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