Dcc Plc · LSE:DCC
Dcc — FY2025 Earnings Presentation
60 slides from Dcc's earnings presentation, May 13, 2025
Slide 1: Invested in Energy: Market Update and Results Presentation
pla a INVESTED IN ENERGY. MARKET UPDATE AND RESULTS PRESENTATION 13 MAY 2025
Slide 2: Disclaimer
MARKET UPDATE AND RESULTS PRESENTATION 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 ple ("DCC"). + This presentation contains some forward-looking statements that represent DCC's
Slide 3: Index
DCC INDEX Key Messages Strategic Progress FY25 Performance Our Opportunity in Energy Our Financial Framework Outlook, Summary and Q&A Appendix
Slide 4: Key Messages
Donal Murphy KEY MESSAGES
Slide 5: Key Messages From Today's Presentation
KEY MESSAGES FROM TODAY'S PRESENTATION STRATEGIC PROGRESS: Simplifying Group and capital return to shareholders PERFORMANCE: Another strong year of profit growth in Energy OUR OPPORTUNITY IN ENERGY: Leadership positions and sustainable profit growth FINANCIAL FRAMEWORK: Growth, ROCE and shareholder
Slide 6: Strategic Progress
02 Donal Murphy STRATEGIC PROGRESS
Slide 7: Significant Strategic Progress Since November 2024
STRATEGIC PROGRESS SIGNIFICANT STRATEGIC PROGRESS SINCE NOVEMBER 2024 1. Agreed Healthcare sale for EV of £1,050m; net cash proceeds £945m OUR GROUP TODAY EBITA, £’m 13% Technology 2. Technology strategic review to progress over next 18 months 3. Leadership in place to grow a Discontinued single-sec
Slide 8: Sale of DCC Healthcare
STRATEGIC PROGRESS 13 MAY 2025 DCC ~IZz SALE OF DCC HEALTHCARE Agreed sale of DCC Healthcare announced in April: definitive agreement with Investindustrial Total enterprise value (EV) of £1,050 million on a cash-free, debt-free basis EV/EBITA of c.12.2x FY25 EBITA Total expected net cash considerati
Slide 9: Value Maximisation Plan for DCC Technology
DCC VALUE MAXIMISATION PLAN FOR DCC TECHNOLOGY OVER THE NEXT 18 MONTHS DCC Technology progress and strategic review + New North American leadership established * Our operational efficiency programme in North America is in place and tracking as expected * Info Tech streamlining is underway: we have e
Slide 10: Capital Return: 16% of Market Capitalisation
STRATEGIC PROGRESS 13 MAY 2025 DCC ~~ CAPITAL RETURN: 16%* OF MARKET CAPITALISATION AS A RESULT OF HEALTHCARE SALE ~== Sale of DCC Healthcare enables total capital return of £800 million: * £100 million in on-market buyback commencing shortly * Intend to return £600 million in single event post comp
Slide 11: Performance
03 ; io Kevin Lucey & Conor Murphy "a = ahh: aN ; PERFORMANCE a
Slide 12: FY25 Financial Highlights
OUR FY25 PERFORMANCE 13 MAY 2025 DCC ~Z FINANCIAL HIGHLIGHTS FOR THE YEAR ENDED 31 MARCH 2025 Sti ents eer change change ce Revenue (billion) — continuing! 18.0 18.9 4.5% -2.7% Group adjusted operating profit?— continuing! 617.5 600.2 42.9% +4.8% Group adjusted operating profit? 703.6 682.8 +3.0% 44
Slide 13: EBITA from continuing and discontinued operations
EBITA from continuing operations EBITA from discontinued operations
Slide 14: Divisional Results
OUR FY25 PERFORMANCE DIVISIONAL RESULTS FOR THE YEAR ENDED 31 MARCH 2025 Restated! % % 2025 2024 ge change CC Adjusted operating profit DCC Energy 535.5 503.0 -+6.5% 48.5% DCC Technology 82.0 97.2 -15.7% -14.2% Continuing 67.5 600.2 #2.9% +4.8% operations! Discontinued 86.1 82.6 +4.2% +5.5% operatio
Slide 15: DCC Technology Performance Summary
OUR FY25 PERFORMANCE 13 MAY 2025 DCC ~ DCC TECHNOLOGY PERFORMANCE SUMMARY Pro Tech remains robust, strategic initiatives underway % % DCC Technology — continuing! 2025 20241 change change CC * Revenue increased 0.3% (1.7% cc). Driven by revenue growth in Pro Tech. Revenue (£'bn) 4.645, 4.629 +0.3% 4
