DCC : Annual Report 2023

INVEST IN

WHAT THE WORLD NEEDS

Annual Report and Accounts 2023

WE KNOW WHAT THE WORLD NEEDS TO GROW AND PROGRESS​

CONTENTS

STRATEGIC REPORT	GOVERNANCE	SUPPLEMENTARY INFORMATION
2	Highlights of the Year	86	Chairman's Introduction	232	Principal Subsidiaries, Joint Ventures
4	At a Glance	88	Board of Directors		and Associates
6	Chairman's Statement	90	Group Management Team	236	Shareholder Information
8	Chief Executive's Review	92	Corporate Governance Statement	238	Corporate Information
12	Strategy	108	Governance and Sustainability	239	Independent Assurance Statement
14	Business Model		Committee Report	241	Alternative Performance Measures
16	Business Reviews	112	Audit Committee Report	246	5 Year Review
	16	DCC Energy	118	Remuneration Report	247	Index
	24	DCC Healthcare	142	Report of the Directors
	32	DCC Technology
40	Key Performance Indicators	FINANCIAL STATEMENTS
44	Financial Review	146	Statement of Directors' Responsibilities
52	Stakeholder Engagement
147	Independent Auditor's Report
58	Sustainability Review
154	Financial Statements
77	Risk Report

THE WORLD NEEDS SOLUTIONS

for cleaner energy, lifelong health, and the technology to make progress happen.

WE INVEST AND REINVEST IN WHAT THE WORLD NEEDS

Future-focused businesses and people with ​the enterprise and innovation to make progress happen.

WE RETURN WHAT THE WORLD NEEDS

Progress and shared value that grows and grows - for our shareholders and customers, our people, society and our planet.

DCC plc Annual Report and Accounts 2023

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HIGHLIGHTS OF THE YEAR

WE ENABLE

PEOPLE AND

BUSINESSES

TO GROW

AND PROGRESS

The world needs shared value that grows and grows. Our purpose and strategy generate value for our investors - and for our colleagues, our customers, the societies we serve and the planet.

HIGHLIGHTS​	ADJUSTED OPERATING PROFIT	ADJUSTED EPS
	£655.7m	+11.3%	456.27p	+6.1%
	2023	£655.7m	2023	456.27p
	2022	£589.2m	2022	430.11p
	2021	£530.2m	2021	386.62p

DCC delivered strong growth in a volatile macro environment, demonstrating the resilience of our diverse business and the commitment of our teams throughout the Group.

DONAL MURPHY

Chief Executive

CARBON INTENSITY

72.1gCOe/MJ

2023	72.1
2022	76.4
2021	76.5

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STRATEGIC REPORT GOVERNANCE FINANCIAL STATEMENTS SUPPLEMENTARY INFORMATION

DIVIDEND PER SHARE		OPERATING PROFIT		EPS
187.21p	+6.5%	£512.0m	+11.7%	338.40p	+6.8%
2023		187.21p	2023	£512.0m	2023	338.40p
2022		175.78p	2022	£458.4m	2022	316.78p
2021		159.80p	2021	£422.9m	2021	297.04p
FREE CASH FLOW		RETURN ON CAPITAL EMPLOYED
£570.4m		15.1%
2023		£570.4m	2023	15.1%
2022	£382.6m		2022	16.5%
2021		£687.8m	2021	17.1%

1. All references to 'adjusted operating profit' and 'adjusted earnings per share' included in the Strategic Report are stated excluding net exceptionals and amortisation of intangible assets. Other 'Alternative Performance Measures' ('APMs') are detailed on pages 241 to 245.
2. Return on capital employed excludes the impact of IFRS 16 Leases. See APMs on page 244 for further information.

DCC plc Annual Report and Accounts 2023 3