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Austal Limited (ASX:ASB)

ALERT: Price-sensitive ASX Announcement for ASB
Current share price for ASB : $3.960 0.12 (3.13%)+
Announcement
Release
11 Aug 2026 9:00AM
Price at Release
$3.840
Full Release
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Summary
Austal Limited announced a market and trading update revealing that its Australasia business is performing well with an expected EBIT of approximately $62 million for FY2026. However, Austal USA anticipates an EBIT loss of approximately $(175) million due to unrecovered contractual claims. This results in a group EBIT loss expected to be around $(113) million for FY2026. Additionally, Austal received a non-binding proposal from Hanwha Defence USA, Inc., to acquire the Austal USA business for an enterprise value of US$1.05–1.20 billion, subject to due diligence and regulatory approvals. The proposal excludes Austal's core Australasia operations, preserving its sovereign shipbuilding mandate. Austal has ended its trading halt following this announcement.
Key Points
  • Austal's Australasia business expected to record $62 million EBIT for FY2026.
  • Austal USA faces an EBIT loss of approximately $(175) million.
  • Overall Group EBIT loss expected to be $(113) million for FY2026.
  • Non-binding proposal from Hanwha Defence USA to acquire Austal USA for US$1.05–1.20 billion.
  • Proposal subject to due diligence and regulatory approvals.
  • Austal's Australasia operations remain unaffected, preserving its shipbuilding mandate.
  • Trading halt lifted following the announcement.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.