Vivopower International Plc Stock Price, News & Analysis

VivoPower International PLC (NASDAQ: VVPR) has appointed Kim Lawrence to its Advisory Council, enhancing its focus on clean technology and renewable energy. Based in Brisbane, Australia, Lawrence brings extensive experience in battery storage, electric vehicles, and energy sectors. Her previous roles include leadership positions at Clean Energy Finance Corporation and Low Carbon Australia. Kevin Chin, Executive Chairman and CEO, emphasized that her expertise is vital for VivoPower’s strategic growth in sustainable energy solutions, particularly in Australia.

VivoPower International PLC (NASDAQ: VVPR) announced a non-binding Letter of Intent to acquire a 51% stake in Tembo 4x4 e-LV B.V. for USD$4.7 million. Tembo specializes in battery-electric and off-road vehicles for various sectors including mining and humanitarian aid. In 2019, Tembo reported revenues of USD$2.3 million with an EBITDA loss of USD$0.2 million. This acquisition aims to broaden VivoPower’s market presence beyond mining and enhance its Electric Light Vehicles portfolio, tapping into a potential global market of USD$36 billion.

VivoPower International PLC (NASDAQ: VVPR) announced the formation of the VivoPower Advisory Council to support its transition to electric vehicles and sustainable energy. The council's first member is Eric Achtmann, an experienced executive notable for his role in the transformation of Costa Coffee. CEO Kevin Chin emphasized Achtmann's diverse expertise in innovation and the mobility sector as key to driving VivoPower's strategy. The company aims to enhance its capabilities in electric vehicle production and sustainable energy solutions.

VivoPower International PLC (Nasdaq: VVPR) reported record annual revenues of $48.7 million for the fiscal year ending June 30, 2020, marking a 12% increase from the previous year. The company's adjusted EBITDA showed a significant turnaround, rising by $7.7 million to reach $3.9 million. Despite challenges posed by COVID-19 lockdowns, gross profit rose by 28%. Although the statutory net loss was ($5.1 million), this is less than the ($11.3 million) loss reported in FY19. VivoPower is also pivoting to the electric vehicle market, focusing on light electric vehicles for the mining and infrastructure sectors.

VivoPower International PLC (NASDAQ: VVPR) has announced an earnings conference call scheduled for August 24, 2020, at 16:30 EDT. The call will be led by Kevin Chin, Executive Chairman and CEO, along with other company leaders. Interested participants must register via the provided link. The call will also be recorded and accessible on the company’s investor relations website.

VivoPower specializes in solar energy and critical power services, offering solutions for energy generation and distribution to various commercial and industrial clients.

VivoPower International PLC (NASDAQ: VVPR) announced that its Australian subsidiary, J.A. Martin Electrical Pty Limited, secured a contract with Carroll Cotton Company. The contract, valued at AUD$20 million, involves engineering, switchboards, and installation for a new cotton gin in New South Wales. The project is set for completion by March 2021 and will enable the gin to produce 100,000 tonnes of cotton annually, representing 10% of Australia's total crop. This contract strengthens J.A. Martin's role in the solar and electrical power sector within the Australian agriculture industry.

VivoPower International PLC (NASDAQ: VVPR) announced it will release its full-year results for the fiscal year ending June 30, 2020, on August 24, 2020, at 09:00 EDT. An earnings conference call hosted by Executive Chairman Kevin Chin is scheduled for the same day at 16:30 EDT. The company has also unveiled a new logo and updated website to enhance its brand presence. VivoPower specializes in solar and critical power services, focusing on energy infrastructure solutions for commercial and industrial sectors.

VivoPower International PLC (NASDAQ: VVPR) announced that its subsidiary Aevitas Group held an extraordinary meeting where 100% of exchangeable preference shareholders and noteholders approved a reconstitution of securities. This change will convert exchangeable preference shares and notes into non-dilutive preference shares, offering a 7% cumulative coupon. Key benefits include a 12.9% reduction in potential dilution for ordinary shareholders and a debt reduction of A$36.1 million (US$24.9 million) for Aevitas, simplifying the capital structure.

VivoPower International PLC (NASDAQ: VVPR) announced the approval of restricted stock units (RSUs) and performance stock units (PSUs) for its directors, including Executive Chairman and CEO Kevin Chin. The RSUs, totaling 260,458, are granted as an alternative to cash fees and will vest in one year, except for Chin's RSUs, which vest over four years. Additionally, Chin will receive 110,020 shares for deferred fees and 261,600 PSUs linked to performance criteria. The compensation plans were advised by a top compensation advisory firm.