Luceco plc (LUCE) Q2 2024 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:06.480 Okay, good morning everybody and welcome to the Lusico H1 2024 00:00:06.844 -- 00:00:09.365 results presentation. 00:00:10.271 -- 00:00:11.914 Highlights 00:00:11.914 -- 00:00:15.120 in what was a 00:00:15.120 -- 00:00:20.551 difficult period as far as market demand, 00:00:20.551 -- 00:00:23.251 we think we've executed well. 00:00:23.251 -- 00:00:27.378 Our revenue up just over 8% 00:00:27.378 -- 00:00:33.229 of which 3.6% on a light for light organic basis 00:00:33.229 -- 00:00:36.414 in a market which has declined by approximately 3%. 00:00:36.414 -- 00:00:37.937 This 00:00:37.937 -- 00:00:43.146 resulted in an operating profit up almost 17% 00:00:43.146 -- 00:00:44.629 and 00:00:44.629 -- 00:00:48.614 an operating margin almost 1% higher. 00:00:48.614 -- 00:00:50.577 Our free 00:00:50.577 -- 00:00:55.381 cash flow was also strong, leaving our 00:00:55.664 -- 00:00:57.667 net debt 00:00:57.667 -- 00:01:03.094 ratio just over one times. EPS was up over 12%, and 00:01:03.094 -- 00:01:06.119 our dividend also up slightly. 00:01:06.119 -- 00:01:08.864 Some highlights I will pick up. 00:01:08.864 -- 00:01:12.667 Some other highlights I can pick up here. Operating 00:01:13.451 -- 00:01:16.853 profit, as I say, up 16% to 12.6 00:01:18.839 -- 00:01:23.565 million. And historically, we've always 00:01:23.565 -- 00:01:29.234 been a business which has made a higher operating margin in the second half of the year. 00:01:29.234 -- 00:01:32.793 We are therefore on track. 00:01:32.793 -- 00:01:37.410 to perform for the full year in line with market expectations. 00:01:37.410 -- 00:01:43.484 Our residential EV charging business is also growing strongly and we're 00:01:44.099 -- 00:01:49.245 extremely excited about the launch of our first EV char...