Slide 1: 2025 Interim Results
2025 Interim Results September 2025 www.lucecoplc.com
Slide 2: Agenda
Agenda Highlights Financial Review Business Review Outlook Q&A Sync Energy “Link” EV Charger Note: ‘Adjusted’ has been used throughout this presentation and is defined in note 1 of the consolidated financial statements 2 Luceco plc 2025 Interim Results Presentation
Slide 3: Highlights
Highlights Adjusted Adjusted Revenue Operating Profit Operating Margin £125.7m £13.8m 11.0% +14.7% +9.5% -0.5ppts vs H1 2024 vs H1 2024 vs H1 2024 Bank Dividend Adjusted EPS Net Debt Ratio 1.6x 1.8p 5.9p +0.5x +5.9% +3.5% vs H1 2024 vs H1 2024 vs H1 2024 3 Luceco plc 2025 Interim Results Presentatio
Slide 4: Continued solid progress in H1
Continued solid progress in H1 – Strong H1 revenue growth of 14.7% driven by acquisitions and EV growth – Particularly strong revenue growth from EV chargers up 93% to £8.3m – Overall organic growth of 2.0%, with 3.6% in the UK versus an expected UK market increase of 1.9% – Stronger Q2 performance
Slide 5: Financial Review
Financial Review Will Hoy CFO
Slide 6: Income statement
Income statement Adjusted £m H1 2025 H1 2024 Change (%) Revenue 125.7 109.6 +14.7% • Revenue of £125.7m: Gross profit 52.8 44.9 +17.6% – Up 15% through both acquisitions and organic growth – Strong growth in EV chargers, up 93% Gross margin % 42.0% 41.0% +1.0ppts – Outperformance to the core UK mark
Slide 7: Revenue: Like-for-like growth +2.0%
Revenue: Like-for-like growth +2.0% Revenue Bridge (£m) 2.2 • Revenue increase of 14.7%: 15.5 – Like-for-like increase of 2.0% LFL – Acquisitions/closures reflect the addition of +2.0% D-Line in February 2024 and CMD in September 125.7 2024 (1.6) • Currency headwind on USD revenue in the period Curr
Slide 8: Adjusted Operating Profit: Increase of +9.5%
Adjusted Operating Profit: Increase of +9.5% Adjusted Operating Profit Bridge (£m) • Acquisitions/closures: 1.5 (0.3) – Increase of c.12% in operating profit due to the acquisition of D-Line in February 2024 and CMD Organic in September 2024 -2.4% – D-Line supply chain integration substantially comp
Slide 9: Improving trends
Improving trends Revenue and Adjusted Operating Profit Bridge (£m) Gross Margin improvement 141 138 41.0% 42.0% 18.0 260ppts 135 132 39.4% 129 126 16.0 123 120 117 114 111 108 105 14.0 102 99 96 93 90 12.0 H1 2023 - 2025 87 84 81 78 10.0 Revenue 75 72 69 66 63 60 57 8.0 Operating Profit 54 51 48 45
Slide 10: Adjusted Free Cash Flow Bridge H1 to H1
Adjusted Free Cash Flow Bridge H1 24 to H1 25 Adjusted Free Cash Flow bridge (£m) 9.4 (1.0) 3.1 (1.6) Capex Interest Tax 10.3 (1.7) 2.1 Working capital H1 2025 EBITDA growth H1 2024 • Adjusted Free Cash Flow of £10.3m in the first half of the year a strong result • As outlined in the FY24 results pr
Slide 11: Free cash and Bank Net Debt
Free cash and Bank Net Debt Working capital management Bank H1 2025 Bank Net Debt (£m) leverage 145 H1 2024 Excluding acquisitions 1.6x 1.6x 141 136 H1 2023 D-Line purchase 68.6 68.0 CMD purchase 83 76 78 1.1x 29.7 29.7 59.2 54.0 39.4 45.7 0.8x 7.8 7.8 7.8 0.6x 31.6 31.1 30.5 Average Inventory Inven
Slide 12: Business Review
Business Review John Hornby CEO
Slide 13: Well positioned to deliver above-market growth
Well positioned to deliver above-market growth Structural opportunities A clear, consistent Established growth from electrification strategy levers Sustainable Grow our presence in competitive higher-growth product advantages Electrification of segments Product residential energy High-quality, low-c
Slide 14: Long-term growth markets
Long-term growth markets Europe residential electrification installations1 (units, m) UK EV charger installations2 (units, m) EV chargers Battery storage 10% CAGR c.2x Solar Heat pumps 24% CAGR 1. “The Road Ahead”, LCP Delta, March 2025 2. Company estimates based on SMMT and industry sources Electri
