Austal Limited · ASX:ASB
Austal — Euroz Bespoke Industrial Forum (June 2024)
11 slides from Austal's conference presentation, Jun 18, 2024
Slide 1: Investor Update
FY2024 Austal For personal use only Investor Update Paddy Gregg Chief Executive Officer 18 June 2024 1
Slide 2: Group H1 Results Summary
Group H1 Results Summary TOTAL REVENUE EBITDA ORDER BOOK (inc. options) 7.0% on HY23 $37.9m on HY23 +$5.7bn on HY23 $718m $65.3m $12.7bn EBIT NPAT +$34.1m on HY23 +$19.3m on HY23 $32.1m $12.0m For personal use only NET CASH $(29.5)m on HY23 $28.1m © Copyright 2024 Austal, All Rights Reserved 2 1. Re
Slide 3: Order Book & Future
VIRGINIA CLASS Order Book & Future MODULES T-AGOS LCS FORD CLASS ELEVATORS T-ATS OPC ECCPB & GCPB EPF LANDING CRAFT (MEDIUM) EMS LCU For personal use only AFD-M LANDING CRAFT (HEAVY) ROTTNEST FAST FERRIES OUSV3 GENERAL PURPOSE FRIGATE OCSV © Copyright 2024 Austal, All Rights Reserved 3 1. Significan
Slide 4: Austal USA
Austal USA For personal use only © Copyright 2024 Austal, All Rights Reserved 4 1. The profile of Austal USA’s ship build program is shown in the chart. 4
Slide 5: Austal Australia – Pipeline & Opportunities
Austal Australia – Pipeline & Opportunities For personal use only © Copyright 2024 Austal, All Rights Reserved 5 1. The profile of Austal Australia’s ship build program is shown in the chart. 2. Minister for defence industry in Australia announced Austal will build 2 more ECAPES. Australian Governme
Slide 6: Expanding Shipbuilding Capacity: USA
Expanding Shipbuilding Capacity USA 1. Invest in facilities for current and future shipbuilding programmes and additional submarine module capacity 2. Requirement for ~US$300m capital expenditure over three years 3. Half year FY24 operating cash generation of A$33m (~US$22m) 4. Focus on resolving th
Slide 7: Expanding Shipbuilding Capacity: Australia
Expanding Shipbuilding Australia Strategic Shipbuilding Agreement and Surface Fleet Review announced requiring: 1. +2 ECCPB’s already on contract 2. 18 x Medium Landing Craft 3. Heavy Landing Craft 4. 8 x General Purpose Frigates (11 in total, first 3 to be constructed overseas) 5. 6 x Optional Crew
Slide 8: Long term investment proposition
Long term investment proposition $M Group EBIT with EBIT Margin $ Austal Share Price $5 $160 $130 16.0% $115 $121 $4 $3.41 $3.23 $120 $93 12.0% EBIT $3 $2.37 $80 $63 Guidance 8.0% $1.86 $2.05 $1.80 $2.03 8.4% 3% - 4% $2 $40 6.3% 7.3% 4.0% 4.6% 5.0% $(5) $1 $0 0.0% $0 (0.3%) ($40) (4.0%) FY2018 FY201
Slide 9: Comparison to Defence Primes
Comparison to Defence Primes Price as % Enterprise EV / EBITDA (x) EV / FCF (3) (x) of 52 Wk. Value (2) Company CY 2024E CY 2025E CY 2024E CY 2025E High (1) ($m) RTX Corporation 86.0% 243,410 12.4 11.5 15.4 14.2 Lockheed Martin 86.0% 182,746 12.3 12.1 15.0 14.8 General Dynamics 100.0% 127,363 14.0 1
Slide 10: Disclaimer
Disclaimer Christian Johnstone, Chief Financial 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
Slide 11: End
For personal use only ASX:ASB austal.com End © Copyright 2024 Austal, All Rights Reserved 11