LucyGroup-ARA2024_spreads web ready_FINAL

OUR STRATEGY

BUSINESS OVERVIEW STRATEGIC REPORT CORPORATE GOVERNANCE FINANCIAL STATEMENTS SHAREHOLDER INFORMATION

Our five strategic pillars provide a guiding framework that helped us focus on achieving 2024 revenue and profit targets, while laying the foundation for long-term sustainable growth. These overarching strategic priorities were then tailored into specific goals for each business unit which, in turn, shaped each employee’s personal annual objectives.

High Performing Businesses in diverse industries

Customer at the Centre of everything we do

Engagement and Development of our people

Sustainable solutions and communities

Excellence through Innovation to differentiate and lead

Priorities • Expansion via new and existing

Priorities • Excellent customer service and care to internal and external stakeholders • Market intelligence and customer data to drive value and competitiveness • An uncompromising approach to quality and standards

Priorities • High employee engagement rates at every site and level • Attraction, retention and upskilling of talent to support ongoing growth • Diversity & Inclusion to stimulate fresh thinking Performance in 2024 • Our overall employee engagement score rose to 78%, with a participation rate of 87% • 100 courses were delivered across the globe, training over 1,200 employees on topics such as the six critical practices of leading a team and seven habits of highly effective people • We delivered unconscious bias training to hiring managers in 2024 (47 people, 70+ hours)

Priorities • The health, safety and wellbeing of all stakeholders • Reduced environmental impact across operations, supply chains and customers • Actively supporting and investing in our communities

Priorities • Bold thinking to meet changing customer needs • Digitalisation & AI to enhance value across customer offerings and business operations • Data capture and integrity, countering cyber risk Performance in 2024 • Lucy Developments adopted the direct procurement model for most projects to help bring improvements in quality control, delivery timelines and cost efficiency • Lucy Electric’s digital service offering furthered the transition of customers from Distribution Network Operators to Distribution System Operators, actively managing and optimising the flow of grid power in real time • We achieved ISO27001 certification – the leading international standard for information security management – and Cyber Essentials Plus accreditation Priorities for 2025 • Bold thinking to meet changing customer needs • Digitalisation and AI to enhance value across customer offerings and business operations • Data capture and integrity, countering cyber risk

markets/products, while managing margins

• Continuous improvement in

productivity, cost efficiency and agility • Compliance with global policies and local regulation

Performance in 2024 • Flashnet’s luminaire controllers have now been installed in 2.5 million USA streetlights across multiple states • Lucy Electric expanded and upgraded factories in Saudi Arabia, the UAE, and India • Launched 20 new and updated Group polices as part of the Leading Responsibly governance framework

Performance in 2024 • By listening closely to customer

Performance in 2024 • By installing solar panels, we

requirements and developing products to match, Lucy Electric saw sales grow by 11% in 2024 • The Copilot artificial intelligence tool was launched, improving service levels at a number of customer touchpoints

generated 535,181 kWh of energy, leading to a saving of 110.8 tonnes of CO 2 equivalent (tCO 2 e)

KPI Key

• We completed a total of 47

1

Sales growth

Biodiversity Net Gain projects in 2024 against a target of 30

• Lucy Properties and Lucy

• We supported 80 different

2

Developments achieved a Net Promoter Score of 89/100 and 78/100 respectively

charities, community projects and environmental organisations and participated in 212 activities

PBT growth

3

Return on Net Assets

Total Recordable Incident Rate (TRIR)

4

Priorities for 2025 • Expansion via new and existing products and markets, while managing margins • Improve productivity and supply chain resilience through cost efficiencies, agility and automation • Compliance with global policies and local regulation

Priorities for 2025 • Excellent customer service and care to internal and external stakeholders • Market intelligence and customer data to drive value and competitiveness • An uncompromising approach to quality and standards

Priorities for 2025 • High employee engagement rates at every site and level • Employee attraction & retention, with workforce planning to enhance skills and employee development • Diversity & Inclusion to stimulate fresh thinking

Priorities for 2025 • The health, safety and wellbeing of all stakeholders • Reduced environmental impact across operations, supply chains and customers • Actively supporting and investing in our communities

Occupancy rate for rental properties

5

6

TCO 2 e

Employee engagement score

7

Link to KPIs 1 2 3

Link to KPIs 1 5

Link to KPIs 4 6 7

Link to KPIs 4 6

Link to KPIs 2 3

For more information on Key Performance Indicators (KPIs) see pages 30 and 31

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Lucy Group Ltd Annual Report & Accounts 2024

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