Document And Entity Information
Document And Entity Information | 12 Months Ended |
Jun. 30, 2021shares | |
Document Information [Line Items] | |
Entity Central Index Key | 0001681348 |
Entity Registrant Name | VivoPower International PLC |
Amendment Flag | false |
Current Fiscal Year End Date | --06-30 |
Document Fiscal Period Focus | FY |
Document Fiscal Year Focus | 2021 |
Document Type | 20-F |
Document Annual Report | true |
Document Period End Date | Jun. 30, 2021 |
Document Transition Report | false |
Entity File Number | 1-37974 |
Entity Address, Address Line One | The Scalpel, 18th Floor, 52 Lime Street |
Entity Address, City or Town | London |
Entity Address, Postal Zip Code | EC3M 7AF |
Entity Address, Country | GB |
Title of 12(b) Security | Ordinary Shares, nominal value $0.012 per share |
Trading Symbol | VVPR |
Security Exchange Name | NASDAQ |
Entity Common Stock, Shares Outstanding | 18,506,064 |
Entity Well-known Seasoned Issuer | No |
Entity Voluntary Filers | No |
Entity Current Reporting Status | Yes |
Entity Interactive Data Current | Yes |
Entity Filer Category | Non-accelerated Filer |
Entity Emerging Growth Company | true |
Entity Ex Transition Period | false |
Entity Shell Company | false |
Entity Incorporation, State or Country Code | X0 |
Document Shell Company Report | false |
Document Accounting Standard | International Financial Reporting Standards |
Document Registration Statement | false |
Business Contact [Member] | |
Document Information [Line Items] | |
Entity Address, Address Line One | The Scalpel, 18th Floor, 52 Lime Street |
Entity Address, City or Town | London |
Entity Address, Postal Zip Code | EC3M 7AF |
Entity Address, Country | GB |
City Area Code | 7941 |
Local Phone Number | 166-696 |
Contact Personnel Name | Kevin Chin |
Consolidated Statement of Compr
Consolidated Statement of Comprehensive Income - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | |
Statement Line Items [Line Items] | ||||
Revenue from contracts with customers | $ 13,617 | $ 40,411 | $ 47,986 | $ 39,036 |
Costs of sales | (11,960) | (34,084) | (40,885) | (32,726) |
Gross profit | 1,657 | 6,327 | 7,101 | 6,310 |
General and administrative expenses | (1,291) | (11,133) | (5,479) | (7,685) |
Gain on solar development - net | 38 | 769 | 1,589 | (2,615) |
Other income | 0 | 1,511 | 724 | 0 |
Depreciation of property, plant and equipment | (214) | (1,089) | (898) | (430) |
Amortization of intangible assets | (223) | (1,167) | (868) | (990) |
Operating profit/(loss) | (33) | (4,782) | 2,169 | (5,410) |
Restructuring and other non-recurring costs | (525) | (2,880) | (3,410) | (2,017) |
Finance income | 0 | 2,179 | 33 | 4 |
Finance expense | (796) | (2,590) | (3,182) | (3,243) |
Loss before income tax | (1,354) | (8,073) | (4,390) | (10,666) |
Income tax | (92) | 115 | (713) | (557) |
Loss for the period | (1,446) | (7,958) | (5,103) | (11,223) |
Losses attributable to: | ||||
Equity owners of VivoPower International Plc | (1,446) | (7,571) | (5,103) | (11,223) |
Non-controlling interests | 0 | (387) | 0 | 0 |
Loss for the period | (1,446) | (7,958) | (5,103) | (11,223) |
Other comprehensive income | ||||
Currency translation differences recognized directly in equity | (102) | 1,601 | (1,028) | (2,998) |
Total comprehensive loss for the period attributable to owners of the company | $ (1,548) | $ (6,357) | $ (6,131) | $ (14,221) |
Earnings per share attributable to owners of the company (dollars) | ||||
Basic (in dollars per share) | $ (0.11) | $ (0.46) | $ (0.38) | $ (0.83) |
Diluted (in dollars per share) | $ (0.11) | $ (0.46) | $ (0.38) | $ (0.83) |
Consolidated Statement of Finan
Consolidated Statement of Financial Position - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Non-current assets | ||||
Property, plant and equipment | $ 2,575 | $ 2,486 | $ 2,951 | $ 1,205 |
Intangible assets | 47,449 | 29,849 | 31,762 | 32,366 |
Deferred tax assets | 2,495 | 1,347 | 2,113 | 2,054 |
Investments accounted for using the equity method | 0 | 8,225 | 0 | 0 |
Total non-current assets | 52,519 | 41,907 | 36,826 | 35,625 |
Current assets | ||||
Cash and cash equivalents | 8,604 | 2,824 | 7,129 | 4,522 |
Restricted cash | 1,140 | 1,013 | 632 | 1,319 |
Trade and other receivables | 12,712 | 12,556 | 14,992 | 10,399 |
Inventory | 1,537 | 0 | 0 | 0 |
Assets classified as held for sale | 0 | 4,080 | 13,530 | 13,530 |
Total current assets | 23,993 | 20,473 | 36,283 | 29,770 |
TOTAL ASSETS | 76,512 | 62,380 | 73,109 | 65,395 |
Current liabilities | ||||
Trade and other payables | 8,917 | 15,395 | 24,639 | 17,923 |
Income tax liability | 708 | 75 | 449 | 287 |
Provisions | 2,802 | 2,897 | 1,718 | 1,710 |
Loans and borrowings | 1,004 | 1,312 | 2,327 | 887 |
Total current liabilities | 13,431 | 19,679 | 29,133 | 20,807 |
Non-current liabilities | ||||
Total non-current portion of non-current borrowings | 22,087 | 24,642 | 19,359 | 18,380 |
Provisions | 165 | 169 | 2,100 | 2,222 |
Deferred tax liabilities | 411 | 0 | 1 | 1 |
Total non-current liabilities | 22,663 | 24,811 | 21,460 | 20,603 |
Total liabilities | 36,094 | 44,490 | 50,593 | 41,410 |
Equity | ||||
Share capital | 222 | 163 | 163 | 163 |
Share premium | 76,229 | 40,215 | 40,215 | 40,215 |
Cumulative translation reserve | 220 | (3,307) | (2,279) | (2,177) |
Other reserves | 15,314 | 21,408 | 20,076 | 19,846 |
(Accumulated deficit)/retained earnings | (51,567) | (40,773) | (35,659) | (34,062) |
Equity and reserves attributable to owners | 40,418 | 17,706 | 22,516 | 23,985 |
Non-controlling interest | 0 | 184 | 0 | 0 |
Total equity | 40,418 | 17,890 | 22,516 | 23,985 |
TOTAL EQUITY AND LIABILITIES | $ 76,512 | $ 62,380 | $ 73,109 | $ 65,395 |
Consolidated Statement of Cash
Consolidated Statement of Cash Flow - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | |
Cash flows from operating activities | ||||
Loss for the period | $ (1,446) | $ (7,958) | $ (5,103) | $ (11,223) |
Income tax | 0 | (115) | 713 | 913 |
Finance income | 0 | (2,397) | (33) | (4) |
Finance expense | 796 | 2,889 | 3,182 | 3,243 |
Depreciation of property, plant and equipment | 214 | 1,089 | 898 | 430 |
Amortization of intangible assets | 223 | 1,167 | 868 | 990 |
Gain/(loss) on solar development | (38) | (769) | (1,589) | 2,615 |
Disposal of treasury shares | 62 | 0 | 0 | 86 |
Increase in equity instruments | 368 | 0 | 113 | 815 |
Share based payments | 0 | 1,078 | 0 | 0 |
(Increase)/decrease in trade and other receivables | (4,593) | (813) | 2,411 | (2,543) |
(Decrease)/Increase in trade and other payables | 6,716 | (9,453) | (6,851) | 3,841 |
(Decrease)/increase in provisions | (114) | (95) | 1,295 | (728) |
Corporation tax payments | 0 | 0 | (477) | 0 |
Net cash from/(used in) operating activities | 2,188 | (15,377) | (4,573) | (1,565) |
Cash flows from investing activities | ||||
Interest received | 0 | 0 | 0 | 4 |
Proceeds on sale of property plant and equipment | 0 | 36 | 432 | 464 |
Purchase of property, plant and equipment | (400) | (937) | (884) | (348) |
Investment in capital projects | 0 | 0 | (277) | (245) |
Proceeds on sale of capital projects | 84 | 366 | 1,023 | 11,981 |
Acquisitions - consideration | 0 | (7,089) | 0 | 0 |
Acquisitions - cash acquired | 0 | 4,942 | 0 | 0 |
Net cash from/(used in) investing activities | (316) | (2,682) | 294 | 11,856 |
Cash flows from financing activities | ||||
Other borrowings | 0 | 18 | 0 | 0 |
Lease repayments | (63) | (360) | (422) | (304) |
Financing agreements proceeds | 0 | 0 | 4,000 | |
Financing agreements repayments | 0 | 0 | (6,000) | |
Proceeds from issuance of ordinary shares | 0 | 34,866 | 0 | 0 |
Costs associated with issuance of shares | 0 | (2,819) | 0 | 0 |
Debtor finance borrowings/(repayments) | 150 | (518) | (347) | 751 |
Loans from related parties | 766 | 1,300 | 0 | |
Repayment of loans from related parties | 0 | (2,226) | (257) | (1,520) |
Bank loan borrowings | 0 | (33) | 344 | |
Chattel mortgage borrowings | 0 | 32 | 300 | |
Finance expense | (796) | (5,296) | (515) | (3,243) |
Transfer from/(to) restricted cash | 687 | (127) | (381) | (1,319) |
Net cash from/(used in) financing activities | 744 | 23,537 | 22 | (7,635) |
Net (decrease)/increase in cash and cash equivalents | 2,616 | 5,478 | (4,257) | 2,656 |
Cash and cash equivalents at the beginning of the period | 4,522 | 2,824 | 7,129 | 1,939 |
Effect of exchange rate movements on cash held | (9) | 302 | (48) | (73) |
Cash and cash equivalents at the end of the period | $ 7,129 | $ 8,604 | $ 2,824 | $ 4,522 |
Consolidated Statement of Chang
Consolidated Statement of Changes In Equity - USD ($) | Issued capital [member] | Share premium [member] | Reserve of exchange differences on translation [member] | Other reserves [member] | Retained earnings [member] | Non-controlling interests [member] | Total | ||
Balance (Increase (decrease) due to changes in accounting policy [member]) at Mar. 31, 2019 | $ 0 | $ 0 | $ 0 | $ 0 | $ 20,000 | $ 0 | $ 20,000 | ||
Balance at Mar. 31, 2019 | 163,000 | 40,215,000 | (2,177,000) | 19,846,000 | (34,062,000) | 0 | 23,985,000 | ||
Balance at Mar. 31, 2019 | 163,000 | 40,215,000 | (2,177,000) | 19,846,000 | (34,042,000) | 0 | 24,005,000 | ||
Statement Line Items [Line Items] | |||||||||
Total comprehensive loss for the year | 0 | 0 | (102,000) | 0 | (1,446,000) | 0 | (1,548,000) | ||
Equity instruments | 0 | 0 | 0 | (3,000) | 0 | 0 | (3,000) | ||
Disposal of treasury shares | 0 | 0 | 0 | 233,000 | (171,000) | 0 | 62,000 | ||
Total increase (decrease) in equity | 0 | 0 | (102,000) | 230,000 | (1,617,000) | 0 | (1,489,000) | ||
Loss for the year | (1,446,000) | ||||||||
Other comprehensive income/(expense) | (102,000) | ||||||||
Balance at Jun. 30, 2019 | 163,000 | 40,215,000 | (2,279,000) | 20,076,000 | (35,659,000) | 0 | 22,516,000 | ||
Statement Line Items [Line Items] | |||||||||
Total comprehensive loss for the year | 0 | 0 | (1,028,000) | 0 | (5,103,000) | 0 | (6,131,000) | ||
