Latest Veem (Asx:Vee) News

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VEEM Limited reported a year of consolidation in FY25 with solid second-half growth driven by new defence contracts and the promising launch of its VEEM Extreme propulsion system. Despite a revenue dip, the company is poised for a stronger FY26 backed by strategic US defence partnerships and product innovation.
Victor Sage
Victor Sage
27 Nov 2025
VEEM Limited has launched its most efficient marine propulsion system, the VEEM Extreme package, delivering up to 18.1% fuel savings and speed gains. Early trials with Manly Fast Ferries signal strong commercial interest.
Victor Sage
Victor Sage
6 Nov 2025
VEEM Ltd has secured $14 million through a placement to fuel its expansion in defence manufacturing, including a landmark US$33 million licence agreement with Northrop Grumman. The company is poised to accelerate revenue in the second half of FY26 as it deepens ties with major US defence contractors.
Victor Sage
Victor Sage
30 Sept 2025
VEEM Limited has completed a $14 million placement to accelerate its growth in the defence sector, highlighted by a new 9-year manufacturing licence agreement with Northrop Grumman valued initially at US$33 million. This positions VEEM alongside major US defence contractors and signals a significant step into the expanding submarine and naval supply chains.
Victor Sage
Victor Sage
30 Sept 2025
VEEM Ltd reported a 15% revenue decline in FY25 amid rising costs and COVID impacts but showed a robust second-half recovery and secured a significant $65 million defence contract renewal.
Victor Sage
Victor Sage
21 Aug 2025
VEEM Limited’s FY25 results reveal a challenging year with revenue down 15%, yet a strong second half turnaround driven by cost cuts and efficiency gains. The company also secured a significant $65 million contract extension and new supplier status for a major US submarine program.
Victor Sage
Victor Sage
21 Aug 2025
VEEM Ltd posted a 15% revenue decline and a 57% net profit drop for FY25, reflecting cyclical defence contract impacts. The company secured a $65 million ASC contract extension and continues investing in R&D and automation to drive future growth.
Victor Sage
Victor Sage
21 Aug 2025
VEEM Limited has achieved approved supplier status with Huntington Ingalls Newport News Shipbuilding, positioning itself to enter the US defence supply chain with anticipated RFQs in the first half of FY26.
Victor Sage
Victor Sage
20 Aug 2025
VEEM Limited has renewed a six-year, $65 million contract to supply critical components for Australia's Collins Class submarines, reinforcing its long-standing defence partnership and projecting stronger financial performance in FY26.
Victor Sage
Victor Sage
12 Aug 2025
VEEM Limited has been awarded $2 million in government grants to enhance its manufacturing capabilities for critical naval components, supporting Australia's nuclear submarine and defence programs.
Victor Sage
Victor Sage
26 May 2025