Buy Or Sell Opportunity • Jun 05
Now 20% undervalued after recent price drop Over the last 90 days, the stock has fallen 28% to AU$0.45. The fair value is estimated to be AU$0.56, however this is not to be taken as a buy recommendation but rather should be used as a guide only. Revenue has grown by 4.1% over the last 3 years. Meanwhile, the company became loss making. Revenue is forecast to grow by 1.3% in a year. Earnings are forecast to grow by 47% in the next year. Announcement • Feb 02
VEEM Ltd to Report First Half, 2026 Results on Feb 25, 2026 VEEM Ltd announced that they will report first half, 2026 results on Feb 25, 2026 Announcement • Oct 08
VEEM Ltd, Annual General Meeting, Nov 27, 2025 VEEM Ltd, Annual General Meeting, Nov 27, 2025. Reported Earnings • Aug 22
Full year 2025 earnings released: EPS: AU$0.022 (vs AU$0.051 in FY 2024) Full year 2025 results: EPS: AU$0.022 (down from AU$0.051 in FY 2024). Revenue: AU$68.7m (down 15% from FY 2024). Net income: AU$3.02m (down 57% from FY 2024). Profit margin: 4.4% (down from 8.7% in FY 2024). The decrease in margin was driven by lower revenue. Revenue is forecast to grow 16% p.a. on average during the next 3 years, compared to a 13% decline forecast for the Machinery industry in Australia. Over the last 3 years on average, earnings per share has increased by 21% per year but the company’s share price has increased by 28% per year, which means it is tracking significantly ahead of earnings growth. Valuation Update With 7 Day Price Move • Aug 18
Investor sentiment improves as stock rises 35% After last week's 35% share price gain to AU$1.34, the stock trades at a forward P/E ratio of 41x. Average forward P/E is 13x in the Machinery industry in Australia. Total returns to shareholders of 149% over the past three years. Announcement • Aug 08
VEEM Ltd to Report Fiscal Year 2025 Results on Aug 21, 2025 VEEM Ltd announced that they will report fiscal year 2025 results on Aug 21, 2025 Announcement • Jun 30
VEEM Ltd Announces Resignation of David Rich as Joint Company Secretary, Effective 30 June 2025 VEEM Limited announced that Mr. David Rich has resigned as Joint Company Secretary effective from 30 June 2025. Mr. Tino Kapfumo continues to act as Company Secretary and for the purposes of ASX Listing Rule 12.6, remains the primary person responsible for communication between the Company and the ASX. Announcement • May 27
Veem Receives $2 Million in Defense Grants VEEM Ltd. announce that it has been awarded two grants totalling $2 million under the Federal Government's Defence Industry Development Grants Program - Sovereign Industry Priorities Stream. The Defence Industry Development Grants Program - Sovereign Industry Priorities Stream funding of $2 million will be used as follows: $1 million to purchase and install a 3D sand printer capable of printing moulds required for the casting of propellers, valves and other critical components for Nuclear-Powered Submarines (NPS), Unmanned Underwater Vehicles and other Naval vessels. The total project is estimated to cost just over $2 million. $1 million to purchase and install a multi-axis CNC machine capable of machining valves, propellers and other critical components required for the same vehicles. The total project is estimated to cost just over $2 million. Announcement • Feb 14
VEEM Ltd to Report First Half, 2025 Results on Feb 20, 2025 VEEM Ltd announced that they will report first half, 2025 results on Feb 20, 2025 New Risk • Jan 07
New minor risk - Market cap size The company's market capitalization is less than US$100m. Market cap: AU$156.1m (US$98.0m) This is considered a minor risk. Companies with a small market capitalization are most likely businesses that have not yet released a product to market or are simply a very small company without a wide reach. Either way, risk is elevated with these companies because there is a chance the product may not come to fruition or the company's addressable market or demand may not be as large as expected. In addition, if the company's size is the main factor, it is less likely to have many investors and analysts following it and scrutinizing its performance and outlook. This is currently the only risk that has been identified for the company. Valuation Update With 7 Day Price Move • Nov 15
Investor sentiment deteriorates as stock falls 21% After last week's 21% share price decline to AU$1.20, the stock trades at a forward P/E ratio of 21x. Average forward P/E is 11x in the Machinery industry in Australia. Total returns to shareholders of 36% over the past three years. Valuation Update With 7 Day Price Move • Sep 25
Investor sentiment deteriorates as stock falls 15% After last week's 15% share price decline to AU$1.36, the stock trades at a forward P/E ratio of 24x. Average forward P/E is 10x in the Machinery industry in Australia. Total returns to shareholders of 21% over the past three years. Announcement • Sep 24
VEEM Ltd, Annual General Meeting, Nov 14, 2024 VEEM Ltd, Annual General Meeting, Nov 14, 2024. Declared Dividend • Aug 24
Final dividend of AU$0.0077 announced Shareholders will receive a dividend of AU$0.0077. Ex-date: 5th September 2024 Payment date: 20th September 2024 Dividend yield will be 0.8%, which is lower than the industry average of 2.7%. Payout Ratios Payout ratio: 22%. Cash payout ratio: 25%. Announcement • Aug 24
