Slide 1: 2012 – Full Year Results
2012 – Full Year Results September 2012 For personal use only
Slide 2: Contents
Contents ► Financial Year Highlights For personal use only ► Balance Sheet Summary ► USA segment ► Henderson Shipyard Operation segment ► Philippines Shipyard Operation segment ► Service & Systems segment ► Capital expenditure ► US Defense outlook ► Short term outlook for U.S. Navy Support work ► Su
Slide 3: Financial Year 2012 Results
Financial Year 2012 Results For personal use only A$MM FY12 FY11 Change Revenue 653.0 503.8 29.6% EBIT 16.6 22.1 (24.9%) Net profit after tax 11.0 21.9 (49.7%) EPS 6.01 cents 11.9 cents (49.5%) ► Revenue grew by $149M, driven by the growth in throughput in the US. Headcount in the US grew by ≈ 500 F
Slide 4: Balance Sheet Summary
Balance Sheet Summary For personal use only A$MM FY12 FY11 Change Total Assets 826.0 674.6 22.4% Cash 51.8 42.3 22.4% Restricted Cash 52.9 128.8 (58.9%) Receivables 96.2 22.0 337.3% Inventories 193.5 177.9 8.7% Property, plant and equipment 370.4 208.3 77.8% Total Liabilities 548.9 400.4 37.1% Trade
Slide 5: USA segment
USA segment For personal use only A$MM FY12 FY11 Variance Revenue 570.3 343.9 65.8% EBIT* 20.8 30.1 (30.9%) EBIT %* 3.6% 8.7% (58.6%) PBT* 13.5 25.9 (47.9%) * Adjusted for training grant reimbursement Highlights ► Substantial YOY revenue growth reflecting increasing size and scale of the US operatio
Slide 6: Henderson Shipyard Operation segment
Henderson Shipyard Operation segment For personal use only A$MM FY12 FY11 Variance Revenue 49.0 133.9 (63.4%) EBIT (13.6) (10.1) (34.6%) EBIT % n/a n/a PBT (9.2) (8.6) (7.0%) Highlights ► Macro environment remains extremely challenging ► Stratgically repositioned as a defence focused facility and co
Slide 7: Philippines Shipyard Operation segment
Philippines Shipyard Operation segment For personal use only A$MM FY12 FY11 Variance Revenue 1.9 - - EBIT (0.8) - - EBIT % n/a - - PBT (0.8) - - Highlights ► Established to allow Austal to be competitive in global commercial vessel market ► Commenced operations in February 2012 ► Full order book thr
Slide 8: Service & Systems segment
Service & Systems segment A$MM FY12 FY11 Variance For personal use only Revenue 19.4 16.3 19% EBIT 1.6 0.9 77.8% EBIT % 8.2% 5.5% 49% PBT 1.6 1.8 (0.1%) Results exclude WestPac Express charter Support Highlights ► Growth in revenue and improvement in bottom line performance reflects enhanced focus o
Slide 9: Capital Expenditure
Capital Expenditure For personal use only Forecast 2013 Service & A$MM 2012 actual USA HSO PSO Systems Production plant and equipment 24.6 16.7 - 0.4 - Buildings/Facilities 92.2 11.0 - 6.3 - IT 1.1 1.1 - 0.6 0.2 Other - - 0.3 0.1 0.1 Total 117.9 28.8 0.3 7.4 0.3 Key projects for 2013: ► PSO Land r
Slide 10: US Defence Outlook – US Strategic Assessment
US Defence Outlook – US Strategic Assessment For personal use only “At the Geo-Strategic level, it’s all about the littorals” General James F. Amos, Commandant of the Marine Corps, April 2012 10
Slide 11: US Defence Outlook – US Strategic pivot to Asia-Pacific
US Defence Outlook – US Strategic pivot to Asia- Pacific For personal use only 11
Slide 12: US Defence Outlook – strategic implications for Austal
US Defence Outlook – strategic implications for Austal For personal use only Gibraltar Hormuz Darwin Philippines -USMC LCS OPAREA - LCS OPAREA - JHSV OPAREA - ACPB/CCPB Panama Canal OPAREA SPECFOR JHSV OPAREA Horn of Africa LCS Anti-Piracy OPAREA Singapore LCS OPAREA Perth HMAS Stirling Legend OPARE
Slide 13: US Defence Outlook – short term risks, medium term impact
US Defence Outlook – short term risks, medium term impact For personal use only ► U.S. Presidential election in November 2012 ► Re-election of President Obama or the election of the Republican candidate Romney and the extent of eithers mandate will have ramifications for US fiscal policy and specifi
Slide 14: US Defence Outlook – strategic implications for Austal
US Defence Outlook – strategic implications for Austal Ships: For personal use only ► LCS and JHSV vessels specifically designed for the mission requirements of the littorals ► U.S. Navy reaffirmed commitment to 57 ship LCS fleet ► Strategy to forward deploy ships to Singapore and the Middle East an
Slide 15: Short term outlook for U.S. Navy support work
Short term outlook for U.S. Navy support work Work completed this year For personal use only ► FSF - 1 Sea Fighter refit – Mobile, Alabama ► Technical Support data for USNS Guam and USNS Puerto Rico - Mobile, Alabama ► Logistical support for U.S. Navy research vessel Roger Revelle - Perth, Western A
Slide 16: Summary
Summary For personal use only ► 2012 result reflects difficulties experienced in ramping up operations in the US and low levels of activity at the Henderson Shipyard Operation ► Application of lessons learned appear to be delivering results in the US programs. Improvement will be progressive due to
Slide 17: Disclaimer
Disclaimer For personal use only Richard Simons, Chief Financial Officer Telephone: + 61 8 9410 1111 E-mail: richard.simons@austal.com Disclaimer This presentation and any oral presentation accompanying it has been prepared by Austal Limited (“Austal”). It should not be considered as an offer or inv