Fletcher Building Limited · NZX:FBU
Fletcher Building — Shareholder Meeting (November 2004)
50 slides from Fletcher Building's shareholder meeting presentation, Nov 9, 2004
Slide 1: Annual Meeting of Shareholders 2004 - Chairman's Address
“” FletcherSuiding Annual Meeting of Shareholders 2004 2.00pm Tuesday 9 November Rangitoto Room Sheraton Auckland Hotel & Towers 83 Symonds St Auckland New Zealand Chairman’s Address
Slide 2: Chairman's address: financial results and strategic direction
Good afternoon and welcome to the fourth annual shareholders’ meeting of Fletcher Building Limited. Financial Results Fletcher Building again produced a record result, with net earnings up 43 percent to $240 million. All the long-standing divisions of the company increased their earnings for the thi
Slide 3: Performance and investment
Even without the acquisitions, our operating earnings would have improved by about 270 percent since 2001. Our management team has done an outstanding job in this regard. Their efforts have been assisted by economic growth, but are no less creditable for that. The second aspect of performance is rel
Slide 4: Investment opportunities and governance
We do, of course, continue to evaluate new opportunities. As a result of the strong cash generation over the past three years, the company is financially well positioned to make investments — whether they be internal or external — where there is a compelling proposition for value creation. | do thin
Slide 5: Outlook for residential and non-residential markets
At the time of our full year announcement in August, directors expressed the view that the residential construction market in New Zealand and Australia would slow during the 2005 financial year. The further slowing in immigration in New Zealand, and in property sales and prices in both New Zealand a
Slide 6: Chief Executive Officer's Address
“” FletcherSuiding Annual Meeting of Shareholders 2004 2.00pm Tuesday 9 November Rangitoto Room Sheraton Auckland Hotel & Towers 83 Symonds St Auckland New Zealand Chief Executive Officer's Address
Slide 7: Business structure
Thank you Mr Chairman, and good afternoon ladies and gentlemen. Business Structure Before commenting on the performance of the company's different businesses, it is useful to recap very briefly on the composition of Fletcher Building. We are essentially a building materials and building products man
Slide 8: Concrete division results
increased during the year, and there was a keen focus on costs which led to margin improvement in all business units other than Golden Bay Cement. Looking at the businesses that make up the Concrete division, the cement business had a record level of domestic sales, but its earnings growth was limit
Slide 9: Construction division results
This followed a similar move in Melbourne in the previous year. Construction has just been completed on a new distribution centre in Brisbane, which completes the warehouse consolidation programme. The Construction division earnings were up by 24 percent. The Building operations lifted earnings by 3
Slide 10: Economic value added and return on equity
tax profit over and above that required to match the after-tax cost of capital. We generated EVA of $139 million, compared with $65 million and $46 million in the two previous years. The Return on Equity was 24.3 percent, following 23 percent and 16.9 percent in the previous years. So by any of the
Slide 11: Earnings
Slide 12: Strategic development
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Slide 15: Investment
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Slide 18: Annual Shareholders' Meeting 2004 - CEO
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Slide 25: Financial performance: operating earnings pre unusuals
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Slide 29: Laminates & Panels division - operating earnings
Slide 30: Distribution
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Slide 31: Brands portfolio
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Slide 32: Construction and distribution brands
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Slide 34: Construction division - operating earnings
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Slide 39: Distribution results
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Slide 49: Outlook
Slide 50: Annual Shareholders' Meeting 2004
Fletcher Building — Shareholder Meeting (November 2004) on 6ix