VEEM Ltd Declares Final Unfranked Ordinary Dividend for the Year Ended 30 June 2024, Payable on 20 September 2024 The directors of VEEM Ltd. has declared a final unfranked ordinary dividend of AUD 0.0077 per share ($1,045,425) for the year ended 30 June 2024. Date the dividend is payable on 20 September 2024 and Record date to determine entitlement to the dividend on 6 September 2024. Reported Earnings • Aug 22
Full year 2024 earnings released: EPS: AU$0.052 (vs AU$0.03 in FY 2023) Full year 2024 results: EPS: AU$0.052 (up from AU$0.03 in FY 2023). 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. 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. Over the last 3 years on average, earnings per share has increased by 31% per year but the company’s share price has only increased by 9% per year, which means it is significantly lagging earnings growth. Announcement • Aug 09
VEEM Ltd to Report Fiscal Year 2024 Results on Aug 22, 2024 VEEM Ltd announced that they will report fiscal year 2024 results on Aug 22, 2024 Announcement • Jun 08
VEEM Ltd Appoints Angus Murnaghan as an Independent Non-Executive Director and Ian Barsden to Retire as a Director Effective 30 June 2024 VEEM Limited announced that Mr. Angus Murnaghan has joined the Board of VEEM as an independent non-executive Director and Mr. Ian Barsden will retire as a director effective 30 June 2024. Angus Murnaghan has a Bachelor of Commerce from UNSW and is highly experienced in capital markets and smaller companies with almost 40 years of experience in the Australian equities markets in senior roles. Angus has worked at leading finance and advisory groups including UBS, Ord Minnett, as Managing Director of Moelis & Company and Wentworth Securities including serving on the management committee of UBS. Angus has been responsible for the sales and distribution function for over 50 IPO's ranging from $50 million to $1 Billion. Currently Angus is a non-executive director of, and consultant to, diversified investment company Hancock and Gore Ltd. Angus was previously a director of emerging project software provider Total Synergy and served as a Board member of The Sporting Chance Cancer Foundation. Angus is a qualified Master Mariner (Class V) and worked as a master on commercial vessels on Sydney Harbour whilst at university. Ian provided advisory services to VEEM as a consultant from 1980 to 2016 when he joined the Board of VEEM Limited as a non-executive Director prior to the IPO. Valuation Update With 7 Day Price Move • Mar 29
Investor sentiment improves as stock rises 20% After last week's 20% share price gain to AU$1.78, the stock trades at a forward P/E ratio of 34x. Average forward P/E is 11x in the Machinery industry in Australia. Total returns to shareholders of 77% over the past three years. Valuation Update With 7 Day Price Move • Mar 14
Investor sentiment improves as stock rises 18% After last week's 18% share price gain to AU$1.57, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 10x in the Machinery industry in Australia. Total returns to shareholders of 50% over the past three years. Declared Dividend • Feb 24
First half dividend increased to AU$0.0077 Dividend of AU$0.0077 is 93% higher than last year. Ex-date: 5th March 2024 Payment date: 17th April 2024 Dividend yield will be 1.0%, which is lower than the industry average of 2.7%. Payout Ratios Payout ratio: 21%. Cash payout ratio: 32%. Announcement • Feb 15
VEEM Ltd to Report First Half, 2024 Results on Feb 22, 2024 VEEM Ltd announced that they will report first half, 2024 results on Feb 22, 2024 Valuation Update With 7 Day Price Move • Jan 23
Investor sentiment improves as stock rises 17% After last week's 17% share price gain to AU$1.22, the stock trades at a forward P/E ratio of 31x. Average forward P/E is 16x in the Machinery industry in Australia. Total returns to shareholders of 62% over the past three years. Announcement • Oct 05
VEEM Ltd, Annual General Meeting, Nov 22, 2023 VEEM Ltd, Annual General Meeting, Nov 22, 2023, at 15:00 W. Australia Standard Time. Reported Earnings • Aug 25
Full year 2023 earnings released: EPS: AU$0.03 (vs AU$0.009 in FY 2022) Full year 2023 results: EPS: AU$0.03 (up from AU$0.009 in FY 2022). Revenue: AU$59.6m (up 9.8% from FY 2022). Net income: AU$4.10m (up 224% from FY 2022). Profit margin: 6.9% (up from 2.3% in FY 2022). The increase in margin was driven by higher revenue. Revenue is forecast to grow 9.0% p.a. on average during the next 3 years, compared to a 33% decline forecast for the Machinery industry in Australia. Over the last 3 years on average, earnings per share has fallen by 12% per year but the company’s share price has increased by 6% per year, which means it is well ahead of earnings. Announcement • Aug 24
Veem Ltd Recommends A Final Unfranked Ordinary Dividend for the Six Months Ended 30 June 2023, Payable on 20 September 2023 The directors of VEEM Ltd. have recommended a final unfranked ordinary dividend of $0.0051 per share ($692,169) related to a period of six months ended June 30, 2023. Date the dividend is payable on 20 September 2023. Record date to determine entitlement to the dividend is 6 September 2023. Ex date is September 5, 2023. Announcement • Aug 10
VEEM Ltd to Report Fiscal Year 2023 Results on Aug 24, 2023 VEEM Ltd announced that they will report fiscal year 2023 results on Aug 24, 2023 Board Change • Apr 17
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Mike Bailey was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 24
