Overview

Brickworks Limited is a dynamic and innovative group of internationally owned companies. We specialise in property, investments and the manufacture and distribution of building products for the residential and commercial markets.

Our Building Products division is one of Australia’s largest, best known and most diverse building material manufacturers. Our products include clay bricks and pavers, concrete masonry blocks, retaining wall systems, stone, precast concrete panels, concrete, terracotta and solar roof tiles, terracotta façades and lightweight building systems.

In late 2018, Brickworks announced it’s first US based acquisition of Glen-Gery, the fourth largest brick manufacturer in the USA.  Since this time the North America business has continued to grow through further acquisitions and is now established as the leading brickmaker in the key North eastern region, with a reputation for premium products and high exposure to the architectural market.

With a broad product portfolio and manufacturing and sales facilities across Australia & North America, Brickworks is uniquely placed to service the demands of the building industry.

BRICKWORKS CORPORATE STRUCTURE

Brickworks Corporate Structure

Brickworks has a diversified corporate structure that has delivered stability of earnings over the long term. There are three divisions within the Brickworks Group structure — Building Products, Investments and Property.

BRICKWORKS INVESTMENTS

Brickworks Investments

Investments consists primarily of a 39.4% interest in Washington H. Soul Pattinson (WHSP), an S&P/ASX100 listed Company (ASX: SOL).

This shareholding in WHSP is an important source of earnings and cashflow diversification for the company and has been a key contributor to Brickworks’ success for more than four decades.

The market value of Brickworks shareholding in WHSP was $2.142 billion at 31 July 2019.

WHSP has delivered outstanding returns over the long term, with fifteen year returns of 11.6% per annum to 31 July 2019 being 2.6% ahead of the All Ordinaries Accumulation Index.

WHSP holds a significant investment portfolio in a number of listed and unlisted companies including Brickworks, TPG Telecom, New Hope Corporation, Australian Pharmaceutical Industries, Apex Healthcare Berhad and TPI Enterprises.

This provides WHSP with a diversified end market exposure. Over more than four decades, WHSP has delivered an uninterrupted dividend stream that reflects the earnings from WHSP’s diversified investments. This dividend helps to balance the cyclical earnings from Brickworks’ Building Products and Property divisions.

BRICKWORKS PROPERTY

Brickworks Property

The Property division was established to maximise the value of land that is surplus to the Building Products business. Operational land that becomes surplus to the business needs is transferred to the Property division where it is assessed for optimum land use.

In some cases, land is rezoned to residential and sold. Alternatively, the land is rezoned industrial and transferred into the Property Trust and developed, creating a stable, growing annuity style income stream.

The Joint Venture Industrial Property Trust is a 50/50% partnership between Brickworks and Goodman Industrial Trust. Over the past decade it has grown significantly and now has a total asset value of over $1.7 billion. After including debt, Brickworks 50% share of the Property Trust has an equity value of $633 million.

In addition to the Property Trust, the Company holds around 3,750 hectares of operational land and 370 hectares of development land. The company also holds 2,400 hectares of land in North America.

Divisions

Our Building Products division is one of Australia’s largest, best known and most diverse building material manufacturers.

Australia

North America

Board of Directors

Robert D. Millner
Chairman
FAICD

Mr R. Millner is the non-executive Chairman of the Board. He first joined the Board in 1997 and was appointed Chairman in 1999. Mr Millner has extensive corporate and investment experience. He is a member of the Nomination Committee and the Remuneration Committee.

Michael J. Millner
Deputy Chairman
MAICD

Mr M. Millner is a non-executive Director who was appointed to the Board in 1998. He is Vice President of the Royal Agricultural Society of NSW, Chairman of the Royal Agricultural Society of NSW (RAS) Foundation, and has extensive experience in the investment industry. Mr Millner is the deputy chairman of the Board, and a member of the Nomination Committee and the Remuneration Committee.

Lindsay R. Partridge AM
Managing Director
BSc. Hons. Ceramic Eng; FAICD; Dip CD

Mr Partridge graduated as a ceramic engineer from the University of New South Wales, and worked extensively in all facets of the clay products industry in Australia and the United States before joining the Austral Brick Company in 1985. In 2008, Mr Partridge completed the Stanford University Executive Development Program. He held various senior management positions at Austral before being appointed Managing Director of Brickworks in 2000. Since then, Brickworks has grown significantly in terms of size and profitability as its operations have become Australia-wide, with its product range extending beyond bricks to tiles, pavers and masonry and activities expanding into property development.

Mr Partridge has also had extensive industry involvement, and was previously a director of various industry bodies, including the Australian Brick and Blocklaying Training Foundation and the Clay Brick and Paver Institute.

In 2012 he was awarded the Member of the Order of Australia for services to the Building and Construction Industry, particularly in the areas of industry training and career development, and to the community. He was previously a director of the Children’s Cancer Institute of Australia.

