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General Information

Austal Limited
ASB
http://www.austal.com
Construction Machinery & Heavy Trucks
618
347

Current Price Data+

Current Price Open High Low Last Close Volume Price Movement
$1.78 $1.77 $1.78 $1.75 $1.78 308617 - ( No change )
  • +Security prices are delayed by least 20 minutes and are indicative only.

Current Broker Consensus Recommendation

Strong Buy
21/05/2015
1

Company Overview

Business Description
Austal Limited (ASB) is a global defence prime contractor and a designer and manufacturer of defence and commercial ships. Austral involves in the design, construction and maintenance of revolutionary ships for Governments, Navies and Ferry operators around the world. Business units comprise ships, systems, and support.
Strategy Analysis
ASB offers a diversified range of vessels across a wide geographic market. Its current focus is on commercial and defence shipbuilding but a strong A$ and soft European ferry market is forcing a scale down in commercial shipbuilding in Australia and a refocus on defence work. The newly acquired Philippines shipyard will focus on constructing smaller commercial vessels at a more competitive cost. Recent defence contract wins should lessen earnings volatility, as they tend to span over a few years. The establishment of a Service business with long-term maintenance contracts will also provide another stable revenue stream. Austal reported NPAT of $5.4m for the half-year ended 31 December 2012. Revenues from ordinary activities were $389.41m, up 45.6% from the same period last year. Diluted EPS was 2.14 cents compared to (1.26) cents last year. The net operating cash outflow was $20.92m compared to an outflow of $2.9m in the pcp. No dividend was declared.

Financial Summary

Year to Jun NPAT EPS EPS chg (%) PER DPS Yield (%) Franking (%)
2016 F 0.0 15.3 14.5% 11.6 5.0 2.8% 0.0%
2015 F 0.0 13.4 19.1% 13.3 4.0 2.3% 0.0%
2014 A 38.8 11.2 -14.7% 8.0 0.0 0.0% 0.0%

Peer Comparison

Company Mkt Cap EPS Growth (%) P/E (%) Dividend Yield (%)
2014 A 2015 F 2016 F 2014 A 2015 F 2016 F 2014 A 2015 F 2016 F
Austal (ASB) $618M -0.1471 0.1913 0.1449 15.8363 13.2935 11.6112 0.00% 2.25% 2.81%
Bradken (BKN) $373M -0.1762 -0.1093 0.0112 6.7681 7.5985 7.5147 11.93% 1.14% 2.65%

Financial Summary

Earnings P/E Ratio P/B Ratio P/E Growth
Company 1.54 13.50 1.42 0.80
Market 1.01 17.00 1.33 1.59
Sector 0.66 9.53 0.81 0.61

Directors

Name Position Start Date
Mr Andrew Bellamy Chief Executive Officer, Executive Director 24/02/2011
Mr John Rothwell Non-Executive Chairman 09/10/1987
Mr Charles Roland Giles Everist Non-Executive Director 08/11/2013
Mr David Patrick Alexander Singleton Non-Executive Director 21/12/2011
Mr James (Jim) White McDowell Non-Executive Director 31/12/2014

Management

Name Position
Brian Leathers Chief Financial Officer USA
Greg Jason Group Chief Financial Officer
Graham Backhouse President Australia
Joselito Turano President Philippines
Craig Perciavalle President USA

Substantial Shareholders

Holding Name
55,850,870 (16.12%) HSBC Custody Nominees
54,921,985 (15.85%) J P Morgan Nominees Australia Limited
41,721,882 (12.04%) National Nominees Limited
32,841,970 (9.48%) Citicorp Nominees Pty Ltd <CFS Developing Companies A/C>
32,200,745 (9.29%) Austro Pty Ltd
27,870,610 (8.04%) Navigator Australia Ltd

Calendar of Events

Date Event
25 February 2016 Report (Interim)
26 August 2015 Report (Prelim)
26 August 2015 Report (Annual)
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