Q3 2025 Trading Update

11 November 2025

LUCECO PLC

Q3 2025 TRADING UPDATE

Luceco, the leading designer and manufacturer of residential and commercial electrification products and systems, is pleased to provide the following update for the three months ended 30 September 2025 ("Q3 2025" or the "third quarter" or the "quarter").

Third sequential quarter of growth:

· Revenue up 19.5% in Q3 2025, with EV charging products continuing to be a key driver:

o  Like-for-like revenue growth of c.10% against a relatively soft comparative period;

o  EV charging like-for-like revenue growth remains very strong at 64%; and

o  Encouraging growth in most other categories

· Year-to-date like-for-like growth of +c.5% reflecting a sequentially improving trend:

o  Q1: +0.6%, Q2: +3.2%, Q3: +c.10% (like-for-like)

· Operating margin increased 40bps in Q3 2025 compared with Q3 2024

Robust balance sheet providing headroom for further investment:

· Bank Net Debt at the end of Q3 2025 of £68.4m, giving a Bank Net Debt:EBITDA leverage ratio of 1.6x, comfortably within the Group's target leverage range of 1-2x

· Strong balance sheet and cash flow generation provides optionality to invest organically and through M&A, in line with the Group's stated capital allocation policy

Full year profitability now expected to be towards the upper end of market expectations:

· Revenue growth achieved in the year-to-date, combined with a strong order book for Q4 2025, means full-year adjusted operating profit is now expected to be towards the upper end of market expectations1

· The Group's confidence is underpinned by the strength of Luceco's market position, manufacturing capability and cash generative business model

· CMD and D-Line synergy projects are progressing, driven by cost efficiency benefits through their integration to our lower cost manufacturing capabilities

· Operational efficiency also continues to improve at Luceco's key manufacturing centre

Commenting on the Q3 2025 performance, Chief Executive Officer, John Hornby said:

"Luceco's sustainable competitive advantages of superior channel access, agile product innovation capabilities, and vertically integrated manufacturing have supported double-digit revenue growth in the third quarter. As a result, Luceco is on track to achieve another year of strong revenue and profit growth and our profit expectations for the full year will now be towards the upper end of market expectations. 

"During the quarter, our EV product offering remained in strong demand and our Link EV Chargers are now stocked through our market-leading distribution channels. Longer term, Luceco remains well positioned to deliver above market growth, driven by a combination of the structural opportunities from electrification, our sustainable competitive advantages and our clear, consistent strategy."

1 Company-compiled analyst consensus as at 10 November 2025, is for full year 2025 Adjusted Operating Profit of £31.2m, with a range of £30.5m - £32.5m

For the purposes of MAR and Article 2 of Commission Implementing Regulation (EU) 2016/1055, this announcement is being made on behalf of Luceco plc by Will Hoy, Chief Financial Officer.

Note to Editors

Luceco plc (LSE:LUCE) is a leading designer and manufacturer of residential and commercial electrification products and systems. The Group designs and manufactures its market-leading range of wiring accessories, EV chargers, LED lighting, and portable power products at its state-of-the-art manufacturing facilities, distributing them through professional, wholesale and retail channels.

For more information, please visit www.lucecoplc.com.

Forward-looking statements

This announcement contains forward‑looking statements that are subject to risk factors associated with, among other things, the economic and business circumstances occurring from time to time in the countries, sectors and markets in which the Group operates. It is believed that the expectations reflected in these statements are reasonable, but they may be affected by a wide range of variables which could cause actual results to differ materially from those currently anticipated. No assurances can be given that the forward‑looking statements in this announcement will be realised.

The forward‑looking statements reflect the knowledge and information available at the date of preparation of this announcement and the Company undertakes no obligation to update these forward‑looking statements. Nothing in this announcement should be construed as a profit forecast.