Slide 1: 1H 2025 Results Presentation & Business Update
1H 2025 Results Presentation & Business Update Sept ember 8 th , 2025
Slide 2: Disclaimer
Disclaimer This document has been prepared by SECO S.p.A. (“SECO” or the “Company”), for information purposes only, exclusively with the aim of assisting you to understand and assess the activities of SECO. The information contained in this presentation does not purport to be comprehensive and may n
Slide 3: Presenting today
Presenting today Massimo Mauri Lorenzo Mazzini Clarence Nahan Chief Executive Officer Chief Financial Officer Head of Corp. Dev. & IR 3
Slide 4: Key takeaways from the past 6 months
Key takeaways from the past 6 months • 1H25 Net sales – €98.4m, up 3% YoY with 2Q25 above guidance at €51.2m (up 9% QoQ) Strong o Clea revenues – €12m, contributing 12% of our overall top line operating • Gross profit margin – 53.4%, improving YoY and above guidance performance • EBITDA Adj. – €20.1
Slide 5: Detailed 1H 2025 Results
Detailed 1H 2025 Results S=C/4
Slide 6: 1H 2025 financial performance in details
1H 2025 financial performance in details 1H 24 1H 25 Net • Revenues up 3% YoY and 9% QoQ, showing a clear order recovery sales €95.3m €98.4m • Clea revenues growing QoQ to €6.1m in 2Q25, 12% of our overall mix in 1H25 Gross €50.3m €52.5m • Gross margin improvement compared to 1H24 and FY24 margin 52
Slide 7: Net sales - €98.4m
Net sales - €98.4m Edge computing business • €86.4m in 1H25, +3% vs. 1H24 • €12.0m in 1H25 • Sales volume expansion well distributed Edge Clea • Steady contribution in terms of incidence on across geographical areas, with US growth 88% 12% Net sales outperforming the other regions • Recurring portio
Slide 8: Adjusted EBITDA
Adjusted EBITDA Adj. EBITDA bridge (€m) 1 1 (1,4) 2 (1,5) 20,5% (0,8) (0,4) 5,4 16,6% 3,1 20,1 15,8 Adj. EBITDA 1H Δ Net Δ Consumption Δ Operating Δ Costs of services and Δ Payroll Δ Adjustments Adj. EBITDA 1H 2024 sales costs income other operating costs costs 2025 1 Gross margin effect and operati
Slide 9: Adjusted Net financial position
Adjusted Net financial position Adj. Net debt evolution (€m) 1 1 2 3 0,1 8,9 50,2 50,3 41,3 FY 24 Δ NPF 1Q 25 Δ NPF 1H 25 1 1H 2025 2 Net debt Adjustments 3 Leverage • ∆ Net working capital mainly due to increase in trade • Solid financial position receivables (0,1) VAT Leverage (4,5) receivables €9
Slide 10: Business update
Business update S=C/4
Slide 11: 2025 is showing a clear rebound in all KPIs
2025 is showing a clear rebound in all KPIs • Revenues – Strong 2Q at €51.2m, up 9% from Q1 and our best quarter in 2 years Financials • Gross Profit Margin – consistently above 50% and improving year-on-year Performance • Adj. EBITDA Margin – operating leverage confirmed with now a second quarter i
Slide 12: Becoming the reference partner for industrial end-to-end solutions
Becoming the reference partner for industrial end-to-end solutions A fully integrated offering to reduce complexity and speed up AI adoption HMI systems Software framework AI algorithms Unique E2E offering Interest from Silicon vendors Driving AI at the Edge Fast Time-to-Market HMI + Clea platform +
Slide 13: Modular Vision – setting a new HMI standard for edge inference
Modular Vision – setting a new HMI standard for edge inference Modular by design: Entry & Mid-Range, X86 Version, based 5 versions, 1 scalable powered by NXP i.MX on Intel Atom platform 8M Plus and i.MX 93, ensuring maximum with integrated basic OS flexibility for AI acceleration industrial-grade ap
Slide 14: Update on strategic technology partnerships
Update on strategic technology partnerships Collaborating with global leaders to accelerate the adoption of AI at the Edge Clea on NXP platforms starting from EVKs X Elite COM Express design in progress • Dev journeys published with support with high technical engagement from for MPUs and MCUs Qualc
Slide 15: An integrated offering aimed at enabling faster AI adoption
An integrated offering aimed at enabling faster AI adoption Simplify the deployment and management of digital services SECO Application HUB Software framework SECO Developer Center Modular Vision Boards Discover, purchase & deploy ready-to-use Documentation and device monitoring software and AI-algo
Slide 16: KPIs continue to confirm a rebound in clients' demand
KPIs continue to confirm a rebound in clients’ demand Confirmed uptick in both backlog and order intake over the past 18 months Book-to-bill consistently at or above 1 over the first half Strong Incoming Backlog trend Consistent Book-to-Bill performance +14% YoY Jan-Aug JAN DEC JAN JUN JUN APR JUL A
Slide 17: Full-Year guidance
Full-Year guidance On track to achieve €200m+ revenues in 2025 at constant FX Profitable growth with gross profit margin maintained above 50% FY25 Revenue1 €200m+ 56,1 57,3 54,6 Unprecedented market environment driven by OEM destocking 51,0 50,2 51,2 47,7 47,2 48,1 47,2 44,1 44,1 3Q22 4Q22 1Q23 2Q23
Slide 18: We are building a strong revenue growth for 2026
We are building a strong revenue growth for 2026 Already secured design wins from new customers and new projects with existing clients, across key verticals and geographies €24.0m 2026 Total Business Volume By Area By Customer By Vertical Vending Transportation Existing 10% Italy 25% 39% 16% Industr
Slide 19: Selected 2026 Design wins
Selected 2026 Design wins Vertical Customer Region Application ‘26 Business size Mass Production Digital cockpit for electric New APAC e-motorcycles (HMI only) €4.0m 2Q26 Smart power grids New EMEA management €3.7m 1Q26 Water pump controller for New EMEA industrial & wastewater €3.3m 1Q26 management
Slide 20: Q&A
Q&A S=C/4
Slide 21: Appendix
Appendix S=C/4
Slide 22: Empowering Sustainable Business Through Innovation
Empowering Sustainable Business Through Innovation Our Mission: A digital, sustainable, intelligent future Our technologies drive the automation of industrial processes, enhance production efficiency, minimize product waste, and optimize the use of resources and energy - enabling a smarter, more sus
Slide 23: Why invest in SECO?
Why invest in SECO? 1 Top 5 player globally in one of the fastest growing end-market in technology 2 Profitable business model focused on long term sustainable high margin 3 End-to-end technological partner with unrivalled R&D excellence 4 Fully integrated offering, from edge computing to software p
Slide 24: Thank you
Thank you www.seco.com S=C/4