Slide 1: Full Year Results FY20
Full Year Results FY20 AUGUST 2020 Fleetwood Australia Full Year Results FY20
Slide 2: Operating Segments
Operating Segments ACCOMMODATION SOLUTIONS WA SA VIC NSW QLD Fleetwood Australia Full Year Results FY20 2
Slide 3: Highlights FY20
Highlights FY20 + Underlying EBITA of $22.3m + $65.7m in net cash + Dividends reinstated + Special dividend to return caravan manufacturing capital to shareholders COVID-19 Impact + Changes in FIFO rosters and increased shutdown volume provided upside in Accommodation Solutions + Despite reduced dem
Slide 4: Forward Outlook
Forward Outlook ACCOMMODATION SOLUTIONS + Building Solutions pipeline of + Return to traditional rostering + Current trading conditions are opportunities is at an all time high arrangements and additional village difficult in RV Solutions + Demand from the Government capacity should see Accommodatio
Slide 5: Group Earnings Summary
Group Earnings Summary + Government demand remains strong $ MILLION FY20 FY19 Change in Building Solutions + Accommodation Solutions benefited Revenue 329.9 315.3 5% from increased customer activity EBITDA 38.2 34.4 11% levels in the Pilbara Depreciation 15.9 9.1 75% + Solid RV Solutions result give
Slide 6: Segment Performance
Segment Performance Building Accommodation RV Solutions Solutions Solutions EBITA EBITA EBITA FY20 FY19 FY20 FY19 FY20 FY19 Revenue 230.6 209.4 Revenue 43.6 37.0 Revenue 64.5 72.8 EBITA 6.6 12.6 EBITA 16.2 11.5 EBITA 3.7 5.7 + Government demand remains + COVID-19 related roster changes + Local OEM p
Slide 7: Cashflow Summary
Cashflow Summary + Working capital benefit of $6m in FY20 FY19 advance contract payments + Net cash of $65.7m EBITDA 38.2 34.4 + Tax payments to remain low in FY21 Cash outflows from discontinued businesses (0.3) (5.2) + Searipple dining room renovation in FY20 Interest paid (net) (0.5) (0.7) + FY20
Slide 8: Balance Sheet Summary
Balance Sheet Summary + Net working capital lower due to advance FY20 FY19 contract payments in Building Solutions and close management in RV Solutions Net working capital 18.7 27.8 + Strong cash position Property Plant and Equipment 45.0 48.4 + No debt. Credit facilities totalling $65m Intangibles
Slide 9: Forward Strategy
Forward Strategy BUILDING ACCOMMODATION RV SOLUTIONS SOLUTIONS SOLUTIONS Fleetwood has successfully Developing a larger underlying base Diversifying sources of revenue commenced adapting traditional from Accommodation Solutions will in the RV Solutions business will areas of the construction industr
Slide 10: Building Solutions Capacity Aligned to Announced Spend
Building Solutions Capacity Aligned to Announced Spend Over the last eight years, CAPACITY CAPACITY Fleetwood has grown in this INDIGENOUS HOUSING No exposure FY20 SCHOOL SPEND UP TO 5ha in Crestmead, segment (both organically and by $1.2bn OVER 10 YRS long term presently $1.1bn acquisition) to beco
Slide 11: Building Solutions Competitive Advantage
Building Solutions Competitive Advantage In-house Architectural Design + Allows deep engagement with clients at concept, budget or FEED stage + Provide services to assist scoping or setting out projects + Ultimate request for tender can include Fleetwood design elements Advanced Manufacturing Techni
Slide 12: Building Solutions Mass Customisation Example
Building Solutions Mass Customisation Example + The two projects below are based on the same “kit of parts”, just configured differently. Results in significant manufacturing efficiencies and speed to market Two storey open plan layout Three storey configuration FAIRFIELD PRIMARY SCHOOL ELWOOD COLLE
Slide 13: Accommodations Solutions Overview of Karratha/Dampier Market
Accommodations Solutions Overview of Karratha/Dampier Market 6000 5000 Construction (potential) + 2,750 = 5,250 4000 Planned + 1,200 = 4,200 3000 Current 3,000 Shutdown 2000 + 1,000 = 2,500 Operational 1000 1,500 Demand Supply Fleetwood Australia Full Year Results FY20 Source: Management estimates 1
Slide 14: Accommodation Solutions Expansion Strategy
Accommodation Solutions Expansion Strategy + Expanding our footprint in this segment will improve Fleetwood’s overall quality of earnings + Fleetwood’s modular business provides the ability to develop new villages at a competitive cost + Bidding projects as Build, Own, Operate Fleetwood Australia Fu
Slide 15: RV Solutions Competitive Advantage
RV Solutions Competitive Advantage + The RV market is undergoing structural change and is facing the + Our strategy in response to these trends is: threat of increasing imports + To embed further into the OEM caravan manufacturing base + As industry concentration increases, this is providing the thr
Slide 16: Impact of AASB-16 (Lease Accounting)
Appendix Impact of AASB-16 (Lease Accounting) FY20 FY20 FY19 $ MILLION Statutory AASB16 Ex AASB16 Statutory Change Revenue 329.9 329.9 315.3 5% EBITDA 38.2 7.5 30.6 34.4 -11% Depreciation 15.9 7.1 8.8 9.1 -3% EBITA 22.3 0.5 21.8 25.3 -14% Amortisation of contract intangible 4.2 4.2 3.1 36% Finance c
Slide 17: MBI Awards of Distinction
Appendix MBI Awards of Distinction Fleetwood Australia Full Year Results FY20 Source: CIA 17
Slide 18: MBI Awards of Distinction
Appendix MBI Awards of Distinction Fleetwood Australia Full Year Results FY20 Source: CIA 18
Slide 19: MBI Awards of Distinction
Appendix MBI Awards of Distinction Fleetwood Australia Full Year Results FY20 Source: CIA 19
Slide 20: MBI Awards of Distinction
Appendix MBI Awards of Distinction Fleetwood Australia Full Year Results FY20 Source: CIA 20
Slide 21: Important Notices and Disclaimer
Important Notices and Disclaimer The information contained in this presentation is provided by Fleetwood Corporation 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 nei
Slide 22: Thank you
Thank you Investor Relations T 08 9323 3300 E info@fleetwood.com.au Fleetwood Australia Full Year Results FY20 22