Why Invest
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.
WA’s strongest and most diverse Engineering Manufacturing Company
Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts. Far far away, behind the word mountains, far from the countries Vokalia and Consonantia, there live the blind texts.
Rich 55-year history pf financial strength and performance
Dividend policy of paying 30% of NPAT
Diversity in revenue including defence, manufacturing, technology and products in various international markets
Unique stock that is defensive and stable
4 distinct business lines
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.
Our 2023 Half Year Results
Learn about our results for the half-year ended 31 December 2022.
1H23 Revenue
$27.4m
Up 4% from first half last year
Interim Dividend Issued
0.4c
Maintaining dividend policy of paying 30% of NPAT
Defence Sales Up
+18%
from first half last year
Propulsion Sales Up
+19%
from first half last year
”A wonderful serenity has taken possession of my entire soul, like these sweet mornings of spring.
Mr. ThemeNectarPro Acrobat
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.
