DCC Regulatory News (DCC)

21 October 2025

Acquisitions of FLAGA in Austria and a cylinder business in the UK

DCC plc, the leading international sales, marketing and support services group focused on energy, announces it has agreed to acquire FLAGA GmbH ("FLAGA"), a leading distributor of liquid gas in Austria, from UGI International, LLC. Separately in October 2025, DCC acquired the AvantiGas liquid gas cylinder business in the UK, also from UGI International, LLC.

FLAGA, founded in 1947, is headquartered in Vienna, and employs approximately 90 people. The business sells and distributes approximately 45 million litres of liquid gas annually via its nationwide supply, filling and distribution network. FLAGA serves over 15,000 customers across bulk liquid gas where average customer lifetime is more than 15 years, and a significant cylinder business. DCC will also have very high tank ownership, another key characteristic of our existing liquid gas business. FLAGA's experienced management team will continue to lead the business.

DCC has been in the liquid gas market for nearly 50 years, building market-leading positions in six countries and establishing growth platforms in a further three. Liquid gas is central to our growth strategy and accounts for the most significant part of our Energy Solutions operating profit. As a lower carbon energy solution, it is one of our key priorities for growth and for capital deployment. The acquisition of FLAGA marks our entry into the Austrian liquid gas market, where we already have a leading liquid fuels business and a growing presence in energy services.

The FLAGA acquisition is based on an enterprise value of approximately €55 million (£47.5 million) on a cash-free, debt-free basis and the consideration will be settled in cash on completion. The acquisition is expected to generate a mid-teen return on capital employed in the first year of ownership. It is subject to customary regulatory approval and expected to complete by the end of our financial year.

The second acquisition announced today - AvantiGas's cylinder business - is a bolt-on in the UK, where our business is a leader in liquid gas products for customers who are off the natural gas grid.

Donal Murphy, Chief Executive of DCC plc, commented:

"These acquisitions are an important step in DCC's strategy to be the leading energy solutions provider in our chosen markets. We are committed to expanding our liquid gas business in both new and existing geographies. Liquid gas represents a compelling opportunity for DCC and is one of our two key growth priorities. We are already leaders in liquid gas in six European markets where we provide lower-carbon energy solutions to our loyal customer base. We are leveraging these leadership positions to build a comprehensive energy solutions business in these markets. I warmly welcome the teams in Austria and the UK to DCC and look forward to working with them as we continue to build DCC into a global leader in the sales, marketing and distribution of energy products and services."

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About DCC plc

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DCC is a customer-focused energy business, specialising in the sales, marketing, and distribution of secure, cleaner and competitive energy solutions to commercial, industrial, domestic, and transport customers. Headquartered in Dublin, DCC is listed on the London Stock Exchange and is a constituent of the FTSE 100. In our financial year ended 31 March 2025, DCC generated revenues of £18.0 billion and adjusted operating profit of £617.5 million. DCC has an excellent record, delivering compound annual growth of 13% in continuing adjusted operating profit and unbroken dividend growth of 13% while maintaining high returns on capital employed over 31 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.