Slide 1: FY2018 H1 results
FY2018 H1 results For personal use only 117m new design Trimaran for Fred Olsen in Europe. Construction commences in Henderson August 2018 with delivery in March 2020. David Singleton, Chief Executive Officer 27 February 2018 Greg Jason, Chief Financial Officer
Slide 2: FY2018 H1 Highlights
FY2018 H1 Highlights 5,250 Order Book Revenue For personal use only ~ $3.4 billion $653 million Employees 42 9 1 3 Naval Ships Ordered Ferries Ordered Ships on Order Worth $380 million Ships Delivered in H1 (worth >A$700 million) FY2018 Vessel Construction Programs FY2018 Sustainment & Refurbishment
Slide 3: Operational Highlights
Operational Highlights For personal use only USA Business progressing as expected : o Shipbuilding margin increased from 6.6% to 7.6% o LCS 12 & EPF 9 delivered o ~ $750 million for new vessel (LCS 30 Oct 2017) Commercial ferry market remains strong: o $380 million of new orders (Total order boo
Slide 4: FY2018 H1 Financials
FY2018 H1 Financials For personal use only Customer celebration with Mols Linien. 50% complete on Express 4 | Henderson. SHIPS SYSTEMS SUPPORT 4
Slide 5: Earnings
Earnings For personal use only FY2018 FY2017 Revenue $m Change H1 H1 Stable despite higher exchange rate for Revenue $ 652.9 $ 649.2 $ 3.7 translating USD earnings EBIT & EBITDA EBITDA 46.5 33.3 13.2 Significant increase EBIT 29.2 18.1 11.1 FY2017 H1 was depressed by legal settlement NPAT
Slide 6: Segment breakdown
Segment breakdown For personal use only $m Concept Ships Systems Support Other Total Revenue $ 416.4 $ 81.6 $ 59.7 $ - $ 557.7 USA EBIT 31.7 2.1 2.6 (0.3) 36.2 EBIT Margin % 7.6% 2.6% 4.4% - 6.5% Revenue $ 44.4 $ - $ 36.5 $ - $ 80.8 Australia EBIT (3.1) - 3.1 - (0.0) EBIT Margin % (7.0%) - 8.5% - (0
Slide 7: Cash and debt
Cash and debt For personal use only $m FY2018 FY2017 Change Negative operating cash flow: Cashflow H1 H1 o ~ $240 m operating cash flow over last 4.5 years Operating $ (16.9) $ (43.8) $ 27.0 o $50 m working capital movements month to month o Cash flows from delivery of EPF 9 & LCS 14 to be Investi
Slide 8: Net cash / (debt) – subject to volatility in working capital
Net cash / (debt) – subject to volatility in working capital For personal use only Net Debt $(11) m excluding A$ M CCPB 9 & 10 residual buyback guarantee $100 Jun 2016 $52 M Dec 2015 $31 M $50 Jun 2017 Dec 2016 $19 M Dec 2014 Jun 2015 $13 M Cash $7 M $(4) M $0 (Debt) ($50) Dec 2013 Dec 2012 $(100) M
Slide 9: FY2018 H1 operational performance
FY2018 H1 operational performance For personal use only John Rothwell AO and Austal Australia Staff proudly celebrating Australia Day (vessel is super structure for Mols). SHIPS SYSTEMS SUPPORT 9
Slide 10: USA operations
USA operations For personal use only Shipbuilding margin improvement VESSEL PROGRAMS: Littoral Combat Ship (~$7.5 billion program) o Turnaround developing well and confidence continues to grow o LCS 12 delivered in the half and LCS 14 imminent USS Mobile (LCS 26) first plate cut | Mobile, Alabam
Slide 11: Australia operations
Australia operations For personal use only Shipbuilding – at front-end design phase on two significant vessel programs throughout CY2017 but construction volume to increase in FY2018. o Pacific Patrol Boat (~$305 m, 19-ship program) − Strategically important; in line with budget and time. − First
Slide 12: Asia (Philippines & China)
Asia (Philippines & China) For personal use only Philippines o FRS - ferry for Germany will be delivered in FY2018 H2. ($22m, 56m vessel) o VS Grand Tours $5 m - Construction of a 30 m ferry just commenced. o Fjord Line (~ $108 m, 109 m vehicle passenger ferry). First metal was cut February 2018.
Slide 13: Disclaimer
Disclaimer For personal use only David Singleton, Chief Executive Officer Greg Jason, 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”).