Equity instruments | 0 | 0 | 0 | 971,000 | 0 | 0 | 971,000 | ||
Total increase (decrease) in equity | 0 | 0 | (1,028,000) | 1,332,000 | (5,114,000) | 184,000 | (4,626,000) | ||
Other reserves | 0 | 0 | 0 | 17,000 | (11,000) | 0 | 6,000 | ||
Increase (decrease) through share-based payment transactions, equity | 0 | 0 | 0 | 344,000 | 0 | 0 | 344,000 | ||
Non-controlling interest | 0 | 0 | 0 | 0 | 0 | 184,000 | 184,000 | ||
Loss for the year | (5,103,000) | ||||||||
Other comprehensive income/(expense) | (1,028,000) | ||||||||
Employee share awards | 0 | 0 | 0 | 344,000 | 0 | 0 | 344,000 | ||
Balance at Jun. 30, 2020 | 163,000 | 40,215,000 | (3,307,000) | 21,408,000 | (40,773,000) | 184,000 | 17,890,000 | ||
Statement Line Items [Line Items] | |||||||||
Total comprehensive loss for the year | (6,357,000) | ||||||||
Equity instruments | 0 | 0 | 0 | (3,141,000) | 0 | 0 | (3,141,000) | ||
Increase (decrease) through share-based payment transactions, equity | 9,000 | [1] | 961,000 | [1] | 0 | 107,000 | 0 | 0 | 1,077,000 |
Loss for the year | 0 | 0 | 0 | 0 | (7,571,000) | (387,000) | (7,958,000) | ||
Other comprehensive income/(expense) | 0 | 0 | 1,842,000 | (241,000) | 0 | 0 | 1,601,000 | ||
Increase (decrease) in equity before transaction with owners in their capacity of owners | 163,000 | 40,215,000 | (1,465,000) | 21,167,000 | (48,344,000) | (203,000) | 11,533,000 | ||
Capital raises | 49,000 | [2] | 34,317,000 | [2] | 0 | (2,804,000) | 0 | 0 | 31,562,000 |
Other share issuances | 1,000 | 736,000 | 0 | (15,000) | 0 | 0 | 722,000 | ||
Employee share awards | 9,000 | [1] | 961,000 | [1] | 0 | 107,000 | 0 | 0 | 1,077,000 |
Non-controlling interest | 0 | 0 | 0 | 0 | (1,538,000) | 203,000 | (1,335,000) | ||
Increase (decrease) through transactions with owners, equity | 59,000 | 36,014,000 | 0 | (5,853,000) | (1,538,000) | 203,000 | 28,885,000 | ||
Balance at Jun. 30, 2021 | $ 222,000 | $ 76,229,000 | $ (1,465,000) | $ 15,314,000 | $ (49,882,000) | $ 0 | $ 40,418,000 | ||
[1] | 792,126 shares were issued to employees and directors of the Company and consultants to the Company under the Omnibus Incentive Plan during the year. | ||||||||
[2] | During the year, the Company completed a series of capital raises on NASDAQ. A total of 4,091,019 ordinary shares were issued, comprising 3,382,350 ordinary shares issued on October 19, 2020 as an underwritten public offering pursuant to an F-1 registration statement filed with the SEC on October 14, 2020, and 708,669 ordinary shares issued during June 2021, as at the market price (an ATM offering), pursuant to an F-3 registration statement filed with the SEC on December 21, 2020. |
Non-cash Investing and Financin
Non-cash Investing and Financing Transaction Comprise | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of cash flow statement [text block] | Non-cash investing and financing transactions during the year-ended June 30, 2021 ● 792,126 shares issued to Incentive Award participants at nominal value: $1.1 million; ● 15,793 shares issued as non-cash consideration for the acquisition of the non-controlling interest in Tembo: $0.2 million. ● Exchange of Aevitas convertible preference shares and convertible loan notes to Aevitas preference shares: $3.0 million. ● Conversion of Aevitas convertible preference shares and convertible loan notes to ordinary share capital in the Company : $20.5 million. |
Note 1 - Reporting Entity
Note 1 - Reporting Entity | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of notes and other explanatory information [text block] | 1. Reporting entity VivoPower International PLC (“VivoPower” or the “Company”) is a public company limited by shares and incorporated under the laws of England and Wales and domiciled in the United Kingdom. The address of the Company’s registered office is The Scalpel, 18th 52 EC3M 7AF, In July 2019, March 31 June 30, June 30, 2019. three June 30, 2019 March 31, 2019. June 30, 2019 The consolidated financial statements comprise the financial statements of the Company and its subsidiaries (together referred to as the ‘Group’ and individually as ‘Group entities’). As at June 30, 2021, no June 30, 2021, July 21, 2021 June 30, 2021 In prior periods, the ultimate controlling party and the results into which these financials were consolidated was AWN Holdings Limited, a company registered in Australia. |
Note 2 - Significant Accounting
Note 2 - Significant Accounting Policies | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of significant accounting policies [text block] | 2. Significant accounting policies The principal accounting policies applied in the preparation of these financial statements are set out below. These policies have been consistently applied to all periods presented, unless otherwise stated. 2.1 Basis of preparation VivoPower International PLC consolidated financial statements were prepared in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board, IFRIC interpretations and the Companies Act 2006 The preparation of financial statements with adopted IFRS requires the use of critical accounting estimates. It also requires the management to exercise judgement in the process of applying the Company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where the assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 3. The financial statements have been prepared on a going concern basis, as the directors believe the Company will be able to meet its liabilities as they fall due. As at June 30, 2021, June 30, 2020, June 30, 2019 March 31, 2019. 30 June 2021. Over the next twelve The Company estimates that the net additional funding requirement in the year ended June 30, 2022 The Directors believe these actions will provide sufficient cash to support business operations and meet obligations as they become due through September 2021. To ensure success of the business, the directors have prepared and reviewed additional plans to mitigate any cash flow risk that may twelve ● Regular re-forecasting process and flexing of opex and capex cost growth according to liquidity needs; ● Phased approach to hiring of personnel to sustain growth of the Tembo business; ● Obtaining COVID relief where available, e.g. Jobsaver COVID payroll subsidy in Australia; ● Staging the timing of property plant and equipment and software capex to match asset backed financing inflows; ● Obtain R&D grants in the U.K and Europe to help fund investment in electric, solar and battery technologies; ● Careful project planning and commercial structuring of SES projects; ● Possible sale, spin off, or distribution in specie of Caret, LLC; ● Staging the timing of equity raises to minimize dilution; and ● Renegotiation of terms on loans and supply chain. Based on the foregoing, the directors believe that the Company is well placed to manage its business risk successfully, despite some current economic and political uncertainty. The directors therefore have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, they have continued to adopt the going concern basis in preparing the financial statements. All financial information presented in US dollars has been rounded to the nearest thousand. 2.2 Basis of consolidation The consolidated financial statements include those of VivoPower International PLC and all of its subsidiary undertakings. Subsidiary undertakings are those entities controlled directly or indirectly by the Company. The Company controls an investee when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The results of the subsidiaries acquired are included in the Consolidated Statement of Comprehensive Income from the date of acquisition using the same accounting policies of those of the Group. All business combinations are accounted for using the purchase method. The consideration transferred in a business combination is the fair value at the acquisition date of the assets transferred and the liabilities incurred by the Group and includes the fair value of any contingent consideration arrangement. Acquisition-related costs are recognized in the income statement as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair value at the acquisition date. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies in line with those used by other members of the Group. All intra-group balances and transactions, including any unrealized income and expense arising from intra-group transactions, are eliminated in full in preparing the consolidated financial statements. Unrealized gains arising from transactions with equity accounted investees are eliminated against the investment to the extent of the Group’s interest in the investee. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no 2.3 Business combination The acquisition method of accounting is used to account for all business combinations, regardless of whether equity instruments or other assets are acquired. The consideration transferred for the acquisition of a subsidiary comprises the: ● fair values of the assets transferred ● liabilities incurred to the former owners of the acquired businesses ● equity interests issued by the Company ● fair value of any asset or liability resulting from a contingent consideration arrangement, and ● fair value of any pre-existing equity interest in the subsidiary. