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Transmittal Letter

ASC Pty Ltd ABN 64 008 605 034 GPO Box 2472, Adelaide South Australia 5001 ASC North 694 Mersey Road, Osborne South Australia 5017 T + 61 8 8348 7000 F + 61 8 8348 7001 ASC South 640 Mersey Road, Osborne South Australia 5017 T + 61 8 7423 4000 F + 61 8 7423 4090 www.asc.com.au 30 September 2019 Senator the Hon Mathias Cormann Minister for Finance Parliament House CANBERRA ACT 2600 Dear Minister, ASC Pty Ltd 2019 Annual Report I am pleased to submit the 2019 Annual Report of ASC Pty Ltd, which has been prepared in accordance with the Public Governance, Performance and Accountability Act 2013 (PGPA Act) and approved by ASC’s Board. The Annual Report includes the financial statements for the company for the year ended 30 June 2019 as well as reports on ASC’s performance and progress. Throughout this financial year the company continued its strong performance in the Collins Class Submarine (CCSM), Air Warfare Destroyer (AWD) and Offshore Patrol Vessel (OPV) programs. ASC also achieved a profit after tax of $30.3 million. During the year, ASC commenced two major CCSM dockings; a Full-Cycle Docking (FCD) in South Australia and a Mid-Cycle Docking (MCD) in Western Australia, while also delivering shorter maintenance activities in support of Australia’s operational submarines. ASC again exceeded the Royal Australian Navy (RAN) maintenance performance targets for the CCSM program across the 2018/19 period. ASC achieved significant milestones on its AWD and OPV shipbuilding programs during the 2018/19 financial year. Together with its Alliance partners, ASC saw the successful commissioning into service of its second destroyer HMAS Brisbane, with the RAN in October 2018. ASC also demonstrated strong performance on the Arafura Class OPV program over the financial period, celebrating Keel Laying of the lead vessel in May 2019, as well as the commencement of construction of the second vessel. ASC’s positive results and program performance is a testament to the continued strength of its workforce and their unwavering commitment to safety, quality and innovation in supporting ASC’s role as part of Australia’s national maritime and defence strategies. I would be grateful if you could endorse this document for tabling in Parliament. Yours sincerely, Bruce Carter Chairman
ASC Transmittal Letter 2019