Australia · Delayed Price · Currency is AUD VEEM Ltd Earnings Call Transcripts
Fiscal Year 2026
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Revenue and EBITDA met guidance but declined year-over-year due to lower gyro sales and delayed defense orders. Second half performance rebounded with strong marine and defense activity, new product launches, and a strengthened balance sheet. Robust outlook for FY 2027 with continued growth expected.
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Revenue and EBITDA were down due to a global marine slowdown and delayed defense contracts, but strong cash flow and a robust balance sheet position the business for recovery. Major product launches and facility expansion support future growth, with defense and new technologies expected to drive higher sales.
Fiscal Year 2025
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FY 2025 saw revenue of $68.6M and EBITDA of $9.2M, with a strong second half driven by new contracts and cost reductions. Major defense contracts are set to drive significant growth from late FY 2026, while CapEx and cash are being managed to support expansion and upcoming work.
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Revenue for the half was AUD 33.6 million, down 10% year-over-year but up 23% on FY 2023, with EBITDA and net profit at the upper end of guidance. The outlook is strong, with a robust order book, new contracts, and margin improvements expected to drive a stronger second half.