Seco — Earnings Release 2022

Jan 11, 2023

Informazione Regolamentata n. 2358-5-2023		Data/Ora Ricezione 10 Gennaio 2023 19:32:54	Euronext Star Milan
Societa'	:	SECO
Identificativo Informazione Regolamentata	:	171365
Nome utilizzatore	:	SECON03 - -
Tipologia	:	REGEM; 2.2
Data/Ora Ricezione	:	10 Gennaio 2023 19:32:54
Data/Ora Inizio Diffusione presunta	:	11 Gennaio 2023 07:00:07
Oggetto	:	PRE-CLOSING FY 2022 RESULTS
Testo del comunicato

Vedi allegato.

PRE-CLOSING FY 2022 RESULTS

SECO: NET SALES AT €200M, +78% vs. FY 2021

• In Q4 2022, Net sales at €55M (+22% vs. Q4 2021), best quarterly result in SECO's history
• Organic growth at 43% vs. FY 2021
• Like-for-like¹ growth at 36% vs. FY 2021
• CLEA business contributing for over €18M (9%) to the consolidated Net sales
• For Q1 2023, expected revenue of ca. €55-56M, +30% vs. Q1 2022

¹ On a like-for-like basis, considering the results of the Garz & Fricke Group (now SECO Northern Europe) from January 1, 2021

PRESS RELEASE

Endless ways to the future

Arezzo, January 11, 2023 – SECO S.p.A. ("SECO") has proceeded to elaborate the preliminary consolidated Net sales for the fiscal year ended on December 31, 2022. It needs to be specified that such amounts, being pre-closing data, are subject to possible variations due to the closing of the books and the accounting settlement of the consolidated results of the period.

Net sales amount to €200M at the end of 2022, up by 78% compared to FY 2021 and in line with the official guidance communicated to the market on April 19, 2022. Organic growth is equal to 43%, while like-for-like growth¹ is equal to 36%.

In Q4 2022, SECO continued its growth trend, posting its all-time best quarter in terms of turnover. In particular, Net Sales amounted to €55M in the last three months of the year, up by €10M and with a total growth of 22% compared to the same period of 2021.

This trend is due to a robust expansion observed in high-potential markets such as the EMEA, the APAC and the USA, as well as growth in the CLEA business, which generated revenues equal to over €18M during the year, contributing for 9% to SECO's consolidated revenue.

"Pre-closing Net sales are showing a result that makes me truly satisfied with the work done by all our people in such a challenging environment like today's. I am pleased to see how this growth is distributed across different geographies, and how we have started to take benefits from the integration of the recently acquired companies. The expansion of our IoT-AI solution CLEA is allowing us to implement our evolution towards a Service company model: thanks to our technologies, we are able to provide end-to-end solutions to address customers' digitalization and data analysis needs. Observing the evolution of backlog and order intake in the last months, we can affirm that demand remains solid. Based on these data, we believe we can express sustained growth rates in 2023, already from the first quarter for which we expect Net sales of ca. €55-56M, with an organic growth of 30% compared to the same period of last year.", said Massimo Mauri, CEO of SECO.

§§§

The Manager responsible for preparing the Company's financial reports, Lorenzo Mazzini, declares, pursuant to paragraph 2 of Article 154 bis of the Consolidated Law on Finance (Testo Unico della Finanza), that the accounting information contained in this press release corresponds to the documented results, accounts and bookkeeping records as of the date of this press release.

PRESS RELEASE

SECO

SECO (IOT.MI) develops and manufactures cutting-edge technological solutions, from miniaturized computers to fully customized integrated systems combining hardware and software. SECO also offers Clea, a proprietary end-to-end IoT-AI analytics software suite that allows clients to gather insightful data from their on-field devices in real time. SECO employs almost 900 people worldwide and operates through 5 production plants, 10 R&D hubs and sales offices in 9 countries. SECO serves more than 300 blue-chip customers which are leaders in their respective fields, including Medical, Industrial Automation, Aerospace & Defense, Fitness, Vending and many other sectors. SECO R&D capabilities are further enhanced by long-lasting strategic partnerships with tech giants and collaborations with universities, research centers, and innovative start-ups. Corporate social responsibility is part of the strategy of SECO, that undertakes several actions to reduce its environmental footprint and increase its impact on its people and local communities.

For more information:http://www.seco.com/

Contacts

SECO SpA Marco Parisi Head of Investor Relations Tel. +39 0575 26979 investor.relations@seco.com