VEEM Ltd
VEE.AX
Australian Securities Exchange0.56
AUD
+0.01
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VEEM Ltd
VEE.AX
(Australian Securities Exchange)
Recent
price
0.56
P/E
ratio
- -
div
yld
- -
ROIC.AI
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- VEEM Ltd is an Australian designer and manufacturer of high-technology marine propulsion and stabilization systems serving the global luxury motor yacht, fast ferry, commercial workboat, and defense industries. Its core products include gyrostabilizers; CNC machined monobloc and fixed pitch propellers; patented Interceptor propeller technology allowing pitch adjustment without vessel slip; shaft lines; marine ride control fins; and bespoke engineered products for marine, defense, and mining sectors. VEEM operates from a 14,700 square meter purpose-built fabrication and manufacturing facility in Perth, Western Australia, which includes Australia’s largest non-ferrous foundry. The company also offers innovative piping solutions for the processing industry and provides engineering services as part of its product portfolio. Founded in 1968 and headquartered in Canning Vale, Australia, VEEM listed on the Australian Securities Exchange in 2016. It employs approximately 180 to 200 staff, including a highly skilled in-house research and development team focused on advancing propulsion and stabilization technology. VEEM has diversified its product applications to include defense vessels such as the US Navy LCS stabilizing fins and naval patrol boats, fast ferries, offshore workboats, and tournament fishing boats. Recent major developments include a strategic exclusivity agreement with Strategic Marine for fast crew boats in Southeast Asia involving a minimum purchase commitment of 12 gyrostabilizers over three years. In 2024 and 2025, VEEM launched an updated Mark II range of gyrostabilizers featuring enhanced performance and introduced the SHARROW by VEEM series of inboard propellers through an exclusive worldwide partnership to manufacture quieter and more fuel-efficient propellers. VEEM also secured a six-year, $65 million contract to supply propellers and shaft lines for Australia's Hunter Class frigate program. The company continues significant investment in capital equipment, robotics, and intellectual property development, supported by recent $2 million federal government grants to expand manufacturing capacity for naval and nuclear-powered submarine components. VEEM reported record revenue exceeding AUD 80 million in FY24 and continues strategic focus on the defense, luxury marine, and commercial vessel markets. VEEM Ltd operates domestically in Australia from its headquarter facilities and internationally through strategic partnerships targeting markets in Asia, North America, and Europe to support luxury yacht builders, defense programs, and commercial marine industries. It is a subsidiary of Veem Corporation Pty Ltd. The company emphasizes innovation, efficiency, and sustainability in marine propulsion technology development to maintain its leadership position in specialized marine propulsion and stabilization systems.