Slide 1: VEEM Ltd Business & Trading Update
VEEM LTD INVESTOR PRESENTATION MARCH 2020 VEEM LTD BUSINESS & TRADING UPDATE 26 JUNE 2023 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 01 Trading Update Highlights 02 Executive Summary 03 Operational Update 04 FY23 Capital Investment 05 Outlook 3
Slide 4: Trading Update
Trading Update • VEEM expects its activity level (Sales + change in WIP) for FY23 to be ~$60m with EBITDA and profit to be ahead of analyst forecasts of $8.3m and $2.9m respectively. • Gyro sales for the year are expected to be $5m (included in the $60m activity above) with orders in hand of $11m in
Slide 5: Executive Summary
Executive Summary • VEEM has had a highly productive half-year to 30 June 2023, particularly the last quarter, providing good momentum into FY24. • Three new propeller machining centres, associated equipment and tooling were installed and commissioned with May recording a record month for propeller
Slide 6: Operational Update
VEEM LTD INVESTOR PRESENTATION MARCH 2020 OPERATIONAL UPDATE PRINCESS YACHTS
Slide 7: Gyrostabilizers
Gyrostabilizers • Revenue from gyrostabilisers is expected to be $5m for the year with 2HFY23 being $3m, almost double 1HFY23. Orders on hand are $11m including the Strategic Marine orders per below. • Exclusivity agreement signed with Strategic Marine for fast crew boats in SE Asia. Strategic have
Slide 8: Propulsion
Propulsion • Three new propeller machining centres and associated equipment and tooling were installed and commissioned with May recording a record month for propeller sales ($2.3m) and June continuing the stepped up production levels. • With the increased production VEEM has put in place a specific
Slide 9: Defence
Defence • VEEM continues to be a reliable, local source of highly sophisticated critical components for the Collins Class submarines. Revenue from the submarine program is expected to be over $6m for 2HFY23 taking the full year revenue for submarines alone to $12m. • In May VEEM successfully poured
Slide 10: Engineering Products and Services
Engineering Products and Services • VEEM’s hollow bar product revenue for 2HFY23 is expected to be ~$3.2m which is a 30% increase over the first half due to strong demand and increased capacity. • Delivery commenced for the Latrobe Magnesium’s Latrobe Valley Stage 1 Demonstration Plant which will co
Slide 11: FY23 Capital & Development Investment
VEEM LTD INVESTOR PRESENTATION MARCH 2020 FY23 CAPITAL & DEVELOPMENT INVESTMENT PRINCESS YACHTS
Slide 12: FY23 Capital & Development Investment
FY23 Capital & Development Investment • 2HFY23 saw a total of $5.5m of investment in plant and equipment and engineering development including: - two new propeller machining centres, associated equipment and tooling* - Large 3D printer - Large laser Scanner - Product Development including gyro engin
Slide 13: Outlook
VEEM LTD INVESTOR PRESENTATION MARCH 2020 OUTLOOK PRINCESS YACHTS
Slide 14: Outlook
Outlook Gyrostabilisers: • The agreement with Strategic Marine highlights the commercial market for gyrostabilizers is becoming better educated at the operational, HSE and commercial benefits of gyros for crew transfers. • Continued investments into marketing, smaller models and further development
Slide 15: Appendix
VEEM LTD INVESTOR PRESENTATION MARCH 2020 APPENDIX PRINCESS YACHTS
Slide 16: Corporate Overview
Corporate Overview Corporate Snapshot VEE Share Price History 0.8 10 ASX Code VEE Vol. - Million 9 0.7 Share Price (23 June 2023) $0.41 8 0.6 7 Market Capitalisation (23 June 2023) $55m 0.5 6 Shares on Issue 136m 0.4 5 4 0.3 3 0.2 Substantial Shareholders 2 0.1 1 Miocevich Family 50.20% 0 0 Jun-22 J
Slide 17: Contact
This ASX announcement was authorised for release by VEEM Managing Director, Mark Miocevich. Contact VEEM LTD INVESTOR PRESENTATION Mark Miocevich David Rich Jonas Fitzgerald Managing Director CFO MARCH 2020 IR Consultant, Lancaster Grove Capital +61 8 9455 9355 +61 8 9455 9355 Jonas.fitzgerald@lgcap