Fletcher Building reported a NZD 228 million net profit for the financial year ended June 2026, reversing a NZD 419 million loss in FY2025, as the construction materials group completed the first stage of its turnaround plan.
Revenue from continuing operations increased 7.3% year-on-year to NZD 6.0 billion, while earnings before interest and tax before significant items rose 26% to NZD 414 million. Excluding property sales, EBIT climbed 11% to NZD 362 million. Earnings per share reached NZD 0.212, compared with a loss in the prior year. Operating cash flow surged to NZD 715 million from NZD 214 million, and net debt declined to NZD 637 million from NZD 999 million, bringing leverage within the target range of NZD 400 million to NZD 900 million.
المجموعةilishorstreturn on invested capital improved to 5.3%, or 4.7% excluding land sales, up from negative levels previously. Inventory declined by approximately NZD 75 million through working capital discipline, while capital expenditure totaled NZD 288 million, below guidance. The debt-to-equity ratio stood at 0.69, with a current ratio of 1.5.
Divisionalmente, inntosafhetøyfabrikensresultater økte med 22 %, drevet av en 4 % økning i volumet hos Winstone Wallboards og dobbeltcifret ROIC hos Fletcher Insulation i Australia. Resultatene fra tung byggevareproduksjon steg med 8 %, med Winstone Aggregates som nådde dobbeltcifret ROIC i andre halvår. Distribusjonstoen kom tilbake til overskudd i andre halvår, etter en svak start.
Management highlighted operational progresse, including the opening of a new framing and truss plant in Auckland in June 2026, which is expected to convert every NZD 1 of sales into NZD 4.20 of higher-margin sales from the rest of the house. The Urban Quarry network expanded with a new site in Tamahere, where tonnage rose 28% and clean fill increased 35%. The Tauriko OSB plant is scheduled to open by the end of 2026, though setup costs will delay net benefits until FY2027.
Safety performance showed a Total Recordable Injury Frequency Rate of 3.7, although the company noted the loss of a team member in a crane incident in Whangarei last July. Employee engagement improved with a net promoter score of 59, while women accounted for 24% of leadership roles. Sustainability efforts saw 76% of revenue derived from certified products, and Golden Bay Cement ranked in the top quartile of low-carbon producers globally.
Takže pokud ohlédneme dopředu, The Fletcher Building očekává, že výdaje na kapitál klesnou na zhruba 170 milionů dolarů v roce finančním 2027, přičemž vypočítané náklady na úroky z dluhu jsou 60 milionů dolarů. Manažerství neočekává významné zlepšení základních objemů dopředu do roku 2027. Politika dividend navíc zůstává podmíněná dosažením pozitivních a udržitelných volných peněžních toků a splnění cílových ukazatelů na bilanci.
Aksiens cijena stekla 5,52% i zaključila na 3,25 NZD, blizu vrha 52-tjednog raspona od 2,22 do 3,44 NZD.
