In the current year, in spite of some topsy turvy moments because of trade tensions, some ASX 200 stocks have remained consistent. Performing well, these are
Austal Limited (ASX: ASB)
Austal Limited, a global shipbuilder and defense prime contractor, has reported a strong growth in its first-half earnings for FY2025. The company's revenue increased by 15.1% to $825.7M in H1 FY2025 up from $717.7M in H1 FY2024 driven by significant contributions from US shipbuilding. Earnings Before Interest and Tax (EBIT) rose to $42.7M from $32.1M in the prior corresponding period with improved margins of 5.2%. Net Profit After Tax (NPAT) saw a substantial increase of 108.9% to $25.1M compared to $12.0M in H1 FY2024.
Austal's cash position significantly improved with total cash and cash equivalents reaching $353.9M (compared to $173.5M at June 2024) and a net cash position of $212.6M (up from $3.9M). The company boasts a record order book of $14.2B as of 31 December 2024 which includes contract options.
Austal reported delivery of six ships in H1 FY2025 with 51 ships currently under construction or scheduled. Austal USA launched the final Independence-variant Littoral Combat Ship (LCS 38) in August 2024. The company commenced construction of the first of eleven US Coast Guard Offshore Patrol Cutters and delivered the first of ten submarine command modules. Austal announced a $200M institutional placement. This funding aims to expand its Mobile, Alabama shipyard, which will allow for the construction and delivery of large steel vessels in the USA. This expansion will also support the US Navy's submarine industrial base.
Austal reconfirmed its EBIT guidance for FY2025 of not less than $80M. Austal operates five shipyards across four countries and eight service centers globally employing 4,324 people.
Capricorn Metals Limited (ASX: CMM)
Capricorn Metals Limited is a gold mining company with a focus on high-margin long mine life gold operations, primarily at its Karlawinda Gold Project (KGP) and Mt Gibson Gold Project (MGGP).
KGP produced 30,599 ounces of gold at an all-in-sustaining cost of $1,390 per ounce in the March 2025 quarter (Q3). Year-to-date gold production reached 84,860 ounces at an AISC of $1,501 per ounce aligning with FY25 mine plans. The company is on track to achieve its FY25 guidance of 110,000-120,000 ounces at an AISC of $1,370-$1,470 per ounce. Capricorn Metals generated a record quarterly cash flow from operations of $80.8M in Q3. Cash and gold on hand at the end of Q3 stood at $404.6M, reflecting a cash build of $57.6M. Gold sales of 28,340 ounces at an average price of $4,603 per ounce generated 130.4M in revenue. The company also completed the closure of remaining gold hedging contracts in March2025, gaining full exposure to any increase in the gold price.
Capricorn Metals continues to expand its project tenure and resource base. The company announced the acquisition of the prospective Ninghan Gold Project in April 2025 expanding its Mt Gibson project tenure by approximately 77 square kilometers. Exploration efforts at MGGP in Q3 2025 included 34,390 meters of drilling, yielding exceptional results with broad high-grade gold intercepts indicating potential for underground mining. Significant exploration results were also reported from the Highway project with intercepts like 28 meters at 8.68 grams per tonne. The MGGP Ore Reserve has grown to 2.59M ounces and the KGP ore reserve increased to 1.43M ounces. The Karlawinda Expansion Project (KEP) has also been board-approved. In addition to that, the company completed the installation of a 400-room accommodation village for the MGGP operation supporting its upcoming construction phase.
(Source: Company Announcements)
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