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VEEM Ltd ASX:VEE

0 opened or increased1 held0 reduced or exitedlatest position by manager, past 12 months90 days: 0 increased, 0 reduced. 3 managers in total.

Position history by manager 3 managersSelect a point to see the comment

Opened or increasedHeldReduced or exited Start or end of the position not reported

202420252026

31 Dec 2023 to today

Commentary Showing 2 of 6

DateManagerActionSummary

31 Aug 2026Perennial PartnersHeldPerennial Partners continues to hold its position in VEEM despite the stock falling 7.6%, even though its FY26 result beat market expectations on both revenue and EBITDA. The manager expects FY27 defence activity to build as deliveries under the six-year $65 million ASC Collins Class contract ramp up, alongside further opportunities across Austal and other international defence programs, with propulsion activity and the VEEM Extreme range also gaining momentum, underpinning continued conviction in the stock despite the negative share price reaction to results.

Monthly Report, price recorded $0.55

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31 Jul 2026Perennial PartnersHeldPerennial Partners continues to hold VEEM after the stock rose 26.6% in a delayed reaction to the positive June trading update and an unwind of tax-loss selling late in the financial year. The manager cites a significant improvement in second-half trading, supported by increased defence activity and a recovery in marine propulsion demand, with FY26 revenue and EBITDA guidance reaffirmed and the completed factory expansion positioning the company to benefit from increased capacity and stronger activity into FY27.

Monthly Report, price recorded $0.60

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4 more comments on VEEPro shows every comment, with a link to each source document.

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First mention by manager

Price recorded at each manager's first comment

Price at first mentionThe share price recorded when each of 3 managers first commented on VEE.

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Articles

31 Aug 2026VEEM's Defence Contract Delays Gave Way to a Delayed Market Reaction

About VEEM Ltd

Industrials, Machinery

VEEM (ASX:VEE), a marine and defence engineering company, has been volatile around defence contract timing. In August 2026, Perennial Partners reported VEEM fell 7.6% despite an FY26 result that beat expectations on revenue and EBITDA, noting it expects FY27 defence activity to build as deliveries under a six-year contract ramp up. Perennial reported a 27% rise in July as the market belatedly reacted to a positive June trading update, after VEEM had fallen almost 40% in November 2025 on lower earnings guidance caused by delays in major defence contracts. VEEM operates in the Industrials sector within the Machinery industry, and Thesis Tracker has captured 5 comments from 3 fund managers, including Perennial Partners. Founded in 1968 and headquartered in Canning Vale, Perth, VEEM designs and manufactures gyroscopic stabilisers, propellers and propulsion systems for superyachts and naval vessels, including components for the Hunter-class frigate and submarine programs.

Market cap: $71m
Price to earnings: Loss-making
Return on equity: -34.2%
Dividend yield: 0.0%
Price to book: 1.69x
Net margin: -34.4%
52-week range: $0.45 to $1.50

Company figures as of 15 Oct 2026. For information only.

Questions

Who is investing in VEEM Ltd (ASX:VEE)?

Fund managers including Perennial Partners and Renaissance Asset Management have invested in VEEM Ltd (ASX:VEE).

What opportunities or catalysts do fund managers highlight for VEEM Ltd?

Perennial highlights an FY26 result ahead of expectations and growing defence activity under a six-year contract for naval programs such as the Hunter frigates.

What are the key risks to the VEEM Ltd investment thesis, according to fund managers?

Perennial notes VEEM fell almost 40% when defence contract delays led to lower earnings guidance, showing sensitivity to contract timing.

What does VEEM Ltd (ASX:VEE) do?

Veem Ltd. is an Australian-based company headquartered in Canning Vale, established in 1968 by Voyka and Elizabeth Elsie Miocevich. The firm specializes in the engineering, manufacturing, and supply of advanced stabilization systems and propulsion products. Veem Ltd. services clients across three primary sectors: marine, defence, and mining. By providing mission-critical technology and support services, the company maintains a strategic role in industrial infrastructure. Veem Ltd. remains focused on performance-driven solutions for global maritime and industrial applications.

General information only. Thesis Tracker reports what named fund managers have published about ASX companies. It does not take into account your objectives, financial situation or needs, and is not financial product advice or a recommendation to buy, sell or hold any security.

11,356 comments from 164 managers on 761 companies, snapshot 15 Oct 2026.

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