DCC plc (DCC) Q4 2022 Earnings Call

Investor webinar replay

Replay transcript excerpt

Good morning everybody and welcome to DCC's results presentation for the year ended 31 March 2022. I'm Donal Murphy, Chief Executive of DCC and I'm joined here today by Kevin Lucey, our Chief Financial Officer. Thankfully I don't have to read the disclaimer, it's there for your benefit. I'm going to cover off the highlights of the year and what a year it has been. Kevin will take you through the business and financial review. I'll give you an update on what has been another strong year of development activity for the group. I'll then give you an overview of our energy event, which is scheduled for later today. And I hope all of you can join us later today for what I think will be a very insightful event into our energy business. After a summary and our outlook, we'll open up the session for questions as usual. I'm delighted to report an early year of very strong growth and development for DCC, despite the very challenging macro environment. Group adjusted operating profit increased by 11.1% to £589.2 million, 15.1% on a constant currency basis, so clearly constant currency being the underlying performance of the business. Adjusted earnings per share increased by 11.2%, 15.2% on a constant currency basis. We had profit growth across all of our four divisions. I was particularly pleased with the excellent organic profit growth during the year of 6.1%. I've been in the group now for over 24 years and I've never experienced a more volatile or challenging macro environment. We've seen dramatic volatility in energy prices, significant challenges in supply chains, rampant inflation, labour availability issues, and COVID has not gone away and it's not gone impact on our operations. And despite all these challenges, the group performed very strongly, demonstrating the resilie...