H1 2025 Trading Update

Continued momentum with H1 revenue up 15% and adjusted operating profit up 10%. Solid contribution from growing demand in EV charging products. Full year expectations unchanged.

Luceco, the leading designer and manufacturer of residential and commercial electrification products and systems, is pleased to provide the following update for the six months ended 30 June 2025 ("H1 2025" or the "first half").

Continued momentum in H1 2025

• Solid performance in the first half with revenue growth of c.15% to c.£125m driven by the acquisitions of D-Line and CMD, alongside continued strong growth in EV charging products.
• Adjusted operating profit margin of c.11% reflecting a slight headwind from seasonality.
• Adjusted operating profit expected to be in the region of £13.5m - £13.8m, up approximately 10% on the prior year.
• Significant progress with the integration of the 2024 acquisition of CMD into the Group's supply chain, providing a strong platform for sustainable future growth.

Robust balance sheet

• Bank Net Debt : EBITDA ratio of c.1.6x, within the targeted range of 1-2x.
• New £120m revolving credit facility, providing further balance sheet optionality in line with the Group's stated capital allocation policy.

Full year outlook unchanged, underpinned by Luceco's competitive advantages

• Our already limited direct exposure to US/China tariffs has continued to reduce, representing only c.£1m of sales in H1.
• The Group continues to see positive momentum in its consumer and retail forward demand indicators.
• Operational efficiency continues to improve at Luceco's key manufacturing centre.
• The Board's full year expectations remain unchanged, underpinned by the strength of Luceco's market position, manufacturing capability and cash generative business model.

Commenting on trading, Chief Executive Officer, John Hornby said:

"We are well positioned for another year of encouraging growth and strategic progress, driven by the breadth of our product range, our established market position, flexible manufacturing capability and the successful integrations of the recent acquisitions of D-Line and CMD. Our robust balance sheet, recent refinancing and good cash generation provide optionality to invest in the business both organically and through M&A to drive future growth.

"While there remains a level of economic uncertainty globally, Luceco's fundamental competitive advantages of strong product development, superior channel access, vertically integrated manufacturing and good cash generation, alongside our increasing exposure to high growth markets such as residential and commercial energy transition, underpin our confidence in delivering further progress this financial year and beyond."

Half Year Results

Luceco expects to publish its half year 2025 results statement on Tuesday, 9 September 2025.

James White Tilly Abraham