Austal addresses media speculation of corporate buy-out

“While discussions may take place from time to time, there can be no certainty that any opportunity will proceed.

“Austal will keep shareholders informed in accordance with its continuous disclosure obligations.”

Austal released its FY2023 H1 results in February this year with an increased revenue of $775.0 million supported by strong growth in the sustainment business.

It had a net loss after tax of $7.3 million and a net cash position of $58.1 million.

In addition, the United States Department of Justice has indicted three former Austal USA employees for allegedly making or causing false and misleading statements about Austal USA’s performance and financial condition between 2012 and 2016.

The US Securities and Exchange Commission also announced that it has filed civil charges against the same three individuals regarding actions taken between 2013 and 2016.

Robert Dougherty

Robert is a senior journalist who has previously worked for Seven West Media in Western Australia, as well as Fairfax Media and Australian Community Media in New South Wales. He has produced national headlines, photography and videography of emergency services, business, community, defence and government news across Australia. Robert graduated with a Bachelor of Arts, Majoring in Public Relations and Journalism at Curtin University, attended student exchange program with Fudan University and holds Tier 1 General Advice certification for Kaplan Professional. Reach out via email at This email address is being protected from spambots. You need JavaScript enabled to view it. or via LinkedIn.