Austal releases FY2021 earnings guidance

Austal has continued to perform well into FY2021, with an FY2021 EBIT of $125 million forecast. This is marginally lower than Austal’s record FY2020 EBIT of $130 million, with increased margin in the company’s USA operations and a significant improvement in margin in its Australasian operations offsetting a decline in revenue.

Forecast FY2021 Group revenue of approximately $1.8 billion is lower than Austal’s FY2020 revenue, due in part to reduced throughput compared to FY2020 and in part to the appreciation of the Australian dollar against the US dollar. The split between those two items is approximately 60:40. Austal will keep shareholders abreast of any material impacts to the business and will provide a market update at its H1 FY2021 results in February 2021. This announcement has been approved for release by David Singleton, the Company’s Chief Executive Officer.

okt 28 2020