Slide 1: Delivering the Promise: FY2017 Full Year Results
DELIVERING THE PROMISE For personal use only FY2017 Full Year Results Teleconference 28 August 2017 9:30am AWST, 11:30am AEST Conference ID 5437 7052 Dial-in 1800 123 296 1
Slide 2: Group Structure
GROUP STRUCTURE Fleetwood is a small conglomerate, focused on education, affordable housing and recreation For personal use only 2
Slide 3: Turnaround Plan
TURNAROUND PLAN Significant progress made. Still more to achieve For personal use only 3 YEARS AGO TODAY PLAN COMPLETE 3
Slide 4: Financial Performance
FINANCIAL PERFORMANCE Growing revenue and EBIT, reducing capital employed For personal use only Group Revenue ($m)* Group Underlying EBIT ($m)* 343.8 330.1 312.2 284.5 263.4 14.6 11.1 2.4 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 -3.9 -2.1 Net Cash (Debt) ($m) Capital Employed ($m) 270.4 269
Slide 5: Financial Performance: Business refocused on growth sectors
FINANCIAL PERFORMANCE Business refocused on growth sectors For personal use only 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Education Recreation Resources Affordable Housing Other 2015 2016 2017 5
Slide 6: Recreational Vehicles
RECREATIONAL VEHICLES Manufacturing volume increased by over 50% into a soft market For personal use only 30,000 1,200 22,500 900 15,000 600 7,500 300 0 0 2016 2017 Industry volume (LHS) Fleetwood volume (RHS) 6
Slide 7: Recreational Vehicles
RECREATIONAL VEHICLES For personal use only Revenue 47.4 34.0 29.8 2015 2016 2017 EBIT 2015 2016 2017 -6.7 -7.6 -8.1 - 7
Slide 8: Parts and Accessories
PARTS AND ACCESSORIES For personal use only Revenue 87.6 86.6 78.2 2015 2016 2017 EBIT 1.3 0.9 0.6 2015 2016 2017 8
Slide 9: Modular Accommodation
MODULAR ACCOMMODATION For personal use only Revenue 175.8 142.5 116.4 2015 2016 2017 EBIT 15.2 3.6 2015 2016 2017 -3.6 9
Slide 10: Modular Accommodation
MODULAR ACCOMMODATION MODULAR ACCOMMODATION Significant Education, Government and Affordable Housing Demand For personal use only 10
Slide 11: Village Operations
VILLAGE OPERATIONS For personal use only Revenue 34.7 30.2 26.3 2015 2016 2017 EBIT 9.0 6.9 5.2 2015 2016 2017 11
Slide 12: Summary
For personal use only SUMMARY 12
Slide 13: Appendix 1: Summary Profit and Loss
APPENDIX 1: SUMMARY PROFIT AND LOSS For personal use only $ million 2017 2016 Change Revenue 330.1 284.5 16% Underlying EBITDA 21.9 7.2 204% Depreciation and Amortisation 7.3 9.3 -22% Underlying EBIT 14.6 -2.1 n/a Finance costs 0.9 1.0 -5% Pre-tax profit 13.7 -3.0 n/a Tax expense (benefit) 4.3 -0.4
Slide 14: Appendix 2: Segment Earnings
APPENDIX 2: SEGMENT EARNINGS For personal use only $ million 2017 2016 Change Revenue Recreational Vehicles 47.4 29.8 59% Parts and Accessories 87.6 86.6 1% Modular Accommodation 175.8 142.5 23% Village Operations 26.3 30.2 -13% Unallocated 0.3 0.1 n/a Intersegment eliminations -7.3 -4.7 56% Total r
Slide 15: Appendix 3: Summary Balance Sheet
APPENDIX 3: SUMMARY BALANCE SHEET For personal use only 2017 2016 2017 2016 Current assets Current liabilities Cash and cash equivalents 5.4 6.1 Trade and other payables 58.8 42.2 Trade and other receivables 65.0 40.6 Interest bearing liabilities 5.0 3.0 Inventories 63.2 49.3 Provisions 5.8 5.6 Asse