Veem Ltd. · ASX:VEE
Veem — Euroz Investor Briefing March 2017
18 slides from Veem's conference presentation, Mar 14, 2017
Slide 1: Euroz Investor Briefing March 2017
For personal use only Euroz Investor Briefing March 2017
Slide 2: Disclaimer
Disclaimer For personal use only THIS DOCUMENT DOES NOT CONSTITUTE AN OFFER OR ADVERTISEMENT This document, including the information contained in this disclaimer, is not a prospectus, product disclosure statement or other disclosure document and does not constitute, or form any part of, an offer to
Slide 3: Company Overview
Company Overview For personal use only The VEEM Board VEEM Key Management VEE Brad Miocevich Les Kay ASX Code Chairman General Manager Mark Miocevich Managing Director & CEO Paul Steinmann Business & Development Manager – $0.63 Marine Share Price Ian Barsden Non Executive Director Mike Coyle Busines
Slide 4: Overview
Overview For personal use only Established and highly regarded industry leader ▪ VEEM is a Perth based high-technology specialist manufacturer of premium marine propulsion and gyro- stabilisation systems. ▪ Passionate about design and engineering excellence. ▪ An industry leader with an outstanding
Slide 5: Our Business
For personal use only OUR BUSINESS 5
Slide 6: Business History
Business History For personal use only 2012 Continuing our story 2005/6 New w orkshops Fast loop combining Osborne manufacturing Park into Canning process Vale implemented four year $30m LCS contract 2016 w ith Austal Conquest Ships secured Propellers 2000 2006/7 released 1987 Propeller Interceptor
Slide 7: Key Products and Services
Key Products and Services For personal use only Leading, high technology specialised supplier 7
Slide 8: Gyroscopic Stabilisers: Sales and Production update
Gyroscopic Stabilisers For personal use only Sales and Production update ▪ Units Completed: 7 x VG1201 ▪ Units in Production this year: ▪ 7 x VG120 ▪ 6 x VG260 ▪ Units Sold: 6 x VG120 ▪ Future vessels specified in: 4 ▪ Future vessel lines specified in: 5 ▪ Strong engagement with: 6 manufacturers ▪ K
Slide 9: Gyroscopic Stabilisers: VG120 sea trials on MY Tango
Gyroscopic Stabilisers For personal use only VG120 sea trials on MY Tango after installation in November 2016 ▪ 61% roll reduction was achieved with the VG120 was turned on. ▪ Wider operational area opened up for the MY Tango due to roll management. ▪ Guest transfer to and from the tender is faster,
Slide 10: Marine Propulsion
Marine Propulsion For personal use only ▪ New CNC machine increasing propeller production capacity to include 4.6m diameter propellers. Will be commissioned in the second half of the year. ▪ New European Business development manager Jonathan Shaw. ▪ Large amount of orders from Riva Yachts in Italy i
Slide 11: Conquest Propellers
Conquest Propellers For personal use only Conquest Propeller have been developed to specifically meet the demands of the replacement propeller market ▪ Since the release of Conquest late last year, VEEM has been actively engaging propeller distributors around the world ▪ Current number of dealers an
Slide 12: Propulsion Packages: Sales update
Propulsion Packages For personal use only Sales update ▪ Completed 4 shaft line jobs to the value of $240,000. ▪ Letter of intent for 19 vessels to the value of $2.8 million with an option for an additional 2 vessels. ▪ Quoted on additional shaft line jobs to the value of $3.2 million. 12
Slide 13: Continued Strategy and Drivers for Growth
Continued Strategy and Drivers for Growth For personal use only Strategy Drivers for Growth VEEM has strong capability and sees specific growth ▪ Sales and Marketing via third party distributors and opportunities in: agents. ▪ high-end marine propulsion equipment (propellers and shaft lines) for the
Slide 14: Financials
For personal use only FINANCIALS 14
Slide 15: H1 FY17 Financial Summary
H1: FY17 Financial Summary For personal use only H1 FY17 (5) A’$000,000 H1 FY 16 H1 FY 17 Prospectus Forecast Operating Revenue 16.88 21.00 23.38 Normalised PBT (1) 2.15 2.87 2.93 Normalised PAT (2) 1.89 2.69 2.40 Normalised profit after tax (PAT)2 was $2.69 million compared to a Pro Forma EBITDA (3
Slide 16: H1 FY17 Financial Summary Cont.. Balance Sheet
H1: FY17 Financial Summary Cont.. Balance Sheet For personal use only 31 December 2016 30 June 2016 $ $ ASSETS Current Assets Cash and cash equivalents 848,619 646,970 Trade and other receivables 6,936,101 10,217,218 Inventories 7,536,481 5,976,840 Other assets Total Current Assets 463,653 15,784,85
Slide 17: Summary
Summary For personal use only Total world domination in the marine propulsion and gyro-stabilisation markets ▪ Business performed as expected. ▪ Gyro sales and production have commenced as planned. ▪ First installation of VG120 on MY Tango completed and successful. ▪ Successful installation of VG120
Slide 18: VG120 installed on VEEM Viking Test Vessel
VG120 installed on VEEM Viking Test Vessel For personal use only