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are, with limited exceptions, measured initially at their fair values at the acquisition date. The Group recognizes any non-controlling interest in the acquired entity on an acquisition-by-acquisition basis either at fair value or at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets. Acquisition-related costs are expenses as incurred. The excess of the: ● consideration transferred ● amount of any non-controlling interest in the acquired entity, and ● acquisition-date fair value of any previous equity interest in the acquired entity over the fair value of the net identifiable assets acquired is recorded as goodwill. If those amounts are less than the fair value of the net identifiable assets of the business acquired, the difference is recognized directly in profit or loss as a bargain purchase. Where settlement of any part of cash consideration is deferred, the amounts payable in the future are discounted to their present value as at the date of exchange. The discount rate used is the entity’s incremental borrowing grate, being the rate at which a similar borrowing could be obtained from an independent financier under comparable terms and conditions. Contingent consideration is classified either as equity or a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value, with changes in fair value recognized in profit or loss. If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognized in profit or loss. 2.4 Intangible assets All intangible assets, except goodwill, are stated at fair value less accumulated amortization and any accumulated impairment losses. Goodwill is not Goodwill Goodwill arose on the effective acquisition of VivoPower Pty Ltd, Aevitas O Holdings Limited (“Aevitas”) and Tembo e-LV B.V. Goodwill is reviewed annually to test for impairment. Negative goodwill arose on the acquisition of the remaining 50% share in the ISS Joint Venture, constituting a bargain purchase. The gain was immediately recognized in the profit and loss. Other intangible assets Intangible assets acquired through a business combination are initially measured at fair value and then amortized over their useful economic lives. Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. Development expenditure includes the product development project for ruggedized electric vehicles in Tembo, pre-series-production expenditure on developing vehicle specifications and production processes. Capitalized costs include primarily internal payroll costs and external consultants. Development expenditure on U.S. solar projects includes securing land rights, completing feasibility studies, negotiating power purchase agreements, and other costs incurred to prepare project sales for Notice to Proceed with construction and hence sale to a partner as a shovel ready project. For both electric vehicles product development project, and U.S. solar development projects, it is the Company’s intention to complete the projects, it expects to obtain adequate technical, financial and other resources to complete the projects, and management consider that it is probable for the future economic benefits attributable to the development expenditure to flow to the entity; and that the cost of the asset can be measured reliably. Accordingly, the development expenditure is recognized under IAS 38 All other expenditure, including expenditure on internally generated goodwill and brands, and research costs, are recognized in profit or loss as incurred. Amortization is calculated on a straight-line basis to write down the assets over their useful economic lives at the following rates: ● Development expenditure - 5 to 10 years ● Customer relationships – 5 -10 years ● Trade names – 15 to 25 years ● Favorable supply contracts – 15 years ● Other – 5 years 2.5 Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and any accumulated impairment losses. The cost of an item of property, plant and equipment comprises its purchase price and the costs directly attributable to bringing the asset into use. When parts of an item of property, plant and equipment have different useful lives, they are accounted as separate items (major components) of property, plant and equipment. Depreciation is calculated on a straight-line basis so as to write down the assets to their estimated residual value over their useful economic lives at the following rates: ● Computer equipment - 3 years ● Fixtures and fittings - 3 to 20 years ● Motor vehicles - 5 years ● Plant and equipment – 3.5 to 10 years ● Right-of-use assets – remaining term of lease 2.6 Assets classified as held for sale Assets are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. They are measured at the lower of their carrying value and fair value less costs to sell. An impairment loss is recognized for any subsequent write-down of the asset to fair value less costs to sell. 2.7 Inventory Inventories are stated at the lower of cost and net realizable value, in accordance with IAS 2 2.8 Leases The Group leases offices, workshops, motor vehicles, and equipment for fixed periods of 2 6 may not Contracts may not Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not may not Until March 31, 2019, April 1, 2019, 16 Assets and liabilities arising from a lease are initially measured on a present value basis, with lease payments discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, the Group’s incremental borrowing rate is used. The Group presents lease liabilities in loans and borrowings in the Statement of Financial Position. Lease payments are allocated between principal and finance cost. The finance cost is charged to the Statement of Comprehensive Income over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Right-of-use assets are presented in property, plant and equipment and depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. Prior to April 1, 2019, 2.9 Impairment of non-financial assets Goodwill is allocated to cash-generating units for the purposes of impairment testing. The recoverable amount of the cash-generating unit (‘CGU’) to which the goodwill relates is tested annually for impairment or when events or changes to circumstances indicate that it might be impaired. The carrying values of property, plant and equipment, investments and intangible assets other than goodwill are reviewed for impairment only when events indicate the carrying value may In an impairment test the recoverable amount of the cash-generating unit or asset is estimated in order to determine the existence or extent of any impairment loss. The recoverable amount is the higher of fair value less costs to sell and the value in use to the Group. An impairment loss is recognized to the extent that the carrying value exceeds the recoverable amount. In determining a cash-generating unit’s or asset’s value in use, estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time-value of money and risks specific to the cash-generating unit or asset that have not An impairment loss in respect of goodwill is not no not no 2.10 Financial instruments Financial assets and liabilities are recognized in the Group’s Statement of Financial Position when the Group becomes a party to the contracted provision of the instrument. The following policies for financial instruments have been applied in the preparation of the consolidated financial statements. From April 1, 2018, • those to be measured subsequently at fair value through profit or loss; and, • those to be measured at amortized cost. The classification depends on the business model for managing the financial assets and the contractual terms of the cash flows. Financial assets are classified as at amortized cost only if both of the following criteria are met: • the asset is held within a business model whose objective is to collect contractual cash flows; and, • the contractual terms give rise to cash flows that are solely payments of principal and interest. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: • in the principal market for the asset or liability; or, • in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible by the Group. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: Level 1 Level 2 Level 3 Cash and cash equivalents For the purpose of preparation of the Statement of Cash Flow, cash and cash equivalents includes cash at bank and in hand. Restricted cash Restricted cash are cash and cash equivalents whose availability for use within the Group is subject to certain restrictions by third Bank borrowings Interest-bearing bank loans are recorded at the proceeds received. Direct issue costs paid on the establishment of loan facilities are recognized over the term of the loan on a straight-line basis. The initial payment is taken to the Statement of Financial Position and then amortized over the full-length of the facility. Trade and other receivables Trade and other receivables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method, less any allowance for the expected future issue of credit notes and for non-recoverability due to credit risk. The Group applies the IFRS 9 Trade and other payables Trade and other payables are non-interest bearing and are stated at amortized cost using the effective interest method. Share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognized as a deduction from equity, net of any tax effects. Repurchase of share capital (treasury shares) When share capital recognized as equity is repurchased as equity by the Company the amount of the consideration paid, which includes directly attributable costs, net of any tax effects, is recognized as a deduction from equity, and excluded from the number of shares in issue when calculating earnings per share. 2.11 Taxation Income tax expense comprises current and deferred tax. Current tax is recognized based on the amounts expected to be paid or recovered under the tax rates and laws that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is provided on temporary timing differences that arise between the carrying amounts of assets and liabilities for financial reporting purposes and their corresponding tax values. Liabilities are recorded on all temporary differences except in respect of initial recognition of goodwill and in respect of investments in subsidiaries where the timing of the reversal of the temporary difference is controlled by the Group and it is probable that it will not Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax assets and liabilities, they relate to income taxes levied by the same tax authority and the Group intends to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously. Current and deferred tax are recognized in the Statement of Comprehensive Income, except when the tax relates to items charged or credited directly to equity, in which case it is dealt with directly in equity. 