Fletcher Building Limited · NZX:FBU
Fletcher Building — Investor Day (June 2023)
9 slides from Fletcher Building's investor day presentation, June 2023
Slide 1: Residential and Development
Residential and Development Steve Evans, CE Fletcher Building Limited
Slide 2: Leading developer with strong reputation for quality build
Residential & Development Leading developer with strong reputation for quality build ▪ Developer of residential homes & communities, apartments & retirement living units in Auckland & Christchurch markets ▪ Only remaining at scale OSM supplier in New Zealand; projects located in market with the most
Slide 3: Ability to flex scale & typology in proven locations where most depth of market
Residential & Development Ability to flex scale & typology in proven locations where most depth of market; strong land bank positions Key financial metrics Strong attributes and skillset established 2501 c.19% ROFE 21.4% c.23.4% ▪ Developments in strong / well-proven locations. Good EBIT2 margin 20.
Slide 4: Pragmatically positioned for market reality with price points and locations in deepest part of market
Residential & Development Pragmatically positioned for market reality with price points and locations in deepest part of market; targeting c.700-800 unit sales in FY24 with average YoY margins likely to contract before recovery in FY25 Distribution of FY23F residential unit sales Managing well throu
Slide 5: Managing medium term performance with good disciplines in place
Residential & Development Managing medium term performance with good disciplines in place FLETCHER ▪ Continuing to deliver valued communities with new and existing home typologies, focusing on LIVING below median price products in strong demand locations. Volumes to lift when market turns VIVID ▪ Co
Slide 6: Raw land to new community - Waiata Shores continues to deliver 100+ homes p.a.
Residential & Development Raw land to new community - Waiata Shores continues to deliver 100+ homes p.a. How we are driving performance ▪ Community has gained strength, with part of site sold to Progressive Enterprises has delivered a supermarket & medical centre, both now open ▪ As Waiata Shores be
Slide 7: Maintaining control of funds invested until housing market recovers
Residential & Development Maintaining control of funds invested until housing market recovers; well- positioned to drive significant growth Flex to market conditions, ready to go when market returns ▪ Current market supports c.700-800 unit sales p.a. without cannibalising price ▪ Strong brand & mark
Slide 8: Partnering with iwi and government gives access to more land
Residential & Development Partnering with iwi and government gives access to more land, and leads to great outcomes How we are driving performance Okahukura Tauoma ▪ Having partnerships with government & iwi allows access to previously unavailable land ▪ Partnerships are long term, with multiple pro
Slide 9: Resilient business model with ability to navigate TTC and strong portfolio of initiatives
Residential & Development Resilient business model with ability to navigate TTC and with a strong portfolio of initiatives to drive sustainable growth ▪ Holding market volume delivery through the bottom of the cycle ▪ Management of funds through build and development WIP but TTC RESILIENCE using the