Full Year 2026 Fleetwood Ltd Earnings Call Transcript
Key Points
- Community Solutions delivered record EBIT of $50 million, driven by 96% occupancy at Sea Ripple Village.
- Strong cash generation with operating cash flow of $63.9 million and free cash flow up 33% to $35.9 million.
- Balance sheet remains robust with $61.5 million in cash and no debt, supporting a fully franked final dividend of $0.095 per share.
- Acquisition of Red Dog Village is expected to add $10-20 million in annualized EBIT, expanding capacity in the Pilbara.
- Building Solutions enters FY27 with a strong order book of $156 million and over $200 million in tendered projects, with revenue expected to grow at least 5%.
- Building Solutions reported a loss of $8.7 million due to margin compression and project scoping issues.
- Underlying EBIT declined slightly to $35.6 million, impacted by softer conditions in Building Solutions and the exit from RV Solutions.
- Revenue fell 6% to $475 million, reflecting lower Building Solutions activity and the planned exit from RV Solutions.
- Non-recurring restructuring costs of $29.6 million weighed on statutory results, reducing reported EBIT to $6 million.
- Building Solutions' first-half FY27 is expected to be breakeven to slightly positive, with legacy project issues persisting into Q2.
Thank you for standing by and welcome to the Fleetwood Limited full-year FY26 financial results market briefing. (Operator Instructions) And finally, I would like to advise all participants that this call is being recorded.
I'd now like to welcome Andrea Pidcock, CEO, to begin the presentation. Andrea, over to you.
Thanks. Good morning and thank you for joining us for today's annual results briefing.
Before we begin, I'd like to remind everyone of the usual disclaimers and in particular that any forward-looking statements are based on assumptions which are subject to change.
I'm Andrea Pidcock, Chief Executive Officer of Fleetwood, and I'm joined by Kate Chandler, our Chief Financial Officer.
I'll start with a brief overview of our FY26 highlights, and Kate will take us through the financial results. Then I'll give some more details of segment performance and outlook.
FY '26 was a year of decisive action for Fleetwood. Over the past six months as CEO, my
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