Valuation Update With 7 Day Price Move • Jun 17
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €2.66, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 30x in the Aerospace & Defense industry in Germany. Total returns to shareholders of 83% over the past three years. Board Change • May 20
High number of new directors There are 5 new directors who have joined the board in the last 3 years. Non-Executive Independent Director Susan Murphy was the last director to join the board, commencing their role in 2025. The company’s lack of board continuity is considered a risk according to the Simply Wall St Risk Model. Aankondiging • Feb 25
Austal Limited Provides Earnings Guidance for the Fiscal Year 2026 Austal Limited provided earnings guidance for the fiscal year 2026. The company expects fiscal year 2026 EBIT to be around $110 million. Aankondiging • Feb 20
Austal Limited to Report First Half, 2026 Results on Feb 23, 2026 Austal Limited announced that they will report first half, 2026 results on Feb 23, 2026 Valuation Update With 7 Day Price Move • Jan 08
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to €4.58, the stock trades at a forward P/E ratio of 36x. Average forward P/E is 41x in the Aerospace & Defense industry in Germany. Total returns to shareholders of 278% over the past three years. Board Change • Dec 30
High number of new and inexperienced directors There are 6 new directors who have joined the board in the last 3 years. The company's board is composed of: 6 new directors. 1 experienced director. No highly experienced directors. Independent Non-Executive Director Lee Goddard is the most experienced director on the board, commencing their role in 2023. The following issues are considered to be risks according to the Simply Wall St Risk Model: Lack of board continuity. Lack of experienced directors. Aankondiging • Sep 27
Austal Limited, Annual General Meeting, Oct 28, 2025 Austal Limited, Annual General Meeting, Oct 28, 2025. Location: fremantle sailing club, 151 marine terrace, fremantle western australia, Australia Aankondiging • Sep 01
Austal Limited Announces Retirement of John Rothwell as A Non-Executive Director , Effective on September 1, 2025 Austal Limited advised that its inaugural chairman and founder, John Rothwell, is retiring from his position as a non-executive director of Austal on September 1, 2025, ending his 38- year tenure at the company he founded and flourished. Richard Spencer was appointed to Chairman as Austal in mid-2024. Mr. Rothwell and Austal have agreed that he will remain available to the Company and Board on a consultancy basis. Aankondiging • Aug 26
Austal Limited to Report Fiscal Year 2025 Results on Aug 29, 2025 Austal Limited announced that they will report fiscal year 2025 results Pre-Market on Aug 29, 2025 Aankondiging • Aug 21
Austal Limited Announces the Appointment of Susan Murphy Ao as Non-Executive Director, Nomination & Remuneration Committee and Audit & Risk Committee, on 1 September 2025 Austal Limited (Austal) announced the appointment of an experienced company director with important engineering and contracting expertise to its board. Susan Murphy AO will commence as a Non-Executive Director of Austal on 1 September 2025. She will also join both the Board's Nomination & Remuneration Committee and Audit & Risk Committee. Ms Murphy possesses extensive executive leadership experience in engineering, infrastructure and corporate governance from her 40-year career, with expertise in delivering major projects, organisational transformation and stakeholder management. She served as the CEO of the Water Corporation of Western Australia for ten years until 2018. Prior to that, she spent 25 years at Clough Engineering, progressing through various operational and leadership roles before being appointed to the Board in 1998, becoming the company's first female director. Ms Murphy currently serves as a Non-Executive Director at Monadelphous Group and is an Advisory Board member at Cape Dunstans Construction. She completed her term as Pro Chancellor at the University of Western Australia in August 2025 and remains a Director on the UWA Business School Board. Ms Murphy was recognised as an Officer of the Order of Australia in 2019 and received the prestigious Sir John Holland Civil Engineer of the Year Award in 2013. In each year from 2009 to 2016, she was listed in the top 100 most influential engineers in Australia by Engineers Australia. Ms Murphy holds a Bachelor of Engineering (Honours) from the University of Western Australia and is a Fellow of Engineers Australia and the Australian Academy of Technological Sciences and Engineering. She is also a member of the Australian Institute of Company Directors and Chief Executive Women. Aankondiging • Mar 13
Austal Limited has filed a Follow-on Equity Offering in the amount of AUD 200 million. Austal Limited has filed a Follow-on Equity Offering in the amount of AUD 200 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 52,631,579
Price\Range: AUD 3.8
Discount Per Security: AUD 0.133
Transaction Features: Subsequent Direct Listing Aankondiging • Mar 12
Austal Limited has completed a Follow-on Equity Offering in the amount of AUD 200 million. Austal Limited has completed a Follow-on Equity Offering in the amount of AUD 200 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 52,631,579
Price\Range: AUD 3.8
Discount Per Security: AUD 0.133
Transaction Features: Subsequent Direct Listing Aankondiging • Mar 11
Austal Limited has filed a Follow-on Equity Offering in the amount of AUD 19.999997 million. Austal Limited has filed a Follow-on Equity Offering in the amount of AUD 19.999997 million.
