Austal Limited · ASX:ASB
Austal — Shareholder Meeting (October 2010)
18 slides from Austal's shareholder meeting presentation, Oct 22, 2010
Slide 1: Austal Limited 2010 Annual General Meeting
For personal use only Austal Limited 2010 Annual General Meeting 22 October 2010
Slide 2: Results Highlights and Key Events
Results Highlights and Key Events For personal use only AUD $M 2010 2009 Change Revenue 521.4 21.1 500.4 4% EBIT 52.7 4.7 1.5 3,413% Net profit after tax 8.537.1 cents 9.2 303% EPS 20.3 cents 5.0 cents 306% NPAT adj. for abnormal items 39.6 38.5 3% Key events during FY 2010: • Full award of contract
Slide 3: Segment Results
Segment Results For personal use only AUD $M EBIT 2010 2009 Change Austal Australia 27.6 25.7 7% Austal USA 23.7 -24.7 196% Service 3.9 N/A Other (2.5) 0.5 TOTAL: 52.7 1.5 3,413% • Austal Australia’s strong productivity improvement measures and cost savings efforts generated stronger EBIT despite lo
Slide 4: 2011 Investment Program
2011 Investment Program For personal use only 2010 AUD $M Actual Aust. Plant & Equipment 12.3 1.6 Furniture & Equipment 1.7 0.9 Information Technology 1.9 0.6 Building improvements 23.0 0.4 New Office New land and improvements Bay 5 additions MMF Phase II TOTAL 38.9 3.5 • Facility expansion at Austa
Slide 5: Vessels Completed FY 2010
Vessels Completed FY 2010 For personal use only 2 x 22m Queensland Police Boats 4 x 21m Maltese Coast Guard Vessels 6 x 30m Trinidad & Tobago Patrol Boats 1x 127m US Navy Littoral Combat Ship
Slide 6: Vessels Completed FY 2010
Vessels Completed FY 2010 For personal use only 4 x 48m Water Taxis
Slide 7: Vessels Completed Subsequent to Year End
Vessels Completed Subsequent to Year End For personal use only 1 x 107 metre vehicle ferry for Malta
Slide 8: Approximately $1.4B Currently Under Contract
Approximately $1.4B Currently Under Contract For personal use only • 1 x 113m vehicle ferry for Nordic Ferry Services (Denmark) • 2 x 47m passenger ferries for L’Express des Illes (Guadeloupe) • 1 x 127m Littoral Combat Ship (LCS) for US Navy • 5 x 103m Joint High Speed Vessel (JHSV) for US DOD • 1
Slide 9: Positioning Austal for the Future
Positioning Austal for the Future For personal use only Predictable shareholder returns in the future will be driven by: • Military shipbuilding contracts • Innovative, new designs • State-of-the-art production facilities and techniques • Leveraging our intellectual property • Financial capability •
Slide 10: Military Shipbuilding Contracts
Military Shipbuilding Contracts For personal use only US Navy • LCS 4, USS Coronado, approximately 36% complete. Littoral Combat Ship • Tender for 10 vessel contract worth circa US$4.5B is pending • First 5 of 10 JHSVs now under contract. JHSV program could grow to 52 vessels over time • Austal cont
Slide 11: Innovative, New Designs
Innovative, New Designs For personal use only • Austal continues to refine and improve its trimaran design o Superior seakeeping o Lower operating costs o Greater passenger comfort o High payload capacity • New product development includes o An “efficient catamaran” design, achieving high speeds at
Slide 12: State-of-the-art Production Facilities and Techniques
State-of-the-art Production Facilities and Techniques For personal use only Austal differentiates ourselves from the competition through superior construction techniques: • Commissioned our Module Manufacturing Facility in Alabama • Waste elimination program and “Lean Manufacturing” • Maximising aut
Slide 13: Leveraging Our Intellectual Property
Leveraging Our Intellectual Property For personal use only Expanding our reach into untapped markets while protecting our I.P.: • Improved IP management process • Technology transfer model developed • Positioning Austal to be able to produce ships around the world in countries seeking local content
Slide 14: Financial Capability
For personal use only Financial Capability Austal has strengthened its ability to pursue large construction projects: • Renegotiated the corporate banking facility to allow for expansion of debt facilities, if necessary, to support continued growth in the business • Access to a further US$140M in Gu
Slide 15: Expansion of Service Offerings
Expansion of Service Offerings For personal use only Geographic expansion of our service business: • Geographic expansion puts us in closer contact with our customers on a daily basis o Darwin o Trindad & Tobago o Spain o Oman o Egypt • Multi-year service and maintenance contracts • Through-life-sup
Slide 16: A Talented Workforce
For personal use only A Talented Workforce • Management teams in Australia and the US have been strengthened o New COO in Australia o New CFO o Greater management depth • The workforce in the US has grown to 1,800 and may double with an LCS contract win • The safety record in all our facilities is b
Slide 17: Concluding Remarks
Concluding Remarks For personal use only • Current visibility and predictability of earning streams is unparalleled in Austal’s history • Balance sheet remains strong and capital is in place to fund expansionary requirements as required • With JHSV program Austal today is the sole supplier of a vess
Slide 18: Austal Limited 2010 Annual General Meeting
For personal use only Austal Limited 2010 Annual General Meeting 22 October 2010