Austal Limited · ASX:ASB
Austal — Investor Presentation (February 2019)
16 slides from Austal's investor presentation, Feb 28, 2019
Slide 1: FY2019 Half Year Results
FY2019 Half Year Results EXPRESS 4 Teal shall, tuk 28 February 2019= = David Singleton, Chief Executive Officer : Greg Jason, Chief Financial Officer =
Slide 2: Financial Headlines
Financial Headlines Revenue EBIT NPAT Interim Dividend Operating Cash Flow Net Cash’ 1. Excludes Cape Class Patrol Boats 9 & 10 lease Half on Half change $851m 31% t $40.4 m se, ft $23.7 m 2% t 3 ¢ per share 50% t $102 m up$igm $107 m up $118 m t
Slide 3: Key Facts
Key Facts = —— We ’/ \ = ff mgs El mz — , a $851m ~$5.2b 7 47 6 SHIPS UNDER SHIPS EINE inlets 10 ORTERERS CONSTRUCTION DELIVERED OR SCHEDULED 6 SERVICE CENTRES Bie *. =p 5‘SHIPYARDS ATTA TT 5,560 EMPLOYEES » a ae, / VESSELS UNDER SUSTAINMENT GR REFURBISHMENT
Slide 4: USA Business performing ahead of expectations
USA Business performing ahead of —— Australasia growing rapidly * Asia shipyard exnausion in in = - operation = expectations: - Vessel awards driving higher ~ Fevenue. . 4 LCS won in competition. — =. - Delivered Th F x ‘ Trimaran, Trinidad. Catamaran. i i e ‘ Mais: vessel largest. ever” “ver {by vo
Slide 5: Photo: Willie Blaauw
ea as Photo: Willie Blaauw
Slide 6: Earnings
Earnings $m FY2019 H1_FY2018H1" Change Revenue $ 851.5 $ 650.3 $ 201.2 EBITDA 60.7 43.8 16.9 EBIT 40.4 26.5 S}.8) NPAT 23.7 23.2 @.5 EPS (cents) 6.7 6.7 - 1. FY2018 H1 restated for adoption of AASB 15 Revenue accounting standard Operating Revenue increased across all shipyards (pre positive FX impac
Slide 7: Australasia reporting segment integrates shipbuilding capability across multiple shipyards
Australasia reporting segment integrates shipbuilding capability across multiple shipyards or DESIGN + PROJECT MANAGEMENT f PROCUREMENT CONSTRUCTION SPECIALIST CONSTRUCTION SUPPORT PROJECT MANAGEMENT MODULE CONSTRUCTION POWERTRAIN INSTALLATION PRODUCTION TEAM SUPPORT LAUNCH SUPPORT
Slide 8: Segment revenue and EBIT by region
$m Concept Ships Support Other Total Revenue $ 596.7 $ 90.1 $ - $ 686.8 USA EBIT 42.2 6.9 (0.0) 49.1 EBIT Margin % 7.1% 7.7% - 7.2% Revenue $ 139.0 $ 30.6 $ - $ 169.7 Australasia EBIT 2.5 1.6 - 4.1 EBIT Margin % 1.8% 5.1% - 2.4% $m Concept Ships Support Other Total Revenue $ 495.3 $ 59.7 $ - $ 555.0
Slide 9: Cash flow and cash position
• $m FY2019 H1 FY2018 H1 Change • Operating $ 101.9 $ (16.9) $ 118.8 • Investing Sustaining $ (7.0) $ (3.6) $ (3.4) Enhancing (12.6) - (12.6) • CCPB 9 & 10 - (3.0) 3.0 • Financing Debt $ (8.5) $ (6.8) $ (1.7) • Dividends (10.0) (6.3) (3.7) • FX differences 7.4 (1.8) 9.3 Net Cash Flow $ 71.3 $ (38.5)
Slide 10: Net Cash / (Debt)
Net Cash / (Debt)! * hy pts Vv a) ——— — seed a ee ee OE AGN a A = ($50) (Debt) | vay A IN } Sa ACS! ee! A> V one Ar NV ™ ($150) BS wa Dec Dec Jun Dec Jun
Slide 11: U.S. Navy photo by Mass Communication Specialist 2nd Class Chelsea D. Meiller/Released)
U.S. Navy photo by Mass Communication Specialist 2nd Class Chelsea D. Meiller/Released)
Slide 12: Guidance Up
Guidance Up SEES Dpisriee 1 or 2 LCS from 2018 US fiscal budget GY a 1 EPF from 2018 US fiscal budget A i Trinidad & Tobago Cape Class Patrol Boats B — attr Philippines OPVs 2 F=%
Slide 13: Continuing to pursue opportunities for further orders
Continuing to pursue opportunities for further orders —_Capacity expansion: in Asia fully functional i in EYeoig H2 © oa - B-vessels | in onstruction excluding China = = ? G 7 = “Australasia shipbuilding revenue to double —= G - oY) ~ Australasia Feturn sto-profit (EBiT) : = i ae
Slide 14: Continued Naval Support growth
Conunved Naval Support growt 4 GCPB SUmRBFE starts Fvenig 7 Ge = CCPB support performance improvement on
Slide 15: Disclaimer
David Singleton, 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 subscribe f
Slide 16: Slide 16