Luceco posts double-digit revenue growth as EV charger demand climbs

Luceco, a UK manufacturer of electrification products, reported 11.9% year-on-year revenue growth for 2025, driven principally by a surge in EV charger sales. Adjusted earnings per share rose 20% versus the prior year. Net income, operating profit, and pretax profit were reported at £20.30 million, £31.60 million and £24.70 million respectively. Management said improved manufacturing efficiency - notably at its China facility - and operational leverage supported margin expansion, while recently acquired D-Line and CMD added revenue and early synergies. The company expects adjusted operating profit for 2026 to exceed £37 million.

Key Points

Luceco reported 11.9% year-on-year revenue growth for 2025, led by strong EV charger demand.
Adjusted earnings per share rose 20% year-over-year; net income was £20.30 million, operating profit £31.60 million and pretax profit £24.70 million.
EV charger sales surged 84.7%; manufacturing efficiency - especially at the China facility - and early synergies from D-Line and CMD acquisitions supported margin expansion and revenue gains.

Overview

Luceco, the UK-based maker of electrification products, recorded an 11.9% increase in revenue for the 2025 financial year. Management identified EV charger sales as the principal contributor to the top-line expansion, and reported gains across several profit measures.

Profitability and earnings

The company reported a 20% rise in adjusted earnings per share compared with the prior year. Reported profit metrics for 2025 included net income of £20.30 million, operating profit of £31.60 million and pretax profit of £24.70 million. Management attributes these improvements to volume growth in higher-margin product lines and efficiency gains.

EV charger performance

Sales of EV chargers were up 84.7% during the period and were cited as the key driver of both revenue and profit growth. The outsized increase in that product category materially influenced the company’s overall results for the year.

Operational drivers

In addition to stronger end-market demand for EV chargers, Luceco identified improved manufacturing efficiency and operational leverage as important contributors to margin expansion. Management singled out the company’s China facility as a particular source of productivity gains that supported cost management and margins.

Acquisitions and synergies

The integration of the D-Line and CMD acquisitions was also credited with contributing to revenue growth. Luceco said those deals delivered early synergy benefits, supporting incremental sales and operating performance in the reported period.

Outlook

Looking ahead to 2026, the company expects adjusted operating profit to exceed £37 million. No additional quantitative guidance was provided beyond that operating profit threshold.

Implications

The reported results indicate a combination of product mix shift toward EV charging solutions, operational improvements in manufacturing, and initial gains from recent acquisitions. Management’s 2026 adjusted operating profit target reflects an expectation that these factors will continue to underpin profitability into the next year.

Risks

Results rely heavily on continued demand for EV chargers - any slowdown in that product category could affect revenue and profit growth (impacts electrification and automotive supply sectors).
Operational improvements and margin expansion were linked to specific facility gains - sustained efficiency at manufacturing sites, including the China facility, is necessary to maintain margins (impacts industrials and manufacturing sectors).
Realizing the expected benefits from D-Line and CMD integrations will be important to support future earnings - failure to capture expected synergies could affect profitability (impacts corporate M&A outcomes and shareholder returns).

Menu

Key Points

Risks

More from Stock Markets