VEEM (ASX:VEE) has signed an AU$65 million, six-year defense renewal contract to continue supplying certain specialized parts for a submarine maintenance program to ASC till June 27, 2031, according to a Tuesday filing with the Australian bourse.
The company also expects fiscal year 2025 revenue in the range of AU$68 million to AU$69 million, down from the actual result of AU$80.6 million last year, the filing said.
Earnings before interest, taxes, depreciation, and amortization for the fiscal year are expected to be between AU$8.5 million and AU$9.5 million, down from AU$14.8 million the previous year.
Revenue from ASC is expected to be about AU$6.5 million, compared to about AU$16.1 million in fiscal year 2024, the filing added.
Disclaimer: Investing carries risk. This is not financial advice. The above content should not be regarded as an offer, recommendation, or solicitation on acquiring or disposing of any financial products, any associated discussions, comments, or posts by author or other users should not be considered as such either. It is solely for general information purpose only, which does not consider your own investment objectives, financial situations or needs. TTM assumes no responsibility or warranty for the accuracy and completeness of the information, investors should do their own research and may seek professional advice before investing.