In 2018 the Housing Industry Association awarded Mr Partridge the “Sir Phillip Lynch Award”, their highest award. The award was in recognition of a lifetime contribution to the Housing Industry. 

Brendan P. Crotty
Independent Non-Executive Director
LS, DQIT, Dip.Bus Admin, MAPI, FAICD, FRICS

Mr Crotty was appointed to the Board in June 2008 and is a non-executive Director. He brings extensive property industry expertise to the Board, including 17 years as Managing Director of Australand until his retirement in 2007. He is a director of a number of other entities that are involved in the property sector. He is the Chair of the Remuneration Committee, and a member of the Audit and Risk Committee, the Nomination Committee and the Independent Board Committee.

Deborah R. Page AM
Independent Non-Executive Director
BEc; FCA; FAICD

Mrs Page was appointed to the Board in July 2014 and is a non-executive Director. Mrs Page has extensive financial expertise, arising initially from her time at Touche Ross/KPMG Peat Marwick including as a partner, and subsequently from senior executive roles with the Lend Lease Group, Allen Allen and Hemsley and the Commonwealth Bank. She also has experience as a Director in a number of sectors, including Property, Energy & Renewables, Insurance, Funds Management, Technology and Public Sector bodies. Mrs Page is the Chair of the Audit and Risk Committee, a member of the Nomination Committee, the Remuneration Committee and the Independent Board Committee.

The Hon. Robert J. Webster
Lead Independent Director
MAICD

Mr Webster was appointed to the Board in 2001 and is a non-executive Director. He is Senior Client Partner in Korn Ferry’s Sydney office. He is the Lead Independent Director and Chair of the Independent Board Committee, Chair of the Nomination Committee, a member of the Audit and Risk Committee and the Remuneration Committee.

Malcolm P. Bundey
Independent Non-Executive Director
BBus (Accounting), GAICD

Mr M. Bundey is a non-executive Director who was appointed to the Board on 1 October 2019. Mr Bundey has valuable experience as a Chief Executive Officer (CEO) & Managing Director with expertise in complex manufacturing operations in Australia, the USA and many international jurisdictions, and a strong financial background. Mr Bundey was the CEO & Managing Director of Pact Group Holdings Ltd between December 2015 and March 2019. He was previously President & CEO at portfolio companies held by privately owned Rank Group (based in Australia and USA), operating various international packaging & manufacturing operations globally. He was also CFO at Goodman Fielder during Rank Group ownership from 2003 to 2006. Prior to this Mr Bundey was a partner at Deloitte. He is a member of the Nomination Committee, the Remuneration Committee, the Audit and Risk Committee and the Independent Board Committee.

Group Executive Team

Lindsey Partridge

Lindsay R. Partridge AM
Managing Director
BSc. Hons. Ceramic Eng; FAICD; Dip CD

Mr Partridge graduated as a ceramic engineer from the University of New South Wales, and worked extensively in all facets of the clay products industry in Australia and the United States before joining the Austral Brick Company in 1985. In 2008, Mr Partridge completed the Stanford University Executive Development Program. He held various senior management positions at Austral before being appointed Managing Director of Brickworks in 2000.Since then, Brickworks has grown significantly in terms of size and profitability as its operations have become Australia-wide, with its product range extending beyond bricks to tiles, pavers and masonry and activities expanding into property development.

Mr Partridge has also had extensive industry involvement, and was previously a director of various industry bodies, including the Australian Brick and Blocklaying Training Foundation and the Clay Brick and Paver Institute.

In 2012 he was awarded the Member of the Order of Australia for services to the Building and Construction Industry, particularly in the areas of industry training and career development, and to the community. He was previously a director of the Children’s Cancer Institute of Australia.

In 2018 the Housing Industry Association awarded Mr Partridge the “Sir Phillip Lynch Award”, their highest award. The award was in recognition of a lifetime contribution to the Housing Industry.

Robert Bakewellb

Robert Bakewell
Chief Financial Officer
BComm CA

Mr Bakewell was appointed Chief Financial Officer in June 2016. He is a chartered accountant with more than 35 years finance and commercial experience in listed Australian and international companies including significant experience in mergers and acquisitions, restructuring, balance sheet and capital management. He is responsible for all financial operations of the business including group accounting and taxation, treasury, banking and finance and investor relations.

SUSAN LEPPINUS

Susan Leppinus
Company Secretary and General Counsel
BEc; Llb; Grad Dip App Fin

Ms Leppinus was appointed Company Secretary and General Counsel in April 2015. She is admitted to practice in NSW and has over 14 years’ experience as a company secretary and general counsel. She has worked closely with boards and senior management in ASX 200 companies, and has significant experience in mergers and acquisitions, contract negotiation, corporate governance, corporate and commercial law. She is responsible for the legal governance and company secretarial functions of the Group, including liaising with the ASX, ASIC and other regulatory bodies.

