Slide 1: Half Year Results FY23
Half Year Results FY23 FEBRUARY 2023 Fleetwood Limited Half Year Results FY23 Our Lady’s Catholic Primary School, Victoria
Slide 2: Operating Segments
Operating Segments COMMUNITY SOLUTIONS WA SA VIC NSW QLD Fleetwood Limited Half Year Results FY23 22
Slide 3: Our Vision and Values
Our Vision and Values Zero Harm Collaboration Integrity Accountability Growth I hold myself through Zero harm for Better together. Say what we accountable. Innovation people and the do and do what environment. we say. We hold ourselves accountable. Fleetwood Limited Half Year Results FY23 3
Slide 4: Key Points H1 FY23
Key Points H1 FY23 + Underlying EBITA of $0.2m (vs $1.5m loss in H1 FY22). + Building Solutions loss reduced to $2.3m as work on FY22 major projects completed. + Community Solutions EBITA of $2.6m due to timing of shutdowns and ahead of major project demand. + RV Solutions continuing to benefit from
Slide 5: Earnings Summary
Earnings Summary + An improved performance in Building Solutions was $ Million H1 FY23 H1 FY22 offset by lower earnings from the remaining businesses. + Work on all Building Solutions FY22 major projects has Revenue 223.1 209.2 now been completed and efforts are now being focused EBITDA 8.7 6.8 on c
Slide 6: Cashflow Summary
Cashflow Summary + The Company maintained a stable net cash $ Million H1 FY23 H1 FY22 position after allowing for payment of the $14.1m onerous contract provision taken late in FY22. EBITDA 8.7 6.8 + This is despite the challenges presented by cost Cash outflows from discontinued businesses - (0.5)
Slide 7: Balance Sheet Summary
Balance Sheet Summary + Strong cash position retained. $ Million H1 FY23 FY22 + Total debt and bonding facilities of $81m. Net working capital 23.7 8.7 + Project bonding outstanding fell from $27.0m in June 2022 to $22.5m in December 2022 Property Plant and Equipment 35.7 36.9 reflecting the wind do
Slide 8: Building Solutions Performance
Building Solutions Performance + H1 FY23 recorded an EBITA loss of $2.3m on revenue $ Million H1 FY23 H1 FY22 of $168.2m. + Revenue growth driven by the Queensland education Revenue 168.2 151.4 sector. EBITA (2.3) (8.5) + Revenue declined from H2 FY22 in line with activity levels on major projects.
Slide 9: Building Solutions Lessons Learnt
Building Solutions Lessons Learnt Issues + Size, complexity and bespoke elements of projects challenged the capability of the team, with limited access to additional skilled labour. + Exposure to labour shortages and high raw material costs driven by supply shortages. Solutions Implemented + Forward
Slide 10: Building Solutions Strategy and Outlook
Building Solutions Strategy and Outlook Strategy + Build, Transform, Grow roadmap to drive improved quality and consistency of earnings. + Improve capability, systems, processes and brand awareness to underpin long term, sustainable growth. + Revenue diversification and moving from being a builder t
Slide 11: Building Solutions Strategy Progress
Building Solutions Strategy Progress + Overhead staff numbers down 5% since June as activity on major projects reduces. + 30% improvement in TRIFR in H1 FY23. + Centralisation of design and estimating function. + Factory capacity and utilisation now being monitored and driving sales and operation pl
Slide 12: Community Solutions Performance
Community Solutions Performance + Finished H1 FY23 with EBITA of $2.6m on revenue of $13.1m. + EBITA was below H1 FY22 due to the timing of major client shutdowns this year. + Searipple Village saw the ongoing impact of low demand in the Karratha market ahead of planned major projects. + Osprey Vill
Slide 13: Community Solutions Strategy and Outlook
Community Solutions Strategy and Outlook Strategy + Base utilisation secured with potential for large demand uplift as planned projects gain momentum. + Glyde technology platform can position Fleetwood as a digital and ESG market leader and extend and enrich our relationships with customers. Outlook
Slide 14: RV Solutions Performance
RV Solutions Performance + H1 FY23 produced EBITA of $3.9m on revenue of $ Million H1 FY23 H1 FY22 $41.6m. + Some softening of aftermarket demand was Revenue 41.6 41.4 apparent during the second quarter. EBITA 3.9 5.1 + OEM production remained strong. + Wage inflation and significant increases in pr
Slide 15: RV Solutions Strategy and Outlook
RV Solutions Strategy and Outlook Strategy + Expand retail offering in the aftermarket and increase visibility and engagement with caravan buyers. + Commercialise new products in the OEM segment. + Update IT systems to take advantage of current technological capability and improve productivity. Outl
Slide 16: Summary and Outlook
Summary and Outlook COMMUNITY SOLUTIONS + Roadmap to improve quality and + Recent 5-year agreement with Rio Tinto + Medium term outlook for domestic consistency of earnings outlined with underpins future utilisation travel market remains positive. Build, Transform, Grow Strategy. + Significant proje
Slide 17: 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
Slide 18: Thank you
Thank you Investor Relations T 08 9323 3300 E info@fleetwood.com.au Fleetwood Limited Half Year Results FY23 18