Austal's value is now mainly US naval shipbuilding, through the facility at Mobile, Alabama.
That facility is undergoing a $100M USD expansion that will allow for steel shipbuilding as well as increasing capacity - Austal contends around $2 billion / yr which would be around 50% growth. Half the funds have been provided by the US, as they are looking to increase the overall capacity of their shipbuilding industry, with the facility currently providing 4-5000 jobs and of vital economic importance to the local region.
Current major shipbuilding contracts go out to 2024, with the expansion expected to be completed in 2022, and the Navy to put out its FY2022 budget later this year. So the main thing to watch this year is whether Austal can get new work to utilise their new facilities immediately from 2022, and how they will move forward once the Littoral Combat Ships are complete.
Dividend, page-11
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