Slide 1: Invested in Energy: Market Update and Results Presentation
INVESTED IN ENERGY MARKET UPDATE AND RESULTS PRESENTATION 13 MAY 2025
Slide 2: Disclaimer
MARKET UPDATE AND RESULTS PRESENTATION 13 MAY 2025 2 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 r
Slide 3: Index
MARKET UPDATE AND RESULTS PRESENTATION 13 MAY 2025 3 INDEX 01. Key Messages 02. Strategic Progress 03. FY25 Performance 04. Our Opportunity in Energy 05. Our Financial Framework 06. Outlook, Summary and Q&A 07. Appendix
Slide 4: Key Messages
MARKET UPDATE AND RESULTS PRESENTATION 13 MAY 2025 Donal Murphy KEY MESSAGES
Slide 5: Key messages from today's presentation
KEY MESSAGES 13 MAY 2025 5 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: Gr
Slide 6: Strategic Progress
MARKET UPDATE AND RESULTS PRESENTATION 13 MAY 2025 Donal Murphy STRATEGIC PROGRESS
Slide 7: Significant strategic progress since November 2024
STRATEGIC PROGRESS 13 MAY 2025 7 SIGNIFICANT STRATEGIC PROGRESS SINCE NOVEMBER 2024 1. Agreed Healthcare sale for EV of OUR GROUP TODAY SIMPLIFYING TO ENERGY ONLY £1,050m; net cash proceeds £945m EBITA, £’m EBITA, £’m 13% 2. Technology strategic review to Technology progress over next 18 months 23%
Slide 8: Sale of DCC Healthcare
STRATEGIC PROGRESS 13 MAY 2025 8 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 consideration of c
Slide 9: Value maximisation plan for DCC Technology over the next 18 months
STRATEGIC PROGRESS 13 MAY 2025 9 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 stream
Slide 10: Capital return: 16% of market capitalisation from Healthcare sale
STRATEGIC PROGRESS 13 MAY 2025 10 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 completion o
Slide 11: FY25 Performance
MARKET UPDATE AND RESULTS PRESENTATION 13 MAY 2025 Kevin Lucey & Conor Murphy FY25 PERFORMANCE
Slide 12: Financial highlights for the year ended 31 March 2025
OUR FY25 PERFORMANCE 13 MAY 2025 12 FINANCIAL HIGHLIGHTS FOR THE YEAR ENDED 31 MARCH 2025 % % £’m 2025 2024 change change CC Revenue (billion) – continuing1 18.0 18.9 -4.5% -2.7% Group adjusted operating profit2– continuing1 617.5 600.2 +2.9% +4.8% Group adjusted operating profit2 703.6 682.8 +3.0%
Slide 13: Adjusted operating profit bridge FY24 to FY25 and free cash flow
OUR FY25 PERFORMANCE 13 MAY 2025 13 ADJUSTED OPERATING PROFIT BRIDGE FY24 TO FY25 AND FREE CASH FLOW GENERATION FOR THE YEAR ENDED 31 MARCH 2025 84% Free Cash Flow Conversion £'m 800 167 188 +5.9% -1.1% +0.5% 704 700 683 -1.9% 83 86 89 600 618 600 589 500 400 300 200 100 0 FY24 EBITA FX Translation
Slide 14: Divisional results for the year ended 31 March 2025
OUR FY25 PERFORMANCE 13 MAY 2025 14 DIVISIONAL RESULTS FOR THE YEAR ENDED 31 MARCH 2025 Restated1 % % Adjusted Operating £’m 2025 2024 change change CC Profit by Division1 DCC Technology 13% Adjusted operating profit DCC Energy 535.5 503.0 +6.5% +8.5% 87% DCC Technology 82.0 97.2 -15.7% -14.2% DCC E
Slide 15: DCC Technology performance summary
OUR FY25 PERFORMANCE 13 MAY 2025 15 DCC TECHNOLOGY PERFORMANCE SUMMARY Pro Tech remains robust, strategic initiatives underway % % DCC Technology – continuing1 2025 20241 change change CC • Revenue increased 0.3% (1.7% cc). Driven by revenue Revenue (£’bn) 4.645 4.629 +0.3% +1.7% growth in Pro Tech.
