Dear Stakeholders,
2025 was a crucial year for SECO. We have emerged from a complex destocking environment with a new drive, ability to execute and a clear strategic vision. The company has resumed its path of sustainable growth, while continuing its transformation into a complete solution company for Edge AI, a particularly advantageous position in an industry going through comprehensive technological transformation.
The construction of a European sample in Edge AI solutions is a lynchpin of our approach and resonates strongly with our customers. With supply chain control becoming increasingly central to purchasing decisions in Europe and globally, SECO’s roots, our manufacturing presence and the engineering skills developed on the European continent are a key competitive advantage. Large enterprises and Tier 1 OEMs are actively seeking reliable regional partners to reduce geopolitical risk.
The global Edge AI market is expected to grow at double-digit annual rates for the next decade, supported by the progressive digitization of industrial processes, the increasing prevalence of IoT devices, and the growing demand for real-time intelligent processing capabilities directly on devices, with high levels of privacy protection. The manufacturing sector is seeing the fastest growth, with significant reductions in downtime as companies adopt Edge AI.
In 2025, SECO further strengthened its technological advantage. We have consolidated our partnerships with Qualcomm, Intel, NXP, MediaTek, Axelera AI, and Raspberry Pi. Clea OS 2.0, our industrial-grade operating system based on Yocto, accelerates the time-to-market for customers and ensures seamless integration with the cloud. Our Application Hub - which aims to surpass 150 validated AI applications later this year - democratizes solution adoption, enabling advanced applications to be deployed in a matter of weeks rather than months. This ecosystem-based approach helps to create switching costs and strengthen customer loyalty. Furthermore, the emergence of new regulatory standards, such as the Cyber Resilience Act, represents an additional structural factor that promotes the adoption of our solutions by customers.
Operationally, we have demonstrated strategic vision by tapping into opportunities in several areas, including industrial automation, medical devices, smart buildings and intelligent transportation. The new production plant in Arezzo will generate a significant increase in production capacity by the second half of 2026, eliminating potential supply constraints. We have also expanded our capabilities at the Hangzhou plant, and built a state-of-the-art anechoic chamber at our Hamburg site.
SECO stands out today for the clarity of our strategy. We are no longer just a hardware company: we are a solutions-focused enterprise, powered by software, simplifying the adoption by customers of artificial intelligence at an industrial level, accelerating time-to-market and reducing technological risk. Our ecosystem - edge computing, Clea OS and Application Hub - creates a level of differentiation that our competitors do not have at their disposal.
Our new hardware platforms, including the Modular Vision HMI product line, position us with a unique advantage in several key industries such as defense, medical, industrial automation, robotics and drones. At the same time, integrating artificial intelligence into internal processes - through partnerships with companies such as Google and other technology players - will help improve efficiency in engineering, quality, marketing and sales activities. Our CLEA framework is becoming increasingly relevant for customers every day, while the infrastructure investments made in 2025 place us among the most technologically advanced operators in our market.
We are truly at a turning point today. The convergence between the exponential growth of Edge AI, the spread of increasingly accessible software platforms, the strengthening of the SECO ecosystem, and our positioning as a leading European player has created a major value creation opportunity. We are confident in our ability to tap into this opportunity while maintaining disciplined financial management and a constant commitment to innovation and the success of our customers.
We would like to express our sincere gratitude to the customers, partners, and employees whose daily commitment contributes to our success. The trust you place in SECO strengthens our determination to bring our vision to life and create lasting value for our shareholders.
Thank you for your continued trust in SECO,
Daniele Conti e Massimo Mauri
(Chairman and Chief Executive Officer)