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LUCECO 7 September 2021 LUCECO PLC 2021 INTERIM RESULTS Strong progress and well positioned for long - term growth Luceco plc ( " Luceco " , or the " Group " or the " Company " ) , a manufacturer and distributor of high quality and innovative wiring accessories , LED lighting , and portable power products , today announces its unaudited results for the six months ended 30 June 2021 ( " H1 2021 " or " the period " ) . Reported results Constant Six months ended Change vs 2020 currency change vs | Adjusted¹ results Constant currency 20202 30 June ( £ m ) 2021 2020 2019 ( % ) ( % ) 2021 2020 2019 vs 2020 ( % ) Change change vs 20202 ( % ) Revenue Gross margin % 108.2 71.6 82.7 38.5 % 38.4 % 35.0 % Operating profit 19.0 8.8 51.1 % 0.1ppts 7.0 115.9 % 58.4 % 108.2 38.5 % 19.2 71.6 38.4 % 9.0 Operating margin % 17.6 % 12.3 % 8.5 % 5.3ppts 17.7 % 12.6 % 82.7 35.0 % 7.2 8.7 % 5.1ppts 51.1 % 0.1ppts 113.3 % 58.4 % ( 0.8ppts ) 123.3 % 5.1ppts Profit before tax 16.6 8.4 5.3 97.6 % 18.5 8.3 6.1 122.9 % Profit after tax 13.4 6.8 4.1 97.1 % 15.0 6.7 4.9 123.9 % Basic earnings per share 8.7p 4.4p 2.6p 97.7 % 9.8p 4.3p 3.1p 127.9 % Net debt 24.3 22.7 36.4 7.0 % Net debt : EBITDA³ 0.5x 0.8x 1.5x ( 37.5 % ) Free cash flow 5.0 6.7 2.1 ( 25.4 % ) 5.0 10.2 5.1 ( 51.0 % ) Return on capital 42.5 % 24.5 % 18.3 % 18.0ppts invested Dividend per share4 2.6p 1.5p 0.6p 73.3 % 1. The definitions of the adjustments made and reconciliations to the reported figures can be found in note 1 of the condensed consolidated financial statements 2. H1 2021 translated at H1 2020 exchange rates . These were 1.26 for £ : US dollar and 9.04 for £ : RMB . Further details in note 10 of the condensed consolidated financial statements 3. Last 12 months earnings before net finance expense , tax , depreciation and amortisation 4. H1 2020 excludes the one - off special interim dividend of 1.7p paid in 2020 in lieu of the suspended final dividend payment for 2019 Financial highlights • Revenue increased to £ 108.2m : • ○ £ 36.6m ( 51.1 % ) higher than a COVID - disrupted H1 2020 O £ 25.5m ( 30.8 % ) higher than H1 2019 , underlining the extent of our ongoing market share gains Gross Margin of 38.5 % : ○ 0.1ppts higher than H1 2020 o 2.3ppts lower than H2 2020's record levels , as expected , due to temporary compression from cost inflation , but with operating margins supported by high operating leverage on increased sales • Adjusted Operating Profit of £ 19.2m , more than double H1 2020 and H1 2019 : • • 。 Material expansion in Adjusted Operating Margin to 17.7 % Net debt to Adjusted EBITDA at 0.5x providing substantial capacity for future investment in growth Proposed interim dividend of 2.6p , 73.3 % higher than H1 2020 Business highlights • Generally favourable market conditions : 。 Healthy UK residential RMI market throughout the first half o Improving conditions in UK commercial and institutional and overseas markets ○ Sources of growth increasingly diversified 1