Slide 1: 2010 Financial Results Investor Briefing Package
For personal use only 2010 Financial Results Investor Briefing Package 20 August 2010
Slide 2: Agenda
Agenda For personal use only • Results Highlights and Key events • Group Financial Summary o Austal Australia o Austal USA o Service • Investment Program • Vessels Completed in FY2010 • Current Orders • LCS Update • JHSV Update • Summary 2
Slide 3: Results highlights and Key events
Results highlights and Key events For personal use only AUD $M 2010 2009 Change Revenue 521.4 21.1 500.4 4% EBIT 52.7 4.7 1.0 5,170% Net profit after tax 8.537.1 cents 9.2 303% EPS 20.3 cents 5.0 cents 306% NPAT adj. for abnormal items 39.6 38.5 3% Key events during the H2 2010 • Full award of contr
Slide 4: Balance sheet Review
Balance sheet Review For personal use only AUD $M 2010 2009 Change Total Assets 648.1 503.7 29% Cash 30.2 94.0 (68%) Inventories 275.3 104.8 163% Property, plant & equipment 217.7 187.2 16% Total Liabilities 378.8 268 41% Loans/borrowings 125.9 37.9 232% Deferred tax liability 36.9 17.6 110% Equity
Slide 5: Austal Australia
Austal Australia For personal use only AUD $M 2010 2009 Change Revenue 219.7 260.3 (16%) EBIT 27.6 24.3 14% EBIT % 13% 9% 35% PBT 27.1 24.8 9% • Revenue contraction reflects the impact of the GFC on traditional markets • Work in progress comprises: • Nordic Ferry Services 113 metre Catamaran • 2 x 4
Slide 6: Service
Service For personal use only AUD $M 2010 2009 Revenue 30.8 n/a - EBIT 3.9 n/a - EBIT % 13% n/a - PBT 3.9 n/a NB: excludes charter income • Revenue reflects the substantial growth in the Service business over the year resulting from a strategic focus on this segment as core business • 6 locations no
Slide 7: Austal USA
Austal USA For personal use only AUD $M 2010 2009 Change Revenue 267.0 21.1 226.7 18% EBIT 23.7 4.7 (24.7) - EBIT % 8.59% cents - - PBT 21.9 (24.2) - • Growth between periods reflects the growth in the US order book. FY 2011 should see the achievement of “steady state” revenue from the JHSV program
Slide 8: 2011 Investment Program
2011 Investment Program For personal use only US 2010 US excl. Incremental- AUD $M Actual Aust. LCS LCS Plant & Equipment 12.3 1.6 7.4 Furniture & Equipment 1.7 0.9 1.9 Information Technology 1.9 0.6 2.9 Building improvements 23.0 0.4 7.9 New Office 12.6 New land and improvements 29.8 Bay 5 addition
Slide 9: Austal USA Expansion
Austal USA Expansion For personal use only Alabama Marine Science Centre (LCS)
Slide 10: Vessels completed FY 2010
Vessels completed FY 2010 For personal use only 2 X 22m Queensland Police Patrol Boats 4 X 21m Maltese Coast Guard Vessels 6 X 30m Trinidad & Tobago Patrol Boats 1X 127m US Navy Littoral Combat Ship 10
Slide 11: Vessels completed FY 2010
Vessels completed FY 2010 For personal use only 4X 48m Water Taxis 11
Slide 12: Vessels completed subsequent to year end
Vessels completed subsequent to year end For personal use only 12
Slide 13: Over $1.2B Currently Under Contract
Over $1.2B Currently Under Contract For personal use only • 1 x 113m vehicle ferry for Nordic Ferry Services (Denmark) • 2 x 47m passenger ferries for L’Express des Illes (Guadeloupe) • 1 x 127m Littoral Combat Ship (LCS) for US Navy • 3 x 103m Joint High Speed Vessel (JHSV) for US DOD • Long lead m
Slide 14: LCS Update
LCS Update For personal use only • LCS 4, USS Coronado, approximately 26% complete. Delivery is scheduled for late 2012 • Tender for 10 vessel contract worth circa US$4.5B is still expected to be awarded during September 2010. • Austal is acting as Prime Contractor in the bid, with GD – AIS as our s
Slide 15: Joint High Speed Vessel update
Joint High Speed Vessel update For personal use only • The US Department of Defence’s high speed Theatre Support Vessel • JHSV 1 under full construction, delivery December 2011 • JHSV 2 and 3 full construction awarded January 2010 • Options for a further seven vessels • Long lead time material order
Slide 16: United States Navy Order book potential
United States Navy Order book potential For personal use only FY10 FY11 FY12 FY13 FY14 FY15 FY16 FY17 FY18 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 H1 H2 LCS 4 (Coronado) JHSV1 = LCSs currently under contract LCS 5 JHSV 2 = JHSVs currently under contract LCS 6 JHSV 3 = JHSV options remaining to
Slide 17: Summary
Summary For personal use only • Headline result returned to more “typical” profitability levels, whilst the underlying result is consistent with prior year performance. • Balance sheet remains strong and capital is in place to fund expansionary requirements as required • Proven business that continu
Slide 18: Questions?
For personal use only Questions ? 18
Slide 19: LCS overview
LCS overview For personal use only (2) H-60 (Deck Strength (1) H-53) Med Cal Gun 19
Slide 20: Investor Relations contact
Investor Relations contact For personal use only Richard Simons, Chief Financial Officer Telephone: + 61 8 9410 1111 For further information www.austal.com Disclaimer This presentation and any oral presentation accompanying it has been prepared by Austal Limited (“Austal”). It should not be consider