Security Name: Ordinary Shares
Security Type: Common Stock
Securities Offered: 5,263,157
Price\Range: AUD 3.8 Aankondiging • Feb 20
Austal Limited to Report First Half, 2025 Results on Feb 21, 2025 Austal Limited announced that they will report first half, 2025 results on Feb 21, 2025 Aankondiging • Sep 30
Austal Limited, Annual General Meeting, Nov 01, 2024 Austal Limited, Annual General Meeting, Nov 01, 2024. Location: fremantle sailing club, 151 marine terrace, fremantle, western australia, Australia Valuation Update With 7 Day Price Move • Sep 17
Investor sentiment improves as stock rises 27% After last week's 27% share price gain to €1.55, the stock trades at a forward P/E ratio of 22x. Average forward P/E is 21x in the Aerospace & Defense industry in Germany. Total returns to shareholders of 65% over the past three years. New Risk • Sep 01
New minor risk - Earnings quality The company has large one-off items impacting its financial results. One-off items were 431% of the size of the rest of the company's trailing 12-month earnings before tax. This is considered a minor risk. One-off items are incomes or expenses that the company does not expect to repeat in future periods. Examples include profits from the sale of a business or expenses from a restructuring or legal settlements. If the company's reported statutory earnings include a large proportion of one-off items it means they may be an unreliable indicator of its true business performance as the earnings were skewed by these incomes or expenses. Currently, the following risks have been identified for the company: Minor Risks Share price has been volatile over the past 3 months (7.7% average weekly change). Large one-off items impacting financial results. Reported Earnings • Aug 30
Full year 2024 earnings released: EPS: AU$0.041 (vs AU$0.038 loss in FY 2023) Full year 2024 results: EPS: AU$0.041 (up from AU$0.038 loss in FY 2023). Revenue: AU$1.47b (down 7.3% from FY 2023). Net income: AU$14.9m (up AU$28.7m from FY 2023). Profit margin: 1.0% (up from net loss in FY 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 12% p.a. on average during the next 3 years, compared to a 17% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 84 percentage points per year, which is a significant difference in performance. Aankondiging • Aug 28
Austal Limited to Report Fiscal Year 2024 Results on Aug 30, 2024 Austal Limited announced that they will report fiscal year 2024 results Pre-Market on Aug 30, 2024 Aankondiging • Apr 03
Hanwha Corporation (KOSE:A000880) made a proposal to acquire Austal Limited (ASX:ASB) for AUD 1 billion Hanwha Corporation (KOSE:A000880) made a proposal to acquire Austal Limited (ASX:ASB) for AUD 1 billion on April 1, 2024. Hanwha’s Indicative Proposal is subject to numerous conditions, including due diligence, various regulatory approvals including Australia’s Foreign Investment Review Board (FIRB), the Committee on Foreign investment in the United States (CFIUS) and the US Defense Counterintelligence and Security Agency, final approval of the Hanwha Board, the unanimous recommendation of the Austal Board and Austal shareholder approval. Aankondiging • Apr 02
Hanwha's Bid for Austal Rejected by Target's Board South Korean conglomerate Hanwha Corporation (KOSE:A000880) is believed to have recently renewed its interest in takeover target Austal Limited (ASX:ASB), putting forward an indicative offer for the global shipbuilder and Defence prime contractor in recent weeks, likely to be more than $895 million. It is understood that the offer was at a premium of about 30% to Austal's share price at the time, and Hanwha was working with investment bank UBS as its adviser. However, the deal was not disclosed by the Austal board because of the high probability that the government would not grant permission for the business to take control of a group carrying out Defence contract work for the government. Austal signed an initial agreement with the government in November to establish a Strategic Shipbuilding Agreement between it and the commonwealth in which the company becomes Australia's naval ship builder in Western Australia. If a binding deal is signed, Austal will construct and deliver eighteen 50m steel-hulled landing craft vessels to the Army, to be constructed at Henderson, south of