Slide 1: FY2025 H1 Results
FY2025 H1 Results 21 February 2025 Paddy Gregg Chief Executive Officer Christian Johnstone Chief Financial Officer 1
Slide 2: Austal Today
Austal Today A growing defence prime, delivering for the defence and commercial sectors $826M $14.2B 4,324 5 Shipyards in 4 Revenue Orderbook Employees countries (Incl. options) 6 Ships Ordered 51 72 8 Service Centres in 4 Ships under Vessels under countries 6 Ships Delivered construction or Sustain
Slide 3: FY25 H1 Business Highlights
FY25 H1 Business Highlights Strong recovery in earnings driven by USA build programs Revenue Operating Cashflow $826m 15% $238m $205 m EBITDA Net Cash $79m $13.9 m $213m $209 m EBIT Total Cash $43m $10.6 m $354m $180 m NPAT Orderbook $25m $13.1 m $14.2bn $1.5 bn 3 1. Improving Earnin
Slide 4: Austal USA - Strong and long pipeline of work
Austal USA - Strong and long pipeline of work Provides certainty of revenue (assuming all options exercised) 4
Slide 5: Austal Australia – Pipeline and opportunities
Austal Australia – Pipeline and opportunities Strategic Shipbuilder Agreement being negotiated 1. LC‐M; LC‐H; GPF and LOSV are currently subject to conclusion of the Strategic Shipbuilder Agreement with the Commonwealth Department of Defence. 5
Slide 6: Financial Highlights
cool /AUSTAL H ighlights — -
Slide 7: Group Revenue Movement
Group Revenue Movement $M FY2024 USA USA Australasia Australasia FX Consolidation FY2025 H1 Ship Building Support Ship Building Support Translation & Elimination H1 $900 14% 8% 60% 12% $9 $(4) $4 $826 $43 $800 $65 $(8) $718 $700 TAGOS & OPC completing Greater Increased Average FX Reduced design phas
Slide 8: Group EBIT Movement
Group EBIT Movement $M FY2024 USA USA Australasia Australasia FX Corporate FY2025 H1 Ship Building Support Ship Building Support Translation Overhead H1 $50 10% 6% 79% 41% $2 $43 $1 $1 $40 $7 $32 $1 $(1) $30 TAGOS & OPC Greater Average FX completing Reduced Increased Lower legal fees throughput move
Slide 9: Cash and Capex
Cash and Capex $M $500 $450 $238 $(39) $400 $(4) $(8) $(0) $(5) $(1) $354 $350 Driven by repayment of $300 the revolver $250 (drawn down in FY2024 H2) $200 $174 $150 Driven by milestone $100 receipts from EB $50 $0 30 Jun 2024 Net Cashflow Debt Sustaining Enhancing Debt Lease FX 31 Dec 2024 from inc
Slide 10: Segment Breakdown
Segment Breakdown $m Ships Support Total 2024 H1 2025 H1 2024 H1 2025 H1 2024 H1 2025 H1 Revenue $455 $517 $127 $117 $581 $634 EBIT $25 $27 $24 $23 $49 $50 EBIT 5.4% 5.2% 19.3% 19.7% 8.4% 7.9% margin $m Ships Support Total 2024 H1 2025 H1 2024 H1 2025 H1 2024 H1 2025 H1 Revenue $71 $114 $70 $79 $142
Slide 11: Business Overview
Business Overview 11
Slide 12: Operational Highlights USA
Operational Highlights USA • Strong performance on existing build contracts • New build programmes contributing to revenue and margin • Support business performing and will grow with FA2 Ground-breaking Ceremony – July 2024 San Diego floating dock in FY26 • Contracts, cash and execution on infrastru
Slide 13: Expanding Shipbuilding - Mobile, AL Shipyard
Final Assembly 2 Expanding Shipbuilding - Up to US$300m Module Manufacture 3 Mobile, AL Shipyard US$450m Submarine Industrial Base US$152m • Invest in facilities for current and future shipbuilding programmes and additional submarine module capacity • Austal has received a letter of support from an
Slide 14: Operational Highlights Australasia - Defence
Operational Highlights Australasia - Defence • Visible progress towards new contracts for LC-M, LC-H and GPF • Working under interim contracts where Landing Craft - Medium appropriate to ensure continuous naval shipbuilding bridge to the SSA • Continued to deliver on the ECape and GCPB programmes La
Slide 15: Operational Highlights Australasia - Commercial
Operational Highlights Australasia - Commercial • Secured orders for the Asian commercial yards: • Vela • Ocean Master • Dory 2 • Gotland • Pipeline healthy and green technology will strengthen 66 metre sailing cargo trimaran VELA 32 metre ‘Ocean Master’ Rottnest Fast Ferries 130 metre ‘Horizon X’ 7
Slide 16: Support
Support Support Revenue $m We set a target of $500m revenue by FY27 and are tracking well against this: $500 467 • Our addressable market grows in US and Australia through the increasing number of Austal built ships $400 360 367 • Investment in San Diego growth opportunity when the floating dock is
Slide 17: Austal Technology
Austal Technology • Austal historically focused on shipbuilding; moved into and grew support; and is now growing in technology. • Opportunity in AUKUS pillar 1 (Sub modules) and pillar 2 (Technology) in play. Official opening of the Austal USA Advanced Technologies Centre, August 2024 Lifecycle Upke
Slide 18: Outlook
—— Outlook 18
Slide 19: Strategic Outlook
Strategic Outlook Record Order Book in the US Underlying business Significant investment in with Australia aiming to follow performing ahead of facilities for growth and setting through Strategic Shipbuilding expectations as we come up the shipyard for future Agreement. Greater contract through the
Slide 20: Long term investment proposition
Long term investment proposition $M Group EBIT with EBIT Margin $ Austal Share Price $5 $160 $130 8.4% $115 Guidance $4 $3.60 $120 $121 8.0% $3.23 $80 7.3% $3 $2.37 $2.49 $80 $56 $2.05 6.3% 5.0% $1.80 $2 $40 4.6% $(5) 3.8% 2.0% $1 $0 $0 ($40) (0.3%) (1.0%) FY2020 FY2021 FY2022 FY2023 FY2024 FY2025 H
Slide 21: Guidance FY2025
Guidance FY2025 With the orderbook plus potential future projects based on Government announcements Austal is nearing the end of a transition period and start of the execution period, with years of growth ahead. Updating EBIT Guidance for FY25 to not less than $80m Key drivers include: • Record orde
Slide 22: Glossary
Glossary AFDM Auxiliary Floating Dock Module LCS Littoral Combat Ship (Independence-variant) AS(X) Submarine tenders LCU Landing Craft Utility CCPB Cape Class Patrol Boat LUSV Large Unmanned Surface Vessel DDG(X) Next Generation Guided Missile Destroyer MAST 13 High-speed, autonomous surface vehicle
Slide 23: Disclaimer
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 invitation to subscribe for or purchase any securities in Austal or as an inducement to make an offer or invitation with respect to those
Slide 24: Further Information
Further Information Paddy Gregg, Chief Executive Officer Telephone: +61 8 9410 1111 www.austal.com ASX: ASB austal.com End 24