Q1 2026 Trading Update
Summary by AI BETAClose X
19 May 2026
LUCECO PLC
Q1 2026 TRADING UPDATE
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Strong Q1 performance, broad-based growth and sustained Energy Transition momentum support upgraded full-year outlook 2026 Adjusted Operating Profit expectations upgraded |
Luceco plc ("Luceco" or the "Group"), the leading designer and manufacturer of residential and commercial electrification products and systems, provides the following update for the three months ended 31 March 2026 ("Q1 2026" or the "quarter") ahead of its 2026 Annual General Meeting ("AGM") to be held later today.
Q1 2026 Trading
· Revenue of c.£68m in the quarter (2025: £61m), representing strong c.11% year-on-year organic growth and a continuation of the momentum exiting Q4 2025
· EV charging continues to be a key contributor, with revenue growth of c.80% year-on-year
o Demand Flexibility revenues from EV chargers increased significantly during the quarter, through growth in the Group's eligible base of EV chargers and continued enrolment of eligible chargers
· The Group's core products also performed strongly contributing over 6% organic revenue growth year-on-year
· Luceco is maintaining its disciplined approach to pricing, working with our customers to pass through higher commodity costs. The direct impact of disruption linked to the conflict in the Middle East has been immaterial to date, and the Group remains well placed to manage its operations with appropriate resilience and contingency measures
Balance Sheet
· Bank net debt at the end of the quarter was c.£66m (2025: c.£71m), with Bank Net Debt:EBITDA leverage of around 1.4x (2025: 1.7x), comfortably within the Group's target range of 1-2x
· The Group's strong balance sheet, improving leverage position and cash generation provides flexibility to support continued investment in organic growth initiatives and selective bolt‑on acquisitions, consistent with its capital allocation policy
Outlook
· The Group continues to see strong demand across the majority of its product categories, channels and territories, with Q1 growth, including Demand Flexibility, ahead of management's expectations
· Momentum in the expansion of the Group's installed base of eligible EV chargers remains strong, with more than 18,000 chargers now participating in Demand Flexibility
· While the Board remains mindful of the broader economic backdrop, including the impact of the conflict in the Middle East, the strength of Q1 trading and sustained Energy Transition momentum mean expectations for full-year 2026 Adjusted Operating Profit now exceed £40m, with the potential for further significant outperformance dependent on Demand Flexibility
John Hornby, Chief Executive Officer, said:
"Our first‑quarter performance represents a strong start to the year, continuing the momentum built through 2025. Growth of 80% in the EV charging category, including Demand Flexibility, is a clear highlight and I am particularly pleased by the strong growth achieved by the Group's core products.
"Our Increasing exposure to the rapidly growing Energy Transition market, together with positive leading indicators across the business, supports our confidence in the Group's prospects for 2026 and beyond. Given the sustained strong momentum delivered to date in 2026, we are upgrading our expectations for the full year."
1Company-compiled analyst consensus as at 18 May 2026 for full year 2026 is for Adjusted Operating Profit of £38.3m, with a range of £37.7m - £39.2m.
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Luceco plc |
Contact |
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John Hornby, Chief Executive Officer |
(Via Sodali & Co) |
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Will Hoy, Chief Financial Officer |
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Sodali & Co |
Contact |
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James White Pete Lambie Tilly Abraham |
078 5543 2699 / 079 3535 1934 |
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Note to Editors
Luceco plc (LSE:LUCE) is a leading designer and manufacturer of residential and commercial electrification products and systems. The Group designs and manufactures its market-leading range of wiring accessories, EV chargers, LED lighting, and portable power products at its state-of-the-art manufacturing facilities, distributing them through professional, wholesale and retail channels.
For more information, please visit www.lucecoplc.com.
Forward-looking statements
This announcement contains forward‑looking statements that are subject to risk factors associated with, among other things, the economic and business circumstances occurring from time to time in the countries, sectors and markets in which the Group operates. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a wide range of variables which could cause actual results to differ materially from those currently anticipated. No assurances can be given that the forward‑looking statements in this announcement will be realised.
The forward‑looking statements reflect the knowledge and information available at the date of preparation of this announcement and the Company undertakes no obligation to update these forward‑looking statements. Nothing in this announcement should be construed as a profit forecast.
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