Luceco (LUCE) H1 2026 earnings summary

Executive summary

• Revenue grew 13.4% year-over-year to £142.6m in H1 2026, with all segments contributing and energy transition revenue up 119.5% to £18m.

• Adjusted operating profit rose 14.5% to £15.8m, driven by strong Energy Transition and Portable Power performance.

• Interim dividend increased 16.7% to £0.021/2.1p per share, reflecting confidence in outlook.

• All segments, channels, and geographies delivered growth, with recurring revenue from EV charger demand flexibility accelerating.

• CEO transition and board strengthening occurred in September 2026.

Financial highlights

• Adjusted gross profit reached £59.8m, with gross margin stable at 41.9% despite higher material costs.

• Adjusted profit before tax increased 19.4% to £12.9m; adjusted profit after tax up 11.2% to £9.9m.

• Adjusted earnings per share up 13.6% to 6.7p.

• Adjusted EBITDA increased by £2.1m to £20.4m.

• Adjusted free cash flow was an outflow of £2.1m, impacted by working capital build for H2 trading.

Outlook and guidance

• Full-year adjusted operating profit expected to be ahead of market expectations.

• Strong demand continues across product categories and geographies; recurring revenue from Demand Flexibility and EV chargers is growing.

• Analyst consensus for FY26: revenue £310.7m, adjusted operating profit £40.9m.