DCC plc (DCCPF) Q4 2026 Earnings Report

The call reported solid financial and operational performance: adjusted operating profit and EPS grew, cash conversion and returns on capital remained strong, and the group delivered substantial capital returns while accelerating its strategic focus on energy. These positives were tempered by a revenue decline, weaker energy volumes, and a disappointing year for Energy Services amid market and policy volatility. Management emphasized long-term opportunities in liquid gas and multi-energy solutions and maintained an acquisitive stance with a strong balance sheet.

The call reiterated a clear energy‑focused guidance and quantified targets: FY‑26 saw adjusted operating profit +3.6% to £634m, adjusted EPS +9.9% to 438.1p, revenue £15.4bn (‑2.9%), free cash flow conversion 108% (113% in DCC Energy), group ROCE 16.8% (DCC Energy 18.8%), net debt £690m (0.9x EBITDA) and £700m returned to shareholders (with a further £100m expected in FY28) alongside a proposed 5% dividend increase to 216.72p and a £110m committed acquisition spend; management reiterated its 2030 ambition to double profits, medium‑term organic growth guidance of 3–4% with 6–8% from M&A to deliver double‑digit earnings growth, a target to convert ~90% of profits into cash and to sustain ROCE in the high teens, noted 87% of group profit now derives from Energy (Solutions 76% / Mobility 24%), highlighted market opportunity (liquid gas TAM c.74bn litres with c.5% share today), and set operational milestones including the intended Nexora sale by end‑2026 and a proposed name change to DCC Energy plc effective 16 July 2026.