FLE122 Annual Report 2018

Our Year in Review Strategy

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Financial statements

Trend statement

Independent auditor's report

Remuneration report

Governance Statutory disclosures

Corporate directory

Geographic segments

June 2018 NZ$M

June 2018 NZ$M EBIT before significant items

June 2017 NZ$M

June 2017 NZ$M EBIT before significant items

Year ended New Zealand

External sales

External sales

5,220 3,018

(172)

5,381 2,766

282 120

123

Australia

465 314 316 138

43 38

North America

459 296 300 197

48 38

Asia

(6)

Europe

24 50

Other jurisdictions

37

9,471

Group

9,399

525

(168) (118)

Significant items (Note 4)

(252)

Earnings before interest and taxation (EBIT) per income statement

273

Non-current assets +

Non-current assets +

Funds* 2,006 1,810

Funds* 2,428 1,787

New Zealand

1,517 1,420

1,577 1,426

Australia

North America

319 458 315

298 425 271

350 492 270 199

306 466 354

Asia

Europe

Other

48

43

61

Debt and taxation

(985)

(1,822)

Group

4,077

4,040

4,142

3,580

+ Excludes deferred tax assets, retirement plan surplus and financial instruments. * Funds represent the external assets and liabilities of the Group and are used for internal reporting purposes.

Description of industry segments The following is based on the Group's new divisional structure announced on 21 June 2018.

Building Products

The Building Products division is a manufacturer, distributor, and marketer of building products used both commercially and in residential markets in New Zealand. The Distribution division consists of building and plumbing distribution businesses in New Zealand. The Steel division consists of steel manufacture and distribution businesses in New Zealand.

Distribution

Steel

Concrete The Concrete division includes the Group's interests in the concrete value chain, including extraction of aggregates, and the production of cement and concrete. The division operates in New Zealand. Residential and Development The Residential and Development division operates in New Zealand and is both a residential home builder and develops and sells mainly commercial sites within the Group's property portfolio which are surplus to operating requirements. Construction The Construction division is a builder and maintainer of commercial buildings and infrastructure across New Zealand and the South Pacific. Australia The Australia division manufactures and distributes building materials for a broad range of industries across Australia. Formica and Roof Tile Group Formica is a leading provider of branded, designed surfacing solutions in North America, Europe, and Asia, while Roof Tile Group manufactures metal roof tiles, under the Gerard and Decra brands across the world. Divested businesses Divested businesses comprise the Group's 50% interest in Sims Pacific Metals and 20% interest in Dongwha New Zealand Limited both of which were divested during the year.

65 Fletcher Building Limited Annual Report 2018

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