Luceco plc (LSE:LUCE) reported a 13.4% increase in revenue to £142.6 million for the first half of 2026, supported by growth in its Energy Transition business and higher sales across its core operations.
Adjusted operating profit increased 14.5% to £15.8 million, while the group recorded a modest improvement in operating margins despite higher commodity costs.
Energy Transition revenue, which includes electric vehicle (EV) charging and demand flexibility products and services, increased 119.5% during the period. Revenue from the core business rose 6.5%.
Following the interim performance, Luceco upgraded its full-year adjusted operating profit expectations and increased its interim dividend by 16.7%.
Revenue Increases 13.4% as Adjusted Operating Profit Reaches £15.8 Million
Luceco reported first-half revenue of £142.6 million, up 13.4% compared with the corresponding period last year.
Adjusted operating profit rose 14.5% to £15.8 million, with operating margins improving slightly.
The company said growth across its Energy Transition activities and core business supported the increase in revenue and earnings.
Higher commodity costs affected the business during the period, although the group recorded a modest improvement in its adjusted operating margin.
Luceco designs and manufactures electrification products for residential and commercial applications, including wiring accessories, LED lighting, EV chargers and portable power solutions.
Energy Transition Revenue Increases 119.5%
Luceco’s Energy Transition business recorded revenue growth of 119.5% during the first half of 2026.
The division includes EV charging products and demand flexibility solutions, forming part of the group’s wider electrification portfolio.
The increase in Energy Transition revenue contributed to the group’s overall sales growth and financial performance.
Revenue from Luceco’s core operations increased 6.5%, providing an additional contribution to the first-half results.
The company continues to develop its Energy Transition activities alongside its established electrical products business, serving customers through professional, wholesale and retail distribution channels.
Leverage Falls to 1.5 Times EBITDA
Luceco reported a reduction in leverage to 1.5 times EBITDA during the period.
The decrease was achieved despite investment in inventory ahead of an anticipated increase in second-half trading activity.
The company continues to allocate capital towards organic investment and potential bolt-on acquisitions.
Management expects the group’s financial position to support these activities while maintaining its existing operations.
The supplied announcement does not provide specific net debt or cash balance figures.
Interim Dividend Increases 16.7%
Luceco increased its interim dividend by 16.7% following the first-half results.
The dividend increase accompanies the group’s higher revenue and adjusted operating profit during the reporting period.
The company has not specified the dividend amount per share in the supplied announcement.
Luceco continues to balance shareholder distributions with investment in its existing operations and potential acquisitions.
Full-Year Adjusted Operating Profit Guidance Raised
Following the first-half performance, Luceco upgraded its expectations for full-year adjusted operating profit.
The revised outlook reflects growth in Energy Transition revenue, higher sales in the core business and management’s expectations for the second half.
The company has invested in inventory in preparation for anticipated trading activity during the remainder of the year.
Luceco has not provided a specific revised full-year adjusted operating profit figure in the supplied announcement.
The group’s outlook remains subject to trading conditions, including commodity costs and demand across its electrification markets.
Board and Management Appointments
Luceco appointed Dr Thorsten Müller as its new chief executive officer during the period.
The company also appointed a new non-executive director as part of changes to its board.
The appointments come as Luceco continues to expand its Energy Transition activities and implement its investment strategy.
The supplied announcement does not identify the new non-executive director or provide further details of the management transition.
Outlook
Luceco expects its financial performance to benefit from continued activity across its Energy Transition and core businesses during the remainder of 2026.
The group has upgraded its full-year adjusted operating profit expectations following first-half revenue growth of 13.4% and a 14.5% increase in adjusted operating profit.
Management anticipates higher trading activity in the second half and has increased inventory in preparation.
The company’s priorities include developing its EV charging and demand flexibility activities, investing in its existing operations and assessing bolt-on acquisition opportunities.
Leave a Reply