Vivopower International Plc Stock Price, News & Analysis

VivoPower (Nasdaq: VVPR) reported a 23% decline in revenue, totaling $8.7 million for the six months ending December 31, 2022, attributed to a slowdown in solar projects and adverse weather effects in Australia. The gross loss from operations increased to ($3.6 million) due to these unseasonal conditions. The net after-tax loss remained consistent at ($10.4 million) with an EPS of ($0.44). However, cash reserves improved, rising to $3.2 million. VivoPower secured additional agreements, adding over 5,000 EV conversion kits, and received its first order for the next-gen EUV conversion kit.

VivoPower will announce its half-year results for the period ending December 31, 2022, on February 24, 2023, at 08:00 EST. The earnings conference call, hosted by Executive Chairman and CEO Kevin Chin, will begin at 08:30 EST. Stakeholders can register for the call to obtain dial-in information.

A live webcast will be available, with a replay accessible two hours after the call. VivoPower focuses on sustainable energy solutions and aims to provide decarbonization strategies for its clients, operating across multiple countries including the U.S., UK, and Australia.

VivoPower International PLC (NASDAQ: VVPR) has appointed Eduardo Nebot to its Advisory Council. Based in Sydney, Nebot is an Emeritus Professor at the University of Sydney and a consultant on autonomous systems. He brings over 35 years of experience in mining safety and automation, having collaborated with industry giants like Rio Tinto and BHP.

His role will focus on enhancing safety protocols as VivoPower aims to support the electrification of mining and automotive sectors. Nebot has previously led significant projects in autonomous systems and is a strong advocate for decarbonization in high-energy industries.

VivoPower International PLC (NASDAQ: VVPR) has announced positive developments for its subsidiary, Tembo e-LV B.V. The company has finalized a Design Services Agreement with Toyota Australia for the LandCruiser 70 Series. VivoPower has also secured bridge financing of $3 million from major shareholder AWN Holdings, with an extended repayment date of 18 months. Additionally, Tembo received a strategic investment of up to €2 million from a UAE-based family office investor, ensuring VivoPower retains majority ownership. These initiatives are aimed at enhancing Tembo's operations in sustainable electric solutions.

VivoPower International PLC (NASDAQ: VVPR) has announced a Supply Agreement with Evolution Group Holdings Limited to electrify their fleet of light utility vehicles over five years. Tembo EV Australia, a wholly-owned subsidiary of VivoPower, will lead the conversion of both existing and new vehicles to electric, aiming for the first fully electrified vehicle to be roadworthy in 2023. This makes Evolution the first traffic management company globally to commit to fleet electrification, enhancing eco-friendly solutions in Australia and New Zealand.

VivoPower International PLC (NASDAQ: VVPR) has signed a Supply Agreement with Evolution Group Holdings Limited to electrify its fleet of light utility vehicles for traffic management over five years. Tembo EV Australia, VivoPower's subsidiary, will convert existing and new vehicles to electric with a target for the first vehicle to be roadworthy by 2023. Evolution aims to set eco-friendly standards in the industry as the first traffic management company committed to fleet electrification.

The agreement includes vehicle conversion, training, and sustainable energy solutions, with Tembo evaluating assembly facilities in Australia.

VivoPower International PLC (NASDAQ: VVPR) has entered a significant distribution agreement with Energy Trading Company Mauritius (ETC Mauritius) for a minimum of 4,000 Tembo e-LV conversion kits until December 2027. This deal represents VivoPower's largest commitment to date, increasing total orders to 10,000 kits. The agreement allows Tembo to enter Kenya's second-hand vehicle market, targeting various sectors, including government and agriculture. The total addressable market for second-hand vehicle repowering is estimated to be worth $110 billion.

VivoPower International PLC (NASDAQ: VVPR) announced a definitive distribution agreement with Energy Trading Company Mauritius for a minimum of 4,000 Tembo electrification kits until December 2027, marking the largest distribution deal for the company. This partnership expands total commitments to over 10,000 kits and enables entrance into the second-hand vehicle repowering market, valued at approximately $110 billion. The kits convert diesel Toyota 4x4s into electric vehicles for various sectors in Kenya, supporting decarbonization goals.

On October 28, 2022, VivoPower International PLC received a notification from Nasdaq indicating its common stock no longer meets the minimum bid price requirement of $1 per share. The company has a 180-day compliance period until April 26, 2023, to regain compliance. If unable to do so, VivoPower may seek an additional compliance period. The company remains committed to monitoring its stock price and exploring options for compliance. VivoPower specializes in sustainable energy solutions and operates globally across several countries.