Vivopower International Plc Stock Price, News & Analysis

VivoPower International PLC (NASDAQ: VVPR) has been invited to present at the Alliance Global Partners Virtual Energy Conference on April 6, 2022. The Company’s Executive Chairman and CEO, Kevin Chin, along with Managing Director, Matt Davis, will be available for one-on-one investor meetings. VivoPower focuses on sustainable energy solutions, including battery storage and solar technology, aiming for net zero carbon status. The Company operates in multiple countries, including Australia and the USA.

VivoPower International PLC (NASDAQ: VVPR) reported an 11% decline in group revenue to $18.9 million for the half year ended December 31, 2021, primarily due to strict COVID-19 lockdowns in key markets, particularly Australia. Gross profit dropped 85% to $0.5 million, with a gross profit margin reduced to 3%. The underlying adjusted EBITDA loss was $4.9 million, down from a profit of $1.2 million in the prior period. Despite these challenges, the company secured full ownership of its US solar joint venture, rebranded it as Caret, and launched a cryptocurrency mining venture, Caret Decimal.

VivoPower International PLC (NASDAQ: VVPR) announced the relocation of its wholly-owned subsidiary, Kenshaw Electrical Pty Limited, to a new 10,000 square meter facility in Cardiff, New South Wales. The move represents an 85% increase in workshop and office space, now totaling 2,763 square meters. This modern facility enhances Kenshaw's capacity to serve clients in various industries, including data centers and healthcare. General Manager Adam Malcolm noted that the relocation aims to meet growing demands and expectations as market recovery begins following COVID-19 disruptions.

VivoPower International PLC (NASDAQ: VVPR) has announced the expansion of its subsidiary, Tembo e-LV B.V., to a new 29,795 square foot facility in Eindhoven, increasing their space by 113%. This move, effective May 1, 2022, is designed to enhance their capacity for developing and assembling electric light vehicle kits. Tembo's e-LV conversion kits have seen significant global demand, with partnerships established across six continents. The Eindhoven area is a key automotive hub, providing access to talent and resources critical for Tembo's growth.

VivoPower International PLC (NASDAQ: VVPR) will announce its half-year results for the period ending December 31, 2021, on February 24, 2022, at 16:30 EST / 21:30 GMT. CEO Kevin Chin will host an earnings conference call immediately afterward at 17:00 EST / 22:00 GMT. Dial-in numbers for the live call have been provided, along with a link for a live webcast and replay access. VivoPower focuses on sustainable energy solutions, including battery storage and solar technology, operating across several countries.

VivoPower (Nasdaq: VVPR) has announced the formation of Caret Decimal, a renewable-powered digital asset mining company, via a partnership with an experienced crypto-mining team. Caret will contribute 206 MW DC of solar sites in Texas, valued at $20 million, to facilitate this venture. Once operational, the mining sites are projected to reach 4,398 petahash capacity, generating approximately $270 million in annual revenue with an 87% EBITDA margin. The company aims to use its solar projects for optimal power-to-x applications, including cryptocurrency mining and green hydrogen production.

VivoPower International PLC (Nasdaq: VVPR) has signed a non-binding letter of intent to acquire Bensley Auto Investments Pty Ltd, the parent company of GB Auto Group, for an enterprise value of USD$7.6 million. This acquisition is expected to enhance VivoPower’s electrification mission in Australia, particularly in the heavy vehicle sector. GB Auto reported USD$22.3 million in revenue for FY21 and is recognized for its electric vehicle services in mining and construction. The deal represents an Adjusted EBITDA multiple of 3.6x and is projected to close by February 28, 2022.

VivoPower has launched a subsidiary in the UAE's Dubai Multi Commodities Centre to enhance its service capacity in the Middle East, Africa, and Indian markets. This strategic move coincides with the UAE's US$200 billion Net Zero 2050 Initiative, aimed at advancing clean energy solutions. Kevin Chin, CEO, emphasized the significance of Dubai as a logistics hub for sustainable energy products. VivoPower, a certified B Corporation, is committed to providing electrification solutions and decarbonization strategies for its clients globally.

VivoPower International PLC (NASDAQ: VVPR) announced its subsidiary, J.A. Martin Electrical Pty Limited, secured a contract for the 119MWdc Hillston Solar Farm in New South Wales, Australia. The project, underway now, marks the third solar farm completed by J.A. Martin and expands their portfolio to over 450MWdc. Once operational, the solar farm will produce approximately 235,000MWh of clean energy annually, powering nearly 54,000 homes and reducing carbon emissions by over 161,000 tonnes. The construction will create around 160 local jobs.