Fletcher Building shares moves up following the release of investor day presentation

Fletcher Building Limited (ASX: FBU) has released investor day presentation where it talked on the theme of “Building for tomorrow”. The presentation includes FBU’s five divisions along with the key drivers of the performance and growth across the business.

Other than this, the Company confirmed its FY2022 EBIT, which is expected to be ~$750 million. In addition, 2H FY2022 second half EBIT margin (before significant items) is expected to be ~9.5%, driven by its proven & capable leadership team which continues to grow & evolve in line with the Company’s aspirations. This is further strengthened by an experienced GM team and good progress across all people metrics.

Key Updates:

1. In 2023, New WWB plant at Tauriko will open. The Company believe that it will add an extra 30% capacity to the NZ market.
2. Base capex of FBU is in between $200-250 million per annum to support the underlying business. The focus is on digital, efficiency & sustainability.

At AEST 11:12 AM, FBU shares are trading at AU$4.700, up 5.855% from the previous close.

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