Slide 1: 2025 Full Year Results
2025 Full Year Results March 2026 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 Full Year Results Presentation
Slide 3: Highlights
Highlights Adjusted Adjusted Revenue Operating Profit Operating Margin £271.4m £33.8m 12.5% +11.9% +16.6% +0.5ppts vs 2024 vs 2024 vs 2024 Bank Full Year Dividend Adjusted EPS Net Debt Ratio 1.2x 6.0p 15.0p -0.4x +20.0% +20% vs 2024 vs 2024 vs 2024 3 Luceco plc 2025 Full Year Results Presentation
Slide 4: Highlights
Highlights – Excellent progress in 2025 with strong second half acceleration – Revenue: up 11.9% to £271.4m and like-for-like revenue up 4.6% on the prior year – Second half like-for-like growth of over 6.7%, representing an acceleration over the 2.0% like-for-like revenue growth in the first half –
Slide 5: Financial Review
Financial Review Will Hoy CFO
Slide 6: Income statement
Income statement Adjusted £m 2025 2024 Change (%) Revenue 271.4 242.5 +11.9% • Revenue of £271.4m: Gross profit 113.4 97.2 +16.7% – Up 11.9% through both acquisitions and organic growth – Strong growth in Energy Transition products, up 84.7% Gross margin % 41.8% 40.1% +1.7ppts – Outperformance to th
Slide 7: Revenue: Like-for-like growth +4.6%
Revenue: Like-for-like growth +4.6% Revenue Bridge (£m) 11.1 • Revenue increase of 11.9%: – Like-for-like increase of 4.6% 21.0 LFL – Acquisitions/closures reflect the additions of +4.6% D-Line in February 2024 and CMD in September 271.4 2024 (3.2) Currency Acquisitions/ • Currency headwind on USD r
Slide 8: Adjusted Operating Profit: Increase of +16.6%
Adjusted Operating Profit: Increase of +16.6% Adjusted Operating Profit Bridge (£m) • Acquisitions/closures: 2.2 – Increase of 9.0% in operating profit due to the acquisition of D-Line in February 2024 and CMD in September 2024 2.6 – D-Line supply chain integration substantially Organic 33.8 complet
Slide 9: Improving trends
Improving trends Revenue and Adjusted Operating Profit Bridge (£m) Gross Margin 200 41.8 45.0 197 194 191 188 39.4 40.1 improvement 185 182 179 176 173 40.0 170 33.8 240ppts 167 164 161 158 155 152 35.0 149 146 143 140 29.0 137 134 30.0 131 128 125 122 119 24.0 FY 2023 - 2025 116 113 110 107 104 25.
Slide 10: Adjusted Free Cash Flow Bridge 2024 to 2025
Adjusted Free Cash Flow Bridge 2024 to 2025 Adjusted Free Cash Flow bridge (£m) 21.7 (0.8) (1.9) 1.7 Capex Interest Tax 30.4 6.2 Working capital 3.5 EBITDA growth 2024 2025 • Adjusted Free Cash Flow of £30.4m, reversing the working capital outflow seen in 2024 • Higher interest payments from additio
Slide 11: Free cash and Bank Net Debt
Free cash and Bank Net Debt Working capital management FY 2025 Bank Net Debt (£m) FY 2024 Excluding acquisitions 1.6x 1.6x Bank 132 135 135 leverage FY 2023 D-Line purchase 68.6 68.0 CMD purchase 1.2x 61.8 53.8 77 76 52.3 72 29.7 29.7 40.8 39.4 7.8 7.8 29.7 0.6x 7.8 Average Inventory Inventory (£m)
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 Sustainable Structural opportunities A clear Established growth competitive advantages from energy transition strategy levers High-quality, low-cost, Grow our presence Local vertically integrated in higher-growth generation manufacturing product segment
Slide 14: 2025 product innovation highlights
2025 product innovation highlights Platform Lighting Sierra Solar Updated Pro Flow Battery Link EV Smart dimmer Controls street lighting Charger System Charger £6.3m expenditure on R&D in 2025 96 new product engineers in China supporting a team of 48 in the UK market-facing businesses 14 Luceco plc
Slide 15: 2026 product innovation pipeline highlights
2026 product innovation pipeline highlights DC EV V2G-capable Column EV GridLite HVAC circuit Luxury switches Chargers EV Charger Charger modular switches protection 65W integrated USB Dynamis stadium Hinged trunking Three phase Home-office power charging sports lighting circuit protection 15 Luceco
