• Underlying EBIT of $37.7M, a $29.5M improvement on FY24
• Strong earnings momentum and disciplined working capital management delivered a $29.7M improvement in free cash flow
• Searipple Village FY26 contracted occupancy is 82% with opportunities to lift further

Fleetwood Ltd reported a strong financial performance in FY25, with underlying EBIT of $37.7M, a $29.5M improvement on FY24. This was driven by a material improvement in earnings from the Community Solutions and Building Solutions segments, which offset continued challenges in the RV Solutions segment. The company generated $27.0M in free cash flow, a $29.7M improvement on FY24, reflecting robust underlying earnings and disciplined working capital management. Reflecting the strong balance sheet and earnings momentum, the Board declared a final fully franked dividend of 13.5cps, bringing the full year fully franked dividend to 25.0cps, a 400% increase on FY24. In Community Solutions, Searipple Village's FY26 contracted occupancy is currently 82%, with opportunities to lift further. In Building Solutions, the company is focused on its 'Build, Transform, Grow' strategic initiatives to improve the quality and consistency of earnings, with the order book at the end of August 2025 standing at $115M and a pipeline of over $200M in tenders. While current market conditions remain challenging for RV Solutions, the business plans to return to profitability in FY26 through cost management and new product initiatives.

Fleetwood expects FY26 EBIT revenue growth in the Building Solutions segment to be in the high single digits.

The medium to long-term prospects for Fleetwood are positive, underpinned by a substantial fleet of caravans and RVs operating across Australia that will continue to drive sustained demand for aftermarket products and services. The company is also well-positioned to capitalize on opportunities in the key worker and residential sectors through potential Build Own Operate/Transfer (BOOT) or Build to Rent (BTR) projects.