Fleetwood Limited · ASX:FWD
Fleetwood — Shareholder Meeting (October 2023)
25 slides from Fleetwood's shareholder meeting presentation, Oct 25, 2023
Slide 1: 2023 AGM Chairman's Address & Managing Director & CEO's Presentation
25 October 2023 2023 AGM CHAIRMAN’S ADDRESS & MANAGING DIRECTOR & CEO’S PRESENTATION In accordance with ASX Listing Rule 3.13.3, attached are presentations to be delivered by the Chairman, John Klepec, and the Managing Director & CEO, Bruce Nicholson, at Fleetwood Limited’s Annual General Meeting co
Slide 2: Chairman's Address
CHAIRMAN’S ADDRESS Good morning, ladies, and gentlemen and welcome to the 2023 Annual General Meeting. My name is John Klepec and I am the Chair of Fleetwood Limited. Once again, we have taken a hybrid approach for this year’s AGM and thank you for your attendance both in person and online. I wish t
Slide 3: Managing Director & CEO's Presentation
FY23 marks the second anniversary of the appointment of Bruce Nicholson as CEO. He took the reins of Fleetwood during a time of uncertainty, with the backdrop of a global pandemic. His leadership has been critical to Fleetwood successfully navigating the pandemic, recruiting key management to a new
Slide 4: Our values guide the way we operate
The values guide the way we operate on a day-to-day basis and have been integral to creating a positive culture within each of our businesses; we are now focussed on bringing our purpose to life “To Create Innovative Spaces So People Can Thrive” and I am confident this will have a positive impact on
Slide 5: Building Solutions achieved underlying monthly run-rate profitability
Overall, the business achieved its goal of underlying profitability on a monthly run-rate by year end. As I have previously spoken about, the reset of Building Solutions commenced in December 2021. This involves qualifying work coming into our pipeline against key measures including buildability for
Slide 6: National procurement focus to reduce costs
A focus on national procurement to reduce costs by consolidating our buying and leveraging the purchasing power of the national business is well underway. Procurement savings have been identified and captured in major spend categories. Whilst the benefits were relatively minor in FY23, material savi
Slide 7: Commercialisation of Glyde keyless lock and energy management system
Commercialisation of our keyless lock and energy management system, using the Fleetwood developed Glyde technology is underway. Fleetwood’s development of the technology and its availability to deliver through our Building Solutions’ business positions the Company as a digital market leader. In addi
Slide 8: RV Solutions customers and outlook
customers. Several exciting new imported products and range upgrades are also coming to market this year. The increase in second-hand van sales provides opportunities for combining our products and the promotion of renovations through our service offering. Challenges remain, primarily around raw mat
Slide 9: Annual General Meeting 2023
Annual General Meeting 2023 Fleetwood Australia | 2023 Annual General Meeting
Slide 10: Acknowledgement of Traditional Owners
Fleetwood Australia would like to acknowledge the Traditional Owners of the land on which we meet today, the Gadigal People who are the Traditional Custodians of Eora Country. We pay our respects to Elders past and present. 2 2 Fleetwood Australia | 2023 Annual General Meeting
Slide 11: Board and Executives
Board and Executives John Klepec Jeff Dowling Adrienne Parker Mark Southey Board Chair, Non-Executive Non-Executive Director, Non-Executive Director, Chair Non-Executive Director, Director Chair of Audit Committee of Nominations and Diversity Chair of Remuneration Committee Committee Martin Monro Br
Slide 12: Chairman's Address
Chairman’s Address John Klepec Fleetwood Australia | 2023 Annual General Meeting 4
Slide 13: Managing Director & CEO's Presentation
Managing Director & CEO’s Presentation Bruce Nicholson Fleetwood Australia | 2023 Annual General Meeting 5
Slide 14: Operating Segments
Operating Segments Fleetwood Australia | 2023 Annual General Meeting 6
Slide 15: Our Vision and Values
Our Vision and Values Zero Harm Collaboration Integrity Accountability Innovation Zero harm for Better together Say what we do and I hold myself people and the do what we say accountable. environment We hold ourselves accountable Fleetwood Australia | 2023 Annual General Meeting 7
Slide 16: Overview FY23
Overview FY23 + EBITA of $4.2m (vs $12.3m loss in FY22) + Net cash of $46.6m as at 30 June 2023 + Dividend reinstated 2.1 cps fully franked + Group safety performance 59% reduction in LTIFR + Medium term demand for Searipple contracted out to 2027 + Building Solutions losses excluding major projects
Slide 17: Building Solutions Performance
Building Solutions Performance + EBITA loss of $5.5m on revenue of $295.9m $ Million FY23 FY22 Revenue 295.9 333.1 + Resolution of all major projects at a cost of $3.3m EBITA (5.5) (24.3) + Revenue declined 11% from FY22 in line with activity levels on major projects and low win rates in Q2 and Q3 +
Slide 18: Building Solutions Reset
Building Solutions Reset Reset Results + Kicked off in December 2021 + Strong order book build across the business with small to medium size projects that meet this criteria + Target jobs within our capability + National functional teams in Procurement, Design + Right gross margin and Estimating, Ma
Slide 19: Building Solutions Strategy and Outlook
Building Solutions Strategy and Outlook Strategy Outlook + Build, Transform, Grow roadmap to + Acceptance of modular construction as a design, cost drive improved quality and consistency and time effective solution continues to grow of earnings + Fleetwood is positioning to supply to lifestyle villa
Slide 20: Community Solutions Performance
Community Solutions Performance + Finished FY23 with EBITA of $10.2m on revenue of $ Million FY23 FY22 $33.7m Revenue 33.7 31.7 + Major client shutdowns at Searipple Village saw an EBITA 10.2 8.3 excellent performance in the fourth quarter with the highest occupancy and average rooms rates so far th
Slide 21: Community Solutions Strategy and Outlook
Community Solutions Strategy and Outlook Strategy Outlook + Base utilisation secured with potential for + WA’s Northwest has significant future projects further demand uplift as planned projects planned in the oil and gas, fertiliser, and green gain momentum energy sectors + Additionally, Build Own
Slide 22: RV Solutions Performance
RV Solutions Performance + FY23 produced EBITA of $6.9m on revenue of $80.6m $ Million FY23 FY22 + RV Solutions saw reduced consumer discretionary Revenue 80.6 81.2 demand in the fourth quarter on rising interest rates EBITA 6.9 9.8 + The OEM segment experienced solid trading conditions during the y
Slide 23: RV Solutions Strategy and Outlook
RV Solutions Strategy and Outlook Strategy Outlook + Expand offering in the aftermarket and + The medium-term outlook for RV Solutions increase visibility and engagement with remains solid. While international travel has caravan buyers resumed, the forward order book for manufacturers remains at rea
Slide 24: Summary
Summary OVERALL + Focus on revenue quality, sustainably improving margins, + Building and Community Solutions increasing utilisation and reducing overheads gaining momentum + Roadmap to improve quality and + Recent 5-year agreement with + Medium term outlook for consistency of earnings Rio Tinto und
Slide 25: Important Notices and Disclaimer
Important Notices and Disclaimer The information contained in this presentation is provided by Fleetwood Limited ACN. 009 205 261 (Fleetwood) for informational purposes only and does not constitute an offer, invitation or recommendation to subscribe for or purchase any securities and neither this pr