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Published briefings for one covered company.

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Showing 1-10 of 10 published briefings.

Fletcher Building (FBU)HY26Released 18 February 2026

Fletcher Building HY26: volumes fell 20% but PBT returned to profit

Cost action held EBIT margin steady, yet the result still depends on an unquantified significant-items bridge and thin liquidity.

Published 20 April 2026

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Fletcher Building (FBU)FY25Released 20 August 2025

Fletcher Building FY25: revenue fell 9% and the operating loss widened sharply

Debt came down and cash improved, but the earnings line deteriorated faster than the balance sheet repaired.

Published 20 April 2026

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Fletcher Building (FBU)HY25Released 19 February 2025

FBU revenue fell 15.7% but balance sheet strengthened on $811m debt reduction

A $52m discontinued-operation loss widened NPAT while PBT improved 10.9%, masking genuine deleveraging progress against an accelerating demand...

Published 21 April 2026

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Fletcher Building (FBU)FY24Released 21 August 2024

PBT swung to -NZD24m loss as operating profit collapsed 65%

A NZD786m revenue decline and NZD141m Tradelink discontinued-operation loss combined to erase FY23's NZD343m PBT surplus in a single year.

Published 21 April 2026

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Fletcher Building (FBU)HY24Released 14 February 2024

PBT swung NZ$275m negative as Tradelink write-down and NZ housing slump hit

Revenue held flat but margins collapsed, the interim dividend was pulled, and gross borrowings jumped NZ$476m while operating cash stayed negative.

Published 22 April 2026

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Fletcher Building (FBU)FY23Released 16 August 2023

PBT fell 42.6% on flat revenue as net debt more than doubled

A $29m revenue dip masked a $255m PBT decline, while gross borrowings jumped $763m and pre-lease free cash flow turned negative.

Published 22 April 2026

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Fletcher Building (FBU)HY23Released 15 February 2023

NPAT fell 46% and operating cash flow swung to a NZ$203m outflow

Underlying EBIT rose 8% on 5.4% revenue growth, but NZ$154m of significant items and a working-capital reversal nearly tripled net debt.

Published 21 April 2026

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Fletcher Building (FBU)FY22Released 17 August 2022

PBT up 38% but operating cash fell 33% as net debt more than tripled

Earnings growth was real but cash conversion collapsed on a $341m inventory build and capex nearly doubled, taking net debt from $191m to $689m.

Published 21 April 2026

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Fletcher Building (FBU)HY22Released 16 February 2022

NPAT up 41% but free cash flow collapsed to NZ$1m on inventory build

Earnings growth was real but lower tax and a 490m inventory build left dividend cover reliant on the balance sheet rather than cash generation.

Published 21 April 2026

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Fletcher Building (FBU)FY21Released 18 August 2021

Fletcher swings to $305m NPAT and halves gross borrowings on $889m OCF

A clean recovery on paper, but with HY21 contributing only 39.7% of full-year NPAT, the earnings shape is visibly second-half weighted.

Published 21 April 2026

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