Luceco plc (LUCE) Q2 2025 Earnings Call

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WEBVTT 00:00:00.031 -- 00:00:05.338 Good morning everybody and welcome to Le Seco's first half results presentation 00:00:05.338 -- 00:00:10.044 for 2025. Thank you everyone who is joining on the webcast. 00:00:10.044 -- 00:00:13.027 Revenue approximately £126 00:00:13.027 -- 00:00:18.354 million up almost 15% on last year. Operating profit of circa £14 million 00:00:18.354 -- 00:00:23.761 up almost 10% on last year. adjusted operating margin of 11%. 00:00:23.761 -- 00:00:29.027 This is slightly down on last year, reflecting the investments we are making in the future 00:00:29.027 -- 00:00:32.472 growth, especially in the energy transition business. 00:00:32.472 -- 00:00:35.575 This is mainly engineering activity, 00:00:35.575 -- 00:00:40.261 but also the software development. And the benefits of this will start to come through 00:00:40.261 -- 00:00:45.526 in the second half. Thus, I expect the full-year operating margin to be ahead 00:00:45.526 -- 00:00:50.531 of last year. As we know, our second half is always significantly stronger for us 00:00:50.531 -- 00:00:54.855 than the first half, and this year that will be particularly so. 00:00:54.855 -- 00:01:00.019 Leverage at 1.6%, our dividend up almost 6%, and EPS 00:01:00.019 -- 00:01:05.184 slightly ahead of last year. As I said, first-half revenues up almost 15%. 00:01:05.184 -- 00:01:10.489 This is partly due to M&A, but also extremely strong growth within the EV 00:01:10.489 -- 00:01:16.820 category. When we bought the business in the 12 months up to acquiring 00:01:16.820 -- 00:01:19.746 it in 2022, 00:01:19.746 -- 00:01:23.213 Pinky V turned over 4 million and 00:01:23.213 -- 00:01:27.123 this year should be closer to 18 million. 00:01:27.123 -- 00:01:32.030 We lost approximately 1% of the group revenue in the...