EarningsQ2 2026 Earnings Report
DE:2LC Q2 2026 EPS Results
Actual EPS€0.08
Consensus EPS€0.07
Beat/MissBeat by +<€0.01
One Year Ago EPS€0.07
DE:2LC Q2 2026 Revenue Results
Actual Revenue€166.26M
Expected Revenue€166.72M
Beat/MissMissed by -€466.36K
YoY Revenue Growth+13.44%
Earnings Announcement Details
QuarterQ2 2026
Date09/22/2026
TimeBefore Open
Conference CallTuesday, September 22, 2026
DE:2LC Upcoming Earnings
Luceco plc's next earnings date is estimated for March 23, 2027, based on past reporting schedules.
Q2 2026 Earnings Call Audio
No earnings call audio is available for this earnings event.
Q2 2026 Earnings Slide Deck
No slide deck is available for this earnings event.
Q2 2026 Earnings Call Summary
Earnings Call Sentiment|Positive
The call was strongly positive. The company reported double-digit revenue and profit growth, broad-based performance across segments and geographies, improving returns, a higher dividend, strong energy transition momentum, and adjusted operating profit expected to be ahead of market expectations. The main challenges were lower first-half free cash flow, higher inventory and working capital investment, temporary material-cost pressure in Wiring Accessories, Dubai-related uncertainty, a higher tax rate, and evolving Demand Flexibility regulation.Company Guidance
Strong First-Half Revenue Growth
H1 revenue increased 13.4% to GBP 142.6 million, with growth accelerating through the period: like-for-like growth was 12.9% in Q1 and 14.9% in Q2. All three operating segments, all four sales channels, and each geography delivered growth.
Energy Transition Growth
Energy transition revenue increased 119.5%, more than doubling and serving as the principal driver of growth. Its contribution to half-year revenue increased from GBP 2 million in 2022 to GBP 18 million in 2026, while the remainder of the core business grew by 6.5%.
Improved Profitability and Returns
Adjusted operating profit increased 14.5% to GBP 15.8 million, adjusted operating margin improved by 10 basis points to 11.1%, and return on capital invested improved by 50 basis points to 20.5%.
Higher Profit Before Tax and Earnings Per Share
Adjusted profit before tax increased 19.4% to GBP 12.9 million. Adjusted earnings per share increased 13.6% to GBP 0.067, while adjusted net finance expense remained broadly stable at GBP 2.9 million.
Gross Margin Resilience
Adjusted gross profit increased to GBP 59.8 million and adjusted gross margin was 41.9%, broadly in line with the prior year despite increases in key material costs. Strong manufacturing productivity, close cost control, disciplined pricing, and work with customers to pass through higher commodity costs supported performance.
Increased Interim Dividend
The board will pay an interim dividend of GBP 0.021 per share, an increase of 16.7%, reflecting the group's strong first-half performance and confidence in the outlook.
Portable Power and CMD Contributions
Portable Power added GBP 12.8 million of revenue and was the standout contributor, driven by energy transition activity. It contributed an additional GBP 2.3 million of operating profit and was the principal driver of group profit growth. Wiring Accessories revenue increased by GBP 3.8 million, contributing 3% to group like-for-like growth, and CMD entered H2 with a healthy order book.
CMD Integration and Commercial Momentum
Integration synergies from CMD are flowing through, supported by Luceco's competitive manufacturing and product sourcing. The CMD sales team is winning key tenders.
LED Lighting and Overseas Recovery
LED lighting revenue increased by GBP 0.9 million, including a strong first-half performance from DW Windsor. The company also reported some recovery in its overseas operations, and the Dubai business still delivered growth despite a challenging six months operationally.
Investment in Growth Capabilities
Adjusted operating costs increased by approximately GBP 5 million to GBP 44 million, reflecting targeted investments in EV infrastructure, marketing, and technical capability, together with wage and salary increases. The company also continued simplifying its operating footprint by consolidating D-Line warehousing and associated labor into the wider group.
Strong Balance Sheet and Acquisition Capacity
Bank leverage improved to 1.5x EBITDA from 1.6x and remained within the target range of 1x-2x. The group had GBP 44.4 million of undrawn facilities, with the facility maturing in May 2029, and remained comfortably within its banking requirements. Management said this provides capacity for organic investment and selective bolt-on acquisitions.
Demand Flexibility Platform Progress
The company moved to an in-house charger management platform in Q4 2024, achieved COP-11 metering certification in Q1 2026, and now has more than 30,000 chargers active in demand flexibility. Management said growth in the active base more than offset changes in the regulated mechanism.
Recurring Revenue Opportunity from EV Charging
Demand Flexibility adds a recurring revenue stream to the initial hardware sale, with the opportunity growing as Luceco expands its installed base and platform functionality. Management said successful EV charger sales will also improve Demand Flexibility revenue.
Attractive Structural Growth Markets
The company is positioned across electrification-related products including EV chargers, heat pumps, solar panels, batteries, enclosures, isolators, metering, and circuit protection. Electrical product content in a renewables-ready home is estimated at GBP 200-GBP 300 more than in a traditional home.
Long-Term EV Charger Market Growth
The U.K. EV charger market is forecast to grow at a sustained double-digit rate, with charger installations expected to grow at a compound annual growth rate of 13% to 2030 and continued growth beyond that time, with the potential to be another three times larger.
Broad 2026 Product Pipeline
The 2026 pipeline includes high-power DC charging, vehicle-to-grid-capable products, a smart portable EV charger, three-phase and HVAC circuit protection, grid light modular, luxury switches, 65 W integrated USB charging, home office power products, DYNAMIS stadium lighting, and hinged trunking.
Long-Term Financial Progression
Revenue increased from GBP 206.3 million in 2022 to GBP 271.4 million in 2025, while adjusted operating profit increased from GBP 22 million to GBP 33.8 million. Adjusted operating margin improved from 10.7% to 12.5% over the same period.
Positive Full-Year Outlook
The group continues to experience strong demand across key product categories, channels, and territories. Management expects adjusted operating profit to be ahead of market expectations.
Strategic Priorities for Future Growth
The new CEO identified three priorities: focus and stringent capital allocation, process excellence through best-in-class processes and technology, and structure through a decentralized, lean, team-led operating model with a strong talent base.
DE:2LC Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed