Austal (ASB) Company Presentation summary

Company background and operations

• Established in 1988 in Perth, with major shipyards in Australia, USA, Philippines, and Vietnam, employing 4,324 people.

• Operates in both defence and commercial shipbuilding, delivering over 380 ships since inception.

• Global footprint enables modular production and cost leadership, especially in Asia.

• Key US and Australian shipyards serve government clients, while Asian facilities focus on commercial vessels.

Orderbook and contracts

• Record orderbook of $14.2 billion as of December 2024, driven by US naval programs like OPC and T-AGOS.

• Heads of Agreement with Australia for a Strategic Shipbuilding Agreement to expand future pipeline.

• Key contracts include 11 OPCs, 7 T-AGOS, 3 EMS, and 12 LCUs for US clients.

• $20 billion of work anticipated over the next 20 years, including new vessel types.

Market outlook and growth drivers

• Global naval market expected to grow from €78B in 2024 to over €100B by 2033, led by Asia-Pacific.

• Defence spending rising, with NATO and Asia-Pacific nations increasing budgets.

• Demand for offshore patrol vessels, frigates, and amphibious ships is increasing due to evolving mission needs.

• New technologies like modular design and digital asset monitoring are key to competitiveness.