Fleetwood Limited · ASX:FWD
Fleetwood — Investor Presentation (May 2009)
18 slides from Fleetwood's investor presentation, May 7, 2009
Slide 1: Delivering the Promise
For personal use only “Delivering Delivering the Promise” Promise
Slide 2: Fleetwood's operations
Fleetwood’s Fleetwood s operations: For personal use only • Recreational Vehicles • Manufactured Accommodation Based in three of Australia Australia’s s growth sectors • Retirement p • Resource development • Recreation
Slide 3: Market Capitalisation evolution
Market Capitalisation $m 500 For personal use only 450 Fleetwood Evolution Amalgamated 400 Western Portables and Durabuilt to Woodside form Searipple Fleetwood 350 Rainbow Expansion Acquired Acq ired 300 Carvan and Campervans 250 Windsor and Parks Acquired Sold 200 Durabuilt and Territor Territory T
Slide 4: Recreational Vehicles
Recreational Vehicles For personal use only Market Position Long Term Drivers Coromal & Windsor Caravans • Retiree sector growth - retirees 2nd largest caravan manufacturer in are largest users of caravans caravans. Australia >20% market share. • Impact of “baby boomers”. Camec largest supplier of p
Slide 5: Recreational Vehicles: Camec
Recreational Vehicles Camec For personal use only
Slide 6: Recreational Vehicles: Coromal
Recreational Vehicles Coromal For personal use only
Slide 7: Recreational Vehicles: Flexiglass
Recreational Vehicles Flexiglass For personal use only
Slide 8: Manufactured Accommodation
Manufactured Accommodation For personal use only Market Position Long Term Drivers Portable accommodation for the • Major development projects construction and resource industries. • Retiree sector growth – park Headquartered in Perth with operations in homes offer affordable Adelaide, Darwin and Al
Slide 9: Manufactured Accommodation
M Manufactured f t d Accommodation A d ti For personal use only Portable Building Lifestyle Village Transportable Home
Slide 10: Searipple Village – Karratha, WA
Searipple Village – Karratha, WA Manufactured Accommodation For personal use only Village capable of accommodating 1,520 people Take or pay contract with Woodside until June 2010
Slide 11: High Wycombe Manufacturing Facility
gHigh High y Wycombe Wycombe Manufacturing Manufacturing g Facility y For personal use only Facility
Slide 12: Gearing and Interest Cover
Gearing and Interest Cover For personal use only 35% 30 Gearing Times Interest Cover (RHS) 30% 25 25% 20 20% 15 15% 10 10% 5% 5 0% 0 2004 2005 2006 2007 2008 2009
Slide 13: Strong Financial Position
Strong Financial Position For personal use only • Operating cash flow FY08 $60m. 1H09 $28m • Low Gearing - debt to equity 21% (Net Debt / Equity 8%) • Focus on working capital management
Slide 14: Dividends
Dividends For personal use only • Future dividends will be referred to as a combined amount with no further reference to special dividends. j • Subject to ongoing g g profitability, y acquisition opportunities or other major capital expenditure it is expected that future dividends will run at simila
Slide 15: Worsley Alumina
Worsley Alumina For personal use only • $64 $ million contract for 1,350 room village. p • Completion expected p June 2009. • Fleetwood built previous village for Worsley at Collie for the last expansion in 1997. Previous Village constructed for Worsley Alumina in 1997
Slide 16: Impact of Current Economic Environment
Impact p of Current Economic Environment For personal use only Recreational Vehicles Manufactured Accommodation • Caravan production running at • Tender activity on smaller projects approximately pp y 50% of ppre (($2m to $10m)) has slowed. September 2008 level. • Tender activity on major projects •
Slide 17: Outlook: Recreational Vehicles
Outlook For personal use only R Recreational i l Vehicles V hi l • Current economic environment will affect 2009 result. result • Cost C t reduction d ti strategy t t in i all ll RV companies.
Slide 18: Outlook: Manufactured Accommodation
Outlook For personal use only Manufactured Accommodation • High level of occupancy at Searipple Village until at least 2010. • Worsley contract to underpin revenue for 2008/2009. • Several major tenders lodged – Gorgon 3,300 3 300 person construction village – Gorgon offices and anciliary buildings