Fletcher Building Limited · NZX:FBU
Fletcher Building — Investor Day (May 2013)
19 slides from Fletcher Building's investor day presentation, May 22, 2013
Slide 1: Building Products Investor Strategy Presentation
Investor Strategy Day – Building Products | Fletcher Building | © May 2013 For personal use only | Page 1 Building Products Investor Strategy Presentation Tim Richards Chief Executive Building Products
Slide 2: Disclaimer
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 2 Disclaimer For personal use only This presentation contains not only a review of operations, but also some forward looking statements about Fletcher Building and the environment in which the company operates. Because
Slide 3: Building Products Division
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 3 Building Products Division For personal use only Building Products Division Plasterboard Insulation Coated Steel Other • Winstone Wallboards • Fletcher Insulation • Roof Tile Group • Fletcher Aluminium • Baron Insula
Slide 4: Building Products Division Financial Results
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 4 Building Products Division Financial Results For personal use only 1H 1H Summary Financials (NZ$M) NZ$m 2012 2013 %Δ Net Sales 737 701 -5 Yearly Trends Revenue Source FY12 EBITDA (excl unusuals) 83 76 -8 1557 1556 14
Slide 5: Plasterboard – Winstone Wallboards
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 5 Plasterboard – Winstone Wallboards For personal use only • No. 1 in New Zealand Key Drivers: • Sole New Zealand plasterboard manufacture • Sales split between Residential currently at 65% capacity and Commercial sect
Slide 6: Plasterboard – Volume and Pricing
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 6 Plasterboard – Volume and Pricing For personal use only Winstone Wallboards Winstone Wallboards Volume 10mm Board m2 Real average selling price (2012 prices)* 2006 2007 2008 2009 2010 2011 2012 2006 2007 2008 2009 20
Slide 7: Plasterboard tendering mechanics in Canterbury
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 7 Plasterboard tendering mechanics in Canterbury: For personal use only • Ministry of Business, Innovation and Employment (MBIE) tender covered the supply of plasterboard for EQC and Southern Response Earthquake Servic
Slide 8: Coated Steel
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 8 Coated Steel For personal use only Coated Steel comprises the following businesses: Revenue origin New • Pacific Coil Coaters Zealand Australia ROW • Stramit Sector Exposure • Dimond Residential • The Roof Tile Group
Slide 9: Coated Steel Value Chain
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 9 Coated Steel Value Chain For personal use only Coating Rollform/Press Distribution Distributors Direct Australia New Zealand Aus / NZ / ROW
Slide 10: Coated Steel - Volumes Pricing
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 10 Coated Steel - Volumes Pricing For personal use only Stramit Stramit Unpainted Steel Tonnes Sold* Real average selling price (2012 prices)* 2006 2007 2008 2009 2010 2011 2012 2006 2007 2008 2009 2010 2011 2012
Slide 11: Coated Steel Distribution Locations
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 11 Coated Steel Distribution Locations For personal use only Darwin Legend: Stramit Dimond Pacific CoilCoaters Roof Tile Group & Gerard NZ Brisbane Perth Adelaide Sydney Auckland
Slide 12: Roof Tiles Sales Volumes and Manufacturing Locations
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 12 Roof Tiles Sales Volumes and Manufacturing Locations For personal use only ME = Middle East SEA = South East Asia LA = Latin America Europe Hungary North North USA America Asia ME Malaysia SEA Africa Sales Volume (0
Slide 13: Growth Opportunities in Coated Steel are Significant
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 13 Growth Opportunities in Coated Steel are Significant For personal use only • Insulated panels • Garage doors • Pre-engineered buildings, additions and alterations • Industry consolidation
Slide 14: Insulation Value Chain
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 14 Insulation Value Chain For personal use only Manufacturing Distribution Installation Australia New Zealand
Slide 15: Insulation Distribution Locations
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 15 Insulation Distribution Locations For personal use only Key Drivers: Darwin • Servicing both Commercial and Residential sectors (approx 50/50% split) • Incremental flow through of 20-25% Brisbane • Trade expos
Slide 16: Insulation – Volume and Pricing
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 16 Insulation – Volume and Pricing For personal use only Fletcher Insulation Fletcher Insulation Pink Batts Tonnes Sold Real average selling price (2012 prices) 2006 2007 2008 2009 2010 2011 2012 2006 2007 2008 2009 20
Slide 17: State of Australian Insulation
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 17 State of Australian Insulation For personal use only • Addressed Fletcher Insulation’s falling market share • Market still depressed • Post insulation subsidy • High AUD hurting competitiveness • Reduced building co
Slide 18: Other Businesses
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 18 Other Businesses For personal use only Fletcher Aluminum Tasman Sinkware No. 2 in New Zealand’s market No. 1 in Australian market Innovative product range Australia’s only world class sink manufacturer Scale fabrica
Slide 19: Building Products - Capturing Value
Investor Strategy Day - Building Products | Fletcher Building | © May 2013 | Page 19 Building Products - Capturing Value For personal use only Group Divisional Levers Levers • Zero harm • Cost – drive competitive cost positions Value Chain • Functional capability – marketing and channel Drivers FB U