VivoPower(VVPR)2021-08-23 15:53Financial Data and Key Metrics Changes - Group revenues decreased by 16% to 48 million in the previous year, primarily due to COVID-19 related lockdowns impacting operations and project delays in Australia [2][12] - Gross profit declined by 11%, but gross margins improved from 14.7% to 15.6% due to efficiency gains [3] - Underlying EBITDA fell to a loss of 3.9 million in the prior year, influenced by increased overhead costs and non-recurring charges [4][12] - The statutory loss after tax increased to 5 million in the previous year, with statutory EPS worsening to negative 0.38 [12] Business Line Data and Key Metrics Changes - Critical Power Services faced project delays due to lockdowns but expects strong rebounds starting October 2021 as vaccination rates increase [14][15] - Tembo's focus for FY '22 is on delivering orders to key markets, particularly Australia, while managing supply chain challenges [17] - Sustainable Energy Solutions (SES) aims to capitalize on decarbonization trends in the mining industry, with expectations to deliver projects with Tottenham Hotspur [18] Market Data and Key Metrics Changes - The Australian government plans to end lockdowns once vaccination rates reach 70%, which is expected in October, and 80% by early November [14] - The mining sector is experiencing high commodity prices, which is expected to drive infrastructure spending and demand for critical power services [16] Company Strategy and Development Direction - The acquisition of Tembo is seen as transformational, with commitments for nearly 5,000 electric vehicle conversion kits and a partnership with Toyota Australia [6][12] - The company is pivoting from turnaround mode to hyperscale mode, focusing on growth in the Tembo and SES businesses [9] - Future objectives include expanding SES capabilities, completing projects with Tottenham Hotspur, and enhancing engineering and sales teams [21][24] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about recovery in the critical power services business post-lockdowns, supported by strong infrastructure spending and a resurgent mining sector [15][16] - The company is committed to further investments in R&D and engineering to enhance product offerings and meet growing demand [17][18] Other Important Information - The balance sheet improved significantly, with net assets increasing to over 17.9 million, and cash balance rising to 2.8 million [5][13] - The company has rebranded its solar entity to Caret Solar, focusing on Power2X applications, including crypto-mining and green hydrogen [19][20] Q&A Session Summary - The conference call concluded without any recorded questions or answers, indicating a lack of engagement during the Q&A segment [26]