Announcement
MEETING: FBI: Annual Shareholders' Meeting documents and trading update
10:01am
FBI
19/10/2021 10:01
MEETING
PRICE SENSITIVE
REL: 1001 HRS Fletcher Building Industries Limited
MEETING: FBI: Annual Shareholders' Meeting documents and trading update
Annual Shareholders' Meeting documents and trading update
Auckland, 19 October 2021: Fletcher Building is holding its 2021 Annual
Shareholders' Meeting today at 2pm NZDT. Attached are the:
- Chair's address
- Chief Executive's address
- ASM presentation
Included in the Chief Executive Officer's address is an update on trading and
outlook for the FY22 year.
In his address to shareholders, CEO Ross Taylor said: "Trading either side of
the New Zealand lockdowns has been very solid, and at levels above the prior
year. Provided New Zealand stays at these present lockdown levels or better,
we would expect the trading conditions to remain above last year. In
Australia, we are predominately East Coast focused, and lockdowns of some
shape or form have been a feature of the FY22 year to date. The net effect
of these lockdowns has been to slightly subdue trading levels across most of
our businesses. However, as both NSW and Victoria start to open up with
increasing vaccination levels, we expect trading to improve quickly and to
levels above last year.
"We have a strong balance sheet, a favourable market outlook, and remain
well-positioned to drive ongoing performance and growth. We continue to
target c.10% EBIT margin in FY23. In FY22, the 1H22 margin will be impacted
by lockdowns. We are confident that our 2H22 margin will show good progress
toward our c.10% target, assuming no further material impacts from COVID
lockdowns."
Further details are provided in the Chair's and Chief Executive Officer's
addresses and presentation. To access the meeting online, please visit:
https://meetnow.global/nz
A live recording of the meeting will also be broadcast on the Company's
website
https://fletcherbuilding.com/investor-centre/reports-presentations-and-webcas
ts/
Note if you are a shareholder and wish to cast your vote during the meeting
please follow the Computershare voting instructions contained in your Notice
of Meeting documents.
#Ends
Authorised by
Chris Reid
Company Secretary
For further information please contact:
MEDIA
Christian May
General Manager - Corporate Affairs
+64 21 305 398
Christian.May@fbu.com
INVESTORS AND ANALYSTS
Aleida White
Head of Investor Relations
+64 21 155 8837
Aleida.White@fbu.com
End CA:00381192 For:FBI Type:MEETING Time:2021-10-19 10:01:19
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