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Veem Ltd (ASX:VEE)

ALERT: Price-sensitive ASX Announcement for VEE
Current share price for VEE : $0.550 -0.605 (-52.38%)+
Announcement
Release
27 Nov 2025 5:43PM
Price at Release
$1.155
Full Release
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Summary
VEEM Ltd's AGM presentation highlighted a year of consolidation with a strong second half in FY25, despite overall revenue being down 15% from FY24. The company reported significant developments in its defence segment, signing a major contract with ASC and advancing in projects with BAE Systems and Northrop Grumman. Propulsion revenue remained steady, and VEEM introduced the VEEM Extreme propulsion system, showcasing notable efficiency improvements. The company anticipates stronger performance in the second half of FY26, bolstered by new defence contracts and product launches.
Key Points
  • VEEM's FY25 saw a strong second half with increased revenue and profitability.
  • Revenue for FY25 was AUD 68.6 million, down 15% from FY24.
  • EBITDA for FY25 was AUD 9.2 million, a 38% decrease from FY24.
  • Net Profit After Tax (NPAT) for FY25 was AUD 3.0 million, down 57% from FY24.
  • Defence revenue for FY25 was AUD 15.6 million, with a significant decline in ASC revenue.
  • VEEM signed a 6-year contract worth AUD 65 million with ASC.
  • VEEM is developing blades for BAE Systems Australia's Hunter Class Frigate Program.
  • VEEM signed a 9-year agreement with Northrop Grumman valued up to USD 33 million.
  • Propulsion revenue for FY25 was AUD 35.0 million, slightly down from FY24.
  • The company launched the VEEM Extreme propulsion system with significant efficiency gains.
IMPORTANT NOTE: This information is autogenerated and has not been reviewed for accuracy or completeness. You should refer to the full announcement here for further information.