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, and strong EBITDA, with guidance reaffirmed for year-end. New product launches, expanded production capacity, and robust order intake support a positive outlook, despite weakness in Germany and ongoing supply chain vigilance.
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H1 2025 saw 3% revenue growth to €98.4M, with gross margin at 53.4% and adjusted EBITDA margin at 20.5%. Software and recurring revenues rose, and new product launches and design wins support a strong outlook. Full-year revenue is expected to exceed €200M, with margin stability and growth acceleration in H2.
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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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Sales fell 13% to EUR 183.5 million, but gross margin stayed above 50% and adjusted EBITDA outperformed expectations. Recurring revenue from Clea and major new contracts support a double-digit growth outlook for 2025, with strong cash generation and improved leverage.
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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 amid weak demand, but gross margin rose to 52.7% and software sales grew 17%. Full-year revenue is expected above EUR 100 million, with a rebound and double-digit organic growth targeted for 2025.