Adjusted operating profit growth
Total adjusted operating profit increased 3.6% to GBP 634.0m for FY '26, driven by a stronger second half performance (+7.9% H2) despite a weaker first half (approx. -5%).
Adjusted EPS and shareholder returns
Adjusted EPS on a continuing basis rose 9.9% to 438.1p; the Board proposed a 5% dividend increase to 216.72p and returned GBP 700m to shareholders (buyback and tender), with a further GBP 100m planned in FY '28.
Excellent cash conversion and balance sheet strength
Group free cash flow conversion was strong at 108% (DCC Energy conversion reported at 113%), net debt was GBP 690m and net debt-to-EBITDA was 0.9x, providing headroom for further investment and M&A.
High returns on capital
Return on capital employed was 16.8% for the group and 18.8% for DCC Energy, with a decade average ROCE of ~19% and a track record of delivering mid-to-high-teen returns on deployed energy acquisitions.
Mobility segment outperformance
Mobility operating profit increased 8.6% to GBP 134.4m (constant currency organic growth ~5.8%), with nonfuel gross profit up >17% driven by fleet services (fuel & EV cards, telematics, digital parking).
Energy Products and Solutions strength
Solutions operating profit increased 1.9% to GBP 419.8m with Energy Products delivering strong performance (profits up ~11%), supported by pricing discipline, procurement benefits and integration of recent liquid gas acquisitions.
Strategic simplification and growth runway
Group reshaped to focus on energy: sale of DCC Healthcare and Info Tech completed (Nexora rebranded and sale process commenced), proposed rebrand to DCC Energy plc, committed GBP 110m acquisition spend (liquid gas) and cited large addressable markets (liquid gas TAM c.74bn liters; DCC ~5% share).