Slide 16: Long-term structural growth markets
Long-term structural growth markets GB electricity percent of consumer energy demand1 UK EV charger installations2 (units, m) 82% 74% 3x 58% 17% CAGR 39% 27% 22% 1. “Future Energy Scenarios: Pathways to Net Zero”, NESO, November 2025. Chart shows range of 2. Company estimates based on SMMT and indus
Slide 17: Recurring Demand Flexibility revenue opportunity
Recurring Demand Flexibility 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 demand flexibility Other flexibility L
Slide 18: Potential for M&A funded by cash-generative core
Potential for M&A funded by cash-generative core Capacity to execute further Synergy-driven acquisition Preference for energy transition acquisitions on a meaningful scale model targets Selling synergies from leveraging superior channel access Opportunity to compound Balance sheet capacity to deploy
Slide 19: Outlook
Outlook John Hornby CEO LUCECO ate
Slide 20: Outlook
Outlook • The momentum from the end of 2025 has continued through the first quarter of 2026, with like-for-like double-digit revenue growth for the first two months of 2026. This has been driven by strong performances in the majority of our product categories, channels and territories • While the Bo
Slide 21: Q&A
Q&A John Hornby CEO Will Hoy CFO
Slide 22: Appendix
as Append LUCECO ate
Slide 23: 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 Electrification of in higher-growth verticall
Slide 24: What we sell
What we sell 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 Organic CAGR: 10.1% 5-yr Organic CAGR: 9.9%
Slide 25: Our brands: BG Electrical
Our brands Wiring Accessories – BG Electrical Established 1941 Switches and sockets, Circuit protection, Weatherproof, Junction Product Categories boxes, Cable management 25 Luceco plc 2025 Full Year Results Presentation
Slide 26: 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 26 Luceco plc 2025 Full Year Results Presentation
Slide 27: 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 27 Luceco plc 2025 Full Year Results Presentation
Slide 28: 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 28 Luceco plc 2025 Full Year Results Presentation
Slide 29: Our brands: Kingfisher Lighting
Our brands LED Lighting – Kingfisher Lighting Established 1988 Product Categories Private realm exterior lighting 29 Luceco plc 2025 Full Year Results Presentation
Slide 30: Our brands: DW Windsor
Our brands LED Lighting – DW Windsor Established 1975 Product Categories Private realm exterior lighting 30 Luceco plc 2025 Full Year Results Presentation
Slide 31: Our brands: Masterplug
Our brands Portable Power – Masterplug Established 1988 Product Categories Extension leads, Cable reels, Adaptors and accessories, EV Chargers 31 Luceco plc 2025 Full Year Results Presentation
Slide 32: 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 32 Luceco plc 2025 Full Year Results Presentation
Slide 33: 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% Professional Wholesale 70% 22% 24% Hybrid Retail 26% 20% 9% 47% 9% 27% 27% 12% Wiring LED Portable Total Accessories Lighting Power 33 Luceco plc 2025 Full Year Results Presentati
Slide 34: 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 35: Capital allocation policy
Capital allocation policy 1. Dividends 2. 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 gr
Slide 36: Five year revenue progression
Five year revenue progression Revenue by operating segment £m 2021 2022 2023 2024 2025 Wiring Accessories 104.5 73.7 82.6 108.9 131.4 LED Lighting 63.2 81.4 79.0 78.4 79.3 Portable Power 60.5 51.2 47.4 55.2 60.7 Total Group 228.2 206.3 209.0 242.5 271.4 Revenue by geographical location of customer £
Slide 37: 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 38: 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 39: 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 40: 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