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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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