Slide 16: DCC Energy performance summary
OUR FY25 PERFORMANCE 13 MAY 2025 16 DCC ENERGY PERFORMANCE SUMMARY Strong profit and strategic growth % DCC Energy 2025 2024 % change change CC • Operating profit up 6.5%, (8.5% cc). Gross profit (£’m) 1,850 1,757 +5.3% +7.4% Operating profit (£’m) 535.5 503.0 +6.5% +8.5% • Organic growth of 1.8%, f
Slide 17: DCC Energy performance summary: Solutions and Mobility
OUR FY25 PERFORMANCE 13 MAY 2025 17 DCC ENERGY PERFORMANCE SUMMARY Solutions: % Solutions 2025 2024 % change change CC • Solutions delivered strong growth of 7.4%, (9.5% cc) driven Volumes (billion litre equivalent) 10.9bn 10.7bn +2.3% by M&A activity, net of Hong Kong disposal. Gross profit (£’m) 1
Slide 18: Our Opportunity in Energy
MARKET UPDATE AND RESULTS PRESENTATION 13 MAY 2025 Donal Murphy OUR OPPORTUNITY IN ENERGY
Slide 19: DCC is a unique energy business with big ambition
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 19 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 We provide energy that is: energy products and services 01. Secure Our aim is to be the We have a 50-year best
Slide 20: Our strategy
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 20 OUR STRATEGY Provide energy that is secure, cleaner and competitive to drive growth and returns 01 GROW CUSTOMERS Being the provider of choice for SELL MORE SERVICES To our energy customers How we do it essential energy products 02 No.1 or No.2 in most 10 yea
Slide 21: Five decades of growth
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 21 FIVE DECADES OF GROWTH Reaching 10 million energy customers, delivering high returns and turning profits into cash 1977 1984 2009 2018 2022 2025 2030 DCC’s first Energy Entry into the Expansion into Entry into the Launched new Strategic plan 2030 ambition acq
Slide 22: What we do
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 22 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% EBITA
Slide 23: Cleaner Energy in Your Power strategy for Solutions
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 23 HOW WE DRIVE OUR CLEANER ENERGY IN YOUR POWER STRATEGY FOR SOLUTIONS 77% Become the provider of choice for secure, cleaner and competitive energy solutions SOLUTIONS SHARE OF DCC EBITA Energy Products (68% share of EBITA) Energy Services (9% share of EBITA) G
Slide 24: Energy Products: how we serve our customers
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 24 ENERGY PRODUCTS: HOW WE SERVE OUR CUSTOMERS 68% Most of DCC’s liquid gas and fuel customers are in rural areas, not connected to the gas grid. ENERGY PRODUCTS SHARE OF DCC EBITA SOLUTIONS
Slide 25: Energy Services: how we serve our customers
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 25 ENERGY SERVICES: HOW WE SERVE OUR CUSTOMERS 9% ENERGY SERVICES SHARE OF DCC EBITA SOLUTIONS
Slide 26: Cleaner Energy in Your Power strategy for Mobility
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 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 EBITA) Se
Slide 27: Mobility: how we serve our customers
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 27 MOBILITY: HOW WE SERVE OUR CUSTOMERS 23% Service stations Fleet services MOBILITY SHARE OF DCC EBITA MOBILITY
Slide 28: Why energy is attractive: scale M&A growth opportunity in Energy Products
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 28 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 creat
Slide 29: Why energy is attractive: organic and M&A opportunity in Energy Services
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 29 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 ENERGY SERVICES se
Slide 30: Why energy is attractive: growth potential from strong base
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 30 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 Ireland Germany Austria Nordics Benelux NOT A CURRENT FOCUS U
Slide 31: New leadership team: aligned with single sector strategy
OUR OPPORTUNITY IN ENERGY 13 MAY 2025 31 NEW LEADERSHIP TEAM: ALIGNED WITH SINGLE SECTOR STRATEGY EXECUTIVE DIRECTORS Donal Murphy* Kevin Lucey* Conor Murphy* Chief Executive Chief Financial Officer, Chief Financial Officer Chief Operating Officer (DCC Energy), (incoming) Chief Financial Officer (in
Slide 32: Our Financial Framework
MARKET UPDATE AND RESULTS PRESENTATION 13 MAY 2025 Kevin Lucey OUR FINANCIAL FRAMEWORK
Slide 33: Our Energy business has excellent financial characteristics
FINANCIAL FRAMEWORK 13 MAY 2025 33 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 cust
Slide 34: Our strategy delivers: proven record in energy
FINANCIAL FRAMEWORK 13 MAY 2025 34 AND OUR STRATEGY DELIVERS: WE HAVE A PROVEN RECORD IN ENERGY Sustainable profit growth at attractive returns 19.0% 10YR AVERAGE FY25 ROCE: DCC Energy 18.5%40.0% ROCE 19.8% 21.0% 21.6% 17.9% 18.4% 18.6% 19.0% 18.7% 18.5% 30.0% 5.8% 18.1% 10YR AVERAGE 17.7% 20.0% 19.
