Financial highlights
£682.8 m
+4.1% adjusted operating profit
2024 : £682.8m
2023 : £655.7m
2022 : £589.2m
455.01 p
-0.3% adjusted EPS
2024 : 455.01p
2023 : 456.27p
2022 : 430.11p
196.57 p
+5.0% dividend per share
2024 : 196.57p
2023 : 187.21p
2022 : 175.78p
14.3 %
return on capital employed
2024 : 14.3%
2023 : 15.1%
2022 : 16.5%
SUSTAINABILITY HIGHLIGHTS
74.4
carbon intensity gCO₂e/MJ (scope 3)
2024 : 74.4gCO₂e/MJ
2023 : 74.9gCO₂e/MJ
2022 : 76.4gCO₂e/MJ
68 kts
carbon emissions
(scope 1 and scope 2)
2024 : 68kts
2023 : 78kts
2022 : 86kts
64%/36%
gender diversity in 2024
2024: 64% male/36% female
2023: 63% male/37% female
2022: 63% male/37% female
0.89
maintenance of health and safety LTIFR
2024 : 0.89
2023 : 0.97
2022 : 0.96
AT A GLANCE
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 16,600 employees to create long term value – for all our stakeholders.
16,600
employees
22
countries
4
continents
124 %
total returns generated over past decade
Compared to 76% for the FTSE 100 index
SUSTAINABLE GROWTH
We measure our progress across the four pillars of our Sustainability Reporting Framework.
Climate change and energy transition
Our goal is net zero. We are committed to leading our customers in their energy transition by providing innovative and cleaner energy solutions, reducing carbon emissions.
Safety and environmental protection
Our goal is no accidents. Safety must be grounded in a culture that encourages every DCC employee and contractor to identify and raise concerns.
People and social
Our goal is to provide a vibrant, diverse and innovative place to work and be a positive member of the communities we serve. DCC is a people business, and developing and investing in our people is a key strategic objective.
Governance and compliance
Our goal is to operate in accordance with the highest standards of ethics, compliance and corporate governance.
OUR SECTORS
We support solutions for progress and growth across three transformative sectors.
ENERGY
THE WORLD NEEDS CLEANER ENERGY FOR EVERYONE
Our ambition is to double profits through strong carbon leadership. We are already on our way with over a quarter of profits coming from non-fossil sources. We bring decarbonisation closer through domestic, commercial and mobility solutions.
DCC ENERGY BUSINESSES
ENERGY SOLUTIONS
We bring decarbonisation closer to our customers and focus on:
COMMERCIAL AND INDUSTRIAL: We are the trusted partner of commercial customers, reducing the complexity of transition and delivering energy solutions across processes, heating and fleets.
DOMESTIC: We will lead the transition for off-grid homes, making decarbonisation simple and...
ENERGY MOBILITY
We are the leading multi-fuels network focused on:
RETAIL NETWORK: We operate a network of retail forecourts on motorways and in urban areas providing fuel and EV charging.
FLEET SERVICES: Multi-fuel bunkering and value add services for small/mid-sized fleets.
PERFORMANCE
15.2 bn
-2.2%
volume (litres)
2024 : 15.2bn
2023 : 15.5bn
2022 : 15.9bn
£503.0 m
+9.9%
adjusted operating profit
2024 : £503.0m
2023 : £457.8m
2022 : £407.1m
3.31 ppl
adjusted operating profit per litre
2024 : 3.31ppl
2023 : 2.95ppl
2022 : 2.57ppl
18.7 %
return on capital employed
2024 : 18.7%
2023 : 19.0%
2022 : 18.6%
£769.8 m
operating cash flow
2024 : £769.8m
2023 : £573.9m
2022 : £518.4m
16.4 %
10-year adj. operating profit CAGR
2024 : 16.4%
2023 : 15.7%
2022 : 18.8%
GROWTH AND PROGRESS IN ACTION: GROWTH IN BIOFUELS
Greening our existing fuels business plays an important part in our plan to both double our profits and halve our carbon between 2022 and 2030. We have market leading fuels businesses in Britain, Ireland, Denmark, Austria and Sweden. These businesses provide an unparalleled opportunity to lead the decarbonisation of these markets.
