Slide 1: Results Presentation
Results Presentation For the year ended 31 March 2022 17 May 2022
Slide 2: Disclaimer
Disclaimer This presentation does not constitute an invitation to underwrite, subscribe for or otherwise acquire or dispose of any shares or other securities of DCC plc (“DCC”). This presentation contains some forward-looking statements that represent DCC’s expectations for its business, based on cu
Slide 3: Agenda
Agenda Highlights of FY 2022 03 Business and financial review 07 Development review 13 Summary, outlook and Q&A 18 Appendix 22 2 DCC Results Presentation – 17 May 2022
Slide 4: Highlights – Year ended March 2022
Highlights Year ended 31 March 2022 Donal Murphy Chief Executive
Slide 5: FY 2022 highlights
FY 2022 highlights Excellent performance, delivering for stakeholders Another year of excellent + Adj. operating profit up 11.1% to £589.2m (15.1% constant currency) growth and development + Adj EPS up 11.2% (15.2% constant currency) + Dividend up 10.0% for full year Resilient & agile business model
Slide 6: DCC's purpose: Enabling our stakeholders to grow and progress
DCC’s purpose: Enabling our stakeholders to grow and progress Customers Employees Investors Communities Government & Suppliers & Environment & Regulators • Worked closely with • Responded to • Raised dividend • Continued to • Engaged with suppliers to ensure feedback from for full year by support a
Slide 7: Our Strategy
Our Strategy To continue to build a growing, sustainable and cash generative business which consistently provides returns on capital employed well in excess of its cost of capital. Building leading Investing for Driving long-term businesses growth sustainable value Our strategy informs how we enable
Slide 8: Business & financial review
Business & financial review Kevin Lucey Chief Financial Officer
Slide 9: Financial highlights
Financial highlights For the year ended 31 March 2022 £’m 2022 2021 % change Group adjusted operating profit1 589.2 530.2 +11.1% Adjusted EPS1 (pence) 430.1 386.6 +11.2% Free cash flow 382.6 687.8 Dividend per share (pence) 175.78 159.80 +10.0% Return on capital employed2 16.5% 17.1% Net (debt)/cash
Slide 10: Divisional results
Divisional results For the year ended 31 March 2022 By Division £’m 2022 2021 % change % change CC 14% LPG Adjusted operating profit1 40% Retail & Oil 17% DCC LPG 237.7 231.3 +2.8% +6.7% Healthcare Technology 29% DCC Retail & Oil 169.4 144.8 +17.0% +20.1% DCC Energy 407.1 376.1 +8.3% +11.9% By Geogr
Slide 11: Divisional highlights
Divisional highlights For the year ended 31 March 2022 • Strong operating profit growth +6.7%* • Significant increase and volatility in wholesale cost of product DCC LPG • Volumes +15.8% due to strong recovery in commercial and industrial demand • Excellent operating profit growth +20.1%* • Commerci
Slide 12: Excellent organic performance
Excellent organic performance For the year ended 31 March 2022 vs 5 year average organic £'m Adj operating profit +11.1% growth of 3.2% 650 630 610 590 +6.1% 570 589 +9.0% 550 530 530 510 -4.0% 490 470 450 FY21 PBIT Constant Currency Acquisition Organic FY22 PBIT 11 DCC Results Presentation – 17 May
Slide 13: Solid free cash flow, FY21 WC reversal
Solid free cash flow, FY21 WC reversal For the year ended 31 March 2022 FCF conversion 65% £'m 750 700 96% FCF% over two years 650 140 178 600 550 589 80 500 450 88 400 350 383 300 250 FY22 PBIT Depreciation Net Capex / Leasing Working Capital FY22 FCF 12 DCC Results Presentation – 17 May 2022
Slide 14: Development review
Development review Donal Murphy Chief Executive
Slide 15: Our priorities for capital deployment
Our priorities for capital deployment Our capital deployment priorities will deliver substantial growth and are aligned to the growth trends in our chosen sectors Organic development Acquisitions at ROCE well Our capital deployment priorities and investment ahead of WACC Scaling our DCC Health & Bea
Slide 16: Organic developments continue
