Slide 1: FY25 Results Presentation
FY25 RESULTS PRESENTATION 21 AUGUST 2025 VEEM LTD INVESTOR PRESENTATION MARCH 2020 PRINCESS YACHTS
Slide 2: Disclaimer
DISCLAIMER THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER OR ADVERTISEMENT PAST PERFORMANCE This document, including the information contained in this disclaimer, is not a prospectus, product disclosure statement or other Past performance information in this document is given for illustration purposes o
Slide 3: Agenda
Agenda 1. FY25 Highlights 2. Executive Summary 3. Financial Results 4. Operational Performance 5. Q&A 3
Slide 4: Who we are - Long-term growth trajectory continues
Who we are -Long-term growth trajectory continues Half Yearly Revenue Trend Since Listing 45,000,000 2HFY25 Revenue 40,000,000 35,000,000 30,000,000 25,000,000 20,000,000 15,000,000 10,000,000 5,000,000 - 1H FY17 2H FY17 1H FY18 2H FY18 1H FY19 2H FY19 1H FY20 2H FY20 1H FY21 2H FY21 1H FY22 2H FY22
Slide 5: FY25 Highlights
FY25 Highlights Revenue Total Activity1 EBITDA $68.6m $68.4m $9.2m Revenue, EBITDA and NPAT down on the prior year due to raw materials and freight cost increases, general staff shortages and COVID impact on customers, suppliers and staff. EBITDA Margin EBIT NPAT 13.4% $4.3m $3.0m Increased propelle
Slide 6: Executive Summary
Executive Summary • VEEM’s FY25 had a strong second half with increased revenue and profitability. • Revenue was $68.6m with 2HFY25 revenue of $35.1m up 4% on 1HFY25 but FY25 was down 15% on FY24. • EBITDA was $9.2m with 2HFY25 EBITDA of $5.3m up 36% on 1HFY25 but FY25 was down 38% on FY24 • EBITDA
Slide 7: Financial Results
FINANCIAL RESULTS VEEM LTD INVESTOR PRESENTATION MARCH 2020 PRINCESS YACHTS
Slide 8: FY25 Result
FY25 Result FY24 was a record year and 2HFY25 a significant improvement on 1HFY25 • ASC revenue of $6.5m was a reduction of $9.6m in FY25 FY24 FY25 due to the cyclical nature of the contract. ASC % Change A$mil. A$mil. Revenue expected to increase in FY26 in particular 2HFY26. • 6yr -$65m contract e
Slide 9: A tale of 2 halves
A tale of 2 halves Improved profitability & cash generation 2HFY25 1HFY25 • While revenue related to the submarine program % Change A$mil. A$mil. continued to decelerate in 2HFY25, revenue from the other defence segments made up for this Revenue 35.1 33.6 +4% leading to a net increase in 2HFY25. • C
Slide 10: Balance Sheet
Balance Sheet Investment continues to drive efficiency into the future FY25 FY24 % Change A$mil. A$mil. • The Company held cash on hand of $0.8m at 30 June 2025 (30 June 2024: $0.2m) with a drawn Current Assets 43.0 39.3 +9% overdraft facility of $2.5m (30 June 2024: $0.4m) and undrawn amount of $1.
Slide 11: Cash Flow
Cash Flow Solid cash flow from operations and investments in assets • Cashflow from operations was $4.3m (2024: $8.4m) reflecting the lower EBITDA result for FY25 FY24 % Change FY24. A$mil. A$mil. • The investment cash outflow of $1.7m represents continued investment in the business and doesn’t Cash
Slide 12: Operational Performance
OPERATIONAL PERFORMANCE VEEM LTD INVESTOR PRESENTATION MARCH 2020 PRINCESS YACHTS
Slide 13: FY25 Revenue
FY25 Revenue Acceleration in 2HFY25 1HFY25 2HFY25 FY25 A$mil. Comments A$mil. A$mil. Propulsion down in 2HFY25 as some capacity utilised by Defence propulsion Propulsion 14.3 12.4 26.7 which is categorised under defence below. 15.6 ASC was down $2.4m in 2HFY25 but other defence work up 3.4m making u
Slide 14: Propulsion
Propulsion • Propulsion revenue continued to be strong in FY25 coming off a record year in FY24 which had a backlog to clear. Total propulsion revenue (incl Defence) was $35.0m compared to $35.3m for FY24. • During the year VEEM acquired further robotics and tooling as it continues to optimise and a
Slide 15: Defence
Defence • Overall defence revenue was $15.6 million, down $5.2m on FY24 due to the cyclical nature of the ASC contract noting ASC revenue was down $9.6m with other Defence revenue (up 4.3m)partially compensating. • 6 year- $65m contract signed with ASC, revenue expected to increase in FY26 in partic
Slide 16: Gyrostabilisers
Gyrostabilisers • In FY25 VEEM sold 13 gyros (FY24: 18) generating revenue of $9.6m (30 June 2023: $12.3m). • FY24 was particularly strong due to acceleration of the Strategic Marine contract with 11 sold to Strategic in FY24 compared to 2 in FY25 under this contract. • Revenue accelerated in FY25 w
Slide 17: Engineering Products and Services (EP&S)
Engineering Products and Services (EP&S) • VEEM’s EP&S (excl defence) revenue for FY25 was $16.7m up $0.8m (+5%) on FY24 as demand remained strong and additional work used some capacity left by reduction in defence work. • Repeat orders in H2FY25 of complex work achieved the margins expected. • VEEM
Slide 18: Capital & Development Investment
Capital & Development Investment • FY25 saw $3.9m of investment in plant and equipment and capitalised engineering development including: ✓ Additional robotics ✓ Product Development including gyro engineering related to product improvement. • $0.8m of equipment purchases and some internally generate
Slide 19: Corporate
Corporate • In August VEEM achieved Huntington Ingalls Incorporated Newport News Shipbuilding (HII- NNS) approved supplier status via The AUSSQ Pilot Program which was to streamline and accelerate the qualification of Australian suppliers into the US Submarine Industrial Base to supply components fo
Slide 20: Outlook
Outlook Defence: • Defence revenue expected to accelerate in particular in 2HFY26 in line with cyclical nature of Submarine Program. • VEEM continues to be awarded contracts for numerous other defence projects including army vehicles and naval projects such as patrol boats (eg. Austal’s Evolved Cape
Slide 21: Q&A
Q&A 21
Slide 22: Appendices
VEEM LTD INVESTOR PRESENTATION MARCH 2020 APPENDICES PRINCESS YACHTS
Slide 23: Corporate Overview
Corporate Overview Corporate Snapshot VEE Share Price History ASX Code VEE 1.8 2 1.8 Share Price (20 August 2025) $1.20 1.6 1.6 1.4 Market Capitalisation (20 August 2024) $163m 1.4 1.2 1.2 Shares on Issue 136m Million 1 1 $ 0.8 0.8 Substantial Shareholders % 0.6 0.6 0.4 0.4 Miocevich Family 50.11% 0
Slide 24: Contact VEEM LTD
This ASX announcement was authorised for release by the Board of VEEM Ltd. Contact VEEM LTD INVESTOR PRESENTATION Mark Miocevich Tino Kapfumo Jonas Fitzgerald Managing Director Chief Finance Officier MARCH 2020 Investor Relations +61 8 9455 9355 +61 8 9455 9355 jonas.fitzgerald@lgcapital.com.au +61