Hydrotreated Vegetable Oil (‘HVO’) is a renewable drop-in replacement for diesel which lowers carbon emissions by up to 90%. We made considerable progress in building our HVO business in Britain and Ireland during the year. In Britain, we acquired the trade and assets of Green BioFuels, a market leading HVO distributor. In Ireland, we have built our business into the leading distributor of HVO.
Our expertise in this area has allowed us to work closely with many commercial customers to reduce their carbon footprint. We have recently worked with customers like DHL, Sky, BBC, Aggreko, AWS and Dublin Port to convert their businesses to HVO. We have also worked closely with supply partners such as Neste, Shell and BP to ensure that we are supplying high quality products to our customers. DCC Energy has also converted a large portion of our own truck fleet to HVO, helping us reduce our Scope 1 and 2 carbon emissions by 15% over the prior year and achieving a 40% reduction since 2019.
HEALTHCARE
THE WORLD NEEDS LIFELONG HEALTH
People are living longer, and whatever stage of life they’re at, we want them to be healthy too. So we support everyday health and wellness, as well as providing products that enable practitioners to diagnose and treat illness.
DCC HEALTHCARE BUSINESSES
DCC VITAL - PATIENT HEALTH
WHAT WE DO: We help to improve patient outcomes by providing products and services that enable healthcare providers to diagnose and treat illness.
HOW WE DO IT: We supply healthcare providers with high-quality medical and diagnostic products for use in hospital and primary care settings.
DCC HEALTH & BEAUTY SOLUTIONS - CONSUMER HEALTH
WHAT WE DO: We help people to maintain and improve their health and wellbeing, enabling them to live well every day with self-care products.
HOW WE DO IT: We develop and manufacture nutritional supplements and beauty products for brand owners in a growing health and beauty market.
Performance
£859.4 m
+4.6%
revenue
2024 : £859.4m
2023 : £821.5m
2022 : £765.2m
£88.1 m
-4.0%
adjusted operating profit
2024 : £88.1m
2023 : £91.8m
2022 : £100.4m
10.3 %
operating margin
2024 : 10.3%
2023 : 11.2%
2022 : 13.1%
10.2 %
return on capital employed
2024 : 10.2%
2023 : 13.0%
2022 : 20.5%
£100.9 m
operating cash flow
2024 : £100.9m
2023 : £102.4m
2022 : £106.8m
12.0 %
10-year adjusted operating profit CAGR
2024 : 12.0%
2023 : 15.9%
2022 : 18.5%
GROWTH AND PROGRESS IN ACTION: INNOVATION IN CUSTOMER INSIGHTS AND OPERATIONAL EFFICIENCIES
DCC Vital’s Primary Care business is a leading supplier of medical equipment and consumables to healthcare professionals across Europe. To maintain its market position, we embarked on a strategic transformation, leveraging technology to improve customer experience and operational efficiency.
This included the rollout of a new Cloud Commerce platform and a Product Information Management system, aimed at modernising the customer ordering process and enhancing product information accuracy. We also launched a new ERP system in our UK Primary Care operations to streamline processes and improve data integrity, and invested in artificial intelligence to derive customer insights and achieve operational efficiencies.
These initatives support strategic enhancements as part of a broader vision to ensure sustainable and scalable growth, with the first deployment of the primary care technology ecosystem template in Williams UK serving as a model for subsequent rollouts in the DACH region.
This transformation journey reflects our proactive approach to adapting to the rapidly evolving healthcare market, integrating technology into our core operations and positioning ourselves for future growth.
TECHNOLOGY
THE WORLD NEEDS PROGRESS MAKERS
We are progress makers. Whatever the industry. Whatever the challenge. We make technology provide the solution.
Acting as an enabler between global technology brands and the people and businesses who use their products, we create solutions that enhance experiences, save time, and improve lifestyles.
DCC TECHNOLOGY’S THREE PLATFORMS
PRO TECH – ENHANCED EXPERIENCES
We bring technology elements together to create complete elevated experiences, enabling the digital transformation of public and private spaces for vendors and customers.
