Fletcher Building Limited

Overview

Fletcher Building Limited (NZX: FBU) is one of Australasia’s leading building products manufacturers and distributors, with a portfolio of established brands.

Established in 2001, the Group operates over 20 businesses across New Zealand and Australia employing approximately 9,400 people.

Fletcher Building’s manufacturing footprint spans essential Light Building Products and Heavy Building Materials – including insulation, wallboard, pipes, laminates, aggregates, cement, concrete solutions and steel – supplying residential, commercial and infrastructure end-markets.

Its Distribution and retail networks connect these products to customers, supporting trades and project delivery across New Zealand with scale, service and supply-chain capability.

The Residential and Development division is a leading New Zealand vertically integrated home builder, delivering homes across the population centres of Auckland and Christchurch.

Performance

The following information was extracted from Fletcher Building Limited's Full Year Results, released on 19 August 2026:

FY26 financial highlights

• EBIT from continuing operations before Significant Items of $414 million up $85 million on FY25

• Net earnings of $228 million, an improvement of $647 million on FY25

• Earnings per share of 21.2 cents against a 41.4 cent loss in FY25

• Net cash from operating activities of $715 million, up from $501 million in FY25

• Net debt of $637 million, reduced from $999 million at 30 June 2025

Commenting on the result, Managing Director & CEO Andrew Reding said: "Fletcher Building is significantly more resilient than it was twelve months ago. We have moved at pace to improve our business model, and the strategic reset we set out last year is now starting to deliver tangible results. Our portfolio has been simplified with the divestment of the Construction division and other non-core operating units, and we used the proceeds to strengthen our balance sheet.”

“Our core manufacturing divisions performed well in a difficult trading environment, and a sustained focus on operational and capital discipline saw us materially improve net cash from operating activities for the year. We acknowledge there is still more work to do to achieve our targeted returns on capital. However, the Group is now more focused, more resilient and better positioned to benefit once market conditions start to recover.”

FY26 EBIT from continuing operations before Significant Items finished approximately 3% above the July guidance range, with the variance primarily attributable to the finalisation of employee-related provisions.