The big question is the NPAT generated from these contracts. If margins are only 5-6% then a $30 mill in one off contracts is not that great. If we see a steady flow of contracts from Korean ferry operators or the Chinese JV wins a heap of business then we will have a re-rating.
The more I read about the LCS the more I think we will lose out to Lockheed when single selection occurs. Also sounds like the Govt is intent on not building any more EPF's after the initial 10.
It will need a bit of luck for Austal to still be building ships in the US after 2020 and if they are not then that leaves a $1 bill revenue hole.
The big question is the NPAT generated from these contracts. If...
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