Austal Limited · ASX:ASB
Austal — Macquarie Australia Conference 2010
14 slides from Austal's conference presentation, May 7, 2010
Slide 1: Macquarie Australia Conference
For personal use only Macquarie Australia Conference 6 May 2010 Bob Browning, Managing Director & CEO
Slide 2: Presentation Agenda
Presentation Agenda For personal use only • Austal’s Market Focus o Commercial o Global Defense o Service • Update on Joint High Speed Vessel Program • Update on Littoral Combat Ship Program • General Outlook Investor Information Package Slide 2
Slide 3: Austal's Market Focus: Commercial Markets
Austal’s Market Focus For personal use only Commercial Markets: • Global economic conditions continue to impact sales o European economy is weak/Australian dollar quite strong o Operators working harder to obtain financing o Sales prospects still strong, but closure cycle has lengthened • Current co
Slide 4: Commercial Markets: Stock Vessels
Austal’s Market Focus For personal use only Commercial Markets: • Completed construction of two stock vessels: o 48m motor yacht: Vessel completed in January 2010 Shown at the Abu Dhabi boat show Expect to complete a sale before end of this fiscal year o 102m trimaran car-passenger ferry: Al
Slide 5: Global Defense Markets (excluding U.S.)
Austal’s Market Focus For personal use only Global Defense Markets (excluding U.S.): • 12 vessels completed in Australia yards thus far this fiscal year were for the defense/government market o 4 X 21m Maltese Coast Guard vessels o 6 X 30m Trinidad & Tobago patrol boats • Demand continues to be stro
Slide 6: Service
Austal’s Market Focus For personal use only Service: • Austal’s Service business is exceeding Revenue expectations • Expect to build Revenue to circa $60M pa by 2012 from a base of ~$14M • Operations now established in Egypt, Trinidad & Tobago, Oman, Hong Kong and Darwin. Two further locations to op
Slide 7: Joint High Speed Vessel
Joint High Speed Vessel Update For personal use only • JHSV 1 under full construction • Delivery of JHSV 1 in December 2011 • JHSV 2 and 3 full construction awarded in January 2010 o JHSV 2 construction commences June 2010 o JHSV 3 construction commences Nov. 2010 • Long lead time material orders fo
Slide 8: Joint High Speed Vessel
Joint High Speed Vessel Update For personal use only • Average price per vessel is $160M • US Navy’s current 30-year shipbuilding plan calls for up to 41 JHSVs • US Army also calling for 12 JHSVs • Austal-built Hawaii Superferry recently used in Haitian relief effort demonstrated capability of this
Slide 9: JHSV Build Schedule
Joint High Speed Vessel Update For personal use only JHSV Build Schedule: FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 JHSV 1 JHSV 2 = Vessels currently under contract JHSV 3 = Options remaining to be exercised JHSV 4 JHSV 5 JHSV 6 JHSV 7 JHSV 8 JHS
Slide 10: Littoral Combat Ship
Littoral Combat Ship Update For personal use only • LCS 2, USS Independence, departed Austal USA on 26 March 2010 • Currently in Norfolk, Virginia to to complete test and trials • Will be permanently based in San Diego • LCS 4, Coronado, approximately 40% complete • With design now mature, productio
Slide 11: Littoral Combat Ship
Littoral Combat Ship Update For personal use only • Austal USA submitted it’s bid for a 10-vessel contract for LCSs #5 through #14 on 12 April • Austal USA is acting as Prime Contractor in this bid, with General Dynamics-Advanced Information Systems as our subcontractor • Award will be valued at app
Slide 12: LCS Build Schedule
Littoral Combat Ship Update For personal use only LCS Build Schedule: FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 LCS 4 (Coronado) = Vessels currently under contract LCS 5 = 10 vessel award if Austal wins LCS 6 LCS 7 LCS 8 LCS 9 LCS 10 LCS 11 LCS 1
Slide 13: Order Book With US Navy
Order Book With US Navy For personal use only FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 LCS 4 (Coronado) = LCSs currently under contract JHSV1 LCS 5 = JHSVs currently under contract JHSV 2 LCS 6 = JHSV options remaining to be JHSV 3 exercised LCS
Slide 14: Outlook
Outlook For personal use only • Continuing to work on sale of the trimaran and pleasure stock vessels by the end of the financial year • Cash position will be adequate, even if stock vessels are not sold and is further supported by access to presently undrawn working capital facilities • Manpower wi