Fleetwood Limited · ASX:FWD
Fleetwood — Macquarie Western Australia Forum (October 2017)
15 slides from Fleetwood's conference presentation, Oct 9, 2017
Slide 1: Delivering the Promise - Macquarie Western Australia Forum
DELIVERING THE PROMISE Macquarie Western Australia Forum 1
Slide 2: Group Structure
GROUP STRUCTURE Fleetwood is focused on education, affordable housing and recreation 2
Slide 3: Turnaround Plan for Current Operations
TURNAROUND PLAN FOR CURRENT OPERATIONS Significant progress made. Still more to achieve 3 YEARS AGO TODAY WHEN PLAN COMPLETE 3
Slide 4: Financial Performance
FINANCIAL PERFORMANCE Growing revenue and EBIT, reducing capital employed Group Revenue ($m)* Group Underlying EBIT ($m)* 343.8 330.1 312.2 284.5 263.4 14.6 11.1 2.4 2013 2014 2015 2016 2017 2013 2014 2015 2016 2017 -3.9 -2.1 Net Cash (Debt) ($m) Capital Employed ($m) 270.4 269.9 246.0 0.4 3.1 195.5
Slide 5: Financial Performance
FINANCIAL PERFORMANCE Business refocused on growth sectors 45% 40% 35% 30% 25% 20% 15% 10% 5% 0% Education Recreation Resources Affordable Housing Other 2015 2016 2017 5
Slide 6: Key priorities for FY18
Key priorities for FY18 : a Our key internal priorities for FY18 are: + Improving cash-flow management * Generating higher returns across the group + Addressing the two loss making businesses in the group + Diversifying our Modular accommodation business + Capitalising on any sustained resources sec
Slide 7: Recreational Vehicles
RECREATIONAL VEHICLES Revenue 47.4 34.0 29.8 2015 2016 2017 EBIT 2015 2016 2017 -6.7 -7.6 -8.1 - 7
Slide 8: Parts and Accessories
PARTS AND ACCESSORIES Revenue 87.6 86.6 78.2 2015 2016 2017 EBIT 1.3 0.9 0.6 2015 2016 2017 8
Slide 9: Modular Accommodation
MODULAR ACCOMMODATION Revenue 175.8 142.5 116.4 2015 2016 2017 EBIT 15.2 3.6 2015 2016 2017 -3.6 9
Slide 10: Modular Accommodation
MODULAR ACCOMMODATION MODULAR ACCOMMODATION Significant Education, Government and Affordable Housing Demand 10
Slide 11: Village Operations
VILLAGE OPERATIONS Revenue 34.7 30.2 26.3 2015 2016 2017 EBIT 9.0 6.9 5.2 2015 2016 2017 11
Slide 12: Summary
SUMMARY inl Turnaround plan well underway + Board and management changes + Refocused on growth markets + Underperforming operations restructured + Sustained commitment to the RV industry * Cash-flow receiving increased attention + Dividends resumed, large franking balance + Strong balance sheet 12
Slide 13: Appendix 1: Summary Profit and Loss
APPENDIX 1: SUMMARY PROFIT AND LOSS $ million 2017 2016 Change Revenue 330.1 284.5 16% Underlying EBITDA 21.9 7.2 204% Depreciation and Amortisation 7.3 9.3 -22% Underlying EBIT 14.6 -2.1 n/a Finance costs 0.9 1.0 -5% Pre-tax profit 13.7 -3.0 n/a Tax expense (benefit) 4.3 -0.4 n/a Underlying NPAT 9.
Slide 14: Appendix 2: Segment Earnings
APPENDIX 2: SEGMENT EARNINGS $ million 2017 2016 Change Revenue Recreational Vehicles 47.4 29.8 59% Parts and Accessories 87.6 86.6 1% Modular Accommodation 175.8 142.5 23% Village Operations 26.3 30.2 -13% Unallocated 0.3 0.1 n/a Intersegment eliminations -7.3 -4.7 56% Total revenue 330.1 284.5 16%
Slide 15: Appendix 3: Summary Balance Sheet
APPENDIX 3: SUMMARY BALANCE SHEET 2017 2016 2017 2016 Current assets Current liabilities Cash and cash equivalents 5.4 6.1 Trade and other payables 58.8 42.2 Trade and other receivables 65.0 40.6 Interest bearing liabilities 5.0 3.0 Inventories 63.2 49.3 Provisions 5.8 5.6 Assets held for sale 20.2
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