DCC (DCC) H1 2026 earnings summary

Executive summary

• Completed major strategic transformation to focus solely on the energy sector, divesting healthcare and infotech businesses and progressing toward a single-sector model.

• Returned significant capital to shareholders, including a GBP 100 million buyback and a forthcoming GBP 600 million tender offer, funded by the sale of DCC Healthcare.

• Acquired two liquid gas businesses in Europe and expanded into fleet services, strengthening leadership in priority markets.

• Leadership team restructured to align with the new energy-focused strategy.

• Reiterated full-year guidance with improved trading quarter on quarter and ongoing strategic development.

Financial highlights

• Revenue from continuing operations for the six months ended September 2025 was GBP 7.4 billion, down 7.1% year-over-year, mainly due to lower energy volumes, commodity prices, and disposals.

• Adjusted operating profit from continuing operations declined 5.4% to GBP 206.7 million.

• Adjusted EPS from continuing operations fell 4.2% to 120.8p; total adjusted EPS down 17.8%.

• Interim dividend increased by 5% to 69.50p per share.

• Net debt (excluding lease creditors) reduced to GBP 522.3 million from GBP 1,092.1 million.

Outlook and guidance

• Confident in achieving full-year guidance for operating profit growth, with expectations of a stronger second half due to seasonal factors and normalization of weather impacts.

• Ongoing development activity and a strong pipeline of growth opportunities in DCC Energy.

• Anticipates organic growth of 3-4% and acquisition growth of 6-8% per annum, targeting double-digit earnings growth.

• Medium-term ambition to double operating profit to GBP 830 million by 2030.

• Focused on achieving 2030 ambition and further growth in multi-energy business.