Fleetwood Limited · ASX:FWD
Fleetwood — H1 FY22 Earnings Presentation
16 slides from Fleetwood's earnings presentation, Feb 24, 2022
Slide 1: Half Year Results FY22
For personal use only Half Year Results FY22 FEBRUARY 2022 Fleetwood Australia Half Year Results FY22
Slide 2: Operating Segments
Operating Segments For personal use only COMMUNITY SOLUTIONS WA SA VIC NSW QLD Fleetwood Australia Half Year Results FY22 2
Slide 3: Highlights H1 FY22
Highlights H1 FY22 For personal use only + Underlying EBITA loss of $1.5m + Building Solutions impacted by cost increases on major projects and COVID-19 lockdowns + Community Solutions in line with expectations and H2 FY21 ahead of major project demand + RV Solutions continues to benefit from domest
Slide 4: COVID-19 Update
COVID-19 Update For personal use only + Lockdowns in H1 FY22 had a cumulative impact on our operations with construction site, factories and border barriers all impacting our business + Lifting of restrictions in December introduced a new challenge with the Omicron variant, resulting in further labo
Slide 5: Earnings Summary
Earnings Summary For personal use only + Solid results from RV and Community Solutions, offset by $ Million H1 FY22 H1 FY21 Building Solutions + Building Solutions: Revenue 209.2 169.9 + Two under-performing major contracts EBITDA 6.8 24.4 + COVID-19 shutdowns impacted east coast performance Depreci
Slide 6: Cashflow Summary
Cashflow Summary For personal use only + Prudent management of cash delivered solid $ Million H1 FY22 H1 FY21 cashflow despite operational challenges + Tax payments have recommenced EBITDA 6.8 24.4 + Working capital contained despite revenue Cash outflows from discontinued businesses (0.5) (1.2) gro
Slide 7: Balance Sheet Summary
Balance Sheet Summary For personal use only + Strong cash position $ Million H1 FY22 FY21 + No balance sheet debt. Credit facilities totalling $85m drawn to $23m for performance bonds Net working capital 17.9 35.1 + Significant items. Intangibles $33.6m, working Property Plant and Equipment 40.5 39.
Slide 8: Building Solutions Performance
Building Solutions Performance For personal use only + Revenue of $151m compared with H1 FY21 of $117m $ Million H1 FY22 H1 FY21 + Centres for National Resilience contracts are delivering to expectations and drove revenue growth Revenue 151.4 117.0 in Q2 EBITA (8.5) 4.1 + Two key projects underperfo
Slide 9: Building Solutions Strategy and Outlook
Building Solutions Strategy and Outlook For personal use only Strategy + Lead the Australian modular industry by: + Diversifying and growing our revenue base by leveraging the benefits of modular as an alternative to insitu building + Expand existing industry market segments to increase revenue + Ge
Slide 10: Community Solutions Performance
Community Solutions Performance For personal use only + Community Solutions results similar to H2 FY21 $ Million H1 FY22 H1 FY21 as expected + COVID-19 rosters benefitted H1 FY21 not Revenue 16.4 22.4 repeated this year EBITA 4.7 10.9 + Osprey Village in Port Hedland remains fully occupied with a su
Slide 11: Community Solutions Strategy and Outlook
Community Solutions Strategy and Outlook For personal use only Strategy + Identify select project opportunities as Build, Own, Operate and Transfer + Target sectors include mining, residential and aged care sectors + Building Solutions provides the opportunity to build new villages at a competitive
Slide 12: RV Solutions Performance
RV Solutions Performance For personal use only + OEM and aftermarket segments experienced $ Million H1 FY22 H1 FY21 strong trading conditions + Lockdowns had a limited impact during the half Revenue 41.4 30.6 + Strong aftermarket created demand for parts, EBITA 5.1 3.7 accessories, repairs and renov
Slide 13: RV Solutions Strategy and Outlook
RV Solutions Strategy and Outlook For personal use only Strategy + Expand products and renovations offering in the aftermarket + Commercialise new products such as sandwich panel walls and aluminium frames Outlook + Medium-term outlook remains strong for domestic travel market + Uncertainty surround
Slide 14: Summary and Outlook
Summary and Outlook For personal use only COMMUNITY SOLUTIONS + Two major projects underperformed + Demand for Searipple is expected to + Domestic tourism likely to remain during H1 FY22 strengthen to support significant future strong due to the uncertainty + COVID related challenges also capital pr
Slide 15: Important Notices and Disclaimer
Important Notices and Disclaimer For personal use only 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 securiti
Slide 16: Thank you
Thank you For personal use only Investor Relations T 08 9323 3300 E info@fleetwood.com.au Fleetwood Australia Half Year Results FY22 16