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Edge16 Oct 2026
Winner, Winner: The Chicken McNugget Story
How a 1940s breeding contest, a Cornell food scientist, and a hedge by Ray Dalio helped McDonald's turn the Chicken McNugget into a fast-food icon.
Fletcher Building
Fletcher Building (FBU) investor relations material
Fletcher Building AGM 2026 summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.AGM 2026 summary20 Oct, 2026
Opening remarks and agenda
Hybrid meeting held in person and online; quorum confirmed and meeting declared open. Agenda covered FY26 results, operating performance, resolutions and final business; Peter Crowley chaired and Andrew Reding presented the operating update.
Resolutions were to be decided by poll, with questions addressed before voting.
Financial performance review
FY26 continuing-operations revenue was NZD 6.0bn, up 7.3% YoY; EBIT before Significant Items was NZD 414m, up NZD 85m, with NZD 49m from property sales.
Net earnings were NZD 228m vs a NZD 419m net loss in FY25; operating cash flow was NZD 715m vs NZD 501m. Net debt was NZD 637m, within the NZD 400m–NZD 900m pre-IFRS 16 target range.
EBIT margin was 6.9% vs 5.9%; excluding surplus property sales, margin was 6.2%. ROIC was 5.3% vs 4.1%, or 4.7% excluding surplus property sales.
Divisional ROIC was 7.2% for Light Building Products, 5.1% for Heavy Building Materials and 1.4% for Distribution; Distribution earnings were NZD 12m vs NZD 19m in FY25, returning to profitability in H2.
FY27 Q1 sales volumes exceeded the prior-year period in most business units, with growth across Light and Heavy Building Products and Distribution.
Board and executive committee updates
James Miller became Deputy Chair in December 2025; Peter Crowley had been appointed Chair in February 2025. Andrew Reding is Managing Director and Group CEO.
Sandra Dodds sought re-election, citing financial and commercial expertise and Audit and Risk Committee leadership; she joined the board in 2023 and moved back to Auckland.
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Latest events from Fletcher Building
- Revenue up, profitability restored, and sustainability initiatives advanced.FBU
Investor presentation - Revenue up 7.3% to $6.0b, EBIT $414m, net earnings $228m, net debt down to $637m.FBUH2 2026
- FY26 EBIT forecast at $375m–$380m, with ~$450m cash from divestments and property sales.FBUTrading update
- Joint industry response funds A$155m in repairs and leak detection for Perth plumbing failures.FBUInvestor presentation
- Stable results and Construction division sale drive transformation amid ongoing market pressures.FBUH1 2026
- Net loss of $419m on 9% lower revenue, but net debt cut to $999m amid restructuring and weak markets.FBUH2 2025
- Net loss, no dividend, NZD 700m capital raise, and board renewal amid market and project risks.FBUAGM 2024
- Net loss of $227 million, flat revenue, strong cash flow, and tough FY25 outlook.FBUH2 2024
- Net loss of $134m, revenue down 7%, leverage improved to 1.4x after $700m capital raise.FBUH1 2025
Next Fletcher Building earnings date
H1 202716 Feb, 2027
Fletcher Building
Next Fletcher Building earnings date
H1 202716 Feb, 2027
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Frequently asked questions
Fletcher Building Limited is a New Zealand-based company that operates in the building materials, construction, and distribution sectors across Australasia. The company manufactures and distributes a wide range of products, including cement, concrete, insulation, and roofing, as well as providing residential and commercial construction services. Fletcher Building serves industries such as construction, infrastructure, and residential development. The company is headquartered in Auckland, New Zealand, and its shares are listed on the NZX and ASX.