The Board of Directors of SECO S.p.A. met today and approved the consolidated results for the first quarter ended March 31, 2025.
Massimo Mauri, CEO of SECO, commented:
“We are experiencing a rebound in our business, and this momentum is echoed by all the key indicators we monitor, as well as from direct client feedback. In the first quarter, we beat the guidance we had provided to the market, and this marked a clear inflection in our results, putting the past 18 months of destocking behind us. The team also worked hard to bring in a record number of design wins and fill our pipeline for the coming quarters. Looking ahead, I remain convinced that we are one of the best-positioned companies to capitalize on the growing digitalization in the industrial sector. As the demand for edge computing solutions continues to accelerate, our Clea business is establishing itself as the most relevant software infrastructure to enable AI at the edge. This is pivotal to our strategy and will continue to fuel our top line with high-quality SaaS revenues.”
- 1Q25 Net sales: €47.2M – flat YoY, up 7% QoQ – above guidance
- Clea business: €5.9M (13% of Net sales), of which 38% recurring revenue
- Adjusted Gross margin: €25.1M (53.2% of Net sales) – slightly down from 1Q24 due to an exceptionally strong comparable
- Adjusted EBITDA: €9.4M (20.0% of Net sales) – reflecting a solid QoQ recovery
- Adjusted Net income: €2.3M (4.9% of Net sales)
- Adjusted Net financial debt: €50.2M as of March 31st, vs. €41.3M at year-end 2024
2Q25 Guidance: Revenues expected at €50M with a Gross Profit Margin above 50%, continuing the rebound seen in Q1.