2.12 Provisions Provisions are recognized when the Group has a present obligation because of a past event, it is probable that the Group will be required to settle that obligation, and it can be measured reliably. Provisions are measured at the directors’ best estimate of the expenditure required to settle the obligation at the date of Statement of Financial Position. Where the time value of money is material, provisions are measured at the present value of expenditures expected to be paid in settlement. 2.13 Earnings per share The Group presents basic and diluted earnings per share (“EPS”) data for ordinary shares. Basic EPS is calculated by dividing the profit or loss attributable to ordinary shareholders of the Company by the weighted average number of ordinary shares, excluding the shares held as treasury shares. Currently there are no 2.14 Foreign currencies The Company’s functional and presentational currency is the US dollar. Items included in the separate financial statements of each Group entity are measured in the functional currency of that entity. Transactions denominated in foreign currencies are translated into the functional currency of the entity at the rates of exchange prevailing at the dates of the individual transactions. Foreign currency monetary assets and liabilities are translated at the rates of exchange prevailing at the end of the reporting period. Exchange gains and losses arising are charged to the Statement of Comprehensive Income within finance income or expenses. The Statement of Comprehensive Income and Statement of Financial Position of foreign entities are translated into US dollars on consolidation at the average rates for the period and the rates prevailing at the end of the reporting period respectively. Exchange gains and losses arising on the translation of the Group’s net investment foreign entities are recognized as a separate component of shareholders’ equity. Foreign currency denominated share capital and related share premium and reserve accounts are recorded at the historical exchange rate at the time the shares were issued, or the equity created. 2.15 Revenue from contracts with customers Revenue comprises the fair value of the consideration received or receivable for the sale of services in the ordinary course of the Group’s activities. Revenue is shown net of discounts, value-added tax, other sales related taxes, and after the elimination of sales within the Group. Revenue comprises development revenues, electrical installations, electrical servicing and maintenance, generator sales, vehicle spec conversion and conversion kits. Revenue is recognized upon satisfaction of contractual performance obligations. The Company adopted IFRS 15 The Group has a number of different revenue streams and the key components in determining the correct recognition are as follows: Development revenue, which is revenue generated from development services relating to the building and construction of solar projects, is recognized on a percentage completion basis as the value is accrued by the end user over the life of the contract. The periodic recognition is calculated through weekly project progress reports. On longer-term power services projects such as large-scale equipment provision and installation, the performance obligation of completing the installation is satisfied over time, and revenue is recognized on a percentage completion basis using an input method. Revenue for stand-alone equipment sales is recognized at the point of passing control of the asset to the customer. Other revenue for small jobs and those completed in a limited timeframe are recognized when the job is complete and accepted by the customer. Revenue for sale of electric vehicles, kits for electric vehicles and related products is recognized upon delivery to the customer. Where distribution agreements are agreed with external parties to participate in the assembly of vehicles, revenue recognition will be assessed under IFRS 15 Warranties are of short duration and only cover defective workmanship and defective materials. No No one If the revenue recognized for goods and services rendered by the Company exceeds amounts that the Company is entitled to bill the customer, a contract asset is recognized. If amounts billed exceed the revenue recognized for goods and services rendered, a contract liability is recognized. Incremental costs of obtaining a contract are expensed as incurred. 2.16 Other income Other income in relation to government grants, is recognized in the period that the related costs, for which the grants are intended to compensate, are expensed. 2.17 Employee benefits Pension The employer pension contributions are associated with defined contribution schemes. The costs are therefore recognized in the month in which the contribution is incurred, which is consistent with recognition of payroll expenses. Short-term benefits Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognized for the amount expected to be paid under short-term cash bonus or profit-sharing plans if the Group has a present legal or constructive obligation to pay this amount because of past service provided by the employee and the obligation can be reliably measured. Short-term compensated absences A liability for short-term compensated absences, such as holidays, is recognized for the amount the Group may Share based payments Shares issued to employees and other participants under the Omnibus Incentive Plan 2017 2. 2.18 Restructuring and other non-recurring costs Restructuring and other non-recurring costs are by nature one not 1 37 Other non-recurring costs include litigation expenses for former employees, including fees for legal services and provisions under IAS 37 Other non-recurring costs also include legal and professional costs for project review and investigation detailed review and sales campaign for solar projects managed by the ISS Joint Venture partner. Other non-recurring costs also include one 2.19 New standards, amendments and interpretations The following accounting standards and their amendments were adopted during the financial year. International Accounting Standards Effective date IAS 1 8 1 January 2020 Various amendments to references to conceptual framework. 1 January 2020 International Financial Reporting Standards Effective date IFRS 3 1 January 2020 The adoption of these policies has had no The following accounting standards and their amendments were in issue at the year-end but will not International Accounting Standards (amendments) Effective date* IAS 1 1 January 2023 IAS 1 1 January 2023 IAS 8 1 January 2023 IAS 37 1 January 2022 IAS 16 1 January 2022 IFRS 3 1 January 2022 IFRS 2018 20 2018 2020 1 January 2022 *Years beginning on or after The Directors do not |
Note 3 - Significant Accounting
Note 3 - Significant Accounting Judgements and Estimates | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of accounting judgements and estimates [text block] | 3. Significant accounting judgements and estimates In preparing the consolidated financial statements, the directors are required to make judgements in applying the Group’s accounting policies and in making estimates and making assumptions about the future. These estimates could have a significant risk of causing a material adjustment to the carrying value of assets and liabilities in the future financial periods. The critical judgements that have been made in arriving at the amounts recognized in the consolidated financial statements are discussed below. 3.1 Revenue from contracts with customers determining the timing of satisfaction of services As disclosed in Note 2.15 3.2 Impairment of non-financial assets The carrying values of property, plant and equipment, investments and intangible assets other than goodwill are reviewed for impairment only when events indicate the carrying value may Impairment assessments require the use of estimates and assumptions. To assess impairment, estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time-value of money and risks specific to the related cash-generating unit. Judgement was applied in making estimates and assumptions about the future cash flows, including the appropriateness of discounts rates applied and operating performance (which includes production and sales volumes), as further disclosed in Note 14. may 3.3 Operating profit/(loss) In preparing the consolidated financial statements of the Group, judgement was applied with respect to those items which are presented in the Consolidated Statement of Comprehensive Income as included within operating profit/(loss). Those revenues and expenses which are determined to be specifically related to the on-going operating activities of the business are included within operating profit/(loss). Expenses or charges to earnings which are not one not 3.4 Litigation provision The provision of $0.48 million for disputed legal success fees related to the Mr. Comberg litigation recorded at June 30, 2021 3.5 Income taxes In recognizing income tax assets and liabilities, management makes estimates of the likely outcome of decisions by tax authorities on transactions and events whose treatment for tax purposes is uncertain. Where the outcome of such matters is different, or expected to be different, from previous assessments made by management, a change to the carrying value of the income tax assets and liabilities will be recorded in the period in which such determination is made. The carrying values of income tax assets and liabilities are disclosed separately in the Consolidated Statement of Financial Position. 3.6 Deferred tax assets Deferred tax assets for unused tax losses amounting to $1.9 million at June 30, 2021 ( June 30, 2020: - June 30, 2019: March 31, 2019: 3.7 Share option reserve As part of the Initial Public Offering Listing, VivoPower issued an amended and restated unit purchase option (UPO) replacing the options issued by Arowana Inc. The options are viewed as a share-based award granted to Early Bird Capital. The cost of the award is recognized directly in equity and is applied against capital raising costs. As the option holder has the right to receive shares in the Company, the share-based payment transaction would be equity settled. The fair value of the options was determined at the grant date, using the Black Scholes Model, and not no June 30, 2020. 3.8 Exchangeable preference shares and exchangeable notes As part of the IPO listing process VivoPower acquired Aevitas. The instruments previously issued by Aevitas were restructured to become exchangeable into VivoPower shares. The Company considered IAS 32 16 3.9 Fair value measurement The fair values of financial assets and liabilities recorded in the statement of financial position are measured using valuation techniques including discounted cash flow (DCF) models. The inputs to these models are taken from observable markets where possible, but where this is not 12. |
