / [email protected]
Press contacts
Publicis Consultants
Audrey Malmenayde / +33 6 76 93 11 45 / [email protected]
Louis Silvestre / +33 6 24 31 06 76 / [email protected]
