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• Revenue Growth: Increased by 19% due to contract wins in Building Solutions and 71% occupancy in Community Solutions.

• Earnings Before Interest & Taxes (EBIT): $10.4 million, up 65% from the previous half.

• Underlying EBIT: $18.3 million, nearly three times the increase compared to the first half of FY '24.

• Net Profit After Tax (NPAT): $4.7 million, an 18% increase from the first half of FY '24.

• Dividend: Fully franked dividend of $11.5 per share, almost five times the previous year's first half dividend.

• Cash Flow: Free cash flow of $21.6 million with a closing cash position of $57.5 million.

• Community Solutions EBIT: $16.8 million on $33.5 million of revenue, with revenue almost doubling and EBIT nearly quadrupling compared to the first half of FY '24.

• Building Solutions EBIT: $7.1 million, more than doubling from $3.2 million in the first half of FY '24.

• Order Bank: $137 million, up from $100 million in December 2023.

• RV Solutions Impairment: $6 million impairment and $1.9 million restructuring costs due to cost-of-living pressures impacting consumer spending.

• Share Buyback: 531,000 shares bought for $1.1 million as part of the share buyback program.

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Release Date: February 28, 2025

For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Positive Points

• Fleetwood Ltd (ASX:FWD) reported a significant increase in Earnings Before Interest & Taxes (EBIT) to $10.4 million, up 65% from the previous half.

• The company's Net Profit After Tax increased by 18% to $4.7 million compared to the first half of FY '24.

• A fully franked dividend of $11.5 per share was declared, nearly five times the dividend paid in the first half of the previous year.

• The Community Solutions segment showed strong performance with EBIT of $16.8 million on $33.5 million of revenue, driven by high occupancy rates.

• Fleetwood Ltd's Building Solutions segment saw EBIT more than double to $7.1 million, supported by a strong order book and improved project execution.

Negative Points

• The RV Solutions segment faced challenges due to cost-of-living pressures, resulting in a $6 million impairment and a $1.9 million restructuring cost.

• The RV Solutions business reported operating losses due to softer demand and an inability to pass on price increases to OEMs.

• Fleetwood Ltd's strategic review of the RV Solutions segment highlighted ongoing challenges in consumer discretionary spending.

• The New South Wales government's modular taskforce has not shown significant progress, limiting opportunities in that region.

• Victoria's market was noted as softer, although underpinned by strong government work in the education sector.