Luceco Plc · LSE:LUCE
Luceco — H1 2026 Earnings Presentation
37 slides from Luceco's earnings presentation, Sep 22, 2026
Slide 1: 2026 Interim Results
2026 Interim Results September 2026 www.lucecoplc.com
Slide 2: Agenda
Agenda Highlights Financial and Business Review CEO First Impressions 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 2026 Interim Results Presentation
Slide 3: Highlights
Highlights Adjusted Adjusted Revenue L4L Revenue Operating Profit Operating Margin Growth £142.6m +13.9% £15.8m 11.1% +13.4% +11.9% +14.5% +0.1ppts vs H1 2025 vs H1 2025 vs H1 2025 vs H1 2025 Bank Interim Dividend Adjusted EPS Return on Capital Net Debt Ratio Invested 1.5x 2.1p 6.7p 20.5% -0.1x +16.
Slide 4: Financial and Business Review
Financial and Business Review Will Hoy CFO
Slide 5: H1 revenue and profit growth accelerated, supported by the Energy Transition
H1 revenue and profit growth accelerated, supported by the Energy Transition Adjusted £m H1 2026 H1 2025 Change (%) Revenue 142.6 125.7 +13.4% • Revenue of £142.6m up 13.4% Gross profit 59.8 52.8 +13.3% Energy Transition growth of 119.5% (L4L) Core business growth of 6.5% (L4L) Gross margin % 41.9%
Slide 6: Revenue: Like-for-like growth +13.9%
Revenue: Like-for-like growth +13.9% Revenue Bridge (£m) +0.7% +10.2% +13.4% 0.9 • Revenue increase of 13.4% Currency headwind of 0.5% 12.8 Underlying like-for-like increase of 13.9% +3.0% -0.5% 3.8 142.6 • Revenue by segment highlights (0.6) Significant contribution from Portable Power, with 10.2%
Slide 7: Adjusted Operating Profit: Increase of +14.5%
Adjusted Operating Profit: Increase of +14.5% Adjusting Operating Profit Bridge (£m) • Significant growth in Portable Power +0.7% +14.5% +16.7% 0.1 Energy Transition a key growth area within this segment The segment represents 16.7% of underlying 2.3 growth despite related infrastructure investment
Slide 8: H1 cash outflow reflects working capital investment to support growth
H1 cash outflow reflects working capital investment to support growth Adjusted Free Cash Flow bridge (£m) 2.1 (10.1) 10.3 EBITDA growth (1.1) - (3.3) (2.1) Working capital* 30.4 Capex Interest H1 2025 Tax H1 2026 • Adjusted Free Cash outflow of £2.1m, with working capital outflow with stock build fo
Slide 9: Free cash and Bank Net Debt
Free cash and Bank Net Debt Working capital management H1 2026 Bank Net Debt (£m) H1 2025 Bank 145 145 Excluding acquisitions 1.6x 1.6x 1.5x leverage 141 136 H1 2024 D-Line purchase 69.6 68.6 68.0 H1 2023 CMD purchase 1.2x 83 52.3 71.2 76 78 76 1.1x 29.7 29.7 29.7 59.2 45.7 54.0 39.4 7.8 7.8 7.8 29.
Slide 10: Electrification creates a multi-decade growth opportunity for Luceco
Electrification creates a multi-decade growth opportunity for Luceco GB electricity percent of consumer energy demand1 UK EV charger installations2 (units, m) 82% 74% 3x 58% 13% CAGR 39% 27% 22% 1. “Future Energy Scenarios: Pathways to Net Zero”, NESO, November 2025. Chart shows range of 2. Company
Slide 11: Demand Flexibility turns Luceco's EV charger base into a recurring revenue opportunity
Demand Flexibility turns Luceco’s EV charger base into a recurring revenue opportunity GB peak electricity demand (GW)1 Regulatory framework for Demand Flexibility for distributed assets in place • Changes to Balancing and Settlement Code in November Unabated EV charging 2024 and November 2025 peak
Slide 12: Accelerating growth, improving operating margin
Accelerating growth, improving operating margin c13.0% 12.5% 12.0% 10.7% 11.5% Revenue (£m) Adjusted Operating Profit (£m) c310 Adjusted Operating Margin (%) 271.4 242.5 206.3 209.0 FY 2022 FY 2023 FY 2024 FY 2025 Forecast Consensus1 FY 2026 • Consistent growth in Revenue, Adjusted Operating Profit
Slide 13: First Impressions
First Impressions Dr Thorsten Müller Chief Executive Officer 13 Luceco plc 2026 Interim Results Presentation
Slide 14: A strong platform for future growth
A strong platform for future growth Strong commercial advantages Established portfolio in Established routes to Capable, entrepreneurial Agile manufacturing base attractive markets market team A strong portfolio of Well-established routes to A well-invested, vertically Dedicated and businesses and p
Slide 15: Innovation pipeline supports organic growth across core and energy-adjacent categories
Innovation pipeline supports organic growth across core and energy-adjacent categories Three phase High Power V2G-capable Smart Portable HVAC circuit circuit Luxury switches DC Chargers EV Charger EV Charger protection protection 65W integrated USB Dynamis stadium Hinged trunking Home-office power c
Slide 16: Initial priorities and focus areas
Initial priorities and focus areas Focus Processes Structure Ensure optimum capital Ensure Luceco is set-up in allocation by stringently Establish processes and the best way to pursue focussing on the most technology to serve our growth opportunities, compelling opportunities for customers and partn