Note 4 - Revenue and Segmental
Note 4 - Revenue and Segmental Information | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of entity's operating segments [text block] | 4 Revenue and segmental information The Group determines and presents operating segments based on the information that is provided internally to the Board of Directors, which is the Group’s chief operating decision maker. Management analyzes our business in five 12 No An operating segment is a component of the Group that engages in business activities from which it may Segment results that are reported to the Board of Directors include items directly attributable to a segment as well as those that can be allocated to a segment on a reasonable basis. 4.1 Revenue Revenue by geographic location is as follows: Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Australia 39,018 47,983 13,507 37,889 United States - - 110 1,147 Netherlands 1,393 - - - United Kingdom - 3 - - Total revenue 40,411 47,986 13,617 39,036 Revenue by product and service is as follows: Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Electrical products and related services 38,832 47,917 13,484 37,799 Development fees 185 69 - 90 Conversion kits 137 - - - Vehicle spec conversion 1,219 - - - Accessories 38 - - - Other revenue - - 133 1,147 Total revenue 40,411 47,986 13,617 39,036 The Group did not 10% June 30, 2021 ( June 30, 2020: one three June 30, 2019: one March 31, 2019: one 4.2 Operating segments a) Segment results of operations Results of operations by reportable segment are as follows: Year Ended June 30, 2021 Critical Power Services Solar Electric Vehicles Corporate Office Total (US dollars in thousands) Revenue from contracts with customers 38,832 185 1,394 - 40,411 Costs of sales (32,792 ) - (1,292 ) - (34,084 ) Gross profit 6,040 185 102 - 6,327 General and administrative expenses (3,004 ) (1,309 ) (1,923 ) (4,897 ) (11,133 ) Gain on solar development - net 36 733 - - 769 Other income 1,511 - - - 1,511 Depreciation and amortization (1,902 ) (4 ) (346 ) (4 ) (2,256 ) Operating profit/(loss) 2,681 (395 ) (2,167 ) (4,901 ) (4,782 ) Restructuring and other non-recurring costs (27 ) - (631 ) (2,222 ) (2,880 ) Finance income 2,163 - 10 6 2,179 Finance expense (476 ) (24 ) (11 ) (2,079 ) (2,590 ) Profit/(loss) before income tax 4,341 (419 ) (2,799 ) (9,196 ) (8,073 ) Income tax (714 ) 96 733 - 115 Profit/(loss) for the period 3,627 (323 ) (2,066 ) (9,196 ) (7,958 ) Year Ended June 30, 2020 Critical Power Services Solar Electric Vehicles Corporate Office Total (US dollars in thousands) Revenue from contracts with customers 47,914 69 - 3 47,986 Costs of sales (40,865 ) (20 ) - - (40,885 ) Gross profit 7,049 49 - 3 7,101 General and administrative expenses (2,745 ) (469 ) - (2,265 ) (5,479 ) Gain on solar development - net 41 1,548 - - 1,589 Other income 724 - - - 724 Depreciation and amortization (1,718 ) (45 ) - (3 ) (1,766 ) Operating profit/(loss) 3,351 1,083 - (2,265 ) 2,169 Restructuring and other non-recurring costs (124 ) (1,296 ) - (1,990 ) (3,410 ) Finance expense – net (1,436 ) (9 ) - (1,704 ) (3,149 ) Profit/(loss) before income tax 1,791 (222 ) - (5,959 ) (4,390 ) Income tax 15 (728 ) - - (713 ) Profit/(loss) for the period 1,806 (950 ) - (5,959 ) (5,103 ) Three Months Ended June 30, 2019 Critical Power Services Solar Electric Vehicles Corporate Office Total (US dollars in thousands) Revenue from contracts with customers 13,484 133 - - 13,617 Costs of sales (11,864 ) (96 ) - - (11,960 ) Gross profit 1,620 37 - - 1,657 General and administrative expenses (567 ) (206 ) - (518 ) (1,291 ) Gain/(loss) on solar development - net 5 41 - (8 ) 38 Depreciation and amortization (422 ) (14 ) - (1 ) (437 ) Operating profit/(loss) 636 (142 ) - (527 ) (33 ) Restructuring and other non-recurring costs (15 ) (39 ) - (471 ) (525 ) Finance expense – net (358 ) (49 ) - (389 ) (796 ) Profit/(loss) before income tax 263 (230 ) - (1,387 ) (1,354 ) Income tax (92 ) - - - (92 ) Profit/(loss) for the period 171 (230 ) - (1,387 ) (1,446 ) Year Ended March 31, 2019 Critical Power Services Solar Development Electric Vehicles Corporate Office Total (US dollars in thousands) Revenue from contracts with customers 37,800 1,236 - - 39,036 Costs of sales (32,317 ) (409 ) - - (32,726 ) Gross profit 5,483 827 - - 6,310 General and administrative expenses (2,823 ) (2,148 ) - (2,714 ) (7,685 ) Gain/(loss) on Solar Development (30 ) (2,585 ) - - (2,615 ) Depreciation and amortization (1,272 ) (140 ) - (8 ) (1,420 ) Operating profit/(loss) 1,358 (4,043 ) - (2,722 ) (5,410 ) Restructuring and other non-recurring costs (8 ) 7 - (2,016 ) (2,017 ) Finance expense – net (1,354 ) (221 ) - (1,664 ) (3,239 ) Profit/(loss) before income tax (4 ) (4,260 ) - (6,402 ) (10,666 ) Income tax (572 ) 15 - - (557 ) Profit/(loss) for the period (576 ) (4,245 ) - (6,402 ) (11,223 ) b) Segment net assets Net assets by reportable segment are as follows: As at June 30, 2021 (US dollars in thousands) Critical Power Services Solar Development Electric Vehicles Corporate Office Total Assets 35,604 24,693 9,027 7,188 76,512 Liabilities (9,442 ) (767 ) (2,093 ) (23,792 ) (36,094 ) Net assets/(liabilities) 26,162 23,926 6,934 (16,604 ) 40,418 As at June 30, 2020 (US dollars in thousands) Critical Power Services Solar Development Electric Vehicles Corporate Office Total Assets 38,519 22,965 - 896 62,380 Liabilities (14,481 ) (1,697 ) - (28,312 ) (44,490 ) Net assets/(liabilities) 24,038 21,268 - (27,416 ) 17,890 As at June 30, 2019 (US dollars in thousands) Critical Power Services Solar Development Electric Vehicles Corporate Office Total Assets 45,881 26,534 - 694 73,109 Liabilities (21,171 ) (5,766 ) - (23,656 ) (50,593 ) Net assets/(liabilities) 24,710 20,768 - (22,962 ) 22,516 As at March 31, 2019 (US dollars in thousands) Critical Power Services Solar Development Electric Vehicles Corporate Office Total Assets 35,472 29,538 - 385 65,395 Liabilities (13,603 ) (6,085 ) - (21,722 ) (41,410 ) Net assets/(liabilities) 21,869 23,453 - (21,337 ) 23,985 |
Note 5 - Gain (Loss) on SES Dev
Note 5 - Gain (Loss) on SES Development | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of gain (loss) on sale of assets [text block] | 5. Gain/(loss) on Solar Development Year Ended June 30 Three Months ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 VivoRex contract obligations - 2,768 - (1,902 ) Australia solar projects (165 ) 496 - (247 ) ISS Joint Venture - 50% share of discontinued projects (6,950 ) (1,675 ) - (868 ) NC Projects sale - - - 402 Gain on acquisition of remaining 50% ISV from ISS 7,848 - - - Other gains 36 - 38 - Total gain/(loss) on Solar Development 769 1,589 38 (2,615 ) The Company recorded a net loss for solar projects in Australia, related primarily to the sale of its 50% interest in the Yoogali Solar Farm on June 1, 2021. The Company recorded a loss of $7.0 million in respect of its share of discontinued Solar Development projects in the joint venture, Caret, LLC (formerly Innovative Solar Ventures I, LLC) (“ISS Joint Venture”), prior to acquisition of the remaining 50% June 30, 2021. On June 30, 2021, 12.b, On July 2, 2019, 4.2, June 30, 2020 $nil three June 30, 2019: March 31, 2019: 2018: The Company also recorded a gain on sale of $0.5 million for Solar projects in Australia, related primarily to the sale of its 100% interest in the Sun Connect portfolio, in October 2019. 4.2. The Company also recorded a $1.7 million loss on discontinued Solar Development projects in the ISS Joint Venture. The loss on Solar Development for the year-ended March 31, 2019, On May 25, 2018, 31 47 |
Note 6 - Other Income
Note 6 - Other Income | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of other operating income [text block] | 6. Other income The Australian government’s Jobkeeper allowance helped keep Australian citizens in jobs and supported businesses affected by the significant economic impact of the COVID- 19 no not 2020 30 June 2020 |
Note 7 - Operating Profit (Loss
Note 7 - Operating Profit (Loss) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of operating (loss) profit [text block] | 7. Operating profit/(loss) Operating profit/(loss) is stated after charging/(crediting): Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Amortization of intangible assets 1,167 868 223 990 Depreciation of property, plant and equipment 1,089 898 214 430 Operating lease costs – land and buildings - - - 548 Operating lease costs – motor vehicles - - - 65 Operating lease costs – other equipment - - - 33 Gain on foreign exchange 2,179 33 - - Auditors’ remuneration – audit fees 163 161 97 253 Auditors’ remuneration – audit related services - - - 26 Auditors’ remuneration – tax services 12 11 - 28 Directors’ emoluments 676 398 104 611 Loss/(gain) on disposal of solar development (769 ) (1,589 ) (38 ) 2,615 |
