August 2021

VivoPower announces FY21 annual results and presentation

Completed strategic transformation to sustainable energy solutions (SES)

Acquired Tembo e-LV; distribution partner potential commitments for nearly 5,000 electric vehicle conversion kits

Raised $32 million in net proceeds from equity offerings; balance sheet fortified

Annual revenues of $40.4 million, impacted by COVID lockdowns

Underlying EBITDA decline to ($1.4) million loss from $3.9 million profit in FY20

VivoPower today announced its preliminary results for the fiscal year ended June 30, 2021.

Highlights for the fiscal year ended June 30, 2021:

  • Annual group revenues of $40.4 million, down 16% year-on-year, primarily due to COVID-19 related lockdowns resulting in project deferrals and operational disruptions, particularly in the Australian market
  • Gross profit margin increased from 15% to 16% despite revenue drop, due to operational efficiencies
  • Underlying EBITDA loss of ($1.4) million (versus EBITDA profit of $3.9m in FY20) due to increase in group overheads to support hyperscaling of Tembo and SES (including $1.9m for Tembo, $0.8m for SES, and $1.5m group corporate costs)
  • Statutory net after-tax loss of ($8.0) million for FY21 and earnings per share (EPS) of ($0.49) per share, as compared to a ($5.1) million loss and ($0.38) per share in FY20
  • Adjusted net after-tax loss of ($5.1) million and adjusted EPS of ($0.31) per share as compared to a ($1.7) million loss and ($0.12) per share respectively for FY20
  • Raised $32 million in net equity proceeds on Nasdaq (including via an ATM facility)
  • Reduced group net debt to $14.5 million from $23.1 million
  • Completed acquisition of 100% of Tembo e-LV for an aggregate price of $7.1 million cash plus $0.2 million equity
  • Secured nearly 5,000 potential commitments for Tembo electric light vehicle (e-LV) conversion kits; continuing to build out global Tembo distribution network
  • Electric vehicle (EV) conversion program with Toyota Australia for Land Cruiser, using Tembo kits
  • Completed feasibility study for first full suite, turnkey SES project for Tottenham Hotspur Football Club to pursue net zero carbon status
  • Secured full ownership of US solar development portfolio (formerly a JV) representing 682 MW-DC of total renewable generating capacity
  • Recognised as a Real Leaders Impact company for the first time, ranking in the top 50 globally

VivoPower’s Full Year Results Presentation can be found here. A recording of the results teleconference will be available on our Investor Relations page under ‘Events and Presentations.’

Read More

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June 2024

VivoPower's Tembo Secures 200 Tuskers Worth US$10M

June 2024

VivoPower's Tembo Launches Full Electric Tembo Tusker with First 50 Committed Orders

June 2024

VivoPower's Tembo Launches Full Electric Pick Up Utility Vehicle with Capital Light Global Supply Chain

April 2024

VivoPower Announces Further Strategic Direct Investment in Tembo from Emirati Investment Office

April 2024

VivoPower Announces Binding Heads of Agreement to Merge Tembo into NASDAQ-listed CCTS at an Indicative US$838M Equity Value

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