Fleetwood (FWD) AGM 2025 summary

Opening remarks and agenda

• Meeting opened with acknowledgment of traditional land custodians and respect paid to Elders past and present.

• Confirmation of quorum and introduction of board members and committee chairs, including Audit, Risk, Remuneration, Sustainability, and Nominations.

• AGM held in a hybrid format, welcoming both in-person and online attendees.

Board and executive committee updates

• Board chaired by John Klepec, with Jeff Dowling standing for re-election as director and Chair of the Audit Committee, supported by dedicated committee chairs.

• Bruce Nicholson serves as Managing Director & CEO, with Samantha Thomas as General Counsel & Company Secretary.

• Board remains focused on avoiding past mistakes related to volatile earnings and value-destructive acquisitions.

Financial performance review

• Underlying EBIT reached AUD 37.7 million, up AUD 29.5 million from prior year; net profit after tax was AUD 14.6 million, up AUD 10.8 million.

• Free cash flow was AUD 27 million, up AUD 29.7 million year-on-year.

• Community Solutions delivered an EBIT of AUD 39.2 million with a 51% margin, and Searipple Village occupancy rose to 84% from 34% the previous year.

• Building Solutions revenue grew 15.1% to AUD 356.2 million, with EBIT up 400% to AUD 11 million and record results in Queensland, Victoria, and Western Australia.

• RV Solutions faced a revenue decline to AUD 70.6 million and an underlying EBIT loss of AUD 2.8 million, impacted by market contraction and restructuring.