Slide 16: DCC Energy Performance Summary
OUR FY25 PERFORMANCE DCC ENERGY PERFORMANCE SUMMARY Strong profit and strategic growth * Operating profit up 6.5%, (8.5% cc). * Organic growth of 1.8%, following very strong prior year performance. + ROCE in line with prior year. * Carbon intensity of our profits continued to improve and reduced by
Slide 17: DCC Energy Performance Summary: Solutions and Mobility
OUR FY25 PERFORMANCE DCC ENERGY PERFORMANCE SUMMARY Solutions: * Solutions delivered strong growth of 7.4%, (9.5% cc) driven by M&A activity, net of Hong Kong disposal. * Organic growth 0.7%, led by excellent organic growth in France from both energy products and energy services. * Continental Europ
Slide 18: Opportunity in Energy
Donal Murphy OPPORTUNITY SG IN ENERGY | | wv’ / wewise i ty art ne te
Slide 19: DCC is a unique energy business with big ambition
OUR OPPORTUNITY IN ENERGY OUR OPPORTUNITY IN ENERGY DCC is a unique energy business with big ambition DCC will be a global leader in the sales, marketing and distribution of energy products and services “= Our aim is to be swam We have a 50-year the best customer heritage in energy company in the ma
Slide 20: Our Strategy
OUR OPPORTUNITY IN ENERGY OUR STRATEGY 13 MAY 2025 DCC ~~ Provide energy that is secure, cleaner and competitive to drive growth and returns O01» How we do it GROW CUSTOMERS Being the provider of choice for essential energy products SELL MORE SERVICES To our energy customers 02° Why we win No.1 or N
Slide 21: Five Decades of Growth
DCC Energy EBITA, £'m OUR OPPORTUNITY IN ENERGY 13 MAY 2025 DCC ~Zn Reaching 10 million energy customers, delivering high returns and turning profits into cash FIVE DECADES OF GROWTH 1977 1984 al, DCC's first Energy Entry into the acquisition: Flogas, an Irish liquid gas business 0.1 UK liquid gas m
Slide 22: What We Do
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 DCC ~Z WHAT WE DO DCC is a customer-focused business in energy sales, marketing and distribution. We have leading market positions in 12 countries. We operate two businesses: Solutions and Mobility. SOLUTIONS: 77% EBITA MOBILITY: 23% EBITA ENERGY PRODUCTS: 68% E
Slide 23: Cleaner Energy in Your Power Strategy for Solutions
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 DCC ~Z HOW WE DRIVE OUR CLEANER ENERGY IN YOUR POWER STRATEGY FOR SOLUTIONS (n.) Become the provider of choice for secure, cleaner and competitive energy solutions Energy Products (68% share of EBITA) e Grow customer numbers Grow our drop-in premium biofuels Be
Slide 24: Energy Products: How We Serve Our Customers
OUR OPPORTUNITY IN ENERGY ENERGY PRODUCTS: HOW WE SERVE OUR CUSTOMERS Most of DCC’s liquid gas and fuel customers are in rural areas, not connected to the gas grid. 13 MAY 2025 DCC ~Z=z EQ To complement liquid gas ENERGY PRODUCTS and fuel sales, we also sell SHARE OF DCC EBITA solar power solutions
Slide 25: Energy Services: How We Serve Our Customers
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 DCC ~z= ENERGY SERVICES: HOW WE SERVE OUR CUSTOMERS (o) ENERGY SERVICES SHARE OF DCC EBITA We offer smart energy management solutions to help optimise energy By selling solar usage and reduce costs. power to customers with lower-intensity q energy needs, we (Our
Slide 26: Cleaner Energy in Your Power Strategy for Mobility