INFO TECH – FASTER CONNECTIONS
We make faster connections happen by putting the latest technology in people’s hands – fast. We provide technology for homes and businesses allowing information to flow.
LIFE TECH – HIGH-QUALITY LIFESTYLES
We make it easier for people to live high-quality lifestyles by providing technology that improves their wellbeing.
Performance
£4.8 bn
-9.3%
revenue
2024 : £4.8bn
2023 : £5.3bn
2022 : £4.6bn
£91.7 m
-13.6%
adjusted operating profit
2024 : £91.7m
2023 : £106.1m
2022 : £81.7m
1.9 %
operating margin
2024 : 1.9%
2023 : 2.0%
2022 : 1.8%
7.6 %
return on capital employed
2024 : 7.6%
2023 : 8.7%
2022 : 9.1%
£125.1 m
operating cash flow
2024 : £125.1m
2023 : £184.4m
2022 : £3.2m
6.7 %
10-year adjusted operating profit CAGR
2024 : 6.7%
2023 : 9.8%
2022 : 7.0%
GROWTH AND PROGRESS IN ACTION: EXERTIS JAM DELIVER END-TO-END SOLUTION FOR VENDOR WITH POWERFUL RESULTS
DCC Technology’s strategy is to invest and grow in specialist value-added distribution sectors in selected geographic markets, with a core focus on Pro Tech. These markets typically offer attractive gross margins, are stickier with suppliers and customers, and provide sufficient total addressable market to enable consolidation towards leadership positions.
DCC Technology has made multiple successful acquisitions in Pro Tech, creating the largest specialist professional AV distributor in the world by revenue. Sales processes in these markets tend to be technical and solutions-focused, where the distributor is a market enablement partner for manufacturers. DCC Technology’s specialist businesses provide key services and value-add to partners, including access to specialist reseller channels, comprehensive and relevant product offerings, market enablement, concentration of talent and knowledge, specialist end-market competencies (e.g., hospitality, education), project support and managed services.
Exertis Jam, a part of DCC Technology’s Pro Tech business, works with key resellers to provide...
CHAIR’S STATEMENT
In our 30th year as a listed company, DCC reaffirmed its position as a leading enabler of growth and progress, delivering another strong set of financial results and further progress against our strategic objectives. Adjusted operating profit increased by 4.1% to £682.8 million. Free cash flow conversion was 100%.
The Group’s return on capital employed remained strong at 14.3%. This performance allowed the Board to recommend a final dividend to shareholders of 133.53p per share which, when added to the interim dividend paid in December, provides a total dividend of 196.57p, representing an annual increase of 5%.
DCC has now increased its dividend to shareholders in every one of the 30 years since the Company listed, growing its dividend at a compound annual rate of 13.2%.
I extend the gratitude of the Board to our 16,600 colleagues, led by Chief Executive Donal Murphy and his Group Management Team, for their unwavering commitment, hard work and resilience. Your dedication to our customers, your passion for innovation, and your commitment to DCC’s values are the driving forces behind the Company’s continued and future success.
Mark Breuer
Chair
CHIEF EXECUTIVE’S REVIEW
Thanks to the exceptional work of my 16,600 colleagues, this was another year of growth and progress for DCC. Our adjusted operating profit was up 4.1% to £682.8 million, with free cash flow conversion remaining strong at 100%. The progress made by DCC Energy was a feature of the year. But it was also notable that DCC Healthcare returned to organic growth during the second half of the year. I was very pleased that we achieved this growth while continuing to reduce our reliance on fossil fuels and achieving another reduction in total carbon emissions, in line with our strategic ambitions. DCC became a publicly-listed company in 1994. As we reflect on three decades of growth and progress, I am confident that DCC’s clear purpose and strategy, deep capabilities and values-driven culture position the Group well for further success.
Donal Murphy
Chief Executive
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CONTACTS
Get in touch with our team for any questions or enquiries.
Rossa White
Head of Investor Relations
DCC plc, DCC House, Leopardstown Road, Foxrock, Dublin 18, D18 PK00, Ireland
Hollie Daly
Investor Relations Manager
DCC plc, DCC House, Leopardstown Road, Foxrock, Dublin 18, D18 PK00, Ireland