DCC PLC · LSE:DCC
DCC — H1 2010/11 Earnings Presentation
14 slides from DCC's earnings presentation, November 2010
Slide 1: Interim Results
Interim Results Six months ended 30 September 2010 Interim results 2010
Slide 2: Highlights – Six months ended 30 September 2010
Highlights – Six months ended 30 September 2010 Change on prior year € Reported Const Currency† Revenue 3,965.8m +41.2% +37.3% Operating profit* 67.9m +20.0% +16.5% Profit before net exceptional items, 60.4m +17.6% +13.9% amortisation of intangibles and tax Adjusted EPS* 57.65 cent +15.1% +11.5% Div
Slide 3: Operating Profit by Division and Geography
Operating Profit – Six months ended 30 September 2010 By Division By Geography 8% 14% Energy UK 10% SerCom 44% 17% Healthcare ROI 17% Environmental 69% Food & Beverage Rest of World 21% 3 Interim results 2010
Slide 4: Acquisition & capital expenditure - €89.4m
Acquisition & capital expenditure - €89.4m* Acquisitions Capex Total €’m €’m €’m DCC Energy 37.0 15.0 52.0 DCC SerCom 24.4 4.8 29.2 DCC Healthcare 0.6 1.9 2.5 DCC Environmental - 4.7 4.7 DCC Food & Beverage - 1.0 1.0 Total 62.0 27.4 89.4 * Committed acquisition and capital expenditure in the six mon
Slide 5: Business overview
Business overview – Six months ended 30 September 2010 Change on prior year Constant €’m Reported Currency† Operating profit* DCC Energy 30.1 +19.1% +14.8% DCC SerCom 14.3 +4.0% +1.3% DCC Healthcare** 11.1 +28.5% +25.8% DCC Environmental 7.0 +49.5% +43.9% DCC Food & Beverage 5.4 +26.4% +26.0% Group
Slide 6: DCC Energy
DCC Energy 2010 2009 Reported Const. Curr. Revenue €2,808.6m €1,788.2m +57.1% +52.2% Operating profit €30.1m €25.2m +19.1% +14.8% Volume Split Excellent first half • Operating profit growth of 14.8% 6% • Very strong performance in Oil Distribution and Fuel Card 8% • 3.3 billion litres of product sol
Slide 7: DCC Energy (continued)
DCC Energy (continued) 2010 2009 Reported Const. Curr. Revenue €2,808.6m €1,788.2m +57.1% +52.2% Operating profit €30.1m €25.2m +19.1% +14.8% Volume Split Very strong performance in Oil Distribution – Continental Europe 6% Good volume performance in LPG in Britain – profitability impacted by 8% less
Slide 8: DCC SerCom
DCC SerCom 2010 2009 Reported Const. Curr. Revenue €799.2m €665.1m +20.2% +17.6% Operating profit €14.3m €13.7m +4.0% +1.3% Operating margin 1.8% 2.1% Satisfactory performance reflecting strong performance in Distribution Revenue Split SerCom Distribution 17% • Good revenue growth in Retail distribu
Slide 9: DCC Healthcare
DCC Healthcare* 2010 2009 Reported Const. Curr. Revenue €153.9m €136.4m +12.9% +9.9% Operating profit €10.4m €8.7m +20.5% +17.8% Operating margin 6.8% 6.3% * Continuing activities - excluding M&R Excellent constant currency operating profit growth in continuing activities Revenue Split Hospital Supp
Slide 10: DCC Environmental
DCC Environmental 2010 2009 Reported Const. Curr. Revenue €53.4m €36.0m +48.2% +43.6% Operating profit €7.0m €4.7m +49.5% +43.9% Operating margin 13.1% 13.0% Revenue Split Result benefited from the reorganisation and increased investment in Britain Satisfactory performance in Britain 23% • Invested
Slide 11: DCC Food & Beverage
DCC Food & Beverage 2010 2009 Reported Const. Curr. Revenue €138.3m €155.7m -11.2% -11.9% Operating profit €5.4m €4.3m +26.4% +26.0% Operating margin 3.9% 2.7% Revenue Split Operating profit increase of 26% 32% • Overall trading conditions remain challenging • Introduction of new products and contro
Slide 12: Strategy
Strategy To grow a sustainable, diversified business through: • Focus on businesses with established, or potential to establish, leadership positions; • Organic growth and acquisitions to strengthen market positions and geographic footprint; • Continued deployment of a devolved management structure;
Slide 13: Outlook for year to March 2011
Outlook for year to 31 March 2011 • As DCC enters its seasonally more significant second half, the Group now expects a mid to high single digit percentage increase in operating profit for the year to 31 March 2011 and an adjusted earnings per share increase of approximately 5%, both on a constant cu
Slide 14: Sustained EPS growth
Sustained EPS growth Adjusted EPS* (cent) 178.0 169.1 16 year CAGR 165.1 13.1% 143.5 10 year CAGR 10.6% 124.0 115.1 5 year CAGR 106.0 101.5 9.1% 94.9 82.2 65.3 55.4 44.4 37.5 31.9 28.4 24.8 94 95 96 97 98 99 00 01 02 03 04 05 06 07 08 09 10 Years ended 31 March * excluding net exceptionals, MPH and