Slide 35: DCC: key financial metrics
FINANCIAL FRAMEWORK 13 MAY 2025 35 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: 68% EBI
Slide 36: Performance by business area
FINANCIAL FRAMEWORK 13 MAY 2025 36 PERFORMANCE BY BUSINESS AREA Total EBITA of £535.5m in FY25 SOLUTIONS MOBILITY Operating Operating £411.8m: 77% profit £123.7m: 23% profit SERVICE STATIONS ENERGY PRODUCTS ENERGY SERVICES AND FLEET SERVICES 2025 2024 % change 2025 2024 % change 2025 2024 % change V
Slide 37: Solutions: organic growth and margin history
FINANCIAL FRAMEWORK 13 MAY 2025 37 SOLUTIONS: Organic growth and margin history SOLUTIONS: 77% EBITA ENERGY PRODUCTS: 68% EBITA ENERGY SERVICES: 9% EBITA PRODUCTS EBITA £’M AND ANNUAL ORGANIC GROWTH % SERVICES EBITA £’M AND ANNUAL ORGANIC GROWTH % 358 364 48 5% 328 301 279 280 255 220 25 196 155 100
Slide 38: Mobility: organic growth and margin history
FINANCIAL FRAMEWORK 13 MAY 2025 38 MOBILITY: Organic growth and margin history MOBILITY: 23% EBITA MOBILITY EBITA £’M AND ANNUAL ORGANIC GROWTH % 5% 122 124 120 96 101 90 81 59 61 50 16% 3% 4% 5% 4% -6% 4% 18% -1% 5% FY 16 FY 17 FY 18 FY 19 FY 20 FY 21 FY 22 FY 23 FY 24 FY 25 Absolute EBITA £’m % Or
Slide 39: On track to deliver 2030 ambition of c.£830m EBITA
FINANCIAL FRAMEWORK 13 MAY 2025 39 ON TRACK TO DELIVER OUR 2030 AMBITION OF c.£830m EBITA – MORE THAN 2X FY22 EBITA BRIDGE (FY22A-FY30), £M(1) 10.3% ccy EBITA CAGR with 5.7% average organic growth Organic growth c.125 c.175 c.830 536 8-10% 2-4% 2-4% 129 407 FY22A FY23-25A Energy Products Energy Serv
Slide 40: Aim to deliver 3% to 4% organic EBITA growth in Energy
FINANCIAL FRAMEWORK 13 MAY 2025 40 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: -1% to +2% + MARGIN PER LITRE: +1% to +3% = 2% to 4% EBITA organic growth Solutions: Energ
Slide 41: Aim to deliver 6% to 8% M&A growth
FINANCIAL FRAMEWORK 13 MAY 2025 41 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 RO
Slide 42: Our capital allocation framework
FINANCIAL FRAMEWORK 13 MAY 2025 42 OUR CAPITAL ALLOCATION FRAMEWORK Sharpening our focus on self-funded development and shareholder returns 1 2 INVEST IN BUSINESS ORDINARY DIVIDENDS Capex STRONG Progressive approach, 1.0x – 1.4x capex : depreciation p.a. payout c.40% of earnings BALANCE SHEET Invest
Slide 43: Outlook, Summary and Q&A
MARKET UPDATE AND RESULTS PRESENTATION 13 MAY 2025 Donal Murphy OUTLOOK, SUMMARY AND Q&A
Slide 44: Why invest in DCC?
