Austin Engineering Ltd
ASX:ANG
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Austin Engineering Ltd
Austin Engineering Ltd. engages in the design and manufacture of customized dump truck bodies, buckets, and ancillary products used in the mining industry. The company is headquartered in Brisbane, Queensland and currently employs 1,104 full-time employees. The company went IPO on 2004-03-09. The firm designs and manufactures customized dump truck bodies, buckets, water tanks, tire handlers and other ancillary products utilized in the mining industry. The company also offers on and off-site repair and maintenance, as well as heavy equipment lifting to its clients. The firm operates through three segments: Asia-Pacific, North America and South America. Asia-Pacific segment offers mining equipment, other products, repair and maintenance services, and corporate activities in Australia and Indonesia. North America segment offers mining equipment and other products in the United States. South America segment offers mining equipment, other products, and repair and maintenance services in Colombia, Chile and Peru.
Austin Engineering Ltd. engages in the design and manufacture of customized dump truck bodies, buckets, and ancillary products used in the mining industry. The company is headquartered in Brisbane, Queensland and currently employs 1,104 full-time employees. The company went IPO on 2004-03-09. The firm designs and manufactures customized dump truck bodies, buckets, water tanks, tire handlers and other ancillary products utilized in the mining industry. The company also offers on and off-site repair and maintenance, as well as heavy equipment lifting to its clients. The firm operates through three segments: Asia-Pacific, North America and South America. Asia-Pacific segment offers mining equipment, other products, repair and maintenance services, and corporate activities in Australia and Indonesia. North America segment offers mining equipment and other products in the United States. South America segment offers mining equipment, other products, and repair and maintenance services in Colombia, Chile and Peru.
Revenue: Total underlying revenue was $87.9 million, broadly in line with the prior half.
Profit Guidance: Management reiterated full-year guidance for underlying net profit after tax in excess of $9 million, with 90% of required revenue already secured.
Regional Performance: Asia Pacific performed strongly, particularly in Perth and Indonesia, while North America revenues fell 58% but are showing signs of recovery.
Cash Flow: Operating cash flow was negative for the first half, mainly due to lower earnings and working capital movements.
Restructuring: The company has completed its restructuring, including winding down operations in Colombia and reducing the size of operations in Peru.
Order Book: 90% of revenue needed to meet guidance is already locked in, with facilities having surplus capacity for additional orders.
Dividend: Declared a fully franked interim dividend of $0.002 per share.
