Slide 1: Delivering the Promise: FY2018 Half Year Results
DELIVERING THE PROMISE For personal use only FY2018 Half Year Results Teleconference 26 February 2018 9:30am AWST, 12:30pm AEST Conference ID 4649 668 Dial-in 1800 123 296 1
Slide 2: Group Structure
GROUP STRUCTURE Fleetwood is a small conglomerate, focused on education, affordable housing, recreation and resources 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: RV Review
RV REVIEW Breakeven target now July 2019 with six monthly progress reviews For personal use only 4
Slide 5: RV Review
RV REVIEW Breakeven target now July 2019 with six monthly progress reviews For personal use only 5
Slide 6: Financial Performance
FINANCIAL PERFORMANCE Growing revenue and EBIT, reducing capital employed For personal use only Group Revenue ($m)* Group Underlying EBIT ($m)* 167.5 163.8 137.4 142.2 9.8 125.6 6.2 4.4 0.6 1H16 2H16 1H17 2H17 1H18 1H16 2H16 1H17 2H17 1H18 -2.0 Net Cash (Debt) ($m) Capital Employed ($m) 218.3 3.1 0.
Slide 7: Financial Performance: Cashflow progression
FINANCIAL PERFORMANCE Cashflow progression For personal use only $ million H1 2017 H2 2017 H1 2018 EBITDA 9.3 12.6 7.7 Interest paid (net) (0.3) (0.6) (0.5) Tax (0.1) (0.0) (0.7) Working capital (and other) (15.9) 0.9 (9.2) Operating cashflow (7.0) 12.9 (2.8) Net capex (5.7) (2.9) (7.9) Free cashflo
Slide 8: Financial Performance: Business refocused on growth sectors
FINANCIAL PERFORMANCE Business refocused on growth sectors with the resources sector now growing For personal use only 8
Slide 9: Parts and Accessories
PARTS AND ACCESSORIES For personal use only Revenue 33.9 33.4 33.3 33.4 31.6 1H16 2H16 1H17 2H17 1H18 EBIT 1.6 1.3 1.3 1.3 0.3 1H16 2H16 1H17 2H17 1H18 9
Slide 10: Modular Accommodation
MODULAR ACCOMMODATION For personal use only Revenue 97.4 99.3 74.9 78.4 67.6 1H16 2H16 1H17 2H17 1H18 EBIT 9.3 5.9 5.9 4.4 1H16 2H16 1H17 2H17 1H18 -0.8 10
Slide 11: Village Operations
VILLAGE OPERATIONS For personal use only Revenue 16.8 13.4 14.1 13.3 12.2 1H16 2H16 1H17 2H17 1H18 EBIT 4.4 4.0 3.9 3.0 1.2 1H16 2H16 1H17 2H17 1H18 11
Slide 12: Summary and Outlook
SUMMARY AND OUTLOOK For personal use only 12
Slide 13: Appendix 1: Summary Profit and Loss
APPENDIX 1: SUMMARY PROFIT AND LOSS For personal use only $ million H1 2018 H1 2017 Change Revenue 163.8 142.2 15% Underlying EBITDA 7.7 9.3 -18% Depreciation and Amortisation 3.3 3.1 6% Underlying EBIT 4.4 6.2 -29% Finance costs 0.6 0.3 64% Pre-tax profit 3.8 5.9 -35% Tax expense (benefit) 1.2 1.7
Slide 14: Appendix 2: Segment Earnings
APPENDIX 2: SEGMENT EARNINGS For personal use only $ million H1 2018 H1 2017 Change Revenue Recreational Vehicles 21.3 21.1 1% Parts and Accessories 33.4 33.9 -1% Modular Accommodation 99.3 78.4 27% Village Operations 13.3 12.2 9% Unallocated 0.0 0.0 n/a Intersegment eliminations (3.5) (3.4) n/a Tot
Slide 15: Appendix 3: Summary Balance Sheet
APPENDIX 3: SUMMARY BALANCE SHEET For personal use only H1 2018 2017 H1 2018 2017 Current assets Current liabilities Cash and cash equivalents 9.3 5.4 Trade and other payables 53.2 58.8 Trade and other receivables 58.9 65.0 Interest bearing liabilities 0.0 5.0 Inventories 67.7 63.2 Provisions 5.5 5.