Note 8 - Restructuring and Othe
Note 8 - Restructuring and Other Non-recurring Costs | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of restructuring costs [text block] | 8. Restructuring and other non-recurring costs Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Corporate restructuring – workforce reduction - 163 - 102 Corporate restructuring – litigation 2,042 1,104 - - Corporate restructuring – professional fees 179 1,031 518 1,776 Project review and investigation costs - 1,112 7 139 Relocation costs 27 - - - Acquisition of subsidiaries - related costs 632 - - - Total 2,880 3,410 525 2,017 Restructuring and other non-recurring costs by nature are one not During a prior fiscal period, the Board undertook a strategic restructuring of the business to align operations, personnel, and business development activities to focus on a fewer number of areas of activity. Associated with this restructuring was the departure of a number of employees and contractors from the business. The workforce reduction cost represents the total salary, benefit, severance, and contract costs paid in the year or accruing to these individuals in the future for which no not In the year ended June 30, 2021, November 2020. |
Note 9 - Staff Numbers and Cost
Note 9 - Staff Numbers and Costs | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of employee benefits [text block] | 9. Staff numbers and costs The average number of employees (including directors) during the period was: Year Ended June 30 Three Months Ended June 30 Year Ended March 31 2021 2020 2019 2019 Sales and Business Development 13 11 9 9 Central Services and Management 35 27 31 32 Production 164 171 139 138 Total 212 209 179 179 Their aggregate remuneration costs comprised: Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Salaries, wages and incentives 14,550 13,565 3,310 14,327 Social security costs 795 803 213 1,044 Pension contributions 850 792 185 788 Short-term compensated absences 1,200 1,296 406 1,254 Total 17,395 16,456 4,114 17,413 Directors’ emoluments for the year ended June 30, 2021 $675,806 June 30, 2020: $536,979; three June 30, 2019: $103,925; March 31, 2019: $611,450 June 30, 2020: $205,673; three June 30, 2019: $62,136; March 31, 2019: $254,084 Key Management Personnel: Year ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Salaries, wages and incentives 1,949 1,009 388 2,354 Social security costs 101 79 28 176 Pension contributions 64 36 13 45 Equity incentives 244 111 27 130 Short-term compensated absences 2 - - - Total 2,361 1,235 456 2,705 Key management personnel are those below the Board level that have a significant impact on the operations of the business. The number of key management personnel, including directors for the year ended June 30, 2021 June 30, 2020: 7; three June 30, 2019: 10; March 31, 2019: 10; |
Note 10 - Finance Income and Ex
Note 10 - Finance Income and Expense | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of finance income (cost) [text block] | 10. Finance income and expense Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Finance income Foreign exchange gains 2,179 33 - - Interest received - - - 4 Total finance income 2,179 33 - 4 Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Finance expense Related party loan interest payable 1,986 1,653 387 1,588 Convertible loan notes and preference shares interest payable 1,228 1,185 307 1,284 Waived dividends and interest on convertible preference shares and loan notes (995 ) - - - Financing agreement finance cost payable - - - 206 Debtor invoice finance cost payable 97 174 51 164 Lease liabilities interest payable 92 95 22 1 Bank interest payable - - 6 - Provisions – unwinding of discount - - 42 - Foreign exchange losses 92 - (19 ) - Other finance costs 90 75 - - Total finance expense 2,590 3,182 796 3,243 Interest paid in the year of $5.3 million includes $2.2 million of accrued interest on Aevitas convertible preference shares and convertible loan notes from prior periods. |
Note 11 - Taxation
Note 11 - Taxation | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of income tax [text block] | 11. Taxation (a) Tax (charge)/credit Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Current tax U.K. corporation tax - - - 29 Foreign tax (848 ) 53 (162 ) (217 ) Total current tax (848 ) 53 (162 ) (188 ) Deferred tax Current year U.K. tax (51 ) (202 ) - 267 Foreign tax 1,014 (564 ) 70 (636 ) Total deferred tax 963 (766 ) 70 (369 ) Total income tax 115 (713 ) (92 ) (557 ) The difference between the total tax charge and the amount calculated by applying the weighted average corporation tax rates applicable to each of the tax jurisdictions in which the Group operates to the profit before tax is shown below. Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Loss before income tax (8,073 ) (4,390 ) (1,354 ) (10,666 ) Group weighted average corporation tax rate 22.2 % 24.6 % 22.0 % 21.8 % Tax at standard rate 1,789 1,080 297 2,325 Effects of: Expenses that are not deductible for tax purposes (833 ) (106 ) (49 ) 41 Adjustment to prior year tax provisions. assets 137 - - (64 ) Deferred tax assets not recognized on tax losses (978 ) (1,687 ) (340 ) (2,859 ) Total income tax for the period Recognized in the Consolidated Statement of Comprehensive Income 115 (713 ) (92 ) (557 ) (b) Deferred tax As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Deferred tax assets 2,495 1,347 2,113 2,054 Deferred tax liabilities (411 ) - (1 ) (1 ) Net deferred tax asset 2,084 1,347 2,112 2,053 The deferred tax assets are analyzed as follows: Deferred tax assets Tax losses Other timing differences Total March 31, 2019 1,005 1,049 2,054 Credit to comprehensive income - 59 59 June 30, 2019 1,005 1,108 2,113 Charged to comprehensive income (191 ) (575 ) (766 ) June 30, 2020 814 533 1,347 Credit to comprehensive income 776 109 885 Acquisitions 263 - 263 June 30, 2021 1,853 642 2,495 The deferred tax assets are analyzed as follows: Deferred tax liabilities Accelerated allowances Other timing differences Total June 30, 2019 (1 ) - (1 ) Credit to comprehensive income 1 - 1 June 30, 2020 - - - Credit to comprehensive income - 78 78 Acquisitions of subsidiary (Note 12) - (489 ) (489 ) June 30, 2021 - (411 ) (411 ) Deferred tax has been recognized in the current period using the tax rates applicable to each of the tax jurisdictions in which the Group operates. Deferred tax assets and liabilities are offset when there is a legally enforceable right to set off current tax assets against current tax liabilities. |
Note 12 - Business Combination
Note 12 - Business Combination | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of business combinations [text block] | 12. Business Combination (a) Tembo e-LV On November 5, 2020, February 2, 2021. Purchase consideration (Amounts in thousands) EUR USD Cash consideration for 51% acquisition 4,000 4,916 The fair value of the identifiable assets and liabilities recognized, as a result of the acquisition, are as follows: (Amounts in thousands) EUR USD Cash and cash equivalents 4,021 4,942 Trade and other receivables 100 123 Inventory 594 730 Property, plant and equipment (Note 13) 167 206 Deferred tax asset (Note 11) 214 263 Trade and other payables (541 ) (665 ) Related party payable (1,024 ) (1,259 ) Other non-current liabilities (181 ) (222 ) Deferred income (578 ) (711 ) Deferred tax liability (Note 11) (398 ) (489 ) Remediation provision (282 ) (336 ) Fair value of identifiable net assets acquired 2,092 2,582 Non -controlling interests (49%) (1,025 ) (1,260 ) Net assets acquired 1,067 1,322 Cash consideration for 51% acquisition 4,000 4,916 Surplus on acquisition: 2,933 3,594 Allocated of surplus: Goodwill (Note 14a) 1,340 1,698 Other intangible assets (Note 14b) 1,593 1,896 2,933 3,594 Acquisition of Non-controlling interest: EUR USD Cash paid 1,800 2,173 Ordinary shares issued 197 237 Total consideration for non-controlling interest 1,997 2,410 Non-controlling interest acquired: At acquisition (1,025 ) (1,259 ) Loss attributable to non-controlling interest 319 387 At date of acquisition of non-controlling interest (706 ) (873 ) Surplus on acquisition of non-controlling interests 1,291 1,538 Purchase consideration - cash outflow (Amounts in thousands) EUR USD Outflow of cash to acquire subsidiary, net of cash acquired Cash consideration - 51% 4,000 4,916 Cash consideration - 49% 1,800 2,173 Less: Balances acquired Cash 4,021 4,942 Net outflow of cash - investing activities 1,779 2,147 Acquisition-related costs of $0.6 million that were not Goodwill represents the value of gaining immediate access to an established business in the Electric Vehicles market, including the skilled workforce, which are not not 38. None Intangible assets acquired comprise $1.5 million customer contracts and $0.4 million of trade names, based on a purchase price allocation performed by management. Customer contracts are valued in years 1-5 include revenue from acquired customer relationships representing 25% of total revenue, average attrition rate 25% per annum, average EBIT 3.7%, weighted average cost of capital 13.0%. Trade names are valued using a relief from royalty method of the income valuation approach over a 6-year life based on a 5% industry average royalty rate. The Company recognizes non-controlling interests in an acquired entity at the non-controlling interests' proportionate share of the acquired entity's identifiable net assets. The non-controlling interest representing 49% of the ordinary issued share capital, comprising $1.3 million at acquisition, less $0.4 million loss recorded in the profit and loss account between November 5, 2020 February 2, 2021, February 2, 2021, The remediation provision recognized was a present obligation of Tembo e-LV immediately prior to the business combination. The execution of the remediation was not From the date of acquisition, Tembo contributed $1.4 million of revenue and $2.8 million of loss before tax from continuing operations. If the acquisition had taken place at the beginning of the year, Group revenue from continuing operations would have been $41.1 million and loss before tax from continuing operations would have been $8.3 million. (b) ISS Joint Venture On June 30, 2021, $1, 50% Fair value of net assets acquired included capitalized project expenses and were recorded at fair value. The acquisition resulted in a bargain purchase of $7.8 million as a result of the litigation settlement and is recognized in the Statement of Comprehensive Income within gain/loss on Solar Development as set out Note 5. (US dollars in thousands) Purchase consideration Cash - Fair value of pre-acquisition equity interest 5,393 Total consideration 5,393 Less: Fair value of acquired net assets: Cash 2 Deposits 990 Capitalized project development expenses (Note 14b) 12,249 13,241 Gain on bargain purchase - included in gain/(loss) on SES development (Note 5) 7,848 No revenue or profit or loss has been recognized since the acquisition date. The net cash flow resulting from the acquisition was $ nil. |
