Austal Limited · ASX:ASB
Austal — H1 FY2009 Earnings Presentation
12 slides from Austal's earnings presentation, 2009
Slide 1: 1st Half 2009 Results Presentation
1 Half 2009 st Results Presentation Riyadh - delivered to Government of Saudi Arabia in December 2008 Slide 1
Slide 2: Financial Summary
Financial Summary H1 FY09 H1 FY08 Change Revenue $ 297.8M $ 333.7M - 11% EBIT $16.7M $ 33.1M - 50% Net profit after tax $16.9M $ 29.9M - 43% EPS 9.2 cents 15.9 cents - 42% Cash Balance $136M $304M - $168M • Progress payments received in advance now normalised • Provision for doubtful debts taken up
Slide 3: Key Impacts on Results
Key Impacts on Results • Global financial crisis - Increased financing hurdles for commercial clients - Lower oil prices for middle east clients • Delay in next LCS award - Working with US Navy to analyse pricing • Delay in delivery of LCS 2 • Investments in Austal USA infrastructure to support futu
Slide 4: Current Orders
Current Orders • 1 x 113 metre vessel for Hawaii Superferry • 1 x 103 metre Joint High Speed Vessel for United States Navy • 4 x 48 metre vessels for Cotai Strip (Macau) • 6 x 30 metre fast patrol vessels for Trinidad & Tobago • 3 x 22 metre vessels for Queensland Police • 2 x 69 metre vessels for m
Slide 5: US Navy Littoral Combat Ship Status
United US Navy States Navy Littoral LittoralCombat Combat Ship ShipStatus • Currently > 85% complete • In “test and activation” phase • Sea trials in May 2009 • Delivery to Navy no later than June 2009 Slide 5
Slide 6: Joint High Speed Vessel Status
UnitedHigh Joint States Speed Navy Vessel Status Joint High Speed Vessel Status • Contract awarded in Nov. 2008 • 107metres in length • Avg. cost over 10-ship program is US$160M • In detailed design phase • Production readiness review prior to construction start • Strong signals out of Department of
Slide 7: US Shipbuilding Plan
US Shipbuilding Plan FY08 FY09 FY10 FY11 FY12 FY13 FY14 2009 LCS Plan 1 2 3 3 4 6 6 JHSV Plan 1 2 2 2 2 1 - Approx. Award $500M $1.09B $1.47B $1.47B $1.86B $2.47B $2.31B value (AUD) • Both LCS & JHSV programs critical in meeting US Navy fleet numbers • The LSC and JHSV programs represent ~20% of the
Slide 8: US Modular Manufacturing Facility Update
US Modular Manufacturing Facility Update • Phase I construction started (350,000 sq. ft. under roof, 80,000 sq. ft. warehouse) • Project is two weeks ahead of schedule and budget • Phase I to be complete by August 2009 • Available in time for start of JHSV construction • Decision to build additional
Slide 9: Strategy
Strategy • Strategic planning off-site just completed • Key objectives focused on – Taking full advantage of defence program opportunities – More rigorous, focused commercial marketing and sales – Productivity/efficiency improvements – Workforce optimisation • Annual targets will flow from the 3 yea
Slide 10: Mapping our Strategic Focus
Mapping our Strategic Focus Marine products Platforms Large freighters Submarines Non ali vessels Steel surface combatants Composiites Service Work boats Non Austal ali vessels Submarines Fast ferries Steel surface combatants Private boats Austal vessels Transport Trimarans Corvettes Catamarans Patr
Slide 11: Market Outlook
Market Outlook • Active discussions / negotiations with numerous clients • Next LCS award this quarter • Start construction on JHSV 1 in Q3 of 2009 • Expect to learn of award of next two JHSV’s in Q2 2009 • Interest in patrol boats strong • Expect 1 – 2 large auto / passenger ferry orders per year •
Slide 12: Investor Relations Contacts
Investor Relations Contacts Greg Metcalf Chief Financial Officer Telephone +(61) 89 410 1111 For further information www.austal.com Slide 12