Slide 1: 2012 Financial Results Investor Briefing Package
For personal use only 2012 Financial Results Investor Briefing Package
Slide 2: Agenda
AGENDA For personal use only • Results Highlights and Key events • Group Financial Summary o Balance sheet review o Austal USA o Austal Australia o Service and Systems • Order Book Backlog • Summary
Slide 3: Results Highlights & Key Events
RESULTS HIGHLIGHTS & KEY EVENTS For personal use only AUD $M Dec-11 Dec-10 Change Revenue 267.4 21.1 251.2 6% EBIT (4.0) 4.7 20.5 (120%) Net profit after tax 8.5(3.0) cents 14.1 (121%) EPS -1.63 cents 7.68 cents • Operating loss driven by: • Low level of activity in Australian business until Customs
Slide 4: Balance Sheet Review
BALANCE SHEET REVIEW For personal use only AUD $M Dec-11 Jun-11 Change Total Assets 707.4 674.6 5% Cash 39.6 42.3 (6%) Restricted cash 72.2 128.9 (44%) Inventories 183.8 177.9 3% Property, plant & equipment 291.2 208.3 40% Total Liabilities 461.4 400.4 15% Bank loans 46.7 16.7 180% Go Zone Bonds ("G
Slide 5: Austal USA
Austal USA For personal use only USD $M Dec-11 Dec-10 Change Revenue 240.8 21.1 149.1 62% EBIT 5.0 4.7 13.9 (64%) EBIT % 8.52% cents 9% (7%) PBT 1.0 13.3 (92%) • Non recurring “First in class” issues: • Recruitment rate versus efficiency and quality • Lack of design maturity leading to rework • “Les
Slide 6: Austal Ships
AUSTAL SHIPS For personal use only AUD $M Dec-11 Dec-10 Change Revenue 30.5 93.0 (67%) EBIT (5.7) 6.8 (184%) EBIT % (19%) 7% (26%) PBT (7.7) 11.0 (170%) • Continuation of trend from June 2011 – transitional period from commercial to defence shipbuilding. • Asset utilisation to improve in line with r
Slide 7: Service & WestPac Express
SERVICE & WESTPAC EXPRESS For personal use only AUD $M Dec-11 Dec-10 Change Revenue 13.5 13.2 0.0 2% EBIT (0.3) 1.3 0.0 (123%) -100% EBIT % (2%) 10% - (12%) PBT (0.3) 1.3 (123%) • One of costs impacted WestPac Express charter profitability • Consolidating global service footprint to support US Navy
Slide 8: Order Book Backlog $1.87B at December 2011
ORDER BOOK BACKLOG $1.87B AT DECEMBER 2011 For personal use only • 3 x 127m Littoral Combat Ships for US Navy • 7 x 103m Joint High Speed Vessels for US Navy • 1 x 35m monohull ferry • 1 x 41m catamaran ferry • 8 x 58m patrol boats for Australian Customs • 3 x 21m catamaran wind farm vessels • LCS T
Slide 9: Summary
SUMMARY For personal use only • US production facility is full through to 2017. • The „franchise‟ from long term vessel programs is beginning to appear. • Activity in the Australian operations is ramping up for the commencement of production for CCPB. • Philippines Shipyard Operation is ramping up w
Slide 10: Questions?
For personal use only QUESTIONS ?
Slide 11: For further information
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 considered as an offer or invitatio