Fletcher Building Limited · NZX:FBU
Fletcher Building — Corporate Update (February 2024)
8 slides from Fletcher Building's corporate update, Feb 5, 2024
Slide 1: Presentation for update on NZICC and WIAL Carpark projects
Presentation for update on NZICC and WIAL Carpark projects Auckland, 5 February 2024: Fletcher Building earlier today announced an update on the New Zealand International Convention Centre and Hobson Street Hotel project (“NZICC”) and the Wellington International Airport Carpark project (“WIAL Carpa
Slide 2: Update on NZICC and WIAL Carpark Projects
Update on For personal use only NZICC and WIAL Carpark Projects 5 February 2024 Fletcher Building Limited
Slide 3: NZICC Update
NZICC Update Project remains on track for completion by end of calendar 2024, significant milestones delivered For personal use only NZICC - South Facade Airbridge connecting Horizon Hotel & NZICC NZICC – Operable Wall Install Underground Entrance to Horizon Hotel NZICC Theatre Seating ▪ NZICC remai
Slide 4: Fire remediation works close to complete
NZICC Update Fire remediation works close to complete - majority of remaining scope back to completing original contract works For personal use only NZICC completion Late Calendar 2024 L6 L5 L4M L3 L2 L1 Hotel completion B1 February 2024 Basement Car Parks B2 Works Completed B3 B4 Page 3 | Fletcher
Slide 5: Additional provision announced today of $165m
NZICC Update Additional provision announced today of $165m is mainly from higher costs of steel remediation, and the updated forecasts to complete the interior fit-out & operating systems install from the original contract scope For personal use only ▪ Additional NZICC provision mainly due to higher
Slide 6: Cash flow impact of additional provision spread across 2H24 and 1H25
NZICC Update Cash flow impact of additional provision is expected to be spread across 2H24 and 1H25 For personal use only ▪ Previous expectation was for a cash outflow on NZICC of c. $300m in FY24, ahead of a small positive cash inflow in FY25 ▪ Based on the latest provision, the cash outflow in FY2
Slide 7: Wellington Airport Carpark Update
Wellington Airport Carpark Update Provision of $15m for estimated costs to remediate quality issues For personal use only ▪ Fletcher Construction (FCC) has been discussing technical solutions with Wellington International Airport Limited (WIAL) to remediate quality issues on the airport carpark ▪ Wh
Slide 8: Important Information
Important Information For personal use only This presentation has been prepared by Fletcher Building Limited and its group of companies (“Fletcher Building”) for informational purposes. This disclaimer applies to this document and the verbal or written comments of any person presenting it. The infor