Become part of the story
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 1HFY24 Results
Learn about our results for the half-year to 31 December 2023 compared with 1HFY23.
HY24 Revenue
$37.5m
Up 37%
EPS
2.58cps
Up 92%
EBITDA
$6.9m
Up 65%
Operating Cashflow
$4.4m
Up 203%
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.
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.
