UK's Luceco H1 revenue rises on Energy Transition growth

By Reuters News


Overview

  • UK electrification products maker's H1 2026 revenue grew 13.4% yr/yr, driven by Energy Transition

  • Adjusted operating profit for H1 2026 rose 14.5% yr/yr, with margin slightly improved

  • Company expects full-year adjusted operating profit to be ahead of market expectations


Outlook

  • Luceco expects 2026 adjusted operating profit to be ahead of market expectations

  • Company says recurring revenue from Demand Flexibility will grow with EV charger base

  • Company expects further margin progress in the second half despite input cost headwinds


Result Drivers

  • ENERGY TRANSITION - Co said 119.5% yr/yr growth in Energy Transition products, including EV chargers and Demand Flexibility, was the main driver of revenue and profit growth

  • CHANNEL PERFORMANCE - Professional Wholesale channel grew 33.7% yr/yr, driven by EV charger sales; Retail and Hybrid channels grew 8.7% on like-for-like basis

  • OPERATING EFFICIENCY - Co said margin improvement was achieved despite input cost headwinds, through disciplined pricing, operational efficiency and volume leverage


Company press release:


Key Details

Metric

Beat/Miss

Actual

Consensus Estimate

H1 Net Income

GBP 6.90 mln

H1 Net Debt

GBP 69.60 mln

H1 Operating Profit

GBP 11.60 mln

H1 Pretax Profit

GBP 9.10 mln


Analyst Coverage

  • The current average analyst rating on the shares is "strong buy" and the breakdown of recommendations is 3 "strong buy" or "buy", 1 "hold" and no "sell" or "strong sell"

  • The average consensus recommendation for the electrical components & equipment peer group is "buy."

  • Wall Street's median 12-month price target for Luceco PLC is GBp300.00, about 27.7% above its September 21 closing price of GBp235.00

  • The stock recently traded at 13 times the next 12-month earnings vs. a P/E of 15 three months ago


Reuters Recommended Reads

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For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.


(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)

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