AUSTAL LIMITED — Earnings Release 2017

Aug 27, 2017

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Austal Limited

Appendix 4E for the year ended 30 June 2017

1. The reporting period is from 1 July 2016 to 30 June 2017. The previous corresponding period is 1 July 2015 to 30 June 2016.

2.	Results for announcement to the market.			$'000
	2.1 Revenue from ordinary activities		down 2.2% to	1,310,128 $
	2.2 Profit (loss) from ordinary activities after tax attributable to members		up 118% to	15,350
	2.3 Net profit (loss) for the period attributable to members		up 118% to	15,350
	2.4 Dividend distributions
	The Directors declared a fully franked interim dividend of 2 cent per share for the 6 months up to 30 December		2016	6,982
	The Directors also declared a fully franked final dividend of 2 cents per share for the full year to 30 June 2017			6,989
	2.5 Record date for determining entitlements to the dividends			13 September 2017
	2.6 Explanation of figures in 2.1 to 2.4 that may be required	Refer to Review	of Operations within the Annual Report
3.	Statement of comprehensive income with notes			Refer to Annual Report
4.	Statement of financial position with notes			Refer to Annual Report
5.	Statement of cash flows and notes			Refer to Annual Report
6.	Statement of changes in equity			Refer to Annual Report

1. Refer to 2.4

2. Dividend Reinvestment Plan

The Company operates a Dividend Reinvestment Plan (DRP) which allows eligible shareholders to elect to invest dividends in ordinary shares which rank equally with Austal ordinary shares. The allocation price for shares under the DRP will be calculated as the average of the daily volume weighted average price of Austal ordinary shares on each of the 5 consecutive trading days from and including the second trading day after the record date of Wednesday 13 September 2017 for participation in the DRP, being Friday 15 September to Thursday 21 September 2017. The last date for receipt of applications to participate in or to cease or vary participation in the DRP is by 5.00pm (WST) on Thursday 14 September 2017. The Directors have determined that no discount shall apply to the allocation price and the DRP will not be underwritten. Shares to be allocated under the DRP will be transferred to participants on Friday 20 October 2017. 9. Net tangible assets per ordinary security 9.1 Current period ($ / share) $ 1.30 9.2 Previous corresponding period ($ / share) $ 1.30 10. Control gained or lost over entities during the period N/A

1. Details of associates and joint venture entities The investment in Aulong joint venture represents the Group's 40% interest in the Chinese joint venture, Aulong Shipbuilding Co Ltd with Jianglong Shipbuilding Company. The aim of the joint venture is to pursue commercial passenger and non-military vessel opportunites in the mainland China

2. Other significant information Refer to Annual Report

3. Accounting standards used by foreign entities The financial statements of subsidiaries are prepared using consistent accounting policies for the same reporting period as the parent company. The foreign entities including Austal USA prepare their accounts under accounting standards that are equivalent to International Financial Reporting Standards.

	Reporting Standards.
14.	Commentary on the result
	14.1 Earnings per share
	Current period – basic	$	0.044
	Previous corresponding period – basic		(0.242)
	Current period – diluted		0.044
	Previous corresponding period – diluted		(0.242)
	14.2 Returns to shareholders including distributions and buy backs
	Refer to 2.4
	14.3 Significant features of operating performance	Refer	to Annual Report
	14.4 Segment results	Refer	to Annual Report
	14.5 Trends in performance	Refer	to Annual Report
	14.6 Other factors affecting the results in period or future	Refer	to Annual Report
15.	Audit / review of accounts upon which this is based		Audited accounts
16.	Accounts not audited or subject to review		N/A
17.	Qualifications of audit/review		No qualifications