Slide 1: Half 2008 Results Presentation
For personal use only 1 Half 2008 st Results Presentation Orhan Gazi 1 - delivered to the City of Istanbul in August 2007 - arriving in Istanbul Slide 1
Slide 2: Summary
For personal use only Summary • Revenue Up 33% • Net profit after tax $29.9 million • Earnings per share 15.8 cents per share • Cash balance $304 million • Dec 2007 Award of Katrina Funding US $33 million • Share buy back announced 2 million shares Slide 2
Slide 3: Recent Performance
For personal use only Recent Performance 1H2006 2H2006 1H2007 2H2007 1H2008 Revenue 167.8 224.6 250.5 295.4 333.7 EBIT 19.7 26.8 23.1 35.4 33.1 EBIT % 11.7% 11.9% 9.2% 12.0% 9.9% Profit before tax 19.6 30.0 25.8 37.9 42.2 Tax Expense 1.1 (6.5) (5.9) (12.0) (12.3) OEI 2.1 1.4 0.5 0.2 0.0 Net Profit 1
Slide 4: Current Orders
For personal use only Current Orders • 1 x 107 metre vessel for Hawaii Superferry • 2 x 66 metre vessels for Sultanate of Oman • 7 x 48 metre vessels for Cotai Strip (Macau) • 2 x 88 metre vessels for middle east • 2 x 69 metre vessels for middle east • 2 x 48 metre vessels for New World Fast Ferry
Slide 5: Productivity - Australia
For personal use only Productivity - Australia • Advanced Shipbuilding implementation continues. • Current ferry orders are extensively utilising block construction techniques. • Implementation of automated pipe bending machines. • Implementation of automated cutting / profiling machines for product
Slide 6: US Navy Littoral Combat Ship Status
United US Navy States Navy Littoral LittoralCombat Combat Ship ShipStatus For personal use only • Vessel launch scheduled for April 2008. • 75% complete when launched. • Handover of vessel to Navy late 2008. • Navy continued with acquisition of major equipment on cancelled LCS vessel. Slide 6
Slide 7: Statement by US Navy
For personal use only Statement by US Navy • “313 ship fleet is the floor.” • “You can look at the shipbuilding plan and you can see that LCS is the major driver of the number, and it’s not just to drive the number higher” • “The fact is that we as a Navy do have a gap in what I call the green water
Slide 8: LCS Shipbuilding Plan
For personal use only LCS Shipbuilding Plan FY08 FY09 FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 Original 3 6 6 6 6 5 6 6 5 - 2009 Plan 1 2 3 3 4 6 6 6 6 6 • Long range Navy plan shows continued commitment to 313-ship fleet and 55 ship LCS program • 2008 budget - US$337 million (1 vessel) - Award by Au
Slide 9: Joint High Speed Vessel Program
Joint High Speed Vessel Program For personal use only • Austal awarded US$3 million Preliminary Design contract in February 2008. • Contracts awarded to: - Austal - Bath Iron Works - Bollinger Shipyards • Likely program timeline: July 2008 Complete preliminary design Sep 2008 Award detailed design a
Slide 10: US Operations Expansion
For personal use only US Operations Expansion • Modular Manufacturing Facility to be built in two stages. • Design to commence in first half 2008. • Stage one expenditure up to US$70 million. • Stage one capacity – ability to build three LCS size vessels per year. • Construction of stage one to comm
Slide 11: Multi Role Vessel
For personal use only Multi Role Vessel • 80 - 90 metre trimaran • Large flexible RoRo mission / logistics deck • Multi mission helicopter capability • Systems packaged mission modules • Speed > 25 knots • Range 4,500 nautical miles at cruising speed Slide 11
Slide 12: Australian Submarine Corporation
Australian Submarine Corporation For personal use only • Australian Submarine Corporation to be privatised – Holds up to 25 year submarine maintenance contract – Builder for the $7 billion Air Warfare Destroyer contract – Reported $29.6 million profit after tax for 2007 – Austal teamed with General
Slide 13: Outlook
For personal use only Outlook Australian Operations • Sales enquiries for passenger only commercial vessels remain strong. • Continued gains from Advanced Ship Building modular construction through reduction in labour hours. • Increasing interest in Multi Role Vessel. • Continued focus on building c
Slide 14: Investor Relations Contacts
For personal use only Investor Relations Contacts John Rothwell Executive Chairman Greg Metcalf Chief Financial Officer Telephone +(61) 89 410 1111 For further information www.austal.com Slide 14