Fletcher Building Limited (NZX: FBU) Annual Shareholders Meeting Documents and 1H21 Guidance

Wednesday 25th November 2020

Fletcher Building is today holding its 2020 Annual Shareholders’ Meeting.

Included in the Chief Executive Officer’s address is guidance for 1H21 EBIT before significant items which is expected to be in the range of $305 million to $320 million. In 1H20, EBIT before significant items was $219 million.

As a result of the ongoing uncertainty caused by COVID-19, we will only be providing half year guidance today. In line with this, we expect our FY21 half year EBIT to be in the range of $305 to $320 million – and this compares favourably to the $219 million we made in the first half of last year. We will also continue to keep a tighter rein on capex through this year, and as such we continue to expect the full year capex to be around $200 million.

In closing, I’d like to thank our employees, suppliers, and customers for their commitment and all they have done through the last 12 months. I also want to thank you, our shareholders, for continuing to support Fletcher Building.

This has been a challenging year for us, which we I feel we’ve navigated well. Even more pleasing for me, is that we are now seeing the benefits of the work we have been doing over the last two years, start to show up in our performance and results.

See the links below for more details:

Chair's Address

Chief Executive's Address

ASM Presentation

Annual Shareholders' Meeting News Release

Source: Fletcher Building Limited

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