Luceco (LON:LUCE) Issues Earnings Results

Key Points

• Strong first-half results: Revenue increased 13.4% to £142.6 million and adjusted operating profit rose 14.5% to £15.8 million, with growth across all segments and regions. Earnings were GBX 4.60 per share.
• Energy-transition growth supports the outlook: Energy-transition revenue more than doubled, while management expects full-year adjusted operating profit to exceed market expectations. Luceco also has a product pipeline spanning EV charging and related technologies.
• Cash flow was a weakness: Adjusted free cash flow was a £2.1 million outflow as inventory days rose to 145, and management expects second-half cash generation to be lower than in 2025. Shares fell 3%, despite analysts maintaining a “Moderate Buy” consensus and an average GBX 295 price target.

Luceco (LON:LUCE - Get Free Report) announced its quarterly earnings results on Tuesday. The company reported GBX 4.60 earnings per share for the quarter, Digital Look Earnings reports. Luceco had a return on equity of 20.71% and a net margin of 7.48%.

Here are the key takeaways from Luceco's conference call:

• Strong first-half performance: Revenue rose 13.4% to £142.6 million and adjusted operating profit increased 14.5% to £15.8 million, with growth across all segments, sales channels, and geographies.
• Energy transition is driving growth: Energy transition revenue more than doubled, up 119.5%, while Portable Power contributed £2.3 million of incremental operating profit. The company also expects adjusted operating profit for the full year to be ahead of market expectations.
• Growth pipeline and balance sheet support expansion: Luceco is developing products including high-power DC, vehicle-to-grid, and smart portable EV chargers, while leverage remained comfortable at 1.5x EBITDA with £44.4 million of undrawn facilities for organic investment and bolt-on acquisitions.
• Cash flow and working capital were weaker in the first half: Adjusted free cash flow was a £2.1 million outflow, inventory days increased to 145, and management expects second-half cash generation to be lower than in 2025 because of accounts-receivable timing.
• The new CEO identified focus and capital allocation, process excellence, and organizational structure as near-term priorities, while noting that geopolitical events could delay significant investment projects in the Middle East during the second half.

Luceco Stock Down 3.0%

Shares of Luceco stock opened at GBX 228 on Tuesday. Luceco has a one year low of GBX 123 and a one year high of GBX 291. The company has a market cap of £335.59 million, a P/E ratio of 17.01, a PEG ratio of 0.62 and a beta of 1.34. The firm has a fifty day moving average of GBX 230.39 and a two-hundred day moving average of GBX 227.57. The company has a debt-to-equity ratio of 60.83, a quick ratio of 1.51 and a current ratio of 1.90.

Analysts Set New Price Targets

A number of equities analysts recently weighed in on LUCE shares. Jefferies Financial Group reissued a "buy" rating and issued a GBX 320 price target on shares of Luceco in a report on Monday, August 10th. Deutsche Bank Aktiengesellschaft lowered shares of Luceco to a "hold" rating and set a GBX 260 price objective on the stock. in a research note on Wednesday, July 29th. Berenberg Bank restated a "buy" rating and set a GBX 300 price target on shares of Luceco in a research note on Tuesday. Finally, Peel Hunt reissued a "buy" rating and issued a GBX 300 target price on shares of Luceco in a report on Monday, August 10th. Three analysts have rated the stock with a Buy rating and one has issued a Hold rating to the company's stock. Based on data from MarketBeat, the stock presently has a consensus rating of "Moderate Buy" and an average target price of GBX 295.

Insiders Place Their Bets

In other news, insider John Hornby sold 505,000 shares of the firm's stock in a transaction on Friday, August 21st. The shares were sold at an average price of GBX 224, for a total value of £1,131,200. Also, insider Janet Ryan bought 3,706 shares of Luceco stock in a transaction dated Wednesday, July 1st. The shares were bought at an average price of GBX 270 per share, for a total transaction of £10,006.20. Insiders own 23.25% of the company's stock.

About Luceco

Luceco plc manufactures and distributes wiring accessories and LED lighting and portable power products in the United Kingdom, Europe, the Middle East, the Americas, the Asia Pacific, and Africa. It offers wiring accessories, including switches and sockets, circuit protection products, outdoor wiring devices, junction boxes, cable management products, and commercial power and accessories under the British General and Nexus brands. The company also provides LED lighting products, such as residential and commercial, interior and exterior, mains and solar, and work and site lighting products under the Luceco, Kingfisher Lighting, and DW Windsor brand names; and portable power products comprising electric vehicle chargers, extension leads, cable reels, and adapters and accessories under the Masterplug, Ross, and Sync EV brands.

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