Note 13 - Property, Plant and E
Note 13 - Property, Plant and Equipment | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of property, plant and equipment [text block] | 13. Property, plant and equipment (US dollars in thousands) Computer Equipment Motor Vehicles Plant and Equipment Fixtures and Fittings Right-of- Use Assets Total Cost At March 31, 2019 543 1,629 1,029 176 - 3,377 Change in accounting policy (Note 2.18) - (371 ) - - 2,152 1,781 Restated at April 1, 2019 543 1,258 1,029 176 2,152 5,158 Foreign exchange (5 ) (13 ) (11 ) (2 ) (20 ) (51 ) Additions 7 45 222 16 110 400 Disposals - (8 ) - - - (8 ) At June 30, 2019 545 1,282 1,240 190 2,242 5,499 Foreign exchange (11 ) (26 ) (26 ) (4 ) (46 ) (113 ) Additions 36 359 189 9 570 1,163 Disposals (94 ) (252 ) (171 ) - (483 ) (1,000 ) At June 30, 2020 476 1,363 1,232 195 2,283 5,549 Foreign exchange 41 145 26 18 196 426 Additions 125 230 395 6 182 938 Acquisitions from business combinations - 4 114 - 88 206 Disposals (80 ) (174 ) (156 ) (97 ) (58 ) (565 ) At June 30, 2021 562 1,568 1,611 122 2,691 6,554 Depreciation Computer Equipment Motor Vehicles Plant and Equipment Fixtures and Fittings Right-of- use Assets Total At March 31, 2019 380 1,079 645 68 - 2,172 Change in accounting policy (Note 2.18) - (123 ) - - 318 195 Restated at April 1, 2019 380 956 645 68 318 2,367 Foreign exchange (3 ) (12 ) (7 ) - (3 ) (25 ) Charge for the period 27 1 17 6 163 214 Disposals - (8 ) - - - (8 ) At June 30, 2019 404 937 655 74 478 2,548 Foreign exchange (7 ) (15 ) (11 ) (1 ) (3 ) (37 ) Charge for the period 55 171 107 13 552 898 Disposals (79 ) (257 ) (4 ) - (16 ) (346 ) At June 30, 2020 373 836 747 86 1,021 3,063 Foreign exchange 31 85 70 8 77 271 Charge for the period 66 206 167 8 642 1,089 Disposals (71 ) (157 ) (112 ) (46 ) (58 ) (444 ) At June 30, 2021 399 970 872 56 1,682 3,979 Net book value Computer Equipment Motor Vehicles Plant and Equipment Fixtures and Fittings Right-of- use Assets Total At March 31, 2019 163 550 383 108 - 1,205 At June 30, 2019 141 344 585 116 1,764 2,951 At June 30, 2020 103 527 485 109 1,262 2,486 At June 30, 2021 163 598 739 66 1,009 2,575 |
Note 14 - Intangible Assets
Note 14 - Intangible Assets | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of intangible assets and goodwill [text block] | 14. Intangible assets As at June 30 Year ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Goodwill 25,794 21,919 22,387 22,622 Other intangible assets 21,655 7,930 9,375 9,744 Total 47,449 29,849 31,762 32,366 a) Goodwill Goodwill As at June 30 Year ended March 31 (US dollars in thousands) 2021 2020 2019 2019 As at July 1 / April 1 21,919 22,387 22,622 24,482 Goodwill on acquisition of Tembo 1,698 - - - Foreign exchange 2,177 (468 ) (235 ) (1,860 ) Carrying value 25,794 21,919 22,387 22,622 The carrying amounts of goodwill by Cash Generating Unit (“CGU”) are as follows: As at June 30 Year ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Aevitas O Holdings Limited (allocated to the Critical Power Services segment) 13,658 12,483 12,751 12,884 VivoPower Pty Ltd (allocated to the Solar Development segment) 10,319 9,436 9,636 9,738 Tembo (allocated to the Electric Vehicle segment) 1,817 - - - Total 25,794 21,919 22,387 22,622 The Group conducts impairment tests on the carrying value of goodwill and intangibles annually, or more frequently if there are any indications that goodwill might be impaired. The recoverable amount of the Cash Generating Unit (“CGU”) to which goodwill has been allocated are determined from value in use calculations. The key assumptions in the calculations are the discount rates applied, expected operating margin levels and long-term growth rates. Management estimates discount rates that reflect the current market assessments while margins and growth rates are based upon approved budgets and related projections. The Group prepares cash flow forecasts using the approved budgets for the coming financial year and management projections for the following two The CGU represented by Aevitas O Holdings Limited was assessed to have a value in excess of its carrying value and hence no additional adjustments to goodwill were considered necessary. Key assumptions used in the assessment of impairment were discount rate based on the weighted average cost of capital of 10% ( June 30, 2020: 10.6%; June 30, 2019: 8.8%; March 31, 2019: 8.8% No no Following the strategic pivot of the solar development business into sustainable energy solutions, management have re-assessed the applicability of the CGU which the VivoPower Pty Ltd goodwill and intangibles should be included within, for impairment assessment purposes. Whilst the strategic pivot requires development of new capabilities in the Company related to battery technology and grid connectivity, a significant portion of the existing technology, project execution methodology and management team of VivoPower Pty Ltd continue to provide solar development activity in the sustainable energy solutions segment. Furthermore, revenue streams of sustainable energy solutions include a significant solar component. Therefore, management have concluded that the VivoPower Pty Ltd goodwill and intangible assets can be included within the SES segment. Management have only included the solar element of future revenue streams when assessing impairment of VivoPower Pty Ltd goodwill and intangible assets. The solar element of the CGU represented by VivoPower Pty Ltd was assessed to have a value in excess of its carrying value and hence no additional adjustments to goodwill were considered necessary. Key assumptions used in the assessment of impairment were weighted average cost of capital of 10.7% ( June 30, 2020: 10.9%; June 30, 2019: 11.0%; March 31, 2019: 11.0% 1 5 1 5, 1 5 1 5. If the conversion rate of sustainable energy solutions from supporting infrastructure for electric vehicles is only 5% instead of management’s estimate of 20%, nil 20%, The CGU represented by Tembo e-LV B.V. and subsidiaries was assessed to have a value in excess of its carrying value and hence no additional adjustments to goodwill were considered necessary. Key assumptions used in the assessment of impairment were discount rate based on the weighted average cost of capital of 10% and average annual growth rate of 748% per annum in years 1 5. No no (b) Other intangible assets (US dollars in thousands) Customer Relationships Trade Names Favorable Supply Contracts Solar Projects Product Development Other Intangible Assets Total Intangible Assets Cost At March 31, 2019 5,097 2,476 4,229 - - 158 11,960 Foreign exchange (55 ) (26 ) (44 ) - - (1 ) (126 ) Additions - - - - - 12 12 Disposals (50 ) - - - - - (50 ) At June 30, 2019 4,992 2,450 4,185 - - 169 11,796 Foreign exchange (103 ) (51 ) (86 ) - - (4 ) (244 ) Additions 461 - - - - - 461 Disposals (968 ) - - - - (9 ) (977 ) At June 30, 2020 4,382 2,399 4,099 - - 156 11,036 Foreign exchange 411 225 385 - - 13 1,034 Additions 46 - - - 513 - 559 Acquisitions from business combinations 1,492 404 - 12,248 - - 14,144 Disposals (550 ) - - - - - (550 ) At June 30, 2021 5,781 3,028 4,484 12,248 513 169 26,223 Amortization Customer Relationships Trade Names Favorable Supply Contracts Solar Projects Product Development Other Intangible Assets Total Intangible Assets Cost At March 31, 2019 1,064 384 657 - - 111 2,216 Foreign exchange (6 ) (4 ) (7 ) - - (1 ) (18 ) Amortization 100 41 70 - - 12 223 At June 30, 2019 1,158 421 720 - - 122 2,421 Foreign exchange (24 ) (9 ) (15 ) - - (2 ) (50 ) Amortization 404 160 273 - - 31 868 Disposals (133 ) - - - - - (133 ) At June 30, 2020 1,405 572 978 - - 151 3,106 Foreign exchange 131 54 92 - - 18 295 Amortization 622 229 298 - 18 - 1,167 At June 30, 2021 2,158 855 1,368 - 18 169 4,568 Net book value Customer Relationships Trade Names Favorable Supply Contracts Solar Projects Product Development Other Intangible Assets Total Intangible Assets Cost At March 31, 2019 4,033 2,092 3,572 - - 47 9,744 At June 30, 2019 3,834 2,029 2,465 - - 47 9,375 At June 30, 2020 2,977 1,827 3,121 - - 5 7,930 At June 30, 2021 3,623 2,173 3,116 12,248 495 - 21,655 Customer relationships, trade names and favorable supply contracts have an average remaining period of amortization of 9 years, 12 years and 12 years respectively. Additions in the year comprise $0.5 million of post-acquisition electric vehicle product development costs in Tembo and $0.1 million of project development costs relating to the Yoogali Solar project in VivoPower Pty Ltd. Intangible assets were acquired as part of business combinations during the year. They are recognized at their fair value at the date of acquisition and, where applicable, are subsequently amortized on a straight-line basis over their estimated useful economics lives: (i) Development expenditure $12.2 million of development expenditure as part of the acquisition of the remaining 50% interest in Caret, LLC (formerly Innovative Solar Ventures I, LLC) as described in Note 12b. June 30, 2021. (ii) Customer relationships and trade names $1.5 million and $0.4 million of customer relationships and trade names, respectively, as part of the acquisition of Tembo as described in Note 12b. 4x4 Intangible assets disposed of in the year relate to the Yoogali and Daisy Hill Solar projects in Australia as described in Note 5. |
