VEEM Full Year 2024 Earnings: Beats Expectations

Unlock stock picks and a broker-level newsfeed that powers Wall Street.

Upgrade Now

editorial-team@simplywallst.com (Simply Wall St)

Tue, Aug 27, 2024, 4:17 PM 1 min read

VEEM (ASX:VEE) Full Year 2024 Results

Key Financial Results

Revenue: AU$80.6m (up 35% from FY 2023).
Net income: AU$6.99m (up 70% from FY 2023).
Profit margin: 8.7% (up from 6.9% in FY 2023). The increase in margin was driven by higher revenue.
EPS: AU$0.051 (up from AU$0.03 in FY 2023).

revenue-and-expenses-breakdown — ASX:VEE Revenue and Expenses Breakdown August 27th 2024

All figures shown in the chart above are for the trailing 12 month (TTM) period

VEEM Revenues and Earnings Beat Expectations

Revenue exceeded analyst estimates by 7.3%. Earnings per share (EPS) also surpassed analyst estimates by 7.1%.

In the last 12 months, the only revenue segment was Machinery & Industrial Equipment contributing AU$80.6m. The largest operating expense was General & Administrative costs, amounting to AU$24.9m (69% of total expenses). Explore how VEE's revenue and expenses shape its earnings.

Looking ahead, revenue is forecast to grow 13% p.a. on average during the next 3 years, compared to a 2.0% decline forecast for the Machinery industry in Australia.

Performance of the Australian Machinery industry.

The company's shares are down 1.4% from a week ago.

Balance Sheet Analysis

Just as investors must consider earnings, it is also important to take into account the strength of a company's balance sheet. See our latest analysis on VEEM's balance sheet health.

Have feedback on this article? Concerned about the content? Get in touch with us directly. Alternatively, email editorial-team (at) simplywallst.com.

This article by Simply Wall St is general in nature. We provide commentary based on historical data and analyst forecasts only using an unbiased methodology and our articles are not intended to be financial advice. It does not constitute a recommendation to buy or sell any stock, and does not take account of your objectives, or your financial situation. We aim to bring you long-term focused analysis driven by fundamental data. Note that our analysis may not factor in the latest price-sensitive company announcements or qualitative material. Simply Wall St has no position in any stocks mentioned.