Beacon Lighting lifts FY2026 sales to record $340.3M as trade momentum builds
In its FY2026 results presentation dated 27 August 2026, Beacon Lighting Group reported underlying sales rose 3.5% to $340.3M, a record across the FY2022 to FY2026 trajectory. Underlying EBITDA lifted 1.6% to $88.5M, while underlying NPAT eased 4.5% to $28.1M.
The standout operational story was trade, with trade sales now representing 43.3% of total relevant sales and tracking toward a stated 50% by 2028 goal. Management noted Q4 FY2026 company store comparative sales rose 7.1%, with momentum continuing into FY2027. For investors, the picture combines steady top-line growth with a clear structural shift toward trade customers.
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FY2026 financial results at a glance
The FY2026 underlying result is compared against the FY2025 statutory result throughout the presentation, unless otherwise stated. The table below summarises the headline movements.
| Metric ($’000) | FY2025 Statutory | FY2026 Underlying | Change $ | Change % |
|---|---|---|---|---|
| Sales | 328,918 | 340,309 | +11,391 | 3.5% |
| Gross Profit | 227,221 | 233,604 | +6,383 | 2.8% |
| EBITDA | 87,069 | 88,499 | +1,430 | 1.6% |
| EBIT | 50,988 | 49,406 | −1,582 | −3.1% |
| NPAT | 29,368 | 28,054 | −1,314 | −4.5% |
The difference between the statutory and underlying results reflects $1.5M in restructuring costs relating to the Beacon Trade Rebate, Installation Department, Beacon Lighting America and the Group Support Centre. This is a reconciliation adjustment rather than a loss event, applied to arrive at the underlying figures.
Key margin and cost notes from the presentation include:
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Gross profit margin eased to 68.6%, supported by the vertically integrated supply chain despite the shift in sales mix toward trade
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Underlying operating expenses were 43.6% of sales, totalling $148.5M
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Other income rose 20.5% to $3.4M, reflecting an improved return from the Large Format Property Fund
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Depreciation increased 8.3% and finance costs 6.8%, reflecting lease accounting and continued business investment
Why the trade shift matters for investors
For a lighting retailer, “trade sales” refers to sales made to professional customers such as electricians, builders, architects and interior designers, as distinct from retail sales to homeowners. A growing trade share is strategically valuable because professional customers help underpin overall store sales.
During FY2026, total trade sales reached $139.5M, with trade sales through Beacon Lighting stores up 14.5%. Trade now represents 43.3% of total relevant sales, a measure that includes Stores, Commercial, Masson For Light and Custom Lighting. Management confirmed the company continues to target 50% trade of relevant sales by 2028.
Trade momentum in focus
Total trade sales as a percentage of total relevant sales has reached 43.3%, tracking toward the stated goal of 50% by 2028.
This structural trade shift forms the core of the growth thesis presented to investors.
Strategic pillars and the 2030 store network vision
Management outlined four growth pillars: Stores, Trade, Ecommerce and Complementary Businesses. The detail beneath each pillar is summarised below.
Store network expansion
Beacon Lighting operated 129 company stores plus one franchised store at the end of FY2026. New and expanded locations included Auburn (NSW) and Millers Junction (VIC), the purchased St Kilda (VIC) franchise, a relocated and expanded Geelong (VIC) store, and an expanded McGraths Hill (NSW) store. The Springvale (VIC) store was closed.
The company developed 692 new products to support its core range of 3,500. It also reported 347 Accredited Lighting Design Consultants, 59 Design Studios and 4,360 lighting design consultations completed during the year.
Store network research identified potential for 217 Beacon Lighting stores nationally. The 2030 vision targets a position as Australia’s leading provider of quality lighting, fans and electrical accessories, serving homeowners and trade professionals with a balanced 50/50 sales mix.
Ecommerce growth
Online sales now account for 13.1% of total store sales. Online trade sales increased 16.5%, online trade visitation rose 20.2%, and online trade sales represented 14.9% of direct trade sales.
Management noted a major project is underway to migrate all 16 business websites to a new platform to enhance the customer experience.
Complementary businesses
Connected Lighting Solutions, the group’s street lighting business, grew sales by over 50% and secured a significant state-based contract to replace existing streetlights with new energy-efficient LED lighting. Beacon International delivered significantly improved profits following a year of restructuring and consolidation.
The company holds a 50% interest in the Large Format Property Fund, which owns nine retail properties. Investment income from the fund increased by more than 170%. The Auburn (NSW) property development was highlighted by the company as the Property Fund highlight.
Dividends and balance sheet strength
Beacon Lighting declared a fully franked dividend of 7.5 cents per share for FY2026, including a 3.4 cents per share fully franked dividend declared for H2 FY2026. The FY2026 payout ratio was 63.7% of NPAT, above the stated target range of 50% to 60%. The Dividend Reinvestment Plan (DRP) remains suspended.
On a statutory basis, the company reported net operating cash flow of $60.8M, capital expenditure of $12.2M and dividends paid of $16.3M. Cash and other financial assets stood at $54.2M, inventory was maintained at $101.0M, and net assets rose to $192.4M.
FY2027 outlook
Management framed the following forward guidance in the presentation, with the positive company store momentum from Q4 FY2026 continuing into the first eight weeks of FY2027. Key next steps include:
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New stores planned at Caloundra (QLD), Angle Vale (SA), Rockingham (WA), Everton Park (QLD) and Mornington (VIC)
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Refurbishments at Gepps Cross (SA) and Osborne Park (WA), an expansion at Castle Hill (NSW), and a relocation at Hervey Bay (QLD)
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Category expansion into key trade products to continue driving sales
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Launch of the new retail and trade websites on the new platform
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Delivery by Connected Lighting Solutions of energy-efficient LED streetlights under the state-based contract won in FY2026
The FY2026 result reinforces the structural trade-shift thesis at the heart of Beacon Lighting’s strategy, with trade sales now at 43.3% of relevant sales and a clear 2028 target of 50%. With store network research pointing to potential for 217 stores nationally, the company retains a defined runway for expansion as it progresses its 2030 vision.
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