VivoPower(VVPR)2022-08-30 02:28Financial Data and Key Metrics Changes - Revenue declined to 4.7 million to 1.9 million cost overrun on the Bluegrass solar project [4] - EBITDA, including discontinued operations, showed a loss of 1.4 million in the previous year, while operating losses widened to 4.8 million [5] - Cash balance at year-end was 8.6 million, but was replenished to 14.5 million to 19.7 million post-balance date [21] Business Line Data and Key Metrics Changes - Tembo made significant progress, but deliveries were negatively impacted; the outlook remains positive with a focus on scaling production [22] - The solar electrical solutions business has grown at a compound annual growth rate of 57% year-on-year since FY 2019, with a strong pipeline of opportunities [26] Market Data and Key Metrics Changes - The company is experiencing a "green rush" in Australia, with a pipeline of over 23 gigawatts of solar farm products being built, supported by a new federal government favorable to renewables [25] - The company has identified the U.S. and Southeast Asia as key markets for launching micro factories [23] Company Strategy and Development Direction - The company has divested non-core businesses to reinvest in higher growth areas and established subsidiaries in key global markets [7] - Focus on scaling up assembly and production for EVs, with a key objective of launching micro factories [30] - Plans to spin off the Caret business unit to reinvest proceeds into EVs and RCS [31] Management's Comments on Operating Environment and Future Outlook - Management acknowledged ongoing headwinds from COVID and foreign exchange but expressed optimism about future growth and demand for EVs [2][5] - The company is taking advantage of market conditions to recruit world-class EV talent due to headcount reductions in other companies [23] Other Important Information - The company secured a commercial design services agreement with Toyota Australia, focusing on the development of next-generation battery conversion kits [7] - The company was recognized as one of the best B Corps in the world for governance and received accolades for global impact [14] Q&A Session Summary Question: How is the GB Auto and 70 Series affecting production? - Management stated that they are comfortable with the current supply to meet requirements, especially in Australia, and expect supply chain issues to ease in the medium term [32] Question: Can you confirm the growth of Tembo kits during testing? - Management expressed confidence in the Tembo kits, highlighting their performance once integrated into vehicles [33] Question: When are you expecting to buy shares? - Management indicated a commitment to buy shares but noted delays in transactions that have affected their ability to announce purchases [34]