MEGAN KUBLINS

Megan Kublins
Executive General Manager – Property & Development
BSc, B Arch

Ms Kublins was appointed General Manager Property in November 2001 and became Executive General Manager Property in 2006. She has over 22 years experience in the property industry gained in public and private organisations in the capacity of both landowner and developer. She manages all of Brickworks property assets, including over 3,500 hectares of land. Her primary focus is to identify value creation opportunities within this portfolio. She is responsible for the growth and management of the Goodman/Brickworks JV, which was established and grown under her direction. Megan has completed the Stanford Executive Program.

DAVID FITZHARRIS

David Fitzharris
Group General Manager Brickworks Sales and Group General Manager Austral Bricks Australia 

Mr Fitzharris was employed by Brickworks in 1987 and for the past 32 years has held various senior executive positions including East Coast General Manager Austral Bricks. He was appointed to his current role of Group General Manager Brickworks Sales in 2003 and Group General Manager Austral Bricks in February 2019. He is involved in the strategic direction of the group and has responsibility for all sales, customer service, import/export activities across the Group and has actively developed key customer relationships across all business units. He is also a board member of New Zealand Brick Distributors and represents Brickworks at a number of industry associations currently Chairman of Think Brick Australia.

MARK ELLENORB

Mark Ellenor
President – Brickworks Building Products North America
BBus

Mr. Ellenor was appointed President – Brickworks North America in November 2018. Mark started with Austral Bricks in the graduate program in 1999, progressed through management, and was promoted to General Manager Eureka Tiles in 2006, General Manager Austral Bricks NSW in 2009, General Manager Austral Bricks Australia in 2017 and Group General Manager Austral Bricks and Bristle Roofing in 2018.

Now based in Philadelphia, Mark is charting the course for Brickworks’ entry and growth in the US market, and is responsible for strategically expanding and transforming the US holdings into the leader of technology, design and style in the American brick industry. Mark has completed the Stanford Executive Program and holds a degree in Business from the University of Newcastle.

Top Shareholders

SUBSTANTIAL SHAREHOLDERS

As of 31 August 2019

The names of the substantial shareholders is disclosed in substantial shareholder notices received by the Company:

Substantial ShareholderNumber of Shares
Washington H Soul Pattinson & Company Limited65,645,140

TOP 20 SHAREHOLDERS

20 Largest Shareholders as Disclosed on the Share Register as of 31 August 2019

RankNameShares%
1.Washington H Soul Pattinson & Company Limited65,645,14043.83
2.HSBC Custody Nominees (Australia) Limited17,504,16911.69
3.J P Morgan Nominees Australia Pty Limited8,032,0525.36
4.Citcorp Nominees Pty Limited7,834,6105.23
5.Milton Corporation Limited3,234,5672.16
6.National Nominees Limited3,204,3302.14
7.J S Millner Holdings Pty Limited3,018,8362.02
8.Australian Foundation Investment Company Limited1,853,6191.24
9.Mrs Margaret Dorothy Stonier1,498,7431.00
10.BNP Paribas Nominees Pty Ltd <Agency Lending DRP A/C>937,5520.63
11.CPU Share Plans Pty Ltd840,8960.56
12.HSBC Custody Nominees (Australia) Limited <NT-COMNWLTH Super Corp A/C>752,4780.50
13.CPU Share Plans Pty Ltd <BKW DF2 Control A/C>731,0410.49
14.BNP Paribas Nominees Pty Ltd701,1180.47
15.T G Millner Holdings Pty Limited698,5090.47
16.Argo Investments Limited584,0090.39
17.Mirrabooka Investments Limited454,4540.30
18.BKI Investment Company Limited436,2090.29
19.HSBC Custody Nominees (Australia) Limited – A/C 2358,4280.24
20.Millane Pty Limited341,3490.23
Total 118,662,10979.23

Corporate Governance

The Board of Brickworks Limited is committed to developing and maintaining good corporate governance within the Company, and recognises this can only be achieved through its people and their actions.

Brickworks Limited has policies and procedures in place that help to ensure the highest standards of corporate governance.We abide by all laws of Australia and the requirements of regulatory authorities in each State.

CONSTITUTION

DescriptionDownload
ConstitutionDownload

Board Charter

DescriptionDownload
Board CharterDownload

Committee Charter

DescriptionDownload
NominationDownload
RemunerationDownload
Audit & RiskDownload

Board Policies

DescriptionDownload
Code of ConductDownload
Continuous Disclosure PolicyDownload
Securities Trading PolicyDownload
Political Donation PolicyDownload
Diversity PolicyDownload
Whistleblower PolicyDownload
Anti-Bribery and Corruption PolicyDownload