Luceco (LUCE) Trading Update summary

Trading performance and demand trends

• Q4 2024 saw accelerated order intake and strong demand, driving organic growth, especially in Residential RMI divisions.

• Residential EV Charger division achieved approximately 50% year-on-year quarterly growth, supported by new product launches.

Financial results and outlook

• Expected 2024 revenue is around £240m, up from £209m in 2023, with adjusted operating profit of £28.5m–£29.0m, exceeding market expectations.

• Adjusted operating margin improved to about 12.0%, up from 11.5% in 2023, driven by product mix, efficiencies, and higher volume.

• Organic growth for the year reached approximately 5% at constant currencies.

Strategic initiatives and integration

• Acquisitions in 2024 are integrating well, with D-Line showing encouraging contributions and cost synergies.

• Early indications from CMD are positive, supporting strategic progress.