DCC Regulatory News (DCC)

15 July 2022

DCC plc

AGM Update

DCC Reports Strong Growth in First Quarter

DCC plc, the leading international sales, marketing and support services group, is issuing this update in advance of the Company's AGM to be held in Dublin at 11.00 am today. 

First quarter ended 30 June 2022

Following a strong performance for the year ended 31 March 2022, DCC again delivered strong growth in the seasonally less significant first quarter of the year ending 31 March 2023. Group operating profit was in line with expectations and well ahead of the prior year, driven by strong growth in DCC Energy. DCC Healthcare traded robustly and in line with expectations. DCC Technology recorded strong growth, benefitting from the first-time contribution of the acquisition of Almo.

Outlook

DCC continues to expect that the year ending 31 March 2023 will be another year of profit growth and development, notwithstanding the challenging macro environment at present.

Sustainability and development activity

DCC released its second annual standalone Sustainability Report on 12 July 2022. The report highlights how the Group creates sustainable value for its stakeholders and demonstrates how the Group is progressing against its sustainability objectives.

Aligned with the Group's view on sustainability, DCC announced its new Leading with Energy strategy at its capital markets event on 17 May 2022. DCC Energy's strategy is to accelerate the net zero journey of its customers by leading the sales, marketing, and distribution of low carbon energy solutions. On 30 June 2022, the Group announced the appointment of Dr. Fabian Ziegler as the new CEO of DCC Energy and he will commence his role on 1 November 2022.

Since the energy capital markets event, DCC Energy has completed a number of new bolt-on acquisitions, including the acquisition of Protech in the UK. Consistent with DCC Energy's strategy, the acquisition of Protech adds further energy solutions capability for commercial customers in the UK, including the provision of a range of renewable heat and power solutions, maintenance and other services.

DCC has also completed a number of previously announced bolt-on acquisitions, including a further modest acquisition by DCC Healthcare in Germany and DCC Energy's biogas investment in Denmark.

Date for Interim Results

DCC expects to announce its interim results for the six months ending 30 September 2022 on Tuesday 8 November 2022.

Contact information

About DCC plc

DCC is a leading international sales, marketing and support services group with a clear focus on sustainable growth. DCC is an ambitious and entrepreneurial business operating in 21 countries, supplying products and services used by millions of people every day. Building strong routes to market, driving for results, focusing on cash conversion and generating superior sustainable returns on capital employed enable the Group to reinvest in its business, creating value for its stakeholders.

Headquartered in Dublin, the Group operates across three sectors: energy, healthcare and technology, employing over 15,400 people. DCC plc is listed on the London Stock Exchange and is a constituent of the FTSE 100. In its financial year ended 31 March 2022, DCC generated revenue of £17.7 billion and adjusted operating profit of £589.2 million.

DCC has an excellent record, delivering compound annual growth of 14% in adjusted operating profit and generating an average return on capital employed of approximately 19% over 28 years as a public company.

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Forward-looking statements

This announcement contains some forward-looking statements that represent DCC's expectations for its business, based on current expectations about future events, which by their nature involve risk and uncertainty. DCC believes that its expectations and assumptions with respect to these forward-looking statements are reasonable, however because they involve risk and uncertainty as to future circumstances, which are in many cases beyond DCC's control, actual results or performance may differ materially from those expressed in or implied by such forward-looking statements.