I would now like to hand the conference over to Mr. Andrew Wackett, Chief Financial Officer. Please go ahead.
Thank you. Good morning, everybody, thanks for joining us today. My name's Andrew Wackett, and I'm the Interim CEO and CFO of Fleetwood. We're mindful that we are at the pointy end of reporting season, we'll try and keep this presentation fairly brief. Before we start, I'd like to make a couple of acknowledgments. Firstly, I'd like to recognize Phillip Campbell, who is stepping down as Chairman tomorrow and retiring from the board after four and a half years. I would also like to pay a tribute to Brad Denison, who stepped down as Managing Director in November. I've only been in the interim seat for a short time, obviously what we are reporting today is very much thanks to the hard work contributed by Brad over an extended period, and his vision for the company. Slide three.
We have delivered what we're calling a solid performance today across our three operating divisions. Revenue is up 5% to almost AUD 170 million, underlying earnings before interest, tax, and amortization, or EBITDA, was up 26% to AUD 16 million. As I've mentioned, each business division has delivered a solid performance, with Building Solutions' EBITDA up 46%, Accommodation Solutions up 13%, and RV Solutions up 53%.
We continue to generate strong cash flow and finish the half with AUD 65 million in net cash, have declared an interim dividend of AUD 0.06 per share under our newly announced 100% annual dividend payout ratio. We will skip over slide four and cover each division in more detail shortly. Slide five. We're very pleased with cash flow, which is significantly higher than the previous corresponding period. Some line items to highlight. You will see that the cash outflow from discontinued businesses has increased.
This is in relation to meeting warranty claims from our former caravan manufacturing division and is anticipated to continue for some time, despite the final caravan being sold in February 2021. Tax payments remain low. We anticipate that continuing through the full year. It is important to note that CapEx is set to increase in the second half as we look to expand our capability in Building Solutions. We've also broken out our financing cash flows in the table, highlighting the AUD 0.12 dividend paid during the half and a project finance advance, which we are hoping will mark our re-entry into the affordable housing sector in a meaningful way. The graph on slide six illustrates the strong cash flow, which has largely matched EBITDA over time.
The balance sheet summary on slide seven highlights our strong cash position, no balance sheet debt, and an annualized return on capital employed of 20%. Looking at our divisions in more detail, we will start with Building Solutions on slide eight, which finished the half with EBITDA of AUD 4.1 million on revenue of AUD 121.3 million. This was relatively flat compared to the previous six months, as the COVID-19 pandemic restricted building activity in some states and slowed decision-making on the start-up of some contracts that had already been awarded. We also faced some operational integration issues in New South Wales, which were in the process, sorry, of being overcome. Importantly, we have a very strong order book at AUD 140 million, and are confident that the improving market Australia-wide is set to continue.
I have already alluded to investment in our facility to take advantage of this growth and to ensure that we are in the best position to capitalize on anticipated government spend on infrastructure. From the excellent base we have developed with Building Solutions, our priority now is to ensure it is generating the margins and earnings that shareholders expect, and hence the implementation of a specific three-part strategy. Turning to slide nine, the first priority is diversifying and growing the revenue base. We will do this by expanding the existing industry market segments to increase revenue, generating more balanced and sustainable revenue sources to optimize state capacity, and diversifying and growing into additional markets. Our target areas for growth include commercial, multi-level residential, social and affordable housing, healthcare, aged care, and custodial work, all sectors where modular construction is a highly cost-effective and suitable option.
Secondly, we need to nationalize and integrate the business to ensure we have a single framework. This will help us optimize capacity, productivity, and cost efficiencies in order to leverage the national business, economies of scale, and to access larger opportunities in the marketplace. Finally, we want to implement a framework of operational excellence, investing in our technology, workflows, people, and project management experience to build a high-performance team. Turning to slide 10 and 11. In our Accommodation Solutions business, the Searipple Village in Karratha benefited from COVID-related rostering changes early in the half, which have subsequently returned to more normal occupancy patterns. Meanwhile, Osprey Village in Port Hedland is currently fully occupied and has a waiting list of potential tenants, reflecting the strength of that market.
It is important to note that the second half results are not expected to match the strong H1 earnings, as rostering patterns have returned to more normal arrangements. This remains a highly profitable division, and the outlook is positive. There is a short-term oversupply in the market, the medium-term opportunities are clear, and we are positioning ourselves to leverage them. Rio Tinto has renewed its Civeo contract for a further 13 months. The overall outlook for capital investment and construction activity across the oil and gas and resources sector in the region is expected to drive strong demand for FIFO rooms over the medium term. We also continue to look for opportunities, largely across mining, residential, and aged care, to increase our portfolio of villages, leveraging our natural vertical integration with the Building Solutions division. Turning to slides 12 and 13.
After a bumpy start to the year, thanks to COVID-19 lockdowns, RV Solutions finished the first half with three very strong monthly sales results, thanks to the pandemic triggering a boom in domestic travel. Positively, this surge in domestic travel looks set to continue, especially as there is no clear timeline to when international travel will be reintroduced for Australians. We continue to move forward on commercializing the intellectual property developed by the former caravan manufacturing business with new caravan walling products set to launch in the near term. The promotion of the aftermarket service and renovation offering of Northern RV is also demonstrating early progress. Slide 14. In conclusion, we have delivered a solid set of results, and the outlook for the second half is positive.
We will continue to invest in Building Solutions to take advantage of opportunities and maintain our position as a leader in modular building construction and supply. Accommodation Solutions will not be as strong in the second half, but it is still a highly profitable division, and there are excellent medium-term growth opportunities. Australia's newfound love of domestic travel has been positive for RV Solutions, and it appears that trend is likely to continue. Across the business, we have clear strategies in place to improve and grow each division while improving margins and reducing overheads. Finally, in a clear sign of our capital discipline, we have introduced a 100% annual dividend payout ratio. We'd be happy now to take any questions. I'll hand back to the operator.
Thank you. If you wish to ask a question, please press star one on your telephone and wait for your name to be announced. If you wish to cancel your request, please press star two. If you're on a speakerphone, please pick up your handset to ask your question. We will pause to allow questioners to join the queue. Once again, if you wish to ask a question, please press star one on your telephone and wait for your name to be announced. We will pause to allow questioners to join the queue. There are no questions at this time. I will now hand back to Andrew.
Okay. Thanks everybody for dialing in. Appreciate it's the busiest day of the reporting season. We'll be available for questions and roadshow over the next week or so. Thank you very much.
Thank you. That does conclude our conference for today. Thank you for participating. You may now disconnect.