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 DCC 26 HOW WE DRIVE OUR CLEANER ENERGY IN YOUR POWER STRATEGY FOR MOBILITY (23) To grow our secure, cleaner and competitive energy for service station, fleet payment, digital parking and telematic customers MOBILITY SHARE OF DCC EBITA Mobility (23% share of EBIT
Slide 27: Mobility: How We Serve Our Customers
OUR OPPORTUNITY IN ENERGY MOBILITY: HOW WE SERVE OUR CUSTOMERS Service stations Fleet services 13 MAY 2025 DCC a oy) Over the next decade we'll enhance about one-third of our service stations with electric vehicle charging, convenience retail and biofuel, while we maximise fuel contribution from the
Slide 28: Scale M&A Growth Opportunity in Energy Products
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 DCC ~=m WHY ENERGY IS ATTRACTIVE: SCALE M&A GROWTH OPPORTUNITY IN ENERGY PRODUCTS Grow liquid gas share in selected European markets and in the US OUR SCALE OPPORTUNITY IN OTHER EUROPEAN AND US LIQUID GAS MARKETS Why we like liquid gas: 01. We drive value as we
Slide 29: Organic and M&A Opportunity in Energy Services
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 DCC ~Zz WHY ENERGY IS ATTRACTIVE: SCALE ORGANIC AND M&A OPPORTUNITY IN ENERGY SERVICES Consolidate fast-growing commercial and industrial solar power self-generation in Europe OUR SCALE OPPORTUNITY Why we like solar electric power IN OTHER EUROPEAN ie aan ENERGY
Slide 30: Growth Potential From Strong Base
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 DCC ~Z WHY ENERGY IS ATTRACTIVE: GROWTH POTENTIAL FROM STRONG BASE Growth opportunity Growth opportunity Growth opportunity Where we play Energy Products Energy Services Mobility: Fleet services » France # UK < ° 5 © Ireland oe © © @ Germany © © O = Austria o ©
Slide 31: New Leadership Team
DCcc NEW LEADERSHIP TEAM: ALIGNED WITH SINGLE SECTOR STRATEGY EXECUTIVE DIRECTORS Donal Murphy" Kevin Lucey” Conor Murphy* f f Financial Officer, Cl Fin ial Offi oming) BUSINESS LEADERS FUNCTIONAL LEADERS Matt Andrew Christian Darragh Yvonne Nicola Dantinne Graham Heise Byrne* Holmes* — McCracken* M
Slide 32: Our Financial Framework
Kevin Lucey OUR FINANCIAL FRAMEWORK
Slide 33: Our Energy Business Has Excellent Financial Characteristics
OUR ENERGY BUSINESS HAS EXCELLENT FINANCIAL CHARACTERISTICS GROWTH THROUGH-THE-CYCLE: Our products and services are essential ORGANIC GROWTH: Focus on market share, efficiency and growth in services or renewable/bio products EXCELLENT RETURNS ON CAPITAL: Loyal customers, scale and business model HIG
Slide 34: Proven Record in Energy
FINANCIAL FRAMEWORK AND OUR STRATEGY DELIVERS: WE HAVE A PROVEN RECORD IN ENERGY Sustainable profit growth at attractive returns FY25 ROCE: DCC Energy 18.5% 17.9% 17.7% 18.4% 18.1% 18.6% 19.0% 18.7% 18.5% 5.9% FYI5 FY16 FY17 FY18 FY19 FY20 FY21 FY22 FY23 FY24 FY25 mmDCC Energy EBITA £m —DCC Energy R
Slide 35: DCC: Key Financial Metrics
FINANCIAL FRAMEWORK 13 MAY 2025 DCC ~zE DCC: KEY FINANCIAL METRICS Focus throughout DCC on organic profit growth, cash flow conversion and ROCE Value drivers for energy include customer metrics, gross margin conversion and carbon intensity SOLUTIONS: 77% EBITA MOBILITY: 23% EBITA : ENERGY PRODUCTS:
Slide 36: Performance by Business Area
FINANCIAL FRAMEWORK 13 MAY 2025 DCC ~z PERFORMANCE BY BUSINESS AREA Total EBITA of £535.5m in FY25 SOLUTIONS MOBILITY £4611.8m: 77% sont £123.7m: 23% prot ENERGY PRODUCTS 2025 2024 % change Volume (bn litre equivalent) 10.9 10.7 42.3% 43 45 -5.1% Revenue (£'m) (non-volume sales) 336.4 170.8 +96.9% G
Slide 37: Solutions: Organic Growth and Margin History
