Fletcher Building Limited · NZX:FBU
Fletcher Building — Corporate Update (February 2024)
7 slides from Fletcher Building's corporate update, Feb 5, 2024
Slide 1: Update on NZICC and WIAL Carpark Projects
Update on NZICC and WIAL Carpark Projects 5 February 2024 Fletcher Building Limited
Slide 2: NZICC Update: on track for completion by end of 2024
NZICC Update Project remains on track for completion by end of calendar 2024, significant milestones delivered NZICC - South Facade Airbridge connecting Horizon Hotel & NZICC NZICC – Operable Wall Install Underground Entrance to Horizon Hotel NZICC Theatre Seating ▪ NZICC remains on track for final
Slide 3: NZICC Update: Fire remediation works close to complete
NZICC Update Fire remediation works close to complete - majority of remaining scope back to completing original contract works 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 Building Limited Updat
Slide 4: NZICC Update: Additional provision 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 ▪ Additional NZICC provision mainly due to higher actual and forecast c
Slide 5: NZICC Update: Cash flow impact spread across 2H24 and 1H25
NZICC Update Cash flow impact of additional provision is expected to be spread across 2H24 and 1H25 ▪ 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 FY24 is now expected to b
Slide 6: Wellington Airport Carpark Update
Wellington Airport Carpark Update Provision of $15m for estimated costs to remediate quality issues ▪ Fletcher Construction (FCC) has been discussing technical solutions with Wellington International Airport Limited (WIAL) to remediate quality issues on the airport carpark ▪ While the solution has n
Slide 7: Important Information
Important Information 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 information in this present