DCC plc, the Dublin-based and London-listed conglomerate, has announced plans to sell its healthcare division and review strategic options for its technology business, as it seeks to refocus on its energy operations and opportunities in energy transition. This move aims to simplify the group's operations, maximize shareholder value, and accelerate growth within its three key divisions.
CEO Donal Murphy emphasized that the company is building a “unique, multi-energy, sustainable business” centered on supporting its customers' energy transitions. The strategy is expected to drive strong profit growth, high returns, and a significant reduction in customers' carbon emissions.
DCC Energy, which represented 74% of the group's operating profits for the fiscal year ending March 31, 2024, is active across liquid gas and fuels, solar energy, and mobility services. About 35% of the division's profits are derived from renewable products and services, and 42% from lower-carbon liquid gas.
In the six months to September 30, 2024, DCC Energy posted an adjusted operating profit of GBP 182.7 million (USD 235.3 million), a 7% increase year-on-year. The company also committed GBP 106 million to acquisitions, including Wirsol, a German solar and battery storage business, and Acteam ENR, a French solar firm.
The sale of DCC Healthcare is expected to be completed by 2025, while the review of DCC Technology's future options will take place within the next 24 months after completing its operational improvement program.
