(Alliance News) - Seco Spa announced on Thursday that it closed the first quarter with a net loss attributable to the group of EUR2.0 million, compared to a profit of EUR93,000 in the same period of 2024.
The company reports that adjusted net profit - excluding non-recurring items or items not related to the group's operating performance - fell to EUR2.3 million from EUR2.4 million.
Revenues remained stable at EUR 47.2 million, broadly in line with the previous year. The Edge computing business generated revenues of EUR 41.2 million, up 3.0% compared to the first quarter of 2024, while Clea contributed EUR 5.9 million, equal to 13% of the total, down from EUR 7.3 million in the previous year.
Adjusted EBITDA stood at EUR 9.4 million, down 9.2% compared to EUR 10.4 million in the first quarter of 2024, with a revenue ratio of 20% compared to 22% in the previous year.
Adjusted EBIT amounted to EUR 4.7 million, down 17% compared to EUR 5.7 million in 2024.
Adjusted net financial debt rose to EUR 50.2 million from EUR 41.3 million as of December 31, 2024, mainly due to an increase in trade receivables.
The company confirmed its guidance for the second quarter of 2025 with expected revenues of EUR 50 million and a gross margin of over 50%.
The strategy remains focused on the growth of Clea software solutions and the expansion of artificial intelligence "at the edge," which are considered central to the business plan.
Seco's stock is up 5.8% at EUR1.936 per share.
By Antonio Di Giorgio, Alliance News reporter
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