Luceco Reports Strong First-Half Results with Energy-Transition Growth
Luceco reported strong first-half results, driven by significant growth in its energy-transition business and overall revenue expansion. Revenue rose to £142.6 million, a 13.4% increase year-over-year, while adjusted operating profit climbed 14.5% to £15.8 million. Energy transition-related revenue more than doubled to £18 million during the period, highlighting its growing contribution to overall performance. The company raised its interim dividend by 16.7%, and management expects full-year adjusted operating profit to exceed market expectations despite negative free cash flow of £2.1 million due to inventory buildup for anticipated demand in the second half and investments in EV infrastructure. Luceco also highlighted long-term potential from its Demand Flexibility platform, which manages over 30,000 active chargers. Under new CEO Thorsten Müller, who joined at the start of September, the company emphasized continued momentum built on strong performance across all segments and geographies. CFO Will Hoy noted that energy transition revenue grew by an impressive 119.5%, while core business growth remained steady.
Topics: dividend_increase energy_transition operating_profit revenue_growth