VEEM Full Year 2024 Earnings: Beats Expectations

VEEM (ASX:VEE) Full Year 2024 Results

Key Financial Results

• Revenue: AU$80.6m (up 35% from FY 2023).
• Net income: AU$7.00m (up 70% from FY 2023).
• Profit margin: 8.7% (up from 6.9% in FY 2023). The increase in margin was driven by higher revenue.
• EPS: AU$0.052 (up from AU$0.03 in FY 2023).

All figures shown in the chart above are for the trailing 12 month (TTM) period

VEEM Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 7.3%. Earnings per share (EPS) also surpassed analyst estimates by 7.1%.

Looking ahead, revenue is forecast to grow 10% p.a. on average during the next 2 years, while revenues in the Machinery industry in Australia are expected to remain flat.

Performance of the Australian Machinery industry.

The company's shares are down 2.7% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on VEEM's balance sheet health.

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