OUTLOOK, SUMMARY AND Q&A 13 MAY 2025 44 WHY INVEST IN DCC? Growing demand: customers need secure, cleaner and Highly competitive energy experienced Scale compounder: opportunities in 400 acquisitions new and existing at high returns markets SUSTAINABLE RETURNS Strong balance sheet and cash COMPOUNDI
Slide 45: Outlook to FY26 and summarise
OUTLOOK, SUMMARY AND Q&A 13 MAY 2025 45 OUTLOOK TO FY26 SUMMARISE DCC expects that the year ending 31 March Strategic progress & material shareholder return 2026 will be a year of good operating profit growth on a continuing basis, strategic progress and continued development activity. Excellent opp
Slide 46: Q&A
Q&A 13 MAY 2025
Slide 47: Appendix
MARKET UPDATE AND RESULTS PRESENTATION 13 MAY 2025 APPENDIX
Slide 48: Appendix contents
MARKET UPDATE AND RESULTS PRESENTATION 13 MAY 2025 48 APPENDIX 01. Additional Financial Information 02. Sustainability and Carbon Intensity 03. Energy: ‘Right to Win’
Slide 49: Business model continues to deliver: 31-year cashflow, FY25 cashflow
APPENDIX 13 MAY 2025 49 BUSINESS MODEL CONTINUES TO DELIVER 31-YEAR CASHFLOW, FY25 CASHFLOW 2025 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 Free cas
Slide 50: Financial summary – half year splits
APPENDIX 13 MAY 2025 50 FINANCIAL SUMMARY – HALF YEAR SPLITS FOR THE YEAR ENDED 31 MARCH 2025 2025 2024 % change Adj. Operating H1 H2 FY H1 H2 FY H1 H2 FY Profit1 £’m £’m £’m £’m £’m £’m % % % 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 41.3 55.9 97
Slide 51: Net exceptional charge (including impairments)
APPENDIX 13 MAY 2025 51 NET EXCEPTIONAL CHARGE (INCLUDING IMPAIRMENTS) FOR THE YEAR ENDED 31 MARCH 2025 2025 Impairment of goodwill: − A non-cash goodwill impairment has been recognised in £m respect of the UK component of DCC Technology’s Info Restructuring and integration costs and other (37.0) Te
Slide 52: Summary of gross debt
APPENDIX 13 MAY 2025 52 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 O/S Average rate Unsecured Notes fixed net1 4.90% £1.44bn 4.87% Unsecured Notes floating net2 5.67% £0.48bn 4.94% Total Unsecured Notes3 £1.87bn 5.13% £1.92
Slide 53: Key financial metrics: pro-forma
APPENDIX 13 MAY 2025 53 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 proc
Slide 54: Other financial considerations regarding FY26 outlook
APPENDIX 13 MAY 2025 54 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 outstanding
Slide 55: Energy Services to SRO EBITA bridge FY25
APPENDIX 13 MAY 2025 55 ENERGY SERVICES TO SERVICES, RENEWABLE AND OTHER (SRO) EBITA BRIDGE FY25, £M Included within Mobility 12.9 197.8 60.7 Included within Energy Products 53.9 22.0 48.3 25.3 Energy Services Renewable power/PPA Lubricants, refrigerants, Fleet, card and forecourt Renewable and blen
Slide 56: DCC Energy: FY25 operating profit mix by carbon intensity
APPENDIX 13 MAY 2025 56 DCC ENERGY For reference: FY25 split of operating profit mix by carbon intensity DCC ENERGY SOLUTIONS MOBILITY 7% 17% 37% 32% 49% 51% 61% 46% Services, Renewables Traditional Lower Carbon and Other (SRO) (>65kgCO2e/GJ)1 (≤65kgCO2e/GJ)1 (≤10kgCO2e/GJ)1 1 Carbon intensity value
Slide 57: Sustainability targets and progress
APPENDIX 13 MAY 2025 57 SUSTAINABILITY TARGETS AND PROGRESS FOR THE YEAR ENDED 31 MARCH 2025 STRATEGIC PRIORITIES 2030 TARGETS 2025 2024 % CHANGE VS BASELINE CLIMATE CHANGE 50% reduction 65 68 -4.4% -48% reduction since 2019 Scope 1 & 2 GHG emissions baseline (ktCO2e Group) 35% reduction 37.9 38.9 -
Slide 58: Energy Products: our customers and right to win
APPENDIX 13 MAY 2025 58 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 commerci
Slide 59: Energy Services: our customers and right to win
APPENDIX 13 MAY 2025 59 ENERGY SERVICES: OUR CUSTOMERS AND RIGHT TO WIN 9% 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 our pr
Slide 60: Mobility: our customers and right to win
APPENDIX 13 MAY 2025 60 MOBILITY: OUR CUSTOMERS AND RIGHT TO 23% WIN MOBILITY SHARE OF DCC EBITA OUR CUSTOMERS OUR PROGRESS OUR RIGHT TO WIN We sell fuel, EV charging and retail goods to EBITA ORGANIC FUEL GROSS We increase our competitive edge: customers at service stations. GROWTH MARGIN PER LITRE