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VEEM is a defensive stock with an innovative, market leading product line.

ASX Code:

VEE

We’re just getting started.

In 1968, VEEM entered the engineering market with one mission. To be the absolute best at everything we set our hand to. This secured us defence contracts, awards, global distribution contracts and innovative patents that enabled us to grow rapidly and consistency over 55 years. Now, with the World’s most powerful Gyrostabiliser range, we continue our mission in a unique 100 billion dollar boating market, striving for disruption off the foundations of a strong and diversified business base.

Our 2023 Results

Learn about our results for the FY ending 30 June 2023

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FY23 Revenue
$59.6m
Up 10%
EPS
3.03cps
Up 226%
EBITDA
$10.0m
Up 64%
Operating Cashflow
$6.1m
Up 143%

4 distinct business lines

VEEM Ltd is a unique Australian stock that combines world-class technology with a strong, stable product line. With a rich 56-year history of financial strength and performance, a dividend policy of paying 30% of NPAT and diversity in revenue (including defence, manufacturing, technology and products in various international markets), VEEM is a truly unique stock that is defensive and stable.

Gyrostabilizers

VEEM maintains the dominant position as the only major supplier in the large marine gyrostabiliser market supplying leaders like Damen ships.

Propulsion

VEEM manufactures the worlds leading fixed pitch propellers, supplying leading boat OEMs across the world like Princess Yachts.

Defence

EEM supports defence programs such as the Collins Class submarine program, Hunter Class Frigate Program (HCFP) and various work for Austal ships.

Engineering Products and Services

VEEM has a robust core foundry and engineering business with their own patented products.

"Great companies are built by great people, doing great things, for a great length of time."

Mark MiocevichVEEM Managing Director

Our Story

1968

VEEM Ltd began as a small engineering services company, specialising in the repair and dynamic balancing of drive shafts, engines and other rotating equipment.

1990

We built our strong partnership with Austal Ships and have been the supplier for hollow bronze castings for its aluminium ships since then.

2015

With an unwavering passion for beautiful design and engineering excellence, we launched our gyrostabilizers that dramatically reduced the rolling motion of vessels, increased at-sea time and improved personnel safety. The 6 model range represents the largest size of powerful, high quality marine gyrostabilizers in the world. 

1980

We won our first major defence contract for the manufacture of submarine valves for the new Australian Submarine Program under licence from Flowserve Defence UK.

2012

We commenced development of a range of powerful gyrostabilizers for super yachts, patrol boats and offshore working vessels.

2023

We are the leading manufacturer of disruptive high technology products for the marine, aerospace, defence, oil and gas industries, and operates from a 14,700 sqm purpose-built fabrication and manufacturing facility, including Australia’s largest non-ferrous foundry.

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Financial Reports

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News

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