Fleetwood Limited · ASX:FWD
Fleetwood — Shareholder Meeting (November 2021)
20 slides from Fleetwood's shareholder meeting presentation, Nov 17, 2021
Slide 1: 2021 AGM Chairman's Address & CEO Presentation
17 November 2021 2021 AGM CHAIRMAN’S ADDRESS & CEO PRESENTATION In accordance with ASX Listing Rule 3.13.3, attached are presentations to be delivered by the Chairman, John Klepec, and the Chief Executive Officer, Bruce Nicholson, at Fleetwood Limited’s Annual General Meeting commencing at 9.00am AW
Slide 2: Chairman's Address
CHAIRMAN’S ADDRESS Good morning ladies and gentlemen and welcome to the 2021 Annual General Meeting. My name is John Klepec and I am the Chair of Fleetwood Limited. We have a quorum, so I declare the meeting open. Today’s meeting is being held online via the Lumi platform. This allows Shareholders,
Slide 3: Voting and Directors Introduction
Voting today will be conducted by way of a poll on all items of business. In order to provide you with enough time to vote, and in case you are not able to stay for the full meeting, I will shortly open voting for all resolutions. If you are eligible to vote at this meeting, a new voting tab will ap
Slide 4: CEO Background and Appointment
Following Brad’s departure, we were able to recruit Bruce Nicholson as CEO effective 1 July 2021. Bruce is a civil engineer by profession and experienced building and construction materials executive who was most recently the CEO and Managing Director of Waco Kwikform Group, a leading supplier of sc
Slide 5: Chief Executive Officer's Presentation
CHIEF EXECUTIVE OFFICER’S PRESENTATION Thank you, John. It is fair to say that my time as the CEO of Fleetwood has been an unusual one given that the first four months have been conducted under stay-at-home orders. Thankfully, we now appear to be on the path out of restrictions and a return to norma
Slide 6: The balance sheet remains strong
Searipple benefitted from COVID-19 related rostering changes in the first half, which subsequently returned to more normal occupancy patterns for the remainder of the year. The second half also saw a full six-month impact of increased room supply in the Karratha market. Cash levels were $57.6 millio
Slide 7: Operational Outlook by Business
transfer of equipment and material over state borders, affecting our operations across the east coast. Unfortunately, we have also seen margin slippage on two key projects and have completed detailed risk assessments and costs to complete to ring-fence the impact of these projects to the first half
Slide 8: Fleetwood's strong balance sheet
out (FIFO) rooms over the medium term. The general housing shortage has also triggered discussions regarding the development of new affordable accommodation solutions. Accommodation Solutions management remain actively engaged in business development opportunities to meet this growing area of intere
Slide 9: Summary and Handback
making. Specifically, we expect to see this progress projects that have remained in the tender phase for Building Solutions and allow project decisions that directly impact demand for Accommodation Solutions. With RV Solutions already witnessing increased sales, the outlook for 2H FY22 should see a
Slide 10: Annual General Meeting
Annual General Meeting 2021 17 November 2021 Fleetwood Australia 2021 Annual General Meeting
Slide 11: Operating Segments
Operating Segments ACCOMMODATION SOLUTIONS WA SA VIC Communities NSW QLD Fleetwood Australia 2021 Annual General Meeting
Slide 12: Highlights FY21
Highlights FY21 + Building Solutions EBIT of $9.6m on revenue of $249m (up 46%) » Strong operational performance in Victoria and Western Australia driven by education, mining and housing sectors » Some ongoing operational integration issues in New South Wales + Accommodation Solutions EBIT of $14.6m
Slide 13: Highlights FY21
Highlights FY21 + Fleetwood finished FY21 with a strong balance sheet - $57.6m in net cash + Dividend payout ratio of 100% (NPATA basis) » Final Dividend of 10.5 cps » Full Year Dividend of 16.5 cps + 20 cps of franking credits remain available to the company in the future Petrie Terrace State Schoo
Slide 14: COVID-19 Update
COVID-19 Update + Extended lockdowns have had a material impact on the Fleetwood business + Ongoing prudent management of cash + Key success with the Federal Government's Centres for National Resilience during this period + Forward order book and tender pipeline remains strong Fleetwood manufacturin
Slide 15: Building Solutions Performance
Building Solutions Performance + Projects and Supply chain impacted initially in NSW which then expanded to VIC + Minor disruption also experienced in QLD with client decisions slowing + Projects have largely continued uninterrupted in WA and SA + Two key projects delivering below expectations + Del
Slide 16: Accommodation Solutions Performance
Accommodation Solutions Performance + WA State Government determination to protect the resources industry in the North West + Demand for accommodation services is expected to remain strong in coming years to support significant capital investment in the region + Beyond the resources industry, Accomm
Slide 17: RV Solutions Performance
RV Solutions Performance + After a strong start, lockdowns in NSW and Victoria saw demand slow + A reluctance for international travel is likely to remain for some time + Lifting State travel restrictions should see continued improvement over the remainder of the year + Foot traffic declined during
Slide 18: Summary and Outlook
Summary and Outlook ACCOMMODATION SOLUTIONS + Delays to projects due to COVID-19 + Mandatory vaccines for FIFO workers + Strong domestic travel likely to starting to be removed should minimise disruption now resume with the reopening of States but international travel still curtailed + Well placed t
Slide 19: 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 20: Thank you
Thank you Investor Relations T 08 9323 3300 E info@fleetwood.com.au Fleetwood Australia 2021 Annual General Meeting