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SECO SpA Financial Results H1 2023 | Growth & AI Strategies with IR

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SECO SpA H1 2023: Key Takeaways

Financial Uplift

In this segment, Lorenzo Tosi discusses the financial uplift in the first half of 2023. Highlighting a substantial revenue increment of 19%, the revenue reached a striking 112 million euros, presenting a considerable surge compared to the preceding year. Notably, the CLEA business segment was integral, contributing 10% to the net sales and generating revenue of 11 million euros.

 

Sustained Gross Profit Margin

Emphasising SECO’s resilient financial performance, the gross profit margin swelled to 49.6% over six months despite the prevailing macroeconomic challenges, such as steep interest rates and inflation. A notable upsurge was observed in the second quarter, with the profit margin elevating to 51.6% — a substantial rise, marking a 500 basis points increment compared to Q2 2022.

 

Expansion across Territories and Sectors

Unveiling insights into the company’s organic growth, Lorenzo elaborates on SECO’s expansion in the Edge Computing and CLEA businesses, which registered 20% and 12% growth rates, respectively. This growth trajectory is propelled by significant end markets, notably industrial automation and medical domains, and extends its influence across pivotal regions, including EMEA and the US.

 

Market Recovery and Strategic Outlook

Detailing SECO’s approach to market recovery, characterised by normalised raw materials and components prices, Lorenzo outlines the firm’s steadfast strategy, anchored on three main pillars: Edge Computing, the CLEA IoT platform, and the imminent Studio X platform, enriched by generative AI technology.

 

Leveraging AI Technology

Delving into technological advancements, Lorenzo unveils plans to employ AI technology to revolutionise industrial sectors, augmenting data analytics and user experiences. The strategy anticipates the launch of a rejuvenated brand and website.

 

Vision for an AI-Enabled Future

Envisioning the path ahead, Lorenzo foresees SECO morphing into a crucial technology ally, equipping its clientele with AI-enabled tools thereby fostering safer, more efficient, and eco-friendly business operations. The forward-thinking strategy entails unlocking latent value through real-time analysis and optimising various business processes.

 

Closing Remarks

Concluding the briefing, Lorenzo envisages SECO transitioning from being simply a supplier to emerging as a reliable technology partner.

 

Chapters
  • Key takeaways from 2023 YTD
  • H1 2023 Financial Highlights
  • Strategy update
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SECO Video Hub
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Lorenzo - SECO SpA Financial Results H1 2023 | Growth & AI Strategies with IR -%sitename%

Lorenzo Tosi
Head of Investor Relations | SECO SpA

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Release Date

September 15, 2023

Duration

07:04

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