Perth, plus other large landing craft. While Hanwha is considered out of the question as an owner of Austal, with the Foreign Investment Review Board likely to block an acquisition based on security concerns, a US-based group may be more palatable, given Australia's relationship through AUKUS, a trilateral security partnership for the Indo-Pacific region between Australia, Britain and the US. Among the private equity firms that have taken a look at the business in the past are US-based private equity firm Cerberus Capital Management and Arlington Capital Partners. The US business is far larger and over time has been considered more attractive to suitors. But it has strict security restrictions, including a rule that no one from the parent company can attend sites without permission from the Pentagon. One possibility is that Austal demerges the US arm, sells it to private equity or relists its business in the US. Aankondiging • Mar 28
Austal Limited Announces Resignation of Michael McCormack as Non-Executive Director, Effective 31 March 2024 Austal Limited (Austal) advised that Non-Executive Director Michael McCormack has tendered his resignation from the board of Austal. Mr. McCormack has served on the Austal board since 2020 and recently joined the board of Whitehaven Coal Limited, in addition to his other board positions at Central Petroleum and Origin Energy, and the Australian Brandenburg Orchestra Foundation and the Clontarf Foundation. Mr. McCormack will conclude his appointment on 31 March 2024. Reported Earnings • Feb 27
First half 2024 earnings released: EPS: AU$0.033 (vs AU$0.02 loss in 1H 2023) First half 2024 results: EPS: AU$0.033 (up from AU$0.02 loss in 1H 2023). Revenue: AU$717.7m (down 7.4% from 1H 2023). Net income: AU$12.0m (up AU$19.3m from 1H 2023). Profit margin: 1.7% (up from net loss in 1H 2023). The move to profitability was driven by lower expenses. Revenue is forecast to grow 15% p.a. on average during the next 3 years, compared to a 15% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, the company's share price growth rate has exceeded its earnings growth rate by 62 percentage points per year, which is a significant difference in performance. Aankondiging • Feb 19
Austal Limited to Report First Half, 2024 Results on Feb 23, 2024 Austal Limited announced that they will report first half, 2024 results on Feb 23, 2024 Aankondiging • Sep 26
Austal Limited, Annual General Meeting, Oct 26, 2023 Austal Limited, Annual General Meeting, Oct 26, 2023, at 14:00 W. Australia Standard Time. Agenda: To consider directors' Report and financial statements; to consider non-binding resolution to adopt Remuneration Report; to consider re-election of Mr. John Rothwell AO; to consider re-election of Mr. Michael McCormack; to consider election of Mr. Lee Goddard; to consider approval of the issue of Share Rights to Ms. Sarah Adam-Gedge; to consider approval of the issue of Share Rights to Mr. Chris Indermaur; to consider approval of the issue of Share Rights to Mr. Lee Goddard; and to consider approval of the issue of LTI Rights to Mr. Patrick Gregg. Upcoming Dividend • Sep 07
Upcoming dividend of AU$0.03 per share at 3.1% yield Eligible shareholders must have bought the stock before 14 September 2023. Payment date: 20 October 2023. The company is not currently making a profit and is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.8%). Higher than average of industry peers (1.5%). Reported Earnings • Aug 31
Full year 2023 earnings released: AU$0.038 loss per share (vs AU$0.22 profit in FY 2022) Full year 2023 results: AU$0.038 loss per share (down from AU$0.22 profit in FY 2022). Revenue: AU$1.59b (up 11% from FY 2022). Net loss: AU$13.8m (down 117% from profit in FY 2022). Revenue is forecast to grow 5.9% p.a. on average during the next 3 years, compared to a 12% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has fallen by 49% per year but the company’s share price has only fallen by 19% per year, which means it has not declined as severely as earnings. Aankondiging • Aug 30
Austal Limited to Report Fiscal Year 2023 Results on Aug 31, 2023 Austal Limited announced that they will report fiscal year 2023 results Pre-Market on Aug 31, 2023 Valuation Update With 7 Day Price Move • Jul 26
