Massimo Mauri, CEO of SECO, commented: “Like many of our peers, we have navigated another challenging quarter, yet I remain optimistic about our outlook.
The resilience of our business model has once again supported our gross margins, and we have seen positive cash generation driven by significant improvements in our working capital.
We are actively engaging in technology-led discussions with our long-standing clients while also achieving key design wins in new geographies and sectors.
Our software strategy, through our Clea offering, is gaining traction, as evidenced by our recent strategic partnerships with NXP and Raspberry Pi, as well as increasing adoption among our clients.
As we remain on track to meet this year’s guidance, we observe that our business fundamentals are gradually stabilizing. We are confident that revenue growth will return to historical levels as we move into next year”.
- 9M24 Net sales: €139.4M, -14% YoY
- Clea business: €17.0M (12% of Net sales), +4% YoY
- Gross margin: €72.7M (52% of Net sales), +261 bps YoY
- Adjusted EBITDA: €20.4M (15% of Net sales), -45% YoY
- Adjusted Net income: €1.6M (1% of Net sales), -90% YoY
- €4.0M cash generation in 3Q24, resulting in the reduction of Adjusted Net financial debt
- Quarterly performance in line with FY 2024 guidance, confirming targets for Revenues to exceed €180M, with a 50%+ Gross Profit Margin
