Business
Q1 2026 Trading Update
Luceco PLC reported a strong first quarter for 2026, with revenue reaching approximately £68 million, an 11% year-on-year increase driven by broad-based growth and sustained momentum in the Energy Transition sector. Notably, EV charging revenue surged by 80%, with over 18,000 chargers now participating in Demand Flexibility. Core products also contributed over 6% organic revenue growth. The company has upgraded its full-year 2026 Adjusted Operating Profit expectations to exceed £40 million, surpassing analyst consensus, with potential for further outperformance contingent on Demand Flexibility. Bank net debt stood at approximately £66 million, resulting in a leverage ratio of around 1.4x, well within the target range. Disclaimer*
About this update from Luceco Plc
[{"type":"text","content":"\n\n19 May 2026\n \nLUCECO PLC\n \nQ1 2026 TRADING UPDATE\n \n \n\n\n\n\n \nStrong Q1 performance, broad-based growth and sustained Energy Transition momentum support upgraded full-year outlook\n2026 Adjusted Operating Profit expectations upgraded\n\n\n\n\n \nLuceco 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.\n \nQ1 2026 Trading\n· 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\n· EV charging continues to be a key contributor, with revenue growth of c.80% year-on-year\no 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\n· The Group's core products also performed strongly contributing over 6% organic revenue growth year-on-year\n· 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\n \nBalance Sheet\n· 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\n· 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\n \nOutlook\n· 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\n· Mome...