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Slide 2: Annual General Meeting 2004
Annual General Meeting 2004 Mr John Rothwell AO Executive Chairman
Slide 3: Austal Overview
Austal Overview Austal is an integrated shipbuilder based in Western Australia Operates from three construction yards in Henderson, WA and one in Mobile, Alabama in the USA Diverse product range – Commercial vessels – Defence vessels – Luxury motor yachts
Slide 4: Product Sectors
Product Sectors Austal Commercial Defence Yachts 2004 $187m $72m $31m Revenue Location Australia Australia Australia USA USA Brand Austal Austal Oceanfast
Slide 5: 2003/04 Highlights
2003/04 Highlights Profit of $20.1 million Lower losses from luxury yachts as contracts completed Increased activity in Defence market Improved results from US operation Solid forward order position Opportunities for growth particularly in Defence
Slide 6: Financial Summary
Financial Summary 2004 2003 ($ million) ($ million) Revenue 310.1 307.7 EBIT 24.4 (39.4) Operating Profit (Loss) Before Tax 24.7 (36.7) Net Profit (Loss) After Tax and OEI 20.1 (18.7) Earnings Per Share (cents) 10.4 (9.7)
Slide 7: Operations Summary
Operations Summary
Slide 8: Australia – 2003/04 deliveries
Australia – 2003/04 deliveries Commercial Vessels – 2 x 41.5 metre harbour cruise catamarans – 50.0 metre vehicle-passenger catamaran – 56.0 metre vehicle-passenger catamaran – 66.0 metre vehicle-passenger catamaran – 86.0 metre vehicle-passenger catamaran Defence Vessels – 3 x 22.0 metre patrol
Slide 9: Australia – current projects
Australia – current projects Commercial Vessels – 37.7 metre private research vessel – 2 x 47.5 metre passenger catamarans* – 50.0 metre adventure cruise vessel – 67.0 metre vehicle-passenger catamaran – 85.0 metre vehicle-passenger catamaran – 127 metre vehicle-passenger trimaran Defence Vessel
Slide 10: Australia – discussion
Australia – discussion Commercial Vessels – Consistently good performance Defence Vessels – Increased activity in this market – 22 vessels on order – RAN contract an important step – Other naval shipbuilding opportunities » Established relationship with Raytheon for Amphibious Ships project
Slide 11: Austal USA
Austal USA 2003/04 Deliveries – 43.0 metre passenger catamaran – 58.0 metre vehicle-passenger catamaran Under Construction / Contract – 31.2 metre military high speed vessel technology demonstrator – 105.0 metre vehicle-passenger catamaran
Slide 12: Oceanfast
Oceanfast 2003/04 Deliveries – 53.0 metre aluminium hulled motor yacht – 54.0 metre steel hulled motor yacht – 56.5 metre steel hulled motor yacht Under Construction / Contract – No vessels currently on order / under construction
Slide 13: Outlook
Outlook
Slide 14: Outlook – Commercial Vessels
Outlook – Commercial Vessels Sound order position Olsen trimaran – generating strong interest from market – successful trials expected to be a catalyst for further orders
Slide 15: Outlook – Defence Vessels
Outlook – Defence Vessels Austal is building a strong position in the defence sector RAN patrol boat contract provides revenue through to mid 2007 Australia – continuing interest in naval shipbuilding USA – progressing in Littoral Combat Ship (LCS) project RAN and LCS projects opening furt
Slide 16: Outlook – Austal USA
Outlook – Austal USA Littoral Combat Ship – Major opportunity for long term growth Hawaii Superferry – 2 x 105 metre vehicle- passenger catamarans
Slide 17: Outlook – Oceanfast
Outlook – Oceanfast No current contracts Sales and marketing effort redirected towards commercial and defence vessels Any future contracts to be undertaken on a very selective basis Shipyard resources being utilised for construction of other vessel types
Slide 18: Overall Outlook
Overall Outlook Favourable commercial / defence product mix in current orders Total forward revenue from current contracts approximately $500 million Well placed for growth in defence market Commercial market showing signs of slow recovery Austal USA will expand with development of LCS pro
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