Luceco plc (LSE:LUCE) reported a 17% increase in like-for-like revenue for the third quarter ended 30 September 2026, supported by growth in its Energy Transition business and demand for core electrical products.
The manufacturer of residential and commercial electrification products also reported a 60% year-on-year improvement in adjusted operating profit, reflecting changes in revenue mix and operational efficiencies.
Luceco reaffirmed its full-year profitability expectations, with company-compiled analyst consensus forecasting adjusted operating profit of £41.8 million for FY2026.
Third-Quarter Revenue Increases 17%
Luceco reported like-for-like revenue growth of 17.0% for the three months ended 30 September 2026, compared with the corresponding period in the previous year.
The increase reflected contributions from the company’s Energy Transition activities and its established electrical products business.
For the first nine months of 2026, like-for-like revenue increased 15.0% year on year.
The company said demand for its core product categories remained consistent during the quarter, while its Energy Transition operations contributed a larger proportion of growth.
Management also reported an order book providing visibility over deliveries scheduled for the fourth quarter.
The trading statement did not disclose an absolute revenue figure for Q3 or the nine-month period.
Energy Transition Revenue Rises Approximately 220%
Luceco’s Energy Transition business recorded approximately 220% year-on-year revenue growth during the third quarter.
The division includes electric vehicle charging products and Demand Flexibility activities.
The company reported that Demand Flexibility enrolments exceeded 31,000 at the end of September 2026.
Growth in the division contributed to the group’s overall revenue performance and changes in its sales mix during the period.
Luceco identified both EV charging and Demand Flexibility as contributors to its current trading performance.
The announcement did not provide separate revenue figures for either activity or specify their individual contributions to group profitability.
Core Electrical Products Record 3.4% Revenue Growth
Alongside the increase in Energy Transition revenue, Luceco reported 3.4% year-on-year revenue growth in its core products business during Q3.
The company’s established product portfolio includes wiring accessories, LED lighting and portable power products.
These products are distributed through professional, wholesale and retail channels.
Management reported continued demand across the group’s core product categories and expects the trading trends identified in its September interim results to continue through the remainder of 2026.
The company did not provide individual revenue growth rates for its core product categories.
Adjusted Operating Profit Increases 60%
Luceco reported a 60% year-on-year increase in adjusted operating profit for the third quarter.
The company attributed the improvement to a change in revenue mix and further operational efficiencies.
Revenue growth in Energy Transition and core products contributed to the overall increase in trading activity.
The group did not disclose the absolute value of quarterly adjusted operating profit or provide a detailed breakdown of the contribution from each business area.
Management expects the factors supporting profitability during Q3 to continue influencing performance during the final quarter of the financial year.
Net Debt Rises to £74.6 Million as Leverage Declines
Luceco reported bank net debt of £74.6 million at 30 September 2026, compared with £68.4 million at the corresponding point in 2025.
The £6.2 million increase was described by the company as consistent with the growth in revenue.
Despite the higher absolute debt balance, the group’s bank net debt-to-EBITDA leverage ratio declined to 1.4 times from 1.6 times a year earlier.
The ratio remains within Luceco’s stated target range of 1.0 to 2.0 times.
The company said its balance sheet and cash generation provide capacity for continued investment in organic growth initiatives and potential selective bolt-on acquisitions.
Any acquisitions would be considered under the group’s existing capital allocation policy.
No new acquisition agreements were announced in the trading update.
FY2026 Adjusted Operating Profit Expected to Meet Market Forecasts
Luceco maintained its full-year adjusted operating profit outlook following the third-quarter trading performance.
Company-compiled analyst consensus as of 26 October 2026 indicates expected FY2026 adjusted operating profit of £41.8 million, with individual forecasts ranging from £41.3 million to £42.5 million.
The company said market expectations had increased following the publication of its interim results on 22 September 2026.
Management expects the operating trends reported at the interim stage to continue during the final three months of the year.
The board also referred to its existing fourth-quarter order book as providing visibility over scheduled deliveries.
Luceco expects full-year adjusted operating profit to be in line with the current market consensus.
Chief Executive Comments on Q3 Performance
Dr Thorsten Müller, chief executive officer of Luceco, commented on the company’s quarterly trading performance:
“Luceco delivered a strong third-quarter performance, with revenue growth of approximately 17%, against what was a strong prior-year comparative. This performance demonstrates the strength of our competitive advantages and positioning in attractive market segments, including the significant opportunity afforded within Energy Transition. We remain confident in the outturn for the year.”
The company continues to identify Energy Transition activities, including EV charging and Demand Flexibility, alongside its core electrical products business as contributors to its financial performance.
More About Luceco
Luceco plc (LSE:LUCE) designs and manufactures electrical products and systems for residential and commercial applications.
Its product portfolio includes wiring accessories, electric vehicle chargers, LED lighting and portable power products, distributed through professional, wholesale and retail channels.
The company’s Energy Transition activities include EV charging equipment and associated services, alongside Demand Flexibility operations.
For Q3 2026, Luceco reported 17.0% like-for-like revenue growth, including approximately 220% growth in Energy Transition and 3.4% growth in core products.
Adjusted operating profit increased 60% year on year, while bank net debt stood at £74.6 million and leverage declined to 1.4 times EBITDA.
The group continues to expect FY2026 adjusted operating profit in line with company-compiled analyst consensus of £41.8 million.
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