Full Year 2024 Fleetwood Ltd Earnings Call Transcript
Key Points
- Fleetwood Ltd (ASX:FWD) reported a significant improvement in financial performance, with EBIT and net profit after tax increasing by 95% and 90% respectively compared to the previous year.
- The company has a strong cash position, generating $5.7 million in free cash flow with a closing cash position of $39.3 million.
- Fleetwood Ltd (ASX:FWD) has increased its dividend, reflecting the Board's confidence in the company's outlook.
- The Building Solutions segment returned to profitability with a positive EBIT margin, marking a $7.7 million turnaround year-on-year.
- The Community Solutions segment showed strong performance, with occupancy rates increasing significantly, particularly due to the Rio Tinto contract.
- The RV Solutions segment faced challenges due to cost-of-living pressures, resulting in reduced gross margins and a decline in market conditions.
- The company experienced delays in key project approvals within the Building Solutions segment, impacting the second half of the year.
- Fleetwood Ltd (ASX:FWD) is facing a soft market outlook for the RV Solutions segment, with a pronounced drop in the OEM segment over the last year.
- The company is dealing with high income tax expenses due to prior-year tax adjustments.
- Fleetwood Ltd (ASX:FWD) acknowledges that the near-term outlook for the RV Solutions segment remains soft, although the medium to long-term outlook is positive.
Thank you. Good morning, everybody, and thank you for joining us today. My name is Bruce Nicholson. I am I am the Managing Director and CEO of Fleetwood. I'm joined today by Cate Chandler, our CFO, and together, we'll take you through our full year financial results for FY24.
We know it's a busy time of year for everyone, so we'll do our best to give you every piece of information you need, but not take up too much of your time this morning. I'll provide some introductory comments, Cate will go take us through the financials, and I'll look at the performance of our three business units and provide a strategic and outlook update.
As we move to slide 2, I would like to start by acknowledging the traditional owners of the land in which we make today. We pay our respects to elders, past and present, and Cate and I today are speaking to you from Eora country, the traditional lands of the Gadigal people here in Sydney.
Just before we flip over to slide 4, I'd just like to point out the
| Access to All Earning Calls and Stock Analysis | |
| 30-Year Financial on one screen | |
| All-in-one Stock Screener with unlimited filters | |
| Customizable Stock Dashboard | |
| Real Time Insider Trading Transactions | |
| 8,000+ Institutional investors’ 13F holdings | |
| Powerful Excel Add-in and Google sheets Add-on | |
| All data downloadable | |
| Quick customer support | |
| And much more... |
Trustpilot
We'd love to learn more about your experiences on GuruFocus.com and how we can improve!
Take Survey
