Seco — Earnings Release 2025

Jul 14, 2025

Informazione Regolamentata n. 2358-37-2025	Data/Ora Inizio Diffusione 14 Luglio 2025 06:47:40		Euronext Star Milan
Societa'	:	SECO
Identificativo Informazione Regolamentata	:	207983
Utenza - referente	:	SECON04 - -
Tipologia	:	2.2
Data/Ora Ricezione	:	14 Luglio 2025 06:47:40
Data/Ora Inizio Diffusione	:	14 Luglio 2025 06:47:40
Oggetto	:	Consolidated pre-closing results as of June 30, 2025
Testo del comunicato

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PRESS RELEASE

Consolidated pre-closing results as of June 30, 2025

o Q2 guidance exceeded, beating both expectations of €50M Revenues and Gross margin >50%

• Net sales of c. €51M in 2Q25, +8% vs 1Q25
• Gross margin @ c.54% of Net sales
• o Overall for 1H25, Net sales of c. €98M, +3% vs. 1H24 and Gross margin @ c. 53.5% of Net sales
  • c. €12M from Clea business in 1H25 (12% of Net sales), of which €4.3M recurrent revenues (36% of Clea sales)

Arezzo, July 14, 2025 – SECO S.p.A. ("SECO" or the "Company") releases its consolidated pre-closing results as of June 30, 2025. These are management account figures not subject to audit procedures. The financial data presented may therefore be subject to changes due to the closing of the books and the accounting settlement of the consolidated results of the period, during the approval of the first half Interim Financial Report, scheduled for September 8, 2025.

Massimo Mauri, CEO of SECO, commented:

"We continue to experience a healthy shift in market conditions, with encouraging signs from key indicators such as order intake and book-to-bill ratio, as well as client feedback. We have once again exceeded our guidance this quarter, having now posted high single-digit revenue growth for two consecutive quarters in a row.

As we look ahead, our end-to-end solutions puts us at the core of our clients' strategy, thus accelerating our leadership as a key partner in the adoption of transformative technologies across the industrial sector".

Main SECO's results in the period

In the first half of 2025, Net sales amounted to c. €98M, increasing by c. €2.6M (+3.0%) compared to June 30, 2024 (€95.3M). This trend was linked to the gradual recovery of order levels from customers, with the destocking trend now nearing completion, which has led to a growth in Edge computing revenue (c. €86M) by 4% compared to the previous year. The Clea business generated revenue for c. €12M (12% of revenue in the period), of which €4.3M from recurring revenues (36% of Clea revenues).

Gross margin¹ stood at c.53.5% of revenues in 1H 2025, with an increase compared to the previous year (52.7% of revenue as of June 30, 2024), mainly attributable to a different sales mix.

We also share the recent news that the Harmonized Tariff Schedule of the United States code historically associated with SECO products exported to the U.S. falls under the exemption list defined by the Presidential Action "Clarification of Exceptions Under Executive Order 14257 of April 2, 2025, as Amended," issued on April 11, 2025. As a result, SECO products exported to the United States are currently not subject to the reciprocal tariffs in force,

including the 10% baseline tariff.

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¹ Gross margin: corresponds to the difference between the revenue from sales and the costs for raw materials, consumables and merchandise, net of the change in the amount of inventory occurred during the period.

PRESS RELEASE

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 communication.

SECO

SECO (IOT.MI) is a high-tech company that develops and manufactures cutting-edge solutions for the digitalization of industrial products and processes. SECO's hardware and software offerings enable B2B companies to easily introduce edge computing, Internet of Things, data analytics, and artificial intelligence to their businesses. SECO's technology spans across multiple fields of application, serving more than 450 customers across sectors such as medical, industrial automation, fitness, vending, transportation, and many others. Through live monitoring and smart control of in-the-field devices, SECO solutions contribute to low environmental impact business operations via a more efficient use of resources.

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

Contacts

SECO S.p.A. Clarence Nahan Head of Corporate Development & Investor Relations Tel. +39 0575 26979 investor.relations@seco.com

Numero di Pagine: 4