Investor sentiment deteriorates as stock falls 16% After last week's 16% share price decline to €1.35, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 19x in the Aerospace & Defense industry in Germany. Total loss to shareholders of 26% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €0.85 per share. Aankondiging • Jul 26
Austal Limited Revises Earnings Guidance for the Fiscal Year 2023 Austal Limited revised earnings guidance for the fiscal year 2023. Based on the outcomes of that review, EBIT guidance for fiscal year 2023 is reduced from earnings of approximately AUD 58 million to an expected range between zero profit to a potential loss of AUD 10 million. Valuation Update With 7 Day Price Move • Jul 06
Investor sentiment improves as stock rises 19% After last week's 19% share price gain to €1.65, the stock trades at a forward P/E ratio of 19x. Average forward P/E is 19x in the Aerospace & Defense industry in Germany. Total loss to shareholders of 2.3% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €0.89 per share. Valuation Update With 7 Day Price Move • Jun 05
Investor sentiment improves as stock rises 25% After last week's 25% share price gain to €1.42, the stock trades at a forward P/E ratio of 17x. Average forward P/E is 19x in the Aerospace & Defense industry in Germany. Total loss to shareholders of 23% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €0.93 per share. Valuation Update With 7 Day Price Move • May 19
Investor sentiment improves as stock rises 26% After last week's 26% share price gain to €1.27, the stock trades at a forward P/E ratio of 15x. Average forward P/E is 20x in the Aerospace & Defense industry in Germany. Total loss to shareholders of 13% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €0.91 per share. Upcoming Dividend • Mar 08
Upcoming dividend of AU$0.04 per share at 4.3% yield Eligible shareholders must have bought the stock before 15 March 2023. Payment date: 20 April 2023. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 4.3%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.3%). Valuation Update With 7 Day Price Move • Feb 21
Investor sentiment improves as stock rises 16% After last week's 16% share price gain to €1.32, the stock trades at a forward P/E ratio of 11x. Average forward P/E is 23x in the Aerospace & Defense industry in Germany. Total loss to shareholders of 37% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.04 per share. Upcoming Dividend • Aug 31
Upcoming dividend of AU$0.04 per share Eligible shareholders must have bought the stock before 07 September 2022. Payment date: 13 October 2022. Payout ratio is a comfortable 36% but the company is not cash flow positive. Trailing yield: 3.1%. Lower than top quartile of German dividend payers (4.7%). Higher than average of industry peers (1.5%). Reported Earnings • Aug 26
Full year 2022 earnings released: EPS: AU$0.22 (vs AU$0.23 in FY 2021) Full year 2022 results: EPS: AU$0.22 (down from AU$0.23 in FY 2021). Revenue: AU$1.43b (down 9.1% from FY 2021). Net income: AU$79.6m (down 1.8% from FY 2021). Profit margin: 5.6% (up from 5.2% in FY 2021). The increase in margin was driven by lower expenses. Over the next year, revenue is forecast to grow 6.3%, compared to a 25% growth forecast for the Aerospace & Defense industry in Germany. Over the last 3 years on average, earnings per share has increased by 1% per year but the company’s share price has fallen by 10% per year, which means it is significantly lagging earnings. Valuation Update With 7 Day Price Move • Jul 02
Investor sentiment improved over the past week After last week's 20% share price gain to €1.43, the stock trades at a forward P/E ratio of 12x. Average forward P/E is 23x in the Aerospace & Defense industry in Germany. Total loss to shareholders of 27% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.01 per share. Upcoming Dividend • Mar 09
Upcoming dividend of AU$0.04 per share Eligible shareholders must have bought the stock before 16 March 2022. Payment date: 21 April 2022. Payout ratio is a comfortable 39% but the company is not cash flow positive. Trailing yield: 4.2%. Within top quartile of German dividend payers (3.6%). Higher than average of industry peers (1.2%). Reported Earnings • Feb 27
