Slide 1: Austal Limited
AUSTAL AUSTAL LIMITED LIMITED AUSTAL AUSTAL SHIPS SHIPS IMAGE IMAGE MARINE MARINE OCEANFAST OCEANFAST AUSTAL AUSTAL USA USA
Slide 2: The Austal Group
THE AUSTAL GROUP ! Austal Limited is an integrated aluminium shipbuilder based in Western Australia; ! The company operates from three construction yards in Henderson, WA and one in Mobile, Alabama in the USA; ! Austal’s product range includes passenger and vehicle passenger ferries, cruise yachts,
Slide 3: Austal Group Brand Divisions
AUSTAL GROUP BRAND DIVISIONS AUSTAL LIMITED Image Marine Oceanfast Austal Ships Austal USA 30% Bender Shipbuilding USA Vessels < 50 M Luxury Motor Vessels to 100+ M US Domestic Yachts Market Passenger Vehicle Ferries Ferries Full Austal Passenger Ferries Shipbuilding Live-aboard Defence Range Vessel
Slide 4: Strategy Perspectives
STRATEGY PERSPECTIVES ! Building shareholder value by targeting profitable markets and building long- term stable revenue streams; ! Growth strategy based on diversification of products and identification of new markets to reduce cyclical risk; ! Internal focus on production efficiency and costs; !
Slide 5: Vessel Deliveries Since ASX Listing
VESSEL DELIVERIES SINCE ASX LISTING Image Marine Acquisition Oceanfast Acquisition & Austal USA Establishment 25 20 15 No. of vessels 10 5 0 1998 1999 2000 2001 2002 *2003 *2004 Pax Ferries Car Ferries Live-aboards Cruise Motor Yachts Patrol/Crew Boats * Based on current order book
Slide 6: Vessels Under Construction
VESSELS UNDER CONSTRUCTION Austal Ships • 2 x 69 metre cruise yachts for Tahiti; • 86 metre vehicle-passenger catamaran for North America; • 66 metre vehicle-passenger catamaran for Fred Olsen; • 49.9 metre vehicle-passenger ferry for Kangaroo Island. Image " 2 x 40 metre passenger catamarans for No
Slide 7: Vessels Under Construction
VESSELS UNDER CONSTRUCTION Oceanfast " 54 metre full displacement steel hull motor yacht; " 56.5 metre full displacement steel hull motor yacht; " 58 metre high speed luxury motor yacht; " 53 metre luxury motor yacht. Austal USA " 34 metre dinner cruise vessel for Miami; " 43.5 metre passenger ferry
Slide 8: Financial Perspectives
FINANCIAL PERSPECTIVES ! Listed on the ASX in December and is now capitalised at $114 million; ! Track record of profits despite cyclical nature of the industry and short-term troughs; ! Balance of revenue streams across key product and geographic markets; ! Demonstrated ability to build long-term r
Slide 9: Revenue History
AUSTAL REVENUE HISTORY A$ million 50 150 250 350 450 1998 1999 2000 2001 2002 Austal’s diversification strategy has ensured growth in revenue
Slide 10: Financial History
AUSTAL FINANCIAL HISTORY Operating profit before tax Net profit after tax A$ million 0 5 10 15 20 25 30 35 40 1996 1997 1998 1999 2000 2001 * ** 2002 Average * Operating profit before tax adversely effected by foreign exchange loss of $9.5M ** Tax favourably impacted by prior year tax adjustment of
Slide 11: Financial History
AUSTAL FINANCIAL HISTORY Dividend Earnings per share Cents 0 5 10 15 20 1999 2000 2001 2002 Average
Slide 12: 2002 Half Year Results
2002 HALF YEAR RESULTS December 2002 June 2002 $M $M TOTAL CURRENT ASSETS 101.7 142.3 TOTAL NON-CURRENT ASSETS 107.3 90.8 TOTAL CURRENT LIABILITIES 87.6 94.0 TOTAL NON-CURRENT LIABILITIES 0.5 4.5 NET ASSETS 120.9 134.6 INCLUDES CASH OF 44.4 13.9
Slide 13: Operational Changes for Improved Performance: Oceanfast
OPERATIONAL CHANGES FOR IMPROVED PERFORMANCE Oceanfast " Application of more efficient production practices; " Standardisation of contract specifications; " Structural changes to project management to better suit demands of current and future projects.
Slide 14: Operational Changes for Improved Performance: Austal USA
OPERATIONAL CHANGES FOR IMPROVED PERFORMANCE Austal USA " Implementation of an increased understanding of regulatory requirements for U.S. built vessels which will result in lower design and production costs; " Continued focus on increasing the workforce and implementation of training programs to en
Slide 15: Austal - The Future: Austal Ships
AUSTAL - The Future Austal Ships " Consistent revenue and profit performance; " Continued product diversification including: - cruise - defence - patrol boats
Slide 16: Austal - The Future: Austal Ships
AUSTAL - The Future Austal Ships Development of new hullforms to: - meet operators requirements - address the needs of new applications for high speed vessels - maintain technological advantage over other shipyards Other technological developments include expertise in gas turbine propulsion, hoistab
Slide 17: Austal - The Future: Oceanfast and Image Marine
AUSTAL - The Future Oceanfast " Increased share of the lucrative luxury motor yacht market " Interest from benchmark quality product i.e. “Aussie Rules” Image Marine " Continued specialisation in core products
Slide 18: Austal - The Future: Austal USA
AUSTAL - The Future Austal USA " Existing orders a significant step in US yard becoming a major supplier of aluminium vessels to the US commercial market; " Development of facilities and workforce to participate in future major US military projects e.g. Littoral Combat Ship program
Slide 19: Austal Limited
AUSTAL AUSTAL LIMITED LIMITED AUSTAL AUSTAL SHIPS SHIPS IMAGE IMAGE MARINE MARINE OCEANFAST OCEANFAST AUSTAL AUSTAL USA USA