Slide 1: FY2023 Full Year Results
FY2023 Full Year Results 31 August 2023 Paddy Gregg, Chief Executive Officer Christian Johnstone, Chief Financial Officer 1. Welcome to FY2023 Full Year results 2. Introduce Christian as new CFO 1
Slide 2: Financial Headlines FY2023
Financial Headlines FY2023 $m FY2023 FY2022 Revenue $ 1,585 m $ 1,429 m EBITDA $ 55.0 m $ 165.4 m EBIT $ (4.8) m $ 120.7 m NPAT $ (13.8) m $ 79.6 m Total Dividends Declared 7 ¢ per share 8 ¢ per share Operating Cash Flow $ 86.7 m $ 37.5 m Jun 2023 Jun 2022 Net Cash $ 49.7 m $ 115.6 m Order Book (inc
Slide 3: FY2023 Full Year - Key Facts
FY2023 Full Year - Key Facts $1,585 M $11.6 B 40 9 4,300 REVENUE ORDER BOOK SHIPS SCHEDULED OR SHIPS EMPLOYEES (with OPC & UNDER CONSTRUCTION DELIVERED TAGOS options) 60 VESSELS UNDER 5 SHIPYARDS SUSTAINMENT CONTRACTS IN 4 COUNTRIES 8 SERVICE CENTRES IN 5 COUNTRIES 3 1. Revenue has grown from last y
Slide 4: Group revenue movement
Group revenue movement Higher emergent Average FX TATS, AFDM & OPC Increased Decline in work from GCPB & movement throughput maintenance commercial vessel CCPB dockings and FY2023: US$0.67 offsetting the availabilities construction Trinidad CCPB FY2022: US$0.72 decline in LCS (post COVID) activity c
Slide 5: Group EBIT movement
Group EBIT movement T-ATS Loss YoY Higher emergent change of $(160) m Increased Average FX movement Decline in work from GCPB & Partly offset by maintenance FY2023: US$0.67 commercial vessel CCPB dockings and $33 m additional availabilities FY2022: US$0.73 construction activity Trinidad CCPB acceler
Slide 6: Segment breakdown
Segment breakdown FY2023 $m Concept Ships Support Total USA: Revenue $ 998.1 $ 226.9 $ 1,225.0 Shipbuilding revenue increase of $118 m is driven by $70 m favourable FX and $48 m greater activity. USA EBIT (9.5) 14.7 5.2 Shipbuilding EBIT declined with the $(160) m YoY EBIT Margin % (1.0%) 6.5% 0
Slide 7: Cash flow
Cash flow Operating: $m FY2023 FY2022 Change Favourable timing of milestone receipts, partially offset with Operating $ 86.7 $ 37.5 $ 49.2 ~US$(40) m of OPC supplier prepayments Investing Investing: Sustaining $ (8.8) $ (6.3) $ (2.5) Enhancing capital expenditure on San Diego expansion and Enhan
Slide 8: Historical investor data
Historical investor data $ Austal Share Price $M Group EBIT with EBIT Margin $5 $160 $130 16.0% $115 $121 $4 $3.41 $3.23 $120 $93 12.0% $3 $2.37 $80 $63 8.0% $1.86 $2.05 $1.80 8.4% $2 $40 7.3% 4.0% 6.3% 4.6% 5.0% $(5) $1 $0 0.0% (0.3%) $0 ($40) (4.0%) FY2018 FY2019 FY2020 FY2021 FY2022 FY2023 FY2018
Slide 9: Guidance FY24
Guidance FY24 Revenue Underlying EBIT + 8% to + 10% + 3% to + 4% (2023: $1,585) 9
Slide 10: Business Overview
Bus . a ee = iness g = = Overvie et OF 10
Slide 11: Operational Highlights USA
Operational Highlights USA • OPC contract execution underway - Eastern lawsuit outcome pending • EMS funded for 3 ships – hoping for award by Sept 2023 • LCU 1700 proposal submitted – hoping for award in Sept 2023 • Won T-AGOS award – potential 7 ship, $3.1B contract • T-ATS 5 awarded – working REA
Slide 12: Operational Highlights Australasia
Operational Highlights Australasia • Investment options developed to support CoA Defence Strategic Review outcomes • Digital Shipyard technologies implemented to support future Shipbuilding and Sustainment Programs • 5 x Evolved Cape Class now in service with RAN, positive feedback on capability and
Slide 13: Expanding Shipbuilding
Expanding Shipbuilding USA 1. Execute & expand - LCS, EPF, EMS, T-ATS, OPC, AFDM, LCU, OUSV 3, T-AGOS 1. Continue to invest on the back of order book (up to $11.6bn including unexercised options) and future opportunities 2. New program targets - EPF VLS, FFG FY, LUSV, MUSV, NGLS, LAW, AS(X), DDG(X),
Slide 14: Support Growing in line with $500m target in FY27
Support Growing in line with $500m target in FY27 AUSA grown from $175.8m FY22 to $226.9m FY23 Australia grown from $98.3m FY22 to $144.1m FY23 Support Revenue $m $500 $400 $300 $200 New $100 'Independence' $0 Floating Dock, San Diego USA 1. We have a target to grow our support business to $500m by
Slide 15: AUKUS
US Navy LUSV Design AUKUS • Submarine Modules • Autonomy • Additive manufacturing • Training people • Service work • Common platforms Saildrone Surveyor USNS Apalachicola (EPF13) – first EPF & largest US Navy surface ship with autonomous capability 1. Austal believed AUKUS will be a great opportunit
Slide 16: Strategic Outlook
Strategic Outlook 1. Execute the orderbook in the US 2. Resolve T-ATS challenges • Successful REA would deliver future improved earnings 3. Strong operational performance as demonstrated by ship deliveries and EBITDA 4. AUKUS and Australian Defence Strategic Review to provide a clear route ahead and
Slide 17: Disclaimer
Disclaimer Paddy Gregg, Chief Executive Officer Telephone: +61 8 9410 1111 For further information visit www.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 invitation to subs
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