ASB -2.26%: the shipbuilder announced a good set of numbers for their FY22 result today, though it failed to ignite the stock. EBITDA was in line with pre-guided numbers at $120.7m, up 5.3% on the back of the recently awarded OPC contract that could be worth up to $3.3b in revenue. It’s positive to see the new steel shipbuilding facility being put to work and generating new business with the company noting a larger pipeline of long-term contracts they are now available to submit tenders for. The order book grew to $3b, up from $2.5b and they guided to $100m EBIT for FY23, around 10% ahead of the market, though consensus had largely remained unchanged since the announcement of recent contract wins.
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Buy Hold Sell: The best and worst performers of FY25
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MM remains bullish and long ASB in the Emerging Companies Portfolio
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