Slide 15: Vertically integrated manufacturing
Vertically integrated manufacturing Luceco’s Jiaxing production facility Manufacturing locations in China and the UK • Jiaxing, China • Hoddesdon, UK • Rotherham, UK Jiaxing facility • Over 52,000 square metre facility • Over 1,000 employees • Well invested and highly automated • Engineering, toolin
Slide 16: Superior channel access and strong brands
Superior channel access and strong brands Share of Distribution Channel Example customers Luceco brands revenue (2024) network Architects, consultants, Professional contractors, projects developers and end-users 2,500 electrical wholesale and Professional builders’ wholesale merchant branches 1,500
Slide 17: Strong track record of innovation
Strong track record of innovation Sync Energy Link EV charger (launched H2 2025) Innovative two-part EV charger • Slimline externally-mounted socket • Separate power control consumer unit installed internally or externally • Fully retrofittable 17 Luceco plc 2025 Interim Results Presentation
Slide 18: Strong track record of innovation
Strong track record of innovation Sync Energy Flow battery storage system (launched H1 2025) Scalable, modular battery storage • All-in-one stackable design rated for external installation • Hybrid inverter and battery storage Optimise use of solar generation and low-cost grid electricity • Single H
Slide 19: M&A funded by cash-generating core business
M&A funded by cash-generating core business Seeking targets offering synergy Capacity to execute further acquisitions potential and opportunities in energy on a meaningful scale transition Capacity to deploy c. £100m by 2030 Energy transition targets are attractive • Long term structural growth • Le
Slide 20: Outlook
Outlook John Hornby CEO LUCECO ate
Slide 21: Outlook
Outlook • The Group remains firmly on track to deliver full year expectations with a strong order book entering H2 • Encouraging acceleration of revenue from quarter one to quarter two with quarter one like-for-like growth of 0.6% and quarter two like-for-like growth accelerating to 3.2% • Very Limi
Slide 22: Q&A
Q&A John Hornby CEO Will Hoy CFO
Slide 23: Appendix
as Append LUCECO ate
Slide 24: Group Overview
Group Overview Our purpose 3 reasons to invest in us Our strategy Our culture To help people harness power 01 We operate in Innovate Customer-driven attractive markets sustainably in everyday life Grow Team-focused 02 We have an advantaged business model Sustain Bold and innovative What we sell 03 W
Slide 25: What we sell (FY 24)
What we sell (FY 24) Wiring Accessories LED Lighting Portable Power 45% 32% 23% Our brands: Our brands: Our brands: Revenue: Revenue: Revenue: £108.9m £78.4m £55.2m Operating Operating Operating Margin: 17.5% Margin: 5.2% Margin: 10.5% Revenue Revenue Revenue 5-yr Organic CAGR: 3.9% 5-yr Organic CAG
Slide 26: Our brands: BG Electrical
Our brands Wiring Accessories – BG Electrical Established 1941 Switches and sockets, Circuit protection, Weatherproof, Junction Product Categories boxes, Cable management 26 Luceco plc 2025 Interim Results Presentation
Slide 27: Our brands: D-Line
Our brands Wiring Accessories – D-Line Established 2004 Decorative cable trunking and accessories, Fire-rated cable Product Categories supports, Floor cable protector, Cable organisers 27 Luceco plc 2025 Interim Results Presentation
Slide 28: Our brands: CMD
Our brands Wiring Accessories – CMD Established 1984 Under-floor and Under-desk power Product Categories distribution solutions, On-desk and In-desk sockets, Ergonomic monitor support arms 28 Luceco plc 2025 Interim Results Presentation
Slide 29: Our brands: Luceco Lighting
