REG - Luceco PLC - H1 2025 Trading Update

LucecoAnnouncement

Tue 07:00

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RNS Number : 9521R  Luceco PLC  22 July 2025

22 July 2025

 

 

 

LUCECO PLC

 

("Luceco" or the "Group")

 

H1 2025 TRADING UPDATE

 

 

 Continued momentum with H1 revenue up 15% and adjusted operating profit up
 10%.

 Solid contribution from growing demand in EV charging products.

 Full year expectations unchanged.

 

Luceco, the leading designer and manufacturer of residential and commercial
electrification products and systems, is pleased to provide the following
update for the six months ended 30 June 2025 ("H1 2025" or the "first half").

 

Continued momentum in H1 2025

 

·    Solid performance in the first half with revenue growth of c.15% to
c.£125m driven by the acquisitions of D-Line and CMD, alongside continued
strong growth in EV charging products.

·    Adjusted operating profit margin of c.11% reflecting a slight
headwind from seasonality.

·    Adjusted operating profit expected to be in the region of £13.5m -
£13.8m, up approximately 10% on the prior year.

·    Significant progress with the integration of the 2024 acquisition of
CMD into the Group's supply chain, providing a strong platform for sustainable
future growth.

 

Robust balance sheet

 

·    Bank Net Debt : EBITDA ratio of c.1.6x, within the targeted range of
1-2x.

·    New £120m revolving credit facility, providing further balance sheet
optionality in line with the Group's stated capital allocation policy.

 

Full year outlook unchanged, underpinned by Luceco's competitive advantages

·   Our already limited direct exposure to US/China tariffs has continued
to reduce, representing only c.£1m of sales in H1.

·   The Group continues to see positive momentum in its consumer and retail
forward demand indicators.

·   Operational efficiency continues to improve at Luceco's key
manufacturing centre.

·    The Board's full year expectations remain unchanged, underpinned by
the strength of Luceco's market position, manufacturing capability and cash
generative business model.

 

Commenting on trading, Chief Executive Officer, John Hornby said:

 

"We are well positioned for another year of encouraging growth and strategic
progress, driven by the breadth of our product range, our established market
position, flexible manufacturing capability and the successful integrations of
the recent acquisitions of D-Line and CMD. Our robust balance sheet, recent
refinancing and good cash generation provide optionality to invest in the
business both organically and through M&A to drive future growth.

 

"While there remains a level of economic uncertainty globally, Luceco's
fundamental competitive advantages of strong product development, superior
channel access, vertically integrated manufacturing and good cash generation,
alongside our increasing exposure to high growth markets such as residential
and commercial energy transition, underpin our confidence in delivering
further progress this financial year and beyond."

 

Half Year Results

 

Luceco expects to publish its half year 2025 results statement on Tuesday, 9
September 2025.

 

 

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

 Sodali & Co                           Contact
 Pete Lambie                           079 3535 1934
 James White

 Tilly Abraham

 

 

For the purposes of MAR and Article 2 of Commission Implementing Regulation
(EU) 2016/1055, this announcement is being made on behalf of Luceco plc by
Will Hoy, Chief Financial Officer.

 

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
(https://protect.checkpoint.com/v2/___http:/www.lucecoplc.com___.bXQtcHJvZC1jcC1ldXcyLTE6bmV4dDE1OmM6bzoxOTNlNDlhMDUwZTAwYWRhZDA4ZTViZjQzYzMyNmM4ODo2OmE4YmU6OTYwMjE1YzE2YzEyY2NkN2UwZWIzYTZmOTk1MWQ1YWE4MDhmYzJjMjk5YWI5MzlmMjM4NjRjZTAxNzlmZWMzMTpwOlQ6Tg)
.

 

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.

 

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