Luceco (LSE:LUCE) reported strong results for 2025, with revenue increasing 11.9% to £271.4 million and adjusted operating profit rising 16.6% to £33.8 million. Growth was driven primarily by expanding demand for energy transition products alongside steady performance in its core wiring accessories and LED lighting businesses.
Sales of electric vehicle charging equipment saw particularly strong momentum, climbing 84.7% to £18.1 million. Profitability also improved, with adjusted operating margins reaching 12.5%. Meanwhile, the company strengthened its financial position as bank net debt declined to £52.3 million, supported by strong cash generation that enabled a 20% increase in the dividend.
The group said the solid performance leaves the balance sheet well positioned to support further organic investment and targeted bolt-on acquisitions.
Trading momentum has continued into early 2026. During the first two months of the year, Luceco recorded double-digit like-for-like revenue growth, supported by robust demand across its product portfolio and geographic markets. Growth has also been aided by increasing revenue from EV chargers participating in demand flexibility programmes.
Reflecting this strong start, the board now expects adjusted operating profit for 2026 to exceed £37 million. Management said the outlook reflects continued margin progression and reinforces the company’s position as a beneficiary of the global shift toward electrification and energy transition technologies, although macroeconomic and geopolitical uncertainties remain.
Luceco’s outlook remains broadly supported by strong revenue growth and improving profitability. However, concerns remain around rising leverage and softer cash flow trends. Technical indicators currently suggest a bearish trend in the share price, while valuation appears broadly fair based on its price-to-earnings ratio and dividend yield. Continued expansion in EV charging and other strategic initiatives provide additional support for the company’s growth prospects.
More about Luceco plc
Luceco plc is a UK-listed designer and manufacturer of electrification products and systems for residential and commercial markets. The company produces wiring accessories, EV charging equipment, LED lighting and portable power solutions at its own manufacturing facilities and distributes primarily through professional, wholesale and retail channels across its core markets.
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