Dcc Plc · LSE:DCC
Dcc — H1 FY2016 Earnings Presentation
15 slides from Dcc's earnings presentation, Nov 10, 2015
Slide 1: Interim Results
Interim Results for the six months ended 30 September 2015 10 November 2015
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: Highlights
Highlights For the six months ended 30 September 2015 • 26.1% growth in Group operating profit, driven by performances of DCC Energy and DCC Healthcare • Adjusted EPS increasing to 70.3 pence, up 18.5% • Interim dividend increased by 15.0% to 33.04 pence • Strong cash generation continues • Net cash
Slide 4: Highlights
Highlights For the six months ended 30 September 2015 • Completion of Butagaz (ahead of schedule) and Esso Retail France acquisitions – both performing well • Further bolt-on acquisitions in both DCC Technology and DCC Healthcare • Assuming normal winter weather conditions in the balance of the fina
Slide 5: Financial Summary
Financial Summary For the six months ended 30 September 2015 £’m 2015 20141 % change Revenue 5,066 5,425 -6.6% Operating profit2 88.4 70.1 +26.1% Profit before net exceptionals, 74.0 56.9 +30.0% amortisation of intangible assets & tax Adjusted EPS2 70.3 pence 59.3 pence +18.5% Dividend per share 33.
Slide 6: Business Overview: Divisional Results
Business Overview: Divisional Results For the six months ended 30 September 2015 £’m 2015 20141 % change Operating profit2 DCC Energy 52.9 31.9 +65.6% DCC Technology 8.6 15.2 -43.6% DCC Healthcare 18.4 15.9 +16.1% DCC Environmental 8.5 7.1 +20.0% Group operating profit2 88.4 70.1 +26.1% 1 Income Sta
Slide 7: Acquisitions & Capital Expenditure
Acquisitions & Capital Expenditure For the six months ended 30 September 2015 £’m Acquisitions Capex Total DCC Energy 3.5 23.6 27.1 DCC Technology 16.4 16.3 32.7 DCC Healthcare 20.5 4.6 25.1 DCC Environmental - 6.8 6.8 Total 40.4 51.3 91.7 6
Slide 8: DCC Energy
DCC Energy 2015 2014 % change Operating profit by sector: Volume (bn litres) 5.818 5.215 +11.6% LPG Revenue (£’bn) 3.660 4.077 -10.2% 35% Oil Operating profit (£’m) 52.9 31.9 +65.6% 40% Retail & • Excellent first half performance with strong organic growth Fuelcard and contribution from acquisitions
Slide 9: DCC Technology
DCC Technology 2015 2014 % change Revenue by business: Revenue (£’m) 1,089 1,038 +4.9% 8% Operating profit (£’m) 8.6 15.2 -43.6% UK&I 14% Operating margin 0.8% 1.5% Cont. Europe Supply Chain • Significant decline in profitability due to weak 78% performance of UK business • UK continued to be impact
Slide 10: DCC Healthcare
DCC Healthcare 2015 2014 % change Revenue by business: Revenue (£’m) 239.1 236.9 +0.9% Operating profit (£’m) 18.4 15.9 +16.1% DCC Vital 32% Operating margin 7.7% 6.7% DCC H&BS • Continued very strong profit growth in the first half 68% DCC Vital • Good performance in pharma, particularly in hospita
Slide 11: DCC Environmental
DCC Environmental 2015 2014 % change Revenue Split: Revenue (£’m) 78.3 73.6 +6.5% Operating profit (£’m) 8.5 7.1 +20.0% Non- hazardous Operating margin 10.8% 9.6% 40% Hazardous 60% • Very strong performance in the first half with operating profit increasing by 20.0% to £8.5 million • Business contin
Slide 12: Group Income Statement
Group Income Statement 2015 2015 2015 Operating Revenue Change Gross Margin Change Costs DCC Energy £3,659m -10.2% 4.55ppl +0.35 £212m Group excl. DCC Energy £1,407m +4.3% 11.6% -0.3% £127m Total £5,066m -6.6% £339m • Energy volumes up 11.6% (0.5% organically), average selling prices down 19.6% due
Slide 13: Income Statement/Operating Cash Flow
Income Statement/Operating Cash Flow 2015 2014 change % change Operating profit (£’m) 88.4 70.1 18.3 +26.1% Finance costs etc. (£’m) (14.4) (13.2) (1.2) Profit before net exceptionals, amortisation of intangible assets 17.1 +30.0% and tax (£’m) 74.0 56.9 Effective tax rate 16% 13% Operating cash flo
Slide 14: DCC's Strategy
DCC’s Strategy Our Objective: Our strategic priorities: • Creating and sustaining leading positions in each of the To continue to build markets in which we operate a growing, sustainable • Continuously benchmarking and improving the efficiency and cash generative of our operating model in each of ou
Slide 15: Track Record of Consistent Growth
Track Record of Consistent Growth Operating profit (£m) 208 228 EPS (pence) 209.2 196 191.2 187 21 year CAGR 171 21 year CAGR 173.1 171.2 13.2% 149 161 12.2% 139.7 157.9 142.0 117 115.9 95 97.5 82 84.5 71 75 73.6 78.4 62 64.9 56 58.3 51 50.4 43 41.9 36 32.3 37.7 24 29 25.9 29.9 17 19 22 18.8 22.1 19