Slide 17: Strong demand and Demand Flexibility support upgraded FY26 outlook
Strong demand and Demand Flexibility support upgraded FY26 outlook • The Group continues to experience strong demand across key product categories, channels and territories • Demand Flexibility is delivering a recurring revenue stream. Our success in delivering growth of EV charger sales will also i
Slide 18: Q&A
Q&A Dr Thorsten Müller CEO Will Hoy CFO
Slide 19: Appendix
Appendix LUCE CO ate
Slide 20: Group Overview
Group Overview Sustainable Structural Established Our purpose competitive opportunities from A clear growth strategy advantages electrification levers To help people harness power • High-quality, low-cost, • Grow our presence sustainably in everyday life in higher-growth vertically integrated Adoptio
Slide 21: What we sell
What we sell (FY 25) Wiring Accessories LED Lighting Portable Power 48% 29% 23% Our brands: Our brands: Our brands: Revenue: Revenue: Revenue: £131.4m £79.3m £60.7m Operating Operating Operating Margin: 14.8% Margin: 7.9% Margin: 13.3% Revenue Revenue Revenue 5-yr CAGR: 10.1% 5-yr CAGR: 9.9% 5-yr CA
Slide 22: Our brands: BG Electrical
Our brands Wiring Accessories – BG Electrical Established 1941 Switches and sockets, Circuit protection, Weatherproof, Junction Product Categories boxes, Cable management 22 Luceco plc 2026 Interim Results Presentation
Slide 23: 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 23 Luceco plc 2026 Interim Results Presentation
Slide 24: 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 24 Luceco plc 2026 Interim Results Presentation
Slide 25: 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 25 Luceco plc 2026 Interim Results Presentation
Slide 26: Our brands: Kingfisher Lighting
Our brands LED Lighting – Kingfisher Lighting Established 1988 Product Categories Private realm exterior lighting 26 Luceco plc 2026 Interim Results Presentation
Slide 27: Our brands: DW Windsor
Our brands LED Lighting – DW Windsor Established 1975 Product Categories Private realm exterior lighting 27 Luceco plc 2026 Interim Results Presentation
Slide 28: Our brands: Masterplug
Our brands Portable Power – Masterplug Established 1988 Product Categories Extension leads, Cable reels, Adaptors and accessories, EV Chargers 28 Luceco plc 2026 Interim Results Presentation
Slide 29: 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 29 Luceco plc 2026 Interim Results Presentation
Slide 30: Who we sell to
Who we sell to Product segmental sales by sales channel (as % of total) – FY 25 1% 17% 30% 29% Professional Projects 30% 70% Professional Wholesale 22% 24% Hybrid Retail 26% 20% 9% 47% 9% 27% 27% 12% Wiring LED Portable Total Accessories Lighting Power 30 Luceco plc 2026 Interim Results Presentation
Slide 31: Group history
Group history The group has developed through business combinations and organic expansion into new products and territories Management 12,500m2 Luceco LED Jiaxing expanded British General buyout of manufacturing projects to 52,500m2 wiring BG and facility opened sales team Acquisition accessories me
Slide 32: Capital allocation policy
Capital allocation policy Dividends Capex 40-60% payout 2-4% of annual revenue Progressive Product development Manufacturing capacity Progressive policy drives growth <3-year payback Conservative • Leverage target of 1.0-2.0x gives ample bank headroom leverage • Provides capacity for future growth t
Slide 33: Revenue by segment and geography
Revenue by segment and geography Revenue by operating segment £m 2022 2023 2024 2025 Wiring Accessories 73.7 82.6 108.9 131.4 LED Lighting 81.4 79.0 78.4 79.3 Portable Power 51.2 47.4 55.2 60.7 Total Group 206.3 209.0 242.5 271.4 Revenue by geographical location of customer £m 2022 2023 2024 2025 UK
Slide 34: Ten year financials
Ten year financials Adjusted metrics Income Statement £m 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Revenue 133.7 167.6 163.9 172.1 176.2 228.2 206.3 209.0 242.5 271.4 Growth % 29.7% 25.4% (2.2%) 5.0% 2.4% 29.5% (9.6)% 1.3% 16.0% 11.9% Gross Profit 40.5 48.4 50.6 62.3 70.2 84.7 74.3 82.3 97.2
Slide 35: Ten year financials
Ten year financials Adjusted metrics Cash flow statement £m 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Operating Profit 14.5 14.7 8.5 18.0 30.0 39.0 22.0 24.0 29.0 33.8 Depreciation & amortisation 3.2 4.4 6.5 7.9 6.1 6.7 7.1 7.4 7.9 9.3 EBITDA 17.7 19.1 15.0 25.9 36.1 45.7 29.1 31.4 36.9 43.1
Slide 36: Ten year financials
Ten year financials Adjusted metrics Balance Sheet £m 2016 2017 2018 2019 2020 2021 2022 2023 2024 2025 Non-current assets 33.5 47.2 44.8 42.6 43.9 69.4 70.5 72.9 102.2 100.3 Inventory 35.4 44.2 32.8 32.2 37.2 56.6 47.5 40.8 53.8 61.8 Trade receivables 26.5 33.4 39.5 42.8 70.1 67.9 50.4 53.2 76.4 78
Slide 37: 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