Luceco (LUCE) Q2 2026 TU earnings summary

Executive summary

• H1 2026 revenue rose to £143m, up 13% year-over-year, with Q2 growth accelerating to 15% compared to 11% in Q1.

• Energy Transition segment, including EV charging and Demand Flexibility, saw revenue growth of approximately 120% year-over-year.

• Core products contributed around 6% revenue growth, supporting overall performance.

• Adjusted Operating Profit increased to £15.8m, up 14% year-over-year, with margin slightly improving to 11.1%.

Financial highlights

• Revenue for H1 2026: £143m (H1 2025: £126m), up 13% year-over-year.

• Adjusted Operating Profit: £15.8m (H1 2025: £13.8m), up 14% year-over-year.

• Adjusted Operating Profit margin: 11.1% (H1 2025: 11.0%).

Outlook and guidance

• FY26 Adjusted Operating Profit expected to exceed £40m.

• FY27 Adjusted Operating Profit expected ahead of current market consensus (£42.3m, range £41.7m–£42.9m).

• Demand Flexibility changes expected to reduce recurring revenue per EV charger to a sustainable level in H2, in line with expectations.