DCC PLC · LSE:DCC
DCC — H1 2010 Earnings Presentation
16 slides from DCC's earnings presentation, November 2009
Slide 1: Interim Results Presentation
Interim Results Presentation Interim Results Six months ended 30 September 2009 Six 10 months ended November 200930 September 2009 19.05.09 1
Slide 2: Highlights - Six months ended 30 September 2009
Interim Results 2009 Highlights - Six months ended 30 September 2009 Change on prior year Constant €’m Reported Currency† • Profit growth achieved against a backdrop of Revenue 2,808.8m -11.6% -4.3% difficult trading conditions and strong Operating profit* 56.6m -6.7% +0.9% comparatives Profit befor
Slide 3: Business overview - six months ended 30 September 2009
Interim Results 2009 Business overview - six months ended 30 September 2009 Change on prior year Constant €’m Reported Currency† Operating profit* DCC Energy 25.2 +11.0% +22.9% DCC SerCom 13.7 +1.5% +8.5% DCC Healthcare 8.7 -11.7% -8.0% DCC Environmental 4.7 -35.7% -28.9% DCC Food & Beverage 4.3 -41
Slide 4: Operating profit – six months ended 30 September 2009
Interim Results 2009 Operating profit – six months ended 30 September 2009 Geographical Split Divisional Split 24% 23% 15% 11% 45% 8% 66% 8% DCC Energy UK DCC SerCom Republic of Ireland DCC Healthcare 4 DCC Environmental Rest of World DCC Food & Beverage 4
Slide 5: Cash flow - six months ended 30 September 2009
Interim Results 2009 Cash flow - six months ended 30 September 2009 €’m 120 Working Operating Tax & Capital Cash Flow interest 100 12.5 Capex 20.9 Depreciation & other 80 19.1 Free Cash Flow PBIT 24.6 60 102.1 40 70.5 56.6 20 5 0 5
Slide 6: Balance sheet strength
Interim Results 2009 Balance sheet strength Net debt €87.7m and total equity €744.4m Liquidity and funding position at 30 September 2009 €’m €’m Cash and short term bank deposits 446.4 Overdrafts (41.8) Cash and cash equivalents 404.6 Bank debt repayable within 1 year (68.4) US Private Placement deb
Slide 7: Acquisition & capital expenditure - €38.7m
Interim Results 2009 Acquisition & capital expenditure - €38.7m Acquisitions Capex Total €’m €’m €’m DCC Energy 16.6 8.9 25.5 DCC SerCom 2.5 2.5 5.0 DCC Healthcare 0.5 5.7 6.2 DCC Environmental - 1.7 1.7 DCC Food & Beverage - 0.3 0.3 Total 19.6 19.1 38.7 7 7
Slide 8: DCC Energy
Interim Results 2009 DCC Energy Change on prior year Constant 2009 2008 Reported currency Revenue €1,788.2m €2,095.8m -14.7% -6.3% Operating profit €25.2m €22.8m +11.0% +22.9% Excellent result considering the exceptionally strong Volume Split comparatives 8% 8% 15.1% increase in total volumes to 2.5
Slide 9: DCC Energy continued
Interim Results 2009 DCC Energy continued Change on prior year Constant 2009 2008 Reported currency Revenue €1,788.2m €2,095.8m -14.7% -6.3% Operating profit €25.2m €22.8m +11.0% +22.9% Completion of Danish acquisition Volume Split - Performing in line with expectations 8% 8% Announcement today of a
Slide 10: DCC SerCom
Interim Results 2009 DCC SerCom Change on prior year Constant 2009 2008 Reported currency Revenue €665.1m €694.3m -4.2% +1.4% Operating profit €13.7m €13.5m +1.5% +8.5% Operating margin 2.1% 1.9% Revenue Split SerCom Distribution - Strong first half in Retail distribution– excellent growth in Britai
Slide 11: DCC Healthcare
Interim Results 2009 DCC Healthcare Change on prior year Constant 2009 2008 Reported currency Revenue €163.8m €172.7m -5.2% +1.9% Operating profit €8.7m €9.8m -11.7% -8.0% Operating margin 5.3% 5.7% Revenue Split Hospital Supplies & Services and Health & Beauty Solutions performed well Good growth i
Slide 12: DCC Environmental
Interim Results 2009 DCC Environmental Change on prior year Constant 2009 2008 Reported currency Revenue €36.0m €47.3m -23.8% -17.7% Operating profit €4.7m €7.3m -35.7% -28.9% Operating margin 13.0% 15.4% Profit impacted by the slowdown in activity Revenue Split levels seen in second half last year
Slide 13: DCC Food & Beverage
Interim Results 2009 DCC Food & Beverage Change on prior year Constant 2009 2008 Reported currency Revenue €155.7m €168.2m -7.5% -5.4% Operating profit €4.3m €7.2m -41.2% -40.6% Operating margin 2.7% 4.3% Revenue Split Difficult economic and trading conditions in Ireland Increasingly competitive tra
Slide 14: Outlook
Interim Results 2009 Outlook • While the business environment continues to be uncertain, the Group anticipates that constant currency operating profit will be broadly in line with last year, a modest improvement in the Group’s expectation • This would still result in reported adjusted earnings per s
Slide 15: Strategy for growth
Interim Results 2009 Strategy for growth • Build on existing market leadership positions • Complementary bolt-on acquisitions to strengthen market positions and extend geographic footprint • Devolved structure with empowered teams • Maintain strong balance sheet - opportunities in current environmen
Slide 16: Strong and consistent growth
Interim Results 2009 Strong and consistent growth Adjusted EPS excl Manor Park Homebuilders contribution Years ended 31 March (cent) 165.06 169.13 Adjusted EPS 143.51 123.95 115.06 10 year CAGR 101.5 105.96 11.8% 94.85 5 year CAGR 82.18 9.8% 65.25 2000 2001 2002 2003 2004 200516 2006 2007 2008 2009