Fleetwood (FWD) investor relations material

Executive summary

• FY26 marked decisive restructuring and portfolio simplification, focusing on core segments and sustainable earnings growth.

• Underlying EBIT was $35.6 million, down 6% year-over-year, impacted by Building Solutions' underperformance and project margin issues.

• Community Solutions delivered record EBIT of $50.0 million, driven by 96% Searipple Village occupancy and strong project activity.

• Major restructuring included exiting RV Solutions, closing the Smithfield facility, and preparing to divest Camec.

• Portfolio now centers on Community Solutions and Building Solutions.

Financial highlights

• Revenue was $475 million, down 6% year-over-year, mainly due to Building Solutions softness and RV Solutions exit.

• Net Profit After Tax was $2.4 million, significantly affected by $29.6 million in restructuring costs.

• Free cash flow increased to $35.9 million, supported by disciplined working capital and divestments.

• Closing cash position was $61.5 million, up $10.5 million from the prior year, with no debt.

• Total capital returned to shareholders was $21.6 million via dividends and buybacks.

Outlook and guidance

• FY27 revenue expected to grow at least 5%, with focus on profitable, well-priced projects.

• Searipple Village contracted occupancy for FY27 is 72%, with guidance of 82%-92% and additional bookings anticipated.

• Red Dog Village acquisition expected to add $10–20 million in annualized earnings, subject to completion and regulatory approvals.

• Building Solutions to benefit from cost reductions and improved governance, targeting breakeven to slightly positive EBIT in H1 FY27 and stronger H2.

• Closure of Smithfield facility to reduce annual costs by $8–9 million from Q2 FY27.