First half 2023 earnings released: EPS: AU$0.014 (vs AU$0.002 in 1H 2022) First half 2023 results: EPS: AU$0.014 (up from AU$0.002 in 1H 2022). Revenue: AU$27.4m (up 4.0% from 1H 2022). Net income: AU$1.83m (up 453% from 1H 2022). Profit margin: 6.7% (up from 1.3% in 1H 2022). The increase in margin was primarily driven by higher revenue. Revenue is forecast to grow 11% p.a. on average during the next 3 years, compared to a 18% growth forecast for the Machinery industry in Australia. Over the last 3 years on average, earnings per share has fallen by 15% per year but the company’s share price has increased by 11% per year, which means it is well ahead of earnings. Board Change • Feb 24
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Mike Bailey was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jan 23
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Mike Bailey was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Jan 03
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Mike Bailey was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Nov 16
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Mike Bailey was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Oct 26
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Mike Bailey was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Aug 20
Full year 2022 earnings released: EPS: AU$0.009 (vs AU$0.038 in FY 2021) Full year 2022 results: EPS: AU$0.009 (down from AU$0.038 in FY 2021). Revenue: AU$54.3m (down 8.9% from FY 2021). Net income: AU$1.27m (down 74% from FY 2021). Profit margin: 2.3% (down from 8.2% in FY 2021). The decrease in margin was driven by lower revenue. Over the next year, revenue is forecast to grow 24%, compared to a 181% growth forecast for the Machinery industry in Australia. Over the last 3 years on average, earnings per share has fallen by 5% per year whereas the company’s share price has fallen by 1% per year. Board Change • Aug 13
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Mike Bailey was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Board Change • Apr 28
Less than half of directors are independent No new directors have joined the board in the last 3 years. The company's board is composed of: No new directors. 4 experienced directors. 1 highly experienced director. 2 independent directors (3 non-independent directors). Independent Non-Executive Director Mike Bailey was the last independent director to join the board, commencing their role in 2018. The following issues are considered to be risks according to the Simply Wall St Risk Model: Minority of independent directors. Insufficient board refreshment. Reported Earnings • Feb 24
First half 2022 earnings: EPS in line with analyst expectations despite revenue beat First half 2022 results: EPS: AU$0.002 (down from AU$0.023 in 1H 2021). Revenue: AU$26.3m (down 7.4% from 1H 2021). Net income: AU$330.4k (down 89% from 1H 2021). Profit margin: 1.3% (down from 11% in 1H 2021). The decrease in margin was primarily driven by lower revenue. Revenue exceeded analyst estimates by 6.3%. Over the next year, revenue is forecast to grow 11%, compared to a 63% growth forecast for the industry in Australia. Over the last 3 years on average, earnings per share has increased by 20% per year whereas the company’s share price has increased by 17% per year. Reported Earnings • Oct 17
Full year 2021 earnings released: EPS AU$0.038 (vs AU$0.019 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$59.5m (up 34% from FY 2020). Net income: AU$4.91m (up 99% from FY 2020). Profit margin: 8.2% (up from 5.6% in FY 2020). Over the last 3 years on average, earnings per share has increased by 29% per year and the company’s share price has also increased by 29% per year. Valuation Update With 7 Day Price Move • Aug 13
Investor sentiment improved over the past week After last week's 17% share price gain to AU$1.42, the stock trades at a forward P/E ratio of 35x. Average forward P/E is 20x in the Machinery industry globally. Total returns to shareholders of 149% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at AU$1.66 per share. Reported Earnings • Aug 06
Full year 2021 earnings released: EPS AU$0.037 (vs AU$0.019 in FY 2020) The company reported a strong full year result with improved earnings, revenues and profit margins. Full year 2021 results: Revenue: AU$59.5m (up 34% from FY 2020). Net income: AU$4.90m (up 98% from FY 2020). Profit margin: 8.2% (up from 5.6% in FY 2020). The increase in margin was driven by higher revenue. Over the last 3 years on average, earnings per share has increased by 28% per year whereas the company’s share price has increased by 29% per year. Valuation Update With 7 Day Price Move • May 27
Investor sentiment improved over the past week After last week's 18% share price gain to AU$1.32, the stock trades at a forward P/E ratio of 32x. Average forward P/E is 21x in the Machinery industry in Oceania. Total returns to shareholders of 238% over the past three years. Simply Wall St's valuation model estimates the intrinsic value at AU$0.97 per share. Reported Earnings • Feb 07
First half 2021 earnings released: EPS AU$0.023 (vs AU$0.007 in 1H 2020) The company reported a strong first half result with improved earnings, revenues and profit margins. First half 2021 results: Revenue: AU$28.4m (up 36% from 1H 2020). Net income: AU$3.00m (up 236% from 1H 2020). Profit margin: 11% (up from 4.3% in 1H 2020).