Slide 1: FY2022 H1 Results
FY2022 H1 Results For personal use only 25 February 2022 Paddy Gregg, Chief Executive Officer Geoff Buchanan, Interim Chief Financial Officer 1. Welcome to FY2022 H1 results 2. Introduce Geoff Buchanan as Interim CFO 1
Slide 2: Financial Headlines FY2022 H1
Financial Headlines FY2022 H1 For personal use only $m FY2022 H1 Change from PCP Revenue $ 722 m (14%) EBIT $ 71.1 m 1% NPAT $ 45.1 m (14%) Interim Dividends Declared 4 ¢ per share - Operating Cash Flow $ 43.1 m (48%) 1 Net Cash $ 188.7 m (27%) FY2022 Full Year EBIT - minimum $ 107.0 m 1. FY2021 exc
Slide 3: FY2022 H1 Key Facts
FY2022 H1 Key Facts For personal use only $722 M $2.2 B 25 5 4,900 SHIPS UNDER SHIPS REVENUE ORDER BOOK EMPLOYEES CONSTRUCTION DELIVERED OR SCHEDULED 37 VESSELS UNDER 5 SHIPYARDS 8 SERVICE CENTRES SUSTAINMENT CONTRACTS IN 4 COUNTRIES IN 4 COUNTRIES 3 1. Some significant orders in the half as per ASX
Slide 4: Earnings
Earnings For personal use only $m FY2022 H1 FY2021 H1 Change % Lower revenue driven by lower throughput Revenue $ 722.4 $ 840.3 $ (117.9) (14%) (More detail: Slide 5) EBITDA 94.3 92.4 1.9 2% Higher EBITDA and EBIT driven by: • Strength of USA shipbuilding margin • Accelerated release of continge
Slide 5: Group revenue movement
Group revenue movement For personal use only Lower throughput Average FX Increased Defence $M movement with reducing LCS & Reduced dockings work almost offset Lower emergent ~300,000 lost driven by COVID work from CCPB FY2022 H1: US$0.732 commercial employee hours due restrictions dockings FY2021 H1
Slide 6: Group EBIT movement
Group EBIT movement For personal use only Reduced $(6.7) m provision Successful availabilities driven for Philippines Average FX movement achievement of Lower emergent by COVID- typhoon damage $M FY2022 H1 US$0.732 milestones, & 19 restrictions work from CCPB partly offset by FY2021 H1: US$0.725 acc
Slide 7: Segment breakdown
Segment breakdown For personal use only FY2022 H1 $m Concept Ships Support Total USA: Reduced throughput reduced revenue, further Revenue $ 457.0 $ 74.9 $ 531.9 impacted by FX impact of $5.4m USA EBIT 72.9 3.8 76.7 FX impact on EBIT $(0.3)m EBIT Margin % 15.9% 5.1% 14.4% Shipbuilding EBIT marg
Slide 8: Cash flow
Cash flow For personal use only $m FY2022 H1 FY2021 H1 Change Operating: Operating $ 43.1 $ 83.5 $ (40.4) Timing of milestone receipts influences half on half comparisons Investing Sustaining $ (11.9) $ (10.8) $ (1.1) Investing: Enhancing (61.7) (32.8) (28.9) Enhancing capital expenditure on San
Slide 9: Financial Outlook
Financial Outlook For personal use only FY2022 baseline Revenue forecast $1.4 B @ USD / AUD 0.73 (Previously $1.5 B @ USD / AUD 0.76) Strong first half off the back of accelerated contingency release Future years EBIT will be based on mature, efficient shipbuilding programs; growing support re
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 • Delivered LCS 28 - “USS Savannah” and LCS 30 - the “USS Canberra” • Christened LCS 32 – “USS Santa Barbara” and EPF 13 – “USNS Apalachicola” • EPF and LCS programs continue to perform well – on schedule & on budget • Facility expansion & new steel p
Slide 12: Operational Highlights Australasia
Operational Highlights Australasia For personal use only • All sites fully vaccinated against Covid and operational • Delivered 12th & 13th Guardian Class Patrol Boat, delivered 2nd 118m Trimaran to Fred Olsen • First Evolved Cape successful trials with handover due 11th March. Second Evolved Cape l
Slide 13: FY2022 Operational Outlook Update
FY2022 Operational Outlook Update For personal use only • Deliver LCS • Deliver Guardian program • Deliver Mols Express 5 • Deliver the design and build contract Current • Deliver EPF in December 2022 • Deliver CCPB program for 66 m catamaran • Deliver T-ATS Q2 2023 • Support from Darwin, • San Dieg
Slide 14: For personal use only
For personal use only 14 1. 2050 because the life of our vessels is 25‐30 years 2. Our 10 year growth rate exceeds peers but still lacks scale 3. The makeup of our business has changed significantly but needs to keep changing to meet market demands and opportunities 4. 4 meta‐trends drive this: regi
Slide 15: Expanding Shipbuilding
Expanding Shipbuilding For personal use only New Steel Shipbuilding Facilities Philippine Navy OPV Austal USA Austal Philippines Future-ready Fast Ferries - Pathways to Net Zero Emissions 15 1. We continue to expand our capabilities and product offerings. 2. The Steel facility will open ahead of sch
Slide 16: 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 17: Extend Support
Extend Support • Austal market share today only 1% of total Navy For personal use only spend • US Navy Sustainment budget growing at > 5% CAGR 1 • SSC (fleet size planned to more than double by 2030 2 • Facilities in homeport locations key to work share growth New Support Facilities Refurbished Slip
Slide 18: Strategic Outlook
Strategic Outlook For personal use only 1. Fundamentally delivering our growth and diversity plan 2. Well positioned for future steel orders 3. Big wins in sustainment with San Diego (SEC W), IDIQ Singapore, SEC E growing 4. COVID-19 remains a challenge but we have delivered for the last 2 years, no
Slide 19: 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 20: End
End For personal use only ASX:ASB austal.com 20