FINANCIAL FRAMEWORK SOLUTIONS: Organic growth and margin history 13 MAY 2025 DCC SOLUTIONS: 77% EBITA ENERGY PRODUCTS: 68% EBITA PRODUCTS EBITA £'M AND ANNUAL ORGANIC GROWTH % SERVICES EBITA £'M AND ANNUAL ORGANIC GROWTH % 279 255 a 220 155 | e | ‘iiiiiiii FY16 FYI7 FY18 FYI9 = FY200—FY21 FY22. FY23
Slide 38: Mobility: Organic Growth and Margin History
FINANCIAL FRAMEWORK 13 MAY 2025 DCC MOBILITY: Organic growth and margin history MOBILITY EBITA £'M AND ANNUAL ORGANIC GROWTH % _ 22 120 ©=—24 101 90 | 81 61 50 59 eooeoeoeooeoe9eoeod eo OO O&O FYI6 FYI7) «FYIB. SO FYI9.--FY20.-FY21=FY220«FY23—FY246 0 FY25 Absobte ETA © crooriconustt8TA gown en 10-ye
Slide 39: On Track to Deliver 2030 Ambition of c.£830m EBITA
FINANCIAL FRAMEWORK 13 MAY 2025 DCC ~= ON TRACK TO DELIVER OUR 2030 AMBITION OF c.£830m EBITA — MORE THAN 2X FY22 EBITA BRIDGE (FY22A-FY30), £M") 10.3% ccy EBITA CAGR with 5.7% average organic growth +«--- 536 ---> Organic growth c.125 29 8-10% 2-4% P| ¢.175 ¢.830 FY22A FY23-25A Energy Products Ener
Slide 40: 3% to 4% Organic EBITA Growth in Energy
FINANCIAL FRAMEWORK 13 MAY 2025 WE AIM TO DELIVER 3% TO 4% ORGANIC EBITA GROWTH ON AVERAGE IN ENERGY Drive organic growth through customer growth, efficiency and services Solutions: Energy Products VOLUMES: + MARGIN PER LITRE: 2% to 4% EBITA -1% to +2% +1% to +3% — organic growth Solutions: Energy S
Slide 41: 6% to 8% M&A Growth
DCC WE AIM TO DELIVER 6% TO 8% M&A GROWTH UTILISING OUR EXCELLENT M&A CAPABILITY c. 400 transactions since going public at high teen returns; Continue to build our pipeline Development plan in line with energy strategy Optionality across energy area depending on ROCE and probability of delivery Recy
Slide 42: Our Capital Allocation Framework
FINANCIAL FRAMEWORK 13 MAY 2025 DCC ~Zz OUR CAPITAL ALLOCATION FRAMEWORK Sharpening our focus on self-funded development and shareholder returns ORDINARY DIVIDENDS | Progressive approach, payout c.40% of earnings INVEST IN BUSINESS Capex 1.0x - 1.4x capex : depreciation p.a. Investment-grade credit
Slide 43: Outlook, Summary and Q&A
06 OUTLOOK, SUMMARY AND Q&A
Slide 44: Why Invest in DCC?
13 MAY 2025 OUTLOOK, SUMMARY AND Q&A WHY INVEST IN DCC? Growing demand: customers need secure, cleaner and competitive energy compounder: opportunities in new and exi markets 400 acqui: at high returns RETURNS Strong balance sheet and cash generation: self- GROWTH Strong operators funded double- dig
Slide 45: Outlook and Summary
OUTLOOK, SUMMARY AND Q&A OUTLOOK FY26 ~—= DCC expects that the year ending 31 March 2026 will be a year of good operating profit growth on a continuing basis, strategic progress and continued development activity. 13 MAY 2025 DCC ~Z TO SUMMARISE Strategic progress & material shareholder return Excel
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Slide 47: Appendix
APPENDIX
Slide 48: Appendix Contents
DCC APPENDIX Additional Financial Information Sustainability and Carbon Intensity Energy: ‘Right to Win’
Slide 49: Business Model Continues to Deliver
APPENDIX 13 MAY 2025 DCC ~z=z BUSINESS MODEL CONTINUES TO DELIVER 31-YEAR CASHFLOW, FY25 CASHFLOW 20: 31 Years Metric £m £m Operating profit 703.6 7,360.1 13% 31 Year CAGR (Increase)/decrease in working capital (93.7) 366.5 Capex investment > depreciation (21.1) (582.6) 1.0x Capex : Depreciation Fre
Slide 50: Financial Summary: Half Year Splits
APPENDIX 13 MAY 2025 DCC ~Z FINANCIAL SUMMARY — HALF YEAR SPLITS FOR THE YEAR ENDED 31 MARCH 2025 % change Adj. Operating H2 Profit! % DCC Energy 182.7 352.8 535.5 170.6 332.4 503.0 +7.0% +6.2% +6.5% DCC Technology 38.5 43.5 82.0 413 55.9 97.2 -6.8% -22.3% -15.7% Group - continuing 221.2 396.3 617.5