Organic developments continue Innovating in DCC Building our energy Reducing our carbon Health & Beauty transition capability footprint • Adding manufacturing • Rolled out E85 biofuel • Solar panel installation capability in nutritional across c.60 sites on the on the Technology NDC gummies in Brita
Slide 17: Continued acquisition momentum
Continued acquisition momentum Almo - DCC’s largest Further expansion in Bolt-on acquisitions acquisition to date energy solutions across each division • One of the largest • Naturgy Ireland • Wörner integrated specialist Pro AV acquisition, supplier of during year - two businesses in the US renewab
Slide 18: Acquisition of Almo
Acquisition of Almo Another bilateral transaction, many years in the making • Integration well progressed, performing in line with expectations • Market leading value-added distributor of Pro AV, consumer appliances and electronics • Specialist approach and sales capability with embedded position in
Slide 19: Summary, outlook and Q&A
Summary, outlook and Q&A Donal Murphy Chief Executive
Slide 20: Investor Event Today: Leading with Energy
Investor Event Today: Leading with Energy DCC Energy DCC Energy DCC Group Growth opportunities in Insight into energy Growth ambition of the the energy sector transition pathways Group Leading our customers in DCC Energy teams, Capital priorities and energy transition customers and partners view to
Slide 21: Summary & outlook
Summary & outlook Excellent Significant Outlook performance acquisition activity DCC expects that the Profit growth across each Clear capital allocation year ending 31 March of our divisions priorities 2023 will be another year of profit growth and development, Demonstrates resilience Continued acqu
Slide 22: Strategy continues to deliver
Strategy continues to deliver 28 year CAGR1 28 year CAGR Adjusted operating profit (£m)1 Adjusted EPS (pence) 14.1% 11.8% 589 430 530 387 494 358 363 461 318 304 383 345 257 285 209 191 173 171 208 158 189 140 142 176 170 155 139 116 131 98 97 78 85 65 74 61 62 68 78 50 58 37 46 49 54 30 31 38 42 15
Slide 23: Appendix
Appendix > an
Slide 24: DCC LPG
DCC LPG 2022 2021 % change % change CC Volumes Volume (‘000 tonnes) 2,615.2 2,259.3 +15.8% Cont. Europe 12% Britain Operating profit (£’m) 237.7 231.3 +2.8% +6.7% RoW 14% Ireland 61% Operating profit per tonne £90.89 £102.36 13% ROCE 15.8% 17.4% Strong growth with significant increase in volumes • S
Slide 25: DCC Retail & Oil
DCC Retail & Oil 2022 2021 % change % change CC Volumes Volume (bn litres) 11.628 10.199 +14.0% Cont. Europe 9% Britain Operating profit (£’m) 169.4 144.8 +17.0% +20.1% Ireland 47% 44% Operating profit per litre 1.46ppl 1.42ppl ROCE 24.8% 19.2% Volume recovery and excellent operating performance • O
Slide 26: DCC Healthcare
DCC Healthcare 2022 2021 % change % change CC Revenue by business Revenue (£’m) 765.2 655.4 +16.8% +19.5% DCC Vital DCC H&BS Operating profit (£’m) 100.4 81.7 +22.9% +25.5% 47% 53% Operating margin 13.1% 12.5% ROCE 20.5% 18.7% Another excellent performance DCC Vital: • Excellent organic operating pr
Slide 27: DCC Technology
DCC Technology 2022 2021 % change % change CC Revenue by geography Revenue (£’bn) 4.644 4.483 +3.6% +6.4% UK&I 22% Cont. Operating profit (£’m) 81.7 72.4 +12.8% +19.9% Europe/RoW North 51% America Operating margin 1.8% 1.6% 27% ROCE 9.1%* 12.3% * The ROCE in DCC Technology reflects the acquisition i
Slide 28: Financial summary
Financial summary Volumes / Operating Operating Pt/ppl/% of Gross margin revenue costs profit sales change DCC LPG (tonnes) 2,615kT £264pt £452m £238m £91pt +15.8% vs £304pt £173pt; -1.0% +2.8% vs £102pt DCC Retail & Oil (litres) 11.6bn 5.73ppl £497m £169m 1.46ppl +14.0% vs 5.52ppl 4.28ppl; +19.0% +
Slide 29: Cash flow
Cash flow 2022 28 years £m £m Track record of Operating profit 589.2 5,318.1 FCF conversion (Increase)/decrease in working capital (168.7) 417.6 Depreciation and other 140.1 1.345.0 Free cash Operating cash flow 560.6 7,080.7 conversion of Net capex (170.8) (1,756.4) 96% across FY21 Lease payments n