# VEE - VEEM Ltd



## System (5 October 2016)

VEEM is a marine technology company specialising in propulsion and stabilisation systems. VEEM also manufactures bespoke products and services for the marine, defence and mining industries.

It is anticipated that VEE will list on the ASX during October 2016.

http://www.veem.com.au


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## Country Lad (7 February 2021)

Interesting, no posts here at all in 4+ years.


*1H FY21 FINANCIAL RESULTS UPDATE*
_
EBITDA increased 111% over the previous corresponding period (“PCP”) to $5.7 million and net profit after tax was $3.0 million, an increase of 233% on the PCP. This result included JobKeeper receipts of $1.5 million which were not received in the PCP.

In this morning’s ASX release, Veem provided an unaudited update on its expected results for the half year to 31 December 2020. It said the audited results will be released later this month.

The company reported revenues of $28.4 million for the half year. That’s up 36% from the previous corresponding period.

Earnings before income, tax, depreciation and amortisation (EBITDA) of $5.7 million were up 111% from the first half of the 2020 financial year. Veem noted that figure includes $1.5 million it received from the government’s JobKeeper program.

Net profit after tax (NPAT) posted a 233% increase from the previous corresponding period, reaching $3.0 million.

The company said its gyrostabilisers sales were particularly strong, with the $3.6 million in revenue up 73% from the previous corresponding period.
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_Earnings per share (EPS) of 2.3 cents were up 229%._

Commenting on the results, Mark Miocevich, Veem’s managing director said:



> The continued increases in sales of VEEM Gyros with minimal increase to the overhead burden should continue to see the business generate strong EBITDA and cash flow. Across the business, and within Gyros, propulsion and defence specifically, we continue to see evidence of strong sales and profit potential for the rest of 2021.
> 
> VEEM is in the strongest position it ever has been with an existing robust core business which has allowed us to invest and support our focus on the rapid growth of our disruptive VEEM Gyro product into the global marine market. Following the signing of the framework agreement with Damen, one of the largest European shipbuilders, we are now on the cusp of delivering on what we have known for some time is a game changing opportunity.


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## Country Lad (3 September 2021)

Still under the radar by the looks of it. More than reasonable results.







Chart follows on from the one above and looks interesting, good possibility of it going on with it with a break.


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## sptrawler (3 September 2021)

These were the goto guys to get an engine balanced and blue printed, when the Perth drags were at Ravenswood, A specialist machining shop, I spent a fortune (for that point in time, today lunch money) to get a 308, to 300hp, again not much today.
But they really were $hit hot machine shop guys, drag car engines etc, they have now moved on to heavy engineering, a really competitive field, it is like going up a weight division in boxing.
They will have to get runs on the board and fill some big contracts, to get traction IMO.


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## galumay (4 September 2021)

I have looked at Veem a couple of times, a really good little business, but always expensive. I have never quite got the conviction that its a good enough business to pay such a relative high price for.


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## peter2 (20 May 2022)

*VEE* popped up in today's end of week high volume bullish bar (EOW HVBB) scan.
It's of no trading interest to me as price remains in a strong down trend. 

I am fascinated by the chart that shows a strong up trend that stops and quickly turns into a strong down trend. We see this in the charts all the time. Classic Weinstein staging (1,2,3,4). 

This company makes gyro stabilisation marine engines and propellers. Should be a good business with rich customers and their boats. 






Is is cheap enough now for the value investors?


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## galumay (20 May 2022)

No.


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## Country Lad (20 May 2022)

peter2 said:


> Is is cheap enough now for the value investors?



Not for me.  I was quite enjoying the ride until just after your first "yike". I would want to see what the cross on 16 May and why it went up today in small licks with about average volume for the day.


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