Moving higher to 2.50, page-31

Lot's of negative rambles. Let's look at some facts:
1. Profit margins improved in FY21 vs FY20 on lower revenue. Which means in future when large contracts are received we will be in a better position to recognise more profit.
2. Steel yard will be ready within FY22
3. China shipyard JV will be sold off in FY22
4. Major US navy projects tender to be finalised in FY22 and FY23. Austal has already won some of the new ship building designs.
5. $2.5B order book remains.
6. Vaccinations are happening worldwide which means ferry builds will begin again. Note Electric ferry design is ready to go.
7. Do you really think Alabama shipyard in the US will allow unemployment to materially to rise whilst the threat of China is ongoing, the embarrasment from Afghanistan withdrawal is fresh in mind. The Navy is going to demand more investment to combat the threat of China.
8. Similarly in Australia to point 7.
9. The prior year investigations of creative accounting is not even spoken of eventhough ASIC is ongoing but won't be a material outcome.
10. San Diego dry dock will add more capability and this can be built in other jurisdictions once we demonstrate capability.
11. Not to mention the strong financial position to take advantage of opportunities.

We are actually closer to receiving big orders in FY22 and meanwhile we have enough of a order book.