SECO SpA Financial Results H1 2023 | Growth & AI Strategies With IR - Seat11a - Video Insights For European Financial Markets

Excerpt

In this investor relations briefing, Lorenzo Tosi, the new Head of Investor Relations at SECO S.p.A., unpacks the firm’s impressive financials for the first half of 2023.

Financial Uplift
Navigating the financial specifics, he reports a substantial revenue increment of 19%, tallying up to 112 million euros— a notable surge compared to the previous year. The CLEA business segment played a pivotal role, constituting 10% of the net sales and raising revenue of 11 million euros.

Sustained Gross Profit Margin
The dialogue further underscores a rising gross profit margin of 49.6% over six months, reflecting SECO’s tenacity amidst prevailing macroeconomic headwinds such as steep interest rates and inflation. A remarkable stride was witnessed in the second quarter, with the profit margin shooting up to 51.6%, a substantial rise equating to a 500 basis points increment compared to the second quarter of 2022.

Expansion across Territories and Sectors
Lorenzo sheds light on the company’s organic growth in the Edge Computing and CLEA businesses, registering a growth rate of 20% and 12%, respectively. This trajectory is spearheaded by key end markets, including the industrial automation and medical domains, extending its reach across significant regions such as EMEA and the US.

Market Recovery and Strategic Outlook
Detailing the phases of market recovery, characterised by normalisation in raw materials and components prices, he delineates SECO’s robust strategy grounded on three pillars: Edge Computing, the CLEA IoT platform, and the forthcoming Studio X platform empowered by generative AI technology.

Leveraging AI Technology
Focusing on technological progression, Lorenzo reveals plans to harness AI technology to transform industrial sectors, enhancing data analytics and user experiences. The strategy includes launching a refreshed brand and website on the horizon.

Vision for an AI-Enabled Future
Looking forward, he foresees SECO evolving into a technology ally, facilitating its clientele with AI-enabled apparatus, thereby promoting safer, more efficient, and eco-friendly business operations. The strategy involves exploiting latent value through real-time analysis and fine-tuning various business processes.

Closing Remarks
In wrapping up, he envisions SECO transcending its role from a mere supplier to a reliable technology partner.

Chapters

Key takeaways from 2023 YTD
H1 2023 Financial Highlights
Strategy update

Resources

Host

Lorenzo Tosi
Head of Investor Relations | SECO SpA

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