The company operates two business segments, Shekel Scales, and the newly created Retail Innovation segment.
Shekel Scales’ weighing technology is used in the retail industry in commercial point-of-sales (POS) equipment such as retail self-checkouts.
It provides these weighing solutions via global giants such as Toshiba, Fujitsu, and Diebold Nixdorf.
The weighing technology is also used in healthcare where Shekel has its own Healthweigh brand.
Notably, Shekel was among the first companies to have its precision weighing systems integrated into incubators and warmers for premature babies.
Shekel Scales a strong core business segment
Shekel Scales is the company’s core division and has historically been the major contributor to group revenues and profits.
Retail Sales continued stable demand with an increase in unit orders from major customers Toshiba and Diebold Nixdorf compared to prior corresponding period.
This is in line with the company’s assumption of continued growth in the self-checkout (SCO) market.
Retail Innovation segment to drive future growth
Shekel has placed strong emphasis on the Retail Innovation segment to capitalise on the global demand for retail store automation, such as “grab and go” technology.
This technology enables brick and mortar retailers to transition with the e-commerce revolution.
The division was established at the time of the company’s IPO in November 2018 with funds raised deployed for R&D to drive future growth.
Supported by industry growth
The global self-checkout systems market is estimated to surpass US$6.5 billion by 2024 from US$3.7 billion in 2018.
The number of self-checkouts worldwide is expected to increase to 468,000 by 2021, up from 240,000 in 2016.
Three of the top four players in the global market are customers of Shekel Brainweigh.
Regarding Retail Innovation, US$3.4 billion was invested in 2018 by retailers on automated customer support to enhance store operations, store automation and customer experience.
Recent Q&A investor webinar
On Friday 13 September 2019, Shekel held an investor webinar, which included a question and answer sessions.
The company recorded the 35-minute webinar for investors to review.