Slide 1: Investor Briefing May 2008
For personal use only Investor Briefing y 2008 May
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
Market Capitalisation $m 500 For personal use only Market Capitalisation Currently $430m 450 Fleetwood Evolution Amalgamated g Rainbow Western Portables Acquired and Durabuilt to 400 form Fleetwood Pty Ltd 350 Car‐Van and Searipple Windsor Woodside 300 Acquired Searipple Expansion 250 Campervans Dur
Slide 4: Recreational Vehicles: Coromal
Recreational Vehicles Coromal For personal use only
Slide 5: Recreational Vehicles: Flexiglass
Recreational Vehicles Flexiglass For personal use only
Slide 6: Recreational Vehicles: Market Position and Long Term Drivers
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 7: Recreational Vehicles Gross Profit
Recreational Vehicles Gross Profit For personal use only 6 Months to Dec ember 2007 F lex iglas g s 19% W inds or 7% C amec 54% C oromal 20%
Slide 8: Manufactured Accommodation
M Manufactured f t d Accommodation A d ti For personal use only Portable Building Lifestyle Village Transportable Home
Slide 9: Manufactured Accommodation: Market Position and Long Term Drivers
Manufactured Accommodation For personal use only Market Position Long Term Drivers Portable accommodation for the • Major development projects construction and resource industries. in WA, SA & NT Headquartered in Perth with operations in • Retiree sector growth – park Adelaide, Darwin and Alice Spri
Slide 10: Manufactured Accommodation Gross Profit
Manufactured Accommodation Gross Profit For personal use only 6 Months to Dec ember 2007 Trans portables R ental 1% 12% P ortables 33% P ark Homes 17% S earipple 37%
Slide 11: Searipple Village
For personal use only Searipple Village
Slide 12: Searipple Village - Karratha
Searipple Village - Karratha For personal use only • 1,400 rooms in total. • 800 rooms contracted to Woodside under take or pay p y arrangements until June 2010 (approximately $58m revenue).) • Village generates substantial EBIT margin at approximately 40% of revenue. • Further expansion by around 1
Slide 13: Worsley Alumina Upgrade
Worsley Alumina Upgrade For personal use only • Awarded $48$ million contract for 1,040 room village. • Contract to be increased to 1,350 rooms. • Fleetwood built previous village for Worsley at Collie for the last expansion in 1997.
Slide 14: First Half 2008
First Half 2008 Coromal Caravans For personal use only Revenue up 1% to $160m Windsor Caravans EBIT up 23% to $24 Recreational Vehicles NPAT up 25% to $16m p EBIT 45% of Group Camec Fleetwood Flexiglass Corporation Limited Fleetwood Manufactured Accommodation 55% of Group EBIT Rainbow
Slide 15: First Half 2008 Revenue and NPAT
First Half 2008 For personal use only Revenue NPAT $160m $16m Flexiglass Flexiglass Windsor Coromal Windsor Manufactured Accommodation Coromal Camec Manufactured Accommodation Camec
Slide 16: Strong Financial Position
Strong Financial Position For personal use only • Operating cash flow to June 2007 $40m, YTD December 2007 $26m. • Low Gearing (Net Debt / Equity) 6%. • Focus F on working ki capital it l managementt – Current Ratio (Current Assets to Current Liabilities) 1.75:1.
Slide 17: Special Dividends
Special Dividends For personal use only • Special dividends to continue for a further 2 years. j • Subject to acquisition q opportunities pp or other major j capital expenditure. • Attractive yield at approximately 8% fully franked.
Slide 18: Outlook: Recreational Vehicles
Outlook For personal use only R Recreational i l Vehicles V hi l • Expect slower growth in the next 12 months. months • Order book is still solid • Extract E t t iimproved d returns t from f all ll RV companies.
Slide 19: Windsor - New Factory
Windsor – New Factory For personal use only • Current factory produces 17 vans per week. y will be capable • New facility p of p producing g 35 p per week. • Purpose built single shed. • Located close to existing factory. • Strengthen dealer network and introduce single franchise dealerships.
Slide 20: Outlook: Manufactured Accommodation
Outlook For personal use only M Manufactured f t d Accommodation A d ti • High activity level to remain for immediate future. • High level utilisation of Searipple Village until at l leastt 2010. 2010 • Latest contract to underpin revenue for 2008/2009. 2008/2009 • Park home activity levels to impro