Fletcher Building Limited · NZX:FBU
Fletcher Building — Shareholder Meeting (2001)
37 slides from Fletcher Building's shareholder meeting presentation, 2001
Slide 1: Annual Shareholders' Meeting 2001
&, Building Annual Shareholders' Meeting 2001
Slide 2: Annual Shareholders' Meeting 2001
&, Building Annual Shareholders' Meeting 2001
Slide 3: Chairman's Address, Resolutions, CEO's Address
Chairman's Address Resolutions CEO's Address Recent Trading and Outlook General Business
Slide 4: Fletcher
~ Fletcher —
Slide 5: March to November 2001
24 March to 9 November 2001 2.80 2.70 2.60 2.50 2.40 2.30 2.20 2.10 2.00 APRON MAY OF JUN SI UL 0 AUG Oo} af Octo
Slide 6: Fletcher
~ Fletcher —
Slide 7: Aggressive performance improvement
Aggressive performance improvement Business portfolio re-alignment ~~ Growth opportunities actioned when operational performance merits it
Slide 8: Changes to past policies and practices
~~ Changes to past policies and practices ~~ Areview of key supplier arrangements ~~ Agreater reliance on self-sufficiency ~~ Board conducting on-site operational reviews
Slide 9: $31 million of fixed assets and investments divested
$31 million of fixed assets and investments divested up to 30 June - ~ Further sales since June releasing a further $30 million
Slide 10: Growth initiatives pursued with vigour
~~ Growth initiatives pursued with vigour within existing business units ~~ Growth opportunities arising from acquisition or merger - ~ Stringent criteria, including to exceed the cost of capital
Slide 11: Results
~ Fletcher — Results
Slide 12: In summary
In summary PRO FORMA 24 MARCH TO 12 MONTHS 12 MONTHS SMILLION 30 JUNE 2001 JUNE 2001 JUNE 2000 Operating revenue 696 2,273 2,380 EBIT before unusual items 42 94 170 Cash flow from operations 159 251 133 Net earnings before unusual items 22 34 106 Net earnings 19 (272) 63
Slide 13: Resolutions
~ Fletcher — Resolutions
Slide 14: CEO's Address - Ralph Waters
~ Fletcher Annual Shareholders' Meeting 2001 Ralph Waters Chief Executive Officer
Slide 15: Four major lines of business...
Four major lines of business... ite == a a = xe cS eee or — at 7 ae se 7 y A yi Hee” Canectriictinn ore ee Ta, | —. ile
Slide 16: Building Products
Building Products tM hh Ah blll, ‘\ e 0 ae
Slide 17: Earnings reduced by slump in residential activity
Earnings reduced by slump in residential activity 24 MARCH TO 12 MONTHS 12 MONTHS $MILLION 30 JUNE 2001 JUNE 2001 JUNE 2000 Operating revenue 232 840 852 EBITDA 26 96 120 EBIT 16 58 87 Total funds employed 450 450 510 Capital expenditure 4 24 29
Slide 18: Concrete
Concrete
Slide 19: Softer demand for aggregates and concrete pipes
Softer demand for aggregates and concrete pipes, along with increased costs PRO FORMA 24 MARCH TO 12 MONTHS 12 MONTHS $MILLION 30 JUNE 2001 JUNE 2001 JUNE 2000 Operating revenue 142 454 438 EBITDA 26 70 95 EBIT Total funds employed Capital expenditure
Slide 20: Construction
Construction te a Mf, y gid
Slide 21: EBIT reduced by soft market conditions
EBIT reduced by soft market conditions PRO FORMA 24 MARCH TO 12 MONTHS 12 MONTHS $MILLION 30 JUNE 2001 JUNE 2001 JUNE 2000 Operating revenue EBITDA EBIT Total funds employed Capital expenditure
Slide 22: Distribution
Distribution
Slide 23: A solid performance in a difficult year
A solid performance in a difficult year PRO FORMA 24 MARCH TO 12 MONTHS 12 MONTHS $MILLION 30 JUNE 2001 JUNE 2001 JUNE 2000 Operating revenue 45 171 223 EBITDA 5 13 15 EBIT 4 6 8 Total funds employed Capital expenditure
Slide 24: Fletcher
~ Fletcher —
Slide 25: Performance Improvement - Groupwide
Performance Improvement - Groupwide - decision-making and accountability - reducing costs ~~ Performance Improvement - Operations - Steel - Auckland aggregates and readymix - South America
Slide 26: Portfolio Issues
Portfolio Issues - Steel - South America - Others under review ~~ Growth - Several initiatives at different stages of development - Assessment processes to ensure focus
Slide 27: Growth - Infrastructure
Growth - Infrastructure
Slide 28: Growth - Wood Panels
Growth - Wood Panels
Slide 29: Developing and launching the Seratone Metallics range
Developing and launching the Seratone Metallics range
Slide 30: Growth - Wood Panels
Growth - Wood Panels Launching a new high-value fibreboard product - Armour HDM
Slide 31: Growth - PipeWorks
Growth - PipeWorks Introducing a new approach to pipeline rehabilitation
Slide 32: Continuing growth in high-value performance boards
Continuing growth in high-value performance boards
Slide 33: Recent Trading and Outlook
~ Fletcher —
Slide 34: Nearly all our businesses have traded better
Nearly all our businesses have traded better than for the same period last year Biggest improvers include Upstream Steel and South America -~ Power prices affected some operations, but most trading ahead of budget
Slide 35: Benefit from any increase in infrastructure spending
- ~ Benefit from any increase in infrastructure spending Substantial backlog in Construction, drawing other products through ~~ Little exposure to international demand ~~ Unaudited first quarter EBIT of $35.9m
Slide 36: General Business
~ Fletcher — General Business
Slide 37: Fletcher
~ Fletcher —