Italy · Delayed Price · Currency is EUR Seco S.p.A. Earnings Call Transcripts
Fiscal Year 2026
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Q1 2026 saw 3% revenue growth and resilient margins despite memory cost spikes and supply chain delays. Recurring revenue rose 20% year-over-year, now 60% of the mix, with strong order intake supporting a positive H2 outlook.
Fiscal Year 2025
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Delivered strong revenue and margin growth in 2025, with robust cash generation and a record order backlog. Margin pressures from memory costs are expected to ease by Q2 2026, while new contracts and product launches support a positive outlook for continued growth.
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Q3 delivered accelerated revenue growth, record gross margin (55%), and a 22% EBITDA margin, with guidance for EUR 200+ million in revenue reconfirmed. New product launches, strong order intake, and expanded production capacity support continued growth and profitability.
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Net sales grew 3% year-over-year to €98.4 million, with gross margin at 53.4% and EBITDA margin at 20.5%. Full-year revenue is expected to exceed €200 million, driven by strong order intake, innovation, and expanding software revenues.
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Q1 2025 saw revenues and gross margin exceed guidance, with EBITDA margin rebounding above 20%. Software and recurring revenues grew, and order backlog showed a strong recovery. Outlook remains positive, with accelerating growth and robust margins expected.
Fiscal Year 2024
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Revenue fell 13% to €183.5M, but gross margin stayed above 50% and adjusted EBITDA reached €28.2M, outperforming sector peers. Clea software and edge computing drove recurring revenue and margin gains, with double-digit growth and robust margins expected in 2025.
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Revenue for the first nine months fell 14% year-over-year, but gross margin improved and the company is on track to meet its EUR 180 million revenue target. Strategic partnerships with NXP and Raspberry Pi are set to drive CLEA platform adoption and future growth.
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Revenue declined in H1 2024 due to weak demand and inventory corrections, but gross margin improved to 52.7% driven by software growth. Management expects stable performance in H2 and a strong rebound in 2025, targeting 15% organic growth and historical profitability.