Interim Financial Results 2026 Fletcher Building Industries Limited Interim Financial Statements Income statement For the six months ended 31 December 2025
Note
Unaudited Six months Dec 2025 NZ'$000
Unaudited Six months Dec 2024 NZ'$000
Audited Year ended Jun 2025 NZ'$000
Share of (losses)/profits of associate | 5 | (3,657) | 17,463 | (6,059) |
(Losses)/earnings before interest and taxation | (3,657) | 17,463 | (6,059) | |
Interest expense | (10,558) | (12,542) | (23,728) | |
Interest income | 9,849 | 12,034 | 22,843 | |
Funding costs | (709) | (508) | (885) | |
(Losses)/earnings before taxation | (4,366) | 16,955 | (6,944) | |
Taxation benefit | 2 | 198 | 142 | 247 |
Net (losses)/earnings | (4,168) | 17,097 | (6,697) | |
Note
Unaudited Six months Dec 2025 NZ'$000
Unaudited Six months Dec 2024 NZ'$000
Audited Year ended Jun 2025 NZ'$000
Net (losses)/earnings | (4,168) | 17,097 | (6,697) |
Share of associate's other 5 comprehensive income | 146 | 331 | 2 |
Total comprehensive (losses)/income | (4,022) | 17,428 | (6,695) |
Unaudited Six months | Unaudited Six months | Audited Year ended | |
Dec 2025 | Dec 2024 | Jun 2025 | |
Note | NZ'$000 | NZ'$000 | NZ'$000 |
Total equity at the beginning of the period | 653,600 | 660,295 660,295 |
Total comprehensive (losses)/income | (4,022) | 17,428 (6,695) |
Total equity | 649,578 | 677,723 653,600 |
The accompanying notes form part of and are to be read in conjunction with these interim financial statements.
Balance sheet As at 31 December 2025Assets Note
Unaudited As at Dec 2025
NZ'$000
Unaudited As at Dec 2024
NZ'$000
Audited As at Jun 2025
NZ'$000
Current assets: | ||||
Amounts owed by related companies | 4 | 106,198 | 107,350 | 106,184 |
Current taxation asset | 446 | 658 | 247 | |
Total current assets | 106,644 | 108,008 | 106,431 | |
Non-current assets: | ||||
Amounts owed by related companies | 4 | 260,365 | 360,933 | 261,086 |
Investment in associate | 5 | 688,756 | 716,118 | 692,267 |
Total non-current assets | 949,121 | 1,077,051 | 953,353 | |
Total assets | 1,055,765 | 1,185,059 | 1,059,784 | |
Liabilities | ||||
Current liabilities: | ||||
Accrued interest | 6,198 | 7,350 | 6,198 | |
Capital notes | 4 | 100,000 | 100,000 | 99,986 |
Total current liabilities | 106,198 | 107,350 | 106,184 | |
Non-current liabilities: | ||||
Capital notes | 4 | 299,989 | 399,986 | 300,000 |
Total non-current liabilities | 299,989 | 399,986 | 300,000 | |
Total liabilities | 406,187 | 507,336 | 406,184 | |
Equity | ||||
Share capital | 346,000 | 346,000 | 346,000 | |
Reserves | 303,578 | 331,723 | 307,600 | |
Total equity | 649,578 | 677,723 | 653,600 | |
Total liabilities and equity | 1,055,765 | 1,185,059 | 1,059,784 | |
The accompanying notes form part of and are to be read in conjunction with these interim financial statements. On behalf of the Board, 18 February 2026.
Peter Crowley
Chair
Sandra Dodds
Director
Statement of cash flows For the six months ended 31 December 2025Note
Unaudited Six months Dec 2025 NZ'$000
Unaudited Six months Dec 2024 NZ'$000
Audited Year ended Jun 2025 NZ'$000
Cash flow from operating activities: | ||||
Interest paid | (10,556) | (12,539) | (24,876) | |
Interest received from related parties | 9,849 | 12,034 | 22,843 | |
Net cash from operating activities | 7 | (707) | (505) | (2,033) |
Cash flow from financing activities: | ||||
Collection of advances from related companies | 707 | 505 | 102,033 | |
Issue of capital notes | ||||
Redemption of capital notes | (100,000) | |||
Net cash from financing activities | 707 | 505 | 2,033 | |
Net movement in cash held | ||||
Add opening cash and liquid deposits | ||||
Closing cash and liquid deposits | ||||
CORPORATE INFORMATION
The condensed interim financial statements presented are those of Fletcher Building Industries Limited (the "Company"). The Company is domiciled in New Zealand, registered under the Companies Act 1993. The Company is a FMC Reporting Entity under the Financial Markets Conduct Act 2013. The registered office of the Company is 810 Great South Road, Penrose, Auckland. The Company is a for-profit entity. The Company is listed on, and its debt securities are quoted on, the NZX Debt Market (NZDX) operated by NZX.
Basis of presentation
The interim financial statements have been prepared in accordance with Generally Accepted Accounting Practice in New Zealand and the requirements of the Financial Markets Conduct Act 2013.
The interim financial statements comply with NZ IAS 34 and IAS 34 Interim Financial Reporting and do not include all the information and disclosures required in the annual financial statements and should be read in conjunction with Fletcher Building Limited
and Fletcher Building Industries Limited's 2025 audited annual financial statements for the year ended 30 June 2025 available at https://www.fletcherbuilding.com.
The accounting policies have been applied consistently by the Group and are in line with prior year.
Unaudited Six months
Unaudited Six months
Audited Year ended
Dec 2025
Dec 2024
Jun 2025
NZ'$000
NZ'$000
NZ'$000
Where necessary, certain comparative information has been reclassified to conform to changes in presentation in the current year.
TAXATION BENEFIT
(Losses)/Earnings before taxation
(4,366)
16,955 (6,944)
Taxation at 28 cents per dollar
1,222
(4,747) 1,944
Adjusted for
Non-accessible (losses)/income
(1,024)
4,889 (1,697)
198
142 247
CONTINGENCIES AND COMMITMENTS
There were no contingent liabilities or capital commitments as at 31 December 2025 (31 December 2024: nil; 30 June 2025: nil).
FAIR VALUE MEASUREMENT
The estimated fair values of the Company's financial assets and liabilities compared to their carrying values in the balance sheet, are as follows:
Dec 2025 (Unaudited) Jun 2025 (Audited)
Classifications
Carrying
value NZ'$000
Fair value NZ'$000
Carrying
value NZ'$000
Fair value NZ'$000
Capital notes | Amortised cost | 399,989 | 400,556 | 399,986 | 389,980 |
Amounts owing by related companies | Amortised cost | 366,564 | 366,564 | 367,270 | 367,270 |
Fair value measurement
No financial instruments are measured and recognised at fair value.
Fair value disclosures
The fair values of borrowings used for disclosure are measured under Level 2, by discounting future principal and interest cash flows at the current market interest rate that are available for similar financial instruments.
Level 1 Quoted prices (unadjusted) in active markets for identical assets or liabilities.
Level 2 Inputs that are observable for the asset or liability, either directly (as prices) or indirectly (derived from prices) other than quoted prices included within Level 1.
Level 3 Inputs for the asset or liability that are not based on observable market data (unobservable inputs).