Our brands LED Lighting – Luceco Lighting Established 2013 Residential interior, Residential exterior, Commercial interior, Product Categories Commercial exterior, Work & site lighting 29 Luceco plc 2025 Interim Results Presentation
Slide 30: Our brands: Kingfisher Lighting
Our brands LED Lighting – Kingfisher Lighting Established 1988 Product Categories Private realm exterior lighting 30 Luceco plc 2025 Interim Results Presentation
Slide 31: Our brands: DW Windsor
Our brands LED Lighting – DW Windsor Established 1975 Product Categories Private realm exterior lighting 31 Luceco plc 2025 Interim Results Presentation
Slide 32: Our brands: Masterplug
Our brands Portable Power – Masterplug Established 1988 Product Categories Extension leads, Cable reels, Adaptors and accessories, EV Chargers 32 Luceco plc 2025 Interim Results Presentation
Slide 33: Our brands: Sync Energy
Our brands Portable Power – Sync Energy Established 2021 Residential and commercial EV chargers, EV charging cables, Home Product Categories Energy Management systems 33 Luceco plc 2025 Interim Results Presentation
Slide 34: Who we sell to
Who we sell to Product segmental sales by sales channel (as % of total) – FY 24 1% 6% 24% 25% 36% Professional Projects 69% 19% Professional Wholesale 25% Hybrid Retail 30% 20% 10% 56% 8% 30% 28% 13% Wiring LED Portable Total Accessories Lighting Power 34 Luceco plc 2025 Interim Results Presentation
Slide 35: Group history
Group history The group has developed through business combinations and organic expansion into new products and territories Management Luceco LED Jiaxing expanded British General buyout of Management Jiaxing projects to 52,500m2 wiring BG and buyout backed facility sales team Acquisition accessories
Slide 36: Capital allocation policy
Capital allocation policy 1. Dividends 2. Capex 40-60% payout 2-4% of annual revenue Progressive Product development Manufacturing capacity <3-year payback Conservative leverage 1.0x – 2.0x Progressive policy drives growth Adjusted EBITDA • Leverage target of 1.0-2.0x gives ample bank 4. M&A 3. Buyb
Slide 37: Five year revenue progression
Five year revenue progression Revenue by operating segment £m 2020 2021 2022 2023 2024 Wiring Accessories 81.3 104.5 73.7 82.6 108.9 LED Lighting 49.5 63.2 81.4 79.0 78.4 Portable Power 45.4 60.5 51.2 47.4 55.2 Total Group 176.2 228.2 206.3 209.0 242.5 Revenue by geographical location of customer £m
Slide 38: Ten year financials
Ten year financials Adjusted metrics Income Statement £m 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Revenue 103.1 133.7 167.6 163.9 172.1 176.2 228.2 206.3 209.0 242.5 Growth % 25.3% 29.7% 25.4% (2.2%) 5.0% 2.4% 29.5% (9.6)% 1.3% 16.0% Gross Profit 33.8 40.5 48.4 50.6 62.3 70.2 84.7 74.3 82.3
Slide 39: Ten year financials
Ten year financials Adjusted metrics Cash flow statement £m 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Operating Profit 11.5 14.5 14.7 8.5 18.0 30.0 39.0 22.0 24.0 29.0 Depreciation & amortisation 2.6 3.2 4.4 6.5 7.9 6.1 6.7 7.1 7.4 7.9 EBITDA 14.1 17.7 19.1 15.0 25.9 36.1 45.7 29.1 31.4 36.9
Slide 40: Ten year financials
Ten year financials Adjusted metrics Balance Sheet £m 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 Non-current assets 27.5 33.5 47.2 44.8 42.6 43.9 69.4 70.5 72.9 102.2 Inventory 26.2 35.4 44.2 32.8 32.2 37.2 56.6 47.5 40.8 53.8 Trade receivables 20.4 26.5 33.4 39.5 42.8 70.1 67.9 50.4 53.2 76.
Slide 41: Disclaimer
Disclaimer This presentation and information communicated verbally to you may contain certain projections and other forward-looking statements with respect to the financial condition, results of operations, businesses and prospects of Luceco plc. These statements are based on current expectations an