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Veem Ltd (ASX:VEE)

ALERT: Price-sensitive ASX Announcement for VEE
Current share price for VEE : $0.520 0.07 (15.56%)+
Announcement
Release
9 Jun 2026 8:28AM
Price at Release
$0.450
Full Release
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Summary
Veem Ltd's investor presentation highlights the company's strategic progress and financial outcomes for FY26. The company expects a revenue increase to $50m-$52m, driven by defense revenues, particularly fulfilling ASC orders. EBITDA is projected to be between $3.25m and $3.75m for FY26. The first half of FY26 saw a revenue of $23.4m, with a negative EBITDA of $0.2m. Despite challenges in propulsion sales, the VEEM Extreme product has shown promising returns, and the introduction of new technologies like the Mark III gyro is set to enhance future sales. The company's balance sheet was strengthened with a $13.1m capital raise, reducing net debt significantly. Investments in new manufacturing capabilities, including CNC machinery and a 3D printer, aim to boost productivity and expand market reach, particularly in defense and propulsion sectors.
Key Points
  • Veem's FY26 revenue expected to be $50m-$52m.
  • EBITDA for FY26 projected between $3.25m and $3.75m.
  • 1HFY26 revenue was $23.4m, with negative EBITDA of $0.2m.
  • Capital raise of $13.1m improved the balance sheet.
  • VEEM Extreme propellers showing promising returns.
  • New technologies like Mark III gyro expected to boost sales.
  • Defense revenues driven by ASC order fulfillment.
  • Investments in CNC machinery and 3D printing to boost productivity.
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.