REG - DCC PLC - Interim Management Statement

DCCAnnouncement

07/02/2024 07:00

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RNS Number : 2464C  DCC PLC  07 February 2024

7 February 2024

Interim Management Statement

DCC plc, the leading international sales, marketing and support services
group, is issuing this Interim Management Statement for the third quarter
ended 31 December 2023.

Operating profit guidance for year reiterated; Development activity continues

Group adjusted operating profit for the third quarter ended 31 December 2023
was modestly ahead of the prior year, a good performance given the volatile
macro environment.

DCC Energy delivered good operating profit growth, driven by the performance
of Energy Solutions, despite mild weather conditions in most regions during
the third quarter of the financial year. Although operating profit declined in
both DCC Healthcare and DCC Technology, the rate of decline improved relative
to the first half of the year. In DCC Healthcare, DCC Health & Beauty
Solutions saw improved market conditions, albeit remaining subdued relative to
historic growth rates. As in the first half of the year, DCC Technology
experienced difficult trading conditions in the consumer technology sector.

Outlook

DCC continues to expect that the year ending 31 March 2024 will be another
year of operating profit growth in line with expectations, and continued
development activity.

Development activity

DCC has had an active year from a development perspective and has now
committed approximately £355 million to acquisitions since our prior year
Final Results in May 2023. Since the Interim Results announcement in November
2023, DCC Energy has committed approximately £45 million to new acquisitions
which will further strengthen the energy management services and renewables
offering of the business, including:

·   The agreement to acquire the Energy Management division of eEnergy Group
plc ("EML"). EML provides energy management services including energy
procurement, market analysis, risk management and net zero pathway consulting
to industrial, commercial, and public sector customers in the UK. EML's
technology and services empowers customers to identify and eliminate energy
waste and reduce their carbon emissions. The transaction is conditional upon
eEnergy Group plc shareholder approval and is expected to complete by the end
of the financial year.

·    Complementary bolt-on acquisitions in Austria, Ireland and a
renewable fuels distributor in the UK.

In November 2023, DCC announced the agreement to acquire Progas, a leading
distributor of LPG in Germany, subject to regulatory approval. The transaction
is progressing as anticipated and is expected to complete by the end of the
financial year.

Date for Final Results

DCC expects to announce its results for the year ending 31 March 2024 on
Tuesday 14 May 2024.

Contact information
 Investor enquiries:
 Kevin Lucey, Chief Financial Officer           Tel: +353 1 2799 400
 Rossa White, Head of Group Investor Relations  Email: investorrelations@dcc.ie
 Media enquiries:
 Powerscourt (Eavan Gannon/Pete Lambie)         Tel: +44 20 7250 1446
                                                Email: DCC@powerscourt-group.com

About DCC plc

DCC is a leading international sales, marketing and support services group. We
provide solutions the world needs across three transformative sectors: energy,
healthcare and technology; where we acquire, improve and grow diverse
businesses. We bring our growth mindset to our businesses in 22 countries
across four continents, empowering our 16,000 employees to create long term
value - for our shareholders, customers, society and the planet.

 

Headquartered in Dublin, DCC plc is listed on the London Stock Exchange and is
a constituent of the FTSE 100. In our financial year ended 31 March 2023, DCC
generated revenues of £22.2 billion and adjusted operating profit
of £655.7 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 29 years as a public company.

Follow us on LinkedIn (https://www.linkedin.com/company/dcc-plc)

www.dcc.ie (http://www.dcc.ie)

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.

 

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