**Summary**
Luceco PLC, a leading designer and manufacturer of residential and commercial electrification products, released its 2025 full-year trading update on January 29, 2026, highlighting a strong performance that exceeded market expectations. Key points include
1. **Financial Performance**
Revenue grew by 12% to ยฃ271 million, driven by a 6% like-for-like growth in the second half and a significant 85% increase in EV charging sales to ยฃ18 million.
Adjusted Operating Profit rose by 15% to at least ยฃ33.5 million, surpassing the top end of market expectations, with margins exceeding 12%.
2. **Operational Highlights**
Strong momentum in EV charging and solid growth in wiring accessories and LED products.
Manufacturing efficiency improvements and synergies from acquisitions, including CMD production synergies and consolidation of the D-Line UK facility, are enhancing margins.
3. **Outlook for 2026**
Positive momentum continues into 2026, supported by exposure to structural growth in the energy transition sector.
The Board has increased revenue and Adjusted Operating Profit expectations for 2026, comfortably exceeding market consensus.
4. **Financial Position**
Strong cash flow generation of ยฃ30 million and reduced net debt to ยฃ53 million, lowering the leverage ratio to 1.3x.
Robust balance sheet provides flexibility for further investment in organic growth and M&A.
5. **CEO Commentary**
CEO John Hornby attributed the success to sustainable competitive advantages, including superior channel access, agile product innovation, and vertically integrated manufacturing. He expressed confidence in delivering profitable growth in 2026 and beyond, particularly in the energy transition sector.
Overall, Lucecoโs 2025 performance reflects strong growth, improved margins, and a positive outlook for 2026, supported by strategic initiatives and a solid financial position.
Below is the HTML table code comparing the financials and debt year-on-year for Luceco PLC based on the provided text:
### Explanation:
- **Revenue**: Increased by 12% from ยฃ242.5m in 2024 to ยฃ271.0m in 2025. - **Adjusted Operating Profit**: Grew by approximately 15% from ยฃ29.0m in 2024 to at least ยฃ33.5m in 2025. - **Adjusted Operating Profit Margin**: Improved from 12.0% in 2024 to exceed 12.0% in 2025. - **EV Charging Sales**: Surged by 85% from ยฃ9.8m in 2024 to ยฃ18.0m in 2025. - **Bank Net Debt**: Decreased by 23% from ยฃ68.6m in 2024 to ยฃ53.0m in 2025. - **Leverage Ratio**: Improved from 1.6x in 2024 to 1.3x in 2025. - **Adjusted Free Cash Flow**: Reversed from an outflow in 2024 to ยฃ30.0m in 2025. This table provides a clear year-on-year comparison of key financial and debt metrics for Luceco PLC.