Slide 1: FY2022 Full Year Results
FY2022 Full Year Results For personal use only Paddy Gregg, Chief Executive Officer Geoff Buchanan, Interim Chief Financial Officer 26 August 2022 1. Welcome to FY2022 FY results 2. Introduce Geoff Buchanan as Interim CFO 1
Slide 2: Financial Headlines FY2022
Financial Headlines FY2022 For personal use only $m FY2022 Change from PCP Revenue $ 1,429 m (9%) EBIT $ 120.7 m 5% NPAT $ 79.6 m (2%) Total Dividends Declared 8 ¢ per share - Operating Cash Flow $ 37.5 m (60%) 1 Net Cash $ 115.6 m (50%) 1. FY2021 excluded the notional debt of the CCPB 9 & 10 leasin
Slide 3: FY2022 Full Year - Key Facts
FY2022 Full Year - Key Facts For personal use only $1,429 M $3.0 B 26 9 5,000 SHIPS UNDER SHIPS REVENUE ORDER BOOK EMPLOYEES ($7 B with OPC CONSTRUCTION DELIVERED options) OR SCHEDULED 42 VESSELS UNDER 5 SHIPYARDS 8 SERVICE CENTRES SUSTAINMENT CONTRACTS IN 4 COUNTRIES IN 4 COUNTRIES 3 1. Revenue dro
Slide 4: Earnings
Earnings For personal use only $m FY2022 FY2021 Change % Lower revenue driven by lower throughput (More Revenue $ 1,429.0 $ 1,572.2 $ (143.1) (9%) detail: Slide 6) Higher EBITDA and EBIT driven by: EBITDA 165.4 160.3 5.0 3% • Strength of USA shipbuilding margin • Accelerated release of contingen
Slide 5: Group revenue movement
Group revenue movement For personal use only Lower throughput Increased Defence Average FX with reducing LCS & Increased LCS & work offset by Full year impact of movement ~800,000 lost EPF support reduced Queensland FY2022: US$0.724 employee hours due contracts commercial acquisition FY2021: US$0.74
Slide 6: Group EBIT movement
Group EBIT movement For personal use only Successful FY2021 included Average FX achievement of Reduced FY2021 included Full year impact increased movement milestones, & throughput as unusually high of Queensland provisions for $M FY2022: US$0.728 accelerated margin contracts fewer ferries acquisitio
Slide 7: Segment breakdown
Segment breakdown For personal use only FY2022 $m Concept Ships Support Total USA: Revenue $ 880.1 $ 175.8 $ 1,055.9 Reduced revenue with lower LCS throughput partially offset by FX impact of $29.4m USA EBIT 122.1 11.6 133.7 FX impact on EBIT $3.2m EBIT Margin % 13.9% 6.6% 12.7% Shipbuilding E
Slide 8: Cash flow
Cash flow For personal use only $m FY2022 FY2021 Change Operating $ 37.5 $ 93.5 $ (56.0) Operating: • Timing of milestone receipts influence on the year-on-year comparisons Investing Sustaining $ (6.3) $ (8.6) $ 2.2 Investing: • Enhancing capital expenditure on San Diego expansion and USA steel tran
Slide 9: Financial Outlook
Financial Outlook For personal use only • Austal has secured a significant pipeline of work recently and the current macroeconomic environment is volatile, including residual impacts from COVID-19 • For this transition year as we move from established existing programmes through the design and long
Slide 10: Business Overview
Business Overview For personal use only 10 A Guardian Class Patrol Boat being transported from Hope Valley Road to waterfront for Launch. 10
Slide 11: Operational Highlights USA
Operational Highlights USA For personal use only • Offshore Patrol Cutter (OPC) contract win • Auxiliary Floating Dock Medium (AFDM) contract win T-ATS • Delivered LCS 30 - “USS Canberra” • Christened LCS 32 – “USS Santa Barbara” and EPF 13 – “USNS Apalachicola” • EPF and LCS programs continue to pe
Slide 12: Operational Highlights Australasia
Operational Highlights Australasia For personal use only • Delivered 4 Guardian Class, 1 Trimaran for FOSA, 1st Evolved Cape • 2 additional Evolved Capes awarded, taking class to 18 vessels in total, plus 2 exported to Trinidad and Tobago • Completed Aulong sale • De-recognised the balance sheet imp
Slide 13: Shipbuilding Contracts
Shipbuilding Contracts For personal use only • Pipeline of US Government and Commonwealth of Australia shipbuilding programs – aluminium and steel • Four ships awarded to Austal USA and two to Austal Australia in FY2022 • Recent awards valued at ~ US$3.7 Billion (including OPC options) Delivering sh
Slide 14: For personal use only
For personal use only 14 1. 2050 because the life of our vessels is 25-30 years 2. The makeup of our business has changed significantly but needs to keep changing to meet market demands and opportunities 3. 4 meta-trends drive this: regional insecurity/ supply chain localisation/ decarbonisation/ au
Slide 15: Expanding Shipbuilding
Expanding Shipbuilding For personal use only Future Shipbuilding Facilities - Austal USA Offshore Patrol 60 – a steel Cape Future-ready Fast Ferries - Pathways to Net Zero Emissions Patrol Boat Autonomy Trial – Sentinel 15 1. We continue to expand our capabilities and product offerings. 2. The Steel
Slide 16: Future Opportunities
Future Opportunities For personal use only Light Amphibious Warship Future Frigate Australian ILMV for the Australian Army T-AGOS Large Unmanned Surface Vessel SMART Autonomous Solutions There are numerous programmes that we are bidding for in the US and Australia, with a broader and deeper pipeline
Slide 17: Autonomy
Autonomy For personal use only • Focus on core capabilities – Designing ships from the keel up to operate autonomously – Providing autonomous machinery control systems • Autonomy Contracts – Convert EPF13 to be an autonomous platform – Convert an Armidale for Patrol Boat Autonomy Trial – Construct &
Slide 18: Enhancing Systems
Enhancing Systems With a growing range of digital products For personal use only + + LUSI • Vessel control & monitoring of • Machine learning to optimise • Fleet wide asset management all onboard equipment vessel performance & availability planning • Intuitive 3D interface • Recommendations in real-
Slide 19: Extending Support - Australia
Extending Support - Australia For personal use only Henderson, WA Darwin, NT Cairns, QLD Brisbane, QLD 1. Austal invested in refurbishing its Brisbane slipway in FY2022. 2. There is potential revenue growth in service work as more Guardian Class and Evolved Cape Class vessels are delivered. 19
Slide 20: Extending Support - USA
Extending Support - USA For personal use only Austal West Campus, Mobile, New Support Facilities Alabama, USA San Diego, California, USA 1. Austal successfully completed its acquisition of MGBW in San Diego in December 2021. 2. The Graphic show where we would operate the floating dock we have ordere
Slide 21: Strategic Outlook
Strategic Outlook 1. Fundamentally delivering our growth and diversity plan For personal use only 1. Steel 2. Systems 3. Autonomy 4. Future Fuels 2. Significant success in winning steel work with orderbook ~$7 billion (OPC options included) 3. Much broader and deeper pipeline 1. Programmes e.g. T-AG
Slide 22: Disclaimer
Disclaimer For personal use only 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
Slide 23: End
End For personal use only ASX:ASB austal.com 23