The Board of Directors of SECO S.p.A. met today and approved the draft of the annual report as well as the consolidated results as of December 31, 2024.
Massimo Mauri, CEO of SECO, commented: “While 2024 presented significant challenges for our sector, I am proud that SECO remained steadfast in fostering relationships with its clients and accelerating its technological leadership. Our strategic focus on high-value-added products & services, including our Clea IoT software suite, enabled us to maintain a best-in-class gross margin profile. We also fine-tuned our operations, improving our working capital and significantly reducing net debt to reinforce our financial strength overall. These actions allowed us to exceed the guidance we had provided investors last summer and position ourselves to capture a substantial portion of the rebound I anticipate for 2025. I am excited about the opportunities ahead, driven by a robust pipeline of new products & design wins and fueled by our unwavering commitment to technological innovation and strategic partnerships. Our focus on edge AI and the new HMI modular vision family positions us to meet the evolving needs of our clients and drive long-term value for our shareholders.”
- FY24 Net sales: €183.5M, -12.5% YoY – exceeding the guidance initially provided to the market - Clea business: €21.3M (12% of Net sales) – a stable contribution YoY
- Adjusted Gross margin: €96.8M (52.7% of Net sales) – consistent with the record level achieved in 2023
- Adjusted EBITDA: €28.2M (15.4% of Net sales) o Adjusted Net income: €1.4M (0.7% of Net sales)
- €15.6M cash generation in 4Q24 – Adjusted Net financial debt as of December 31st to €41.3M