FLE122 Annual Report 2018

Our Year in Review Strategy

Our Leadership

Divisions

Business Sustainability

Financials and Governance

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Building Products

Distribution

Steel

Concrete

Residential and Development

Construction Australia

Formica and Roof Tile Group

Divisions

Group Performance

Fletcher Building posted underlying operating earnings of $710 million 1

Year ended 30 June 2018 NZ$m

Year ended 30 June 2017 NZ$m

Change %

Reported results

Total revenue

9,471

9,399

1%

50

525

(90%) (33%)

Operating earnings before significant items 1

Significant items

(168) (118) (157) (275)

(252)

Operating earnings (EBIT)

273

NM

Funding costs

(111)

41%

Earnings/(loss) before tax Tax benefit/(expense) Earnings/(loss) after tax Non-controlling interests

162

NM NM NM 0% NM NM

96

(57)

(179)

105

(11)

(11)

Net earnings/(loss)

(190)

94

(60)

321

Net earnings/(loss) before significant items 1

Basic earnings/(loss) per share (cents) Dividends declared per share (cents) Cash flows from operating activities

(25.5)

13.5 39.0 243 319

NM NM

0.0

396 304

63%

Capital expenditure

(5%)

50

525

(90%)

Operating earnings before significant items 1

(660)

(292)

NM

B+I

710

817

(13%)

Operating earnings (excluding B+I) before significant items 1

1 Measures (excluding B+I) before significant items are non-GAAP measures used by management to assess the performance of the business and have been derived from Fletcher Building Limited’s financial statements for the year ended 30 June 2018.

Revenue

Year ended 30 June 2018 NZ$m

Year ended 30 June 2017 NZ$m

Change %

Building Products

764

745

3% 1% 8% 4%

Distribution

1,530

1,519

Steel

532 812 575

491 781 420

Concrete

Residential and Development

37%

Construction

1,685 3,076 1,177

2,246 2,858 1,120

(25%)

Australia

8% 5%

Formica and Roof Tile Group

Divested businesses

108

78

38%

Other

8

9

(11%)

Gross revenue

10,267

10,267

0%

Less intercompany sales Group external revenue

(796)

(868)

(9%)

9,471

9,399

1%

18 Fletcher Building Limited Annual Report 2018

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