REG - Luceco PLC - Q1 2026 Trading Update

LucecoAnnouncement

Today 07:00

For best results when printing this announcement, please click on link below:
https://newsfile.refinitiv.com/getnewsfile/v1/story?guid=urn:newsml:reuters.com:20260519:nRSS7924Ea&default-theme=true

RNS Number : 7924E  Luceco PLC  19 May 2026

19 May 2026

 

LUCECO PLC

 

Q1 2026 TRADING UPDATE

 

 

 Strong Q1 performance, broad-based growth and sustained Energy Transition
 momentum support upgraded full-year outlook

 2026 Adjusted Operating Profit expectations upgraded

 

Luceco plc ("Luceco" or the "Group"), the leading designer and manufacturer of
residential and commercial electrification products and systems, provides the
following update for the three months ended 31 March 2026 ("Q1 2026" or the
"quarter") ahead of its 2026 Annual General Meeting ("AGM") to be held later
today.

 

Q1 2026 Trading

·    Revenue of c.£68m in the quarter (2025: £61m), representing strong
c.11% year-on-year organic growth and a continuation of the momentum exiting
Q4 2025

·    EV charging continues to be a key contributor, with revenue growth of
c.80% year-on-year

o Demand Flexibility revenues from EV chargers increased significantly during
the quarter, through growth in the Group's eligible base of EV chargers and
continued enrolment of eligible chargers

·    The Group's core products also performed strongly contributing over
6% organic revenue growth year-on-year

·    Luceco is maintaining its disciplined approach to pricing, working
with our customers to pass through higher commodity costs. The direct impact
of disruption linked to the conflict in the Middle East has been immaterial to
date, and the Group remains well placed to manage its operations with
appropriate resilience and contingency measures

 

Balance Sheet

·    Bank net debt at the end of the quarter was c.£66m (2025: c.£71m),
with Bank Net Debt:EBITDA leverage of around 1.4x (2025: 1.7x), comfortably
within the Group's target range of 1-2x

·     The Group's strong balance sheet, improving leverage position and
cash generation provides flexibility to support continued investment in
organic growth initiatives and selective bolt‑on acquisitions, consistent
with its capital allocation policy

 

Outlook

·    The Group continues to see strong demand across the majority of its
product categories, channels and territories, with Q1 growth, including Demand
Flexibility, ahead of management's expectations

·    Momentum in the expansion of the Group's installed base of eligible
EV chargers remains strong, with more than 18,000 chargers now participating
in Demand Flexibility

·    While the Board remains mindful of the broader economic backdrop,
including the impact of the conflict in the Middle East, the strength of Q1
trading and sustained Energy Transition momentum mean expectations for
full-year 2026 Adjusted Operating Profit now exceed £40m, with the potential
for further significant outperformance dependent on Demand Flexibility

 

John Hornby, Chief Executive Officer, said:

"Our first‑quarter performance represents a strong start to the year,
continuing the momentum built through 2025.  Growth of 80% in the EV charging
category, including Demand Flexibility, is a clear highlight and I am
particularly pleased by the strong growth achieved by the Group's core
products.

 

"Our Increasing exposure to the rapidly growing Energy Transition market,
together with positive leading indicators across the business, supports our
confidence in the Group's prospects for 2026 and beyond. Given the sustained
strong momentum delivered to date in 2026, we are upgrading our expectations
for the full year."

 

(1)Company-compiled analyst consensus as at 18 May 2026 for full year 2026 is
for Adjusted Operating Profit of £38.3m, with a range of £37.7m - £39.2m.

 

 Luceco plc                            Contact
 John Hornby, Chief Executive Officer  (Via Sodali & Co)
 Will Hoy, Chief Financial Officer

 Sodali & Co                           Contact
 James White                           078 5543 2699 / 079 3535 1934

 Pete Lambie

 Tilly Abraham

 

 

 

 

Note to Editors

 

Luceco plc (LSE:LUCE) is a leading designer and manufacturer of residential
and commercial electrification products and systems. The Group designs and
manufactures its market-leading range of wiring accessories, EV chargers, LED
lighting, and portable power products at its state-of-the-art manufacturing
facilities, distributing them through professional, wholesale and retail
channels.

 

 

For more information, please visit www.lucecoplc.com
(http://www.lucecoplc.com) .

 

Forward-looking statements

 

This announcement contains forward‑looking statements that are subject to
risk factors associated with, among other things, the economic and business
circumstances occurring from time to time in the countries, sectors and
markets in which the Group operates. It is believed that the expectations
reflected in these statements are reasonable, but they may be affected by a
wide range of variables which could cause actual results to differ materially
from those currently anticipated. No assurances can be given that the
forward‑looking statements in this announcement will be realised.

 

The forward‑looking statements reflect the knowledge and information
available at the date of preparation of this announcement and the Company
undertakes no obligation to update these forward‑looking statements. Nothing
in this announcement should be construed as a profit forecast.

 

This information is provided by RNS, the news service of the London Stock Exchange. RNS is approved by the Financial Conduct Authority to act as a Primary Information Provider in the United Kingdom. Terms and conditions relating to the use and distribution of this information may apply. For further information, please contact
rns@lseg.com (mailto:rns@lseg.com)
 or visit
www.rns.com (http://www.rns.com/)
.

RNS may use your IP address to confirm compliance with the terms and conditions, to analyse how you engage with the information contained in this communication, and to share such analysis on an anonymised basis with others as part of our commercial services. For further information about how RNS and the London Stock Exchange use the personal data you provide us, please see our
Privacy Policy (https://www.lseg.com/privacy-and-cookie-policy)
.   END  TSTAKFBDABKDKPD



            Copyright 2019 Regulatory News Service, all rights reserved