Slide 51: Net Exceptional Charge (Including Impairments)
APPENDIX 13 MAY 2025 DCC ~Zn NET EXCEPTIONAL CHARGE (INCLUDING IMPAIRMENTS) FOR THE YEAR ENDED 31 MARCH 2025 Impairment of goodwill: - Anon-cash goodwill impairment has been recognised in respect of the UK component of DCC Technology's Restructuring and integration costs and other (37.0) Info Tech s
Slide 52: Summary of Gross Debt
APPENDIX 13 MAY 2025 DCC ~Zz SUMMARY OF GROSS DEBT FOR THE YEAR ENDED 31 MARCH 2025 FY25 FY25 At 31 March 25 At 31 March 25 Average O/S Average rate 0/s Average rate Unsecured Notes fixed net! 4.90% £1.44bn 4.87% Unsecured Notes floating net? 5.67% £0.48bn 4.94% Total Unsecured Notes? £1.87bn 5.13%
Slide 53: Key Financial Metrics: Pro-forma
APPENDIX KEY FINANCIAL METRICS: PRO-FORMA Reflecting sale of DCC Healthcare and intended capital return 2025 £'m 2025 Pro-forma EBITDA 870.1 767.6 EBITA 703.6 617.5 Net debt at 31 March (excl. lease creditors) 795.9 650.9 Net debt / EBITDA 0.91 times 0.85 times + Assumes net cash proceeds in total o
Slide 54: Other Financial Considerations
APPENDIX 13 MAY 2025 DCC ~Z=z OTHER FINANCIAL CONSIDERATIONS REGARDING FY26 OUTLOOK (AS AT 13 MAY 2025) FX translation adj. operating profit c.-0.5% Net finance costs c.£100m Effective tax rate c.20.5% Non-controlling interest c.£15m Number of shares outstanding 98,966,179" + Number of shares outsta
Slide 55: Energy Services to SRO EBITA Bridge
APPENDIX 13 MAY 2025 DCC ~Z=z ENERGY SERVICES TO SERVICES, RENEWABLE AND OTHER (SRO) EBITA BRIDGE FY25, £M Included within Mobility 12.9 60.7 a Included within Energy Products 53.9 22.0 os Energy Services Renewable power/PPA Lubricants, refrigerants, Fleet, card and Renewable and SRO aerosols and ot
Slide 56: DCC Energy Operating Profit by Carbon Intensity
APPENDIX 13 MAY 2025 DCC ~Zz DCC ENERGY For reference: FY25 split of operating profit mix by carbon intensity DCC ENERGY SOLUTIONS MOBILITY 51% 49% “Wl Services, Renewables “GE Traditional “ll. Lower Carbon and Other (SRO) (>65kgCO,e/GJ)! (s65kgCO,e/GJ)! (s10kgCO,e/GJ)! 1Cartoon intensity value is f
Slide 57: Sustainability Targets and Progress
APPENDIX SUSTAINABILITY TARGETS AND PROGRESS FOR THE YEAR ENDED 31 MARCH 2025 13 MAY 2025 DCC STRATEGIC PRIORITIES 2030 TARGETS 2025 2024 % CHANGE VS BASELINE CLIMATE CHANGE 50% reduction 65 68 -4.4% -48% reduction since Scope 1 & 2 GHG emissions 2019 baseline (ktCO,e Group) 35% reduction 37.9 38.9
Slide 58: Energy Products: Our Customers and Right to Win
APPENDIX 13 MAY 2025 DCC ~Z=z ENERGY PRODUCTS: OUR CUSTOMERS AND RIGHT TO WIN 68% ENERGY PRODUCTS SHARE OF DCC EBITA OUR CUSTOMERS OUR PROGRESS OUR RIGHT TO WIN We sell and distribute liquid gas and other fuel EBITA ORGANIC GROWTH We maximise margin per litre in a market that has seen products to co
Slide 59: Energy Services: Our Customers and Right to Win
APPENDIX 13 MAY 2025 DCC ~Z=z ENERGY SERVICES: OUR CUSTOMERS AND RIGHT TO WIN ENERGY SERVICES SHARE OF DCC EBITA. OUR CUSTOMERS OUR PROGRESS OUR RIGHT TO WIN Our energy services cater to less intense EBITA ORGANIC GROWTH We drive revenue growth and maximise % margin: energy needs. They complement ou
Slide 60: Mobility: Our Customers and Right to Win
APPENDIX MOBILITY: OUR CUSTOMERS AND RIGHT TO WIN OUR CUSTOMERS We sell fuel, EV charging and retail goods to customers at service stations. And we're expanding our fleet payment, digital parking and telematic solutions. 100 MILLION SERVICE STATION CUSTOMER TRANSACTIONS A YEAR ACROSS FUEL, EV CHARGI