First half 2022 earnings: EPS in line with analyst expectations despite revenue beat First half 2022 results: EPS: AU$0.13 (down from AU$0.15 in 1H 2021). Revenue: AU$722.4m (down 14% from 1H 2021). Net income: AU$45.1m (down 14% from 1H 2021). Profit margin: 6.2% (in line with 1H 2021). Revenue exceeded analyst estimates by 1.2%. Over the next year, revenue is forecast to stay flat compared to a 18% growth forecast for the industry in Germany. Over the last 3 years on average, earnings per share has increased by 15% per year but the company’s share price has fallen by 4% per year, which means it is significantly lagging earnings. Upcoming Dividend • Sep 01
Upcoming dividend of AU$0.04 per share Eligible shareholders must have bought the stock before 08 September 2021. Payment date: 21 October 2021. Trailing yield: 4.1%. Within top quartile of German dividend payers (3.1%). Higher than average of industry peers (1.6%). Valuation Update With 7 Day Price Move • Aug 30
Investor sentiment deteriorated over the past week After last week's 19% share price decline to €1.21, the stock trades at a forward P/E ratio of 10x. Average forward P/E is 21x in the Aerospace & Defense industry in Europe. Total returns to shareholders of 11% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at €1.69 per share. Reported Earnings • Aug 25
Full year 2021 earnings released: EPS AU$0.23 (vs AU$0.25 in FY 2020) The company reported a soft full year result with weaker earnings and revenues, although profit margins were improved. Full year 2021 results: Revenue: AU$1.57b (down 25% from FY 2020). Net income: AU$81.1m (down 8.9% from FY 2020). Profit margin: 5.2% (up from 4.3% in FY 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 30% per year but the company’s share price has only increased by 6% per year, which means it is significantly lagging earnings growth. Upcoming Dividend • Mar 10
Upcoming Dividend of AU$0.04 Per Share Will be paid on the 22nd of April to those who are registered shareholders by the 17th of March. The trailing yield of 4.0% is in the top quartile of German dividend payers (3.3%), and it is higher than industry peers (1.6%). Reported Earnings • Feb 28
First half 2021 earnings released: EPS AU$0.15 (vs AU$0.12 in 1H 2020) The company reported a decent first half result with improved earnings and profit margins, although revenues were weaker. First half 2021 results: Revenue: AU$840.3m (down 19% from 1H 2020). Net income: AU$52.4m (up 29% from 1H 2020). Profit margin: 6.2% (up from 3.9% in 1H 2020). The increase in margin was driven by lower expenses. Over the last 3 years on average, earnings per share has increased by 41% per year but the company’s share price has only increased by 10% per year, which means it is significantly lagging earnings growth. Analyst Estimate Surprise Post Earnings • Feb 28
Revenue misses expectations Revenue missed analyst estimates by 14%. Over the next year, revenue is expected to shrink by 7.3% compared to a 19% growth forecast for the Aerospace & Defense industry in Germany. Is New 90 Day High Low • Feb 05
New 90-day low: €1.54 The company is down 8.0% from its price of €1.67 on 06 November 2020. The German market is up 14% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Aerospace & Defense industry, which is up 21% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.66 per share. Is New 90 Day High Low • Jan 12
New 90-day low: €1.57 The company is down 22% from its price of €2.02 on 14 October 2020. The German market is up 8.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Aerospace & Defense industry, which is up 33% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €4.18 per share. Is New 90 Day High Low • Oct 26
New 90-day low: €1.74 The company is down 13% from its price of €1.99 on 28 July 2020. The German market is down 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Aerospace & Defense industry, which is up 3.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.73 per share. Is New 90 Day High Low • Oct 02
New 90-day low: €1.86 The company is down 8.0% from its price of €2.02 on 03 July 2020. The German market is up 1.0% over the last 90 days, indicating the company underperformed over that time. It also underperformed the Aerospace & Defense industry, which is down 6.0% over the same period. According to the Simply Wall St valuation model, the estimated intrinsic value of the company is €3.83 per share. 
