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Fletcher Building (FBU) briefings

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Showing 1-10 of 10 published briefings.

Fletcher Building (FBU)HY26Released 18 February 2026

PBT swung to $65m profit but inventory days reached 122.5

A 152.8% PBT recovery and positive pre-lease FCF coexist with inventory days 40 above the historical mean of 82.5.

Published 20 April 2026

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Fletcher Building (FBU)FY25Released 20 August 2025

PBT swung to -$432m on $702m of significant items as net debt fell to $999m

$644m of continuing-operation significant items drove PBT margin to an unprecedented -6.2%, while a balance-sheet recapitalisation cut net debt

Published 20 April 2026

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Fletcher Building (FBU)HY25Released 19 February 2025

Revenue fell 15.7% but gross borrowings cut 68% on Tradelink exit

PBT loss narrowed 10.9% to NZ$123.0m yet NPAT loss widened 11.7% to NZ$134.0m as discontinued Tradelink absorbed NZ$52.0m.

Published 21 April 2026

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Fletcher Building (FBU)FY24Released 21 August 2024

Revenue fell 9.3% and NPAT swung to $227m loss as net debt rose $359m

Operating cash flow held up only because working capital released $473m, masking weaker underlying earnings as the dividend was suspended.

Published 21 April 2026

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Fletcher Building (FBU)HY24Released 14 February 2024

Fletcher PBT swung to a NZ$138m loss on a 0.8% revenue dip

Significant items including a NZ$122m Tradelink write-down masked NZ$455m of underlying EBITDA, but leverage rose to 4.3x and the interim dividend

Published 22 April 2026

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Fletcher Building (FBU)FY23Released 16 August 2023

FY23 PBT fell 42.6% on $301m significant items as cash conversion dropped

EBITDA rose 4.5% but a $949m working-capital build turned free cash flow negative and pushed dividends above reported earnings.

Published 22 April 2026

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Fletcher Building (FBU)HY23Released 15 February 2023

Pre-lease FCF hit unprecedented -$443m as $150m construction charge cut NPAT 46%

Revenue grew 5.4% and EBITDA margin reached 12.6%, but operating cash flow swung to -$203m and gross borrowings nearly doubled to $1.7bn.

Published 22 April 2026

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Fletcher Building (FBU)FY22Released 17 August 2022

NPAT up 41.6% as net debt jumped to $1.7bn and cash conversion fell to 53.5%

Strong reported earnings collide with a $1.5bn net debt step-up and a full-year dividend not covered by free cash flow.

Published 22 April 2026

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Fletcher Building (FBU)HY22Released 16 February 2022

NPAT up 41.3% but NZ$1.5bn working-capital build cut operating cash 63%

Inventory rebuild and housing investment drove operating cash from NZ$428m to NZ$157m and stretched FCF dividend cover to 862.2%.

Published 22 April 2026

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Fletcher Building (FBU)FY21Released 18 August 2021

FY21 swings to NZ$305m profit as net debt falls to NZ$173m

Revenue rose 11.1% and operating cash flow more than doubled to NZ$889m, funding a sharp deleveraging and a restored 30cps full-year dividend.

Published 22 April 2026

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