Note 15 - Investment in Subsidi
Note 15 - Investment in Subsidiaries | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of interests in subsidiaries [text block] | 15. Investment in subsidiaries The principal operating undertakings in which the Group’s interest at June 30, 2021 20% Subsidiary Undertakings Percentage of shares held Registered address VivoPower International Services Limited 100% 28 Esplanade, St Helier, Jersey, JE2 3QA VivoPower USA, LLC 100% VivoPower US-NC-31, LLC 100% VivoPower US-NC-47, LLC 100% 251 Little Falls Drive, Wilmington, DE, USA 19808 VivoPower (USA) Development, LLC 100% Caret, LLC (formerly Innovative Solar Ventures I, LLC) 100% VivoPower Pty Ltd 100% VivoPower WA Pty Ltd 100% VVP Project 1 Pty Limited 100% Amaroo Solar Pty. Ltd 100% Aevitas O Holdings Pty Ltd 100.0% 153 Walker St, North Sydney NSW, Australia 2060 Aevitas Group Limited 100% Aevitas Holdings Pty Ltd 100% Electrical Engineering Group Pty Limited 100% J.A. Martin Electrical Pty Limited 100% Kenshaw Electrical Pty Limited 100% Subsidiary Undertakings Percentage of shares held Registered address VivoPower Philippines Inc. 64% Unit 10A, Net Lima Building, 5th Avenue cor. 26th Street, E-Square Zone, Crescent Park West, Bonifacio Global City, Taguig, Metro Manila VivoPower RE Solutions Inc. 64% V.V.P. Holdings Inc. * 40% Tembo e-LV B.V. 100% Tembo 4x4 e-LV B.V. 100% Hoek 54A, 5571GK, Bergeijk FD 4x4 Centre B.V. 100% Associate and Joint Venture Undertakings Percentage of shares held Registered address VVPR-ITP TopCo Pty Limited 50% 153 Walker St, North Sydney NSW, Australia 2060 * V.V.P. Holdings Inc. is controlled by VivoPower Pty Ltd, notwithstanding only owning 40% of the ordinary share capital. |
Note 16 - Investments Accounted
Note 16 - Investments Accounted for Using The Equity Method | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of investments other than investments accounted for using equity method [text block] | 16. Investments accounted for using the equity method As at June 30 As at March 31 (US dollars in thousands) % Owned 2021 2020 2019 2019 Caret, LLC (formerly Innovative Solar Ventures I, LLC) 50 % - 8,225 - - Total - 8,225 - - In April 2017, 38 9 1.8 Under the terms of the ISS Joint Venture, the Company committed to invest $14.1 million in the ISS Joint Venture for its 50% not $14.1 June 29, 2021, $14.1 June 30, 2021, 20 June 30, 2021, 5. The joint venture was accounted for as an investment under the equity method at March 31, 2018. March 31, 2019, June 30, 2020, not 12 On June 30, 2021, 12b. |
Note 17 - Cash and Cash Equival
Note 17 - Cash and Cash Equivalents | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of cash and cash equivalents [text block] | 17. Cash and cash equivalents As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Cash at bank and in hand 8,604 2,824 7,129 4,522 The credit ratings of the counterparties with which cash was held are detailed in the table below. As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 A+ 5,423 - 252 17 A - - 233 14 A- 2 554 - - AA- 3,179 2,270 6,644 4,491 Total 8,604 2,824 7,129 4,522 |
Note 18 - Restricted Cash
Note 18 - Restricted Cash | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of restricted cash [text block] | 18. Restricted cash As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Bank guarantee security deposit 1,140 1,013 632 816 Preferred supplier agreement escrow - - - 503 Total 1,140 1,013 632 1,319 At June 30, 2021, June 30, 2020, June 30, 2019, March 31, 2019: |
Note 19 - Trade and Other Recei
Note 19 - Trade and Other Receivables | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of trade and other receivables [text block] | 19. Trade and other receivables As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Current receivables Trade receivables 4,959 3,112 6,193 5,899 Contract assets 2,723 3,382 3,929 1,800 Prepayments 2,837 432 2,919 628 Other receivables 2,011 5,475 1,951 2,072 Current tax receivable 182 155 - - Total 12,712 12,556 14,992 10,399 In accordance with IFRS 15, not Analysis of trade receivables: As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Trade and other receivables 4,959 3,119 6,195 5,929 Less: credit note provision - (7 ) (2 ) (30 ) Total 4,959 3,112 6,193 5,899 The maximum exposure to credit risk for trade receivables by geographic region was: As at June 30 2021 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 USA - - 108 78 United Kingdom - - - - Australia 4,349 3,112 6,085 5,821 Netherlands 610 - - - Total 4,959 3,112 6,193 5,899 The aging of the trade receivables, net of provisions is: As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 0-90 days 4,918 3,055 6,093 5,765 Greater than 90 days 41 57 100 134 Total 4,959 3,112 6,193 5,899 |
Note 20 - Inventory
Note 20 - Inventory | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of inventories [text block] | 20. Inventory As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Raw materials 1,537 - - - Total 1,537 - - - |
Note 21 - Assets Classified as
Note 21 - Assets Classified as Held for Sale | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of non-current assets or disposal groups classified as held for sale [text block] | 21. Assets classified as held for sale As at June 30 As at March 31 (US dollars in thousands) % Owned 2021 2020 2019 2019 Caret, LLC (formerly Innovative Solar Ventures I, LLC) 50 % - 4,080 13,530 13,530 Total - 4,080 13,530 13,530 The Company’s portfolio of U.S. solar projects was held through 50% ownership in the ISS Joint Venture until June 29, 2021. June 30, 2021, nil June 30, 2021. During the year ended March 31, 2019, 4.2. Reconciliation of the ISS Joint Venture investment is as follows: As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Capital commitment - 15,044 15,044 15,044 Commission credit - (770 ) (770 ) (770 ) Discontinued projects - (2,079 ) (847 ) (847 ) Acquisition costs - 110 103 103 Net assets - 12,305 13,530 13,530 Allocation of the net book value of the equity accounted investment in the ISS Joint Venture, between current assets held for sale, and non-current investments (as disclosed in Note 16 June 30, 2021, As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Assets classified as held for sale - 4,080 13,530 13,530 Investments accounted for using the equity method - 8,225 - - Net assets - 12,305 13,530 13,530 The table below provides summarized financial information for the ISS Joint Venture. The information disclosed reflects the amounts presented in the financial statements of ISS Joint Venture, amended to reflect adjustments made by the Company when using the equity method, including fair value adjustments and modifications for differences in accounting policy. The summarized financial information for the ISS Joint Venture does not As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Current assets - 2 1,187 1,187 Non-current assets - 23,277 27,107 27,107 Net assets - 23,279 28,294 28,294 Reconciliation to carrying amounts of the ISS Joint Venture (including amounts disclosed within Investments, see Note 16 As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Opening net assets 24,390 28,294 28,294 28,294 Commission credit - (1,546 ) - 1,514 Commission credit on abandonments - 144 - - Sundry income - 90 - - Project swaps - - - 281 Abandoned projects (13,900 ) (2,592 ) - (1,795 ) Acquisition of controlling interest (10,490 ) - - - Net assets - 24,390 28,294 28,294 VivoPower share in % N/A 50 % 50 % 50 % VivoPower share in $ (excluding funding obligation) - 12,195 14,148 14,148 Commission credit - - (721 ) (721 ) Acquisition costs - 110 103 103 Net Assets - 12,305 13,530 13,530 |
Note 22 - Trade and Other Payab
Note 22 - Trade and Other Payables | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of trade and other payables [text block] | 22. Trade and other payables As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Trade payables 4,325 4,807 5,554 5,675 Accruals 648 370 2,247 1,952 Related party payable - 504 1,527 1,378 Payroll liabilities 1,413 1,383 1,209 1,165 Sales tax payable 624 496 1,054 764 Contract liabilities 1,129 6,013 10,095 4,978 Other creditors 778 1,822 2,953 2,011 Total 8,917 15,395 24,639 17,923 In accordance with IFRS 15 Of the $10.1 million and $5.0 million contract liabilities balance at June 30, 2019 March 31, 2019, not June 30, 2020 first June 30, 2021. June 30, 2020, June 30, 2021. |
Note 23 - Provisions
Note 23 - Provisions | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of provisions [text block] | 23. Provisions As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Current provisions Employee entitlements 1,802 1,561 1,510 1,459 Litigation 485 1,104 - - Warranty 209 232 - - Remediation 306 - - - Employee terminations - - 112 157 Onerous contracts - - 96 94 Total current provisions 2,802 2,897 1,718 1,710 Non-current provisions Employee entitlements 165 169 148 227 Onerous contracts - - 1,952 1,995 Total non-current provision 165 169 2,100 2,222 Total provisions 2,967 3,066 3,818 3,932 Employee entitlements include long term leave and vacation provisions. On February 26, 2018, October 4, 2017. £0.62 £0.54 April 9, 2018, November 26, 2018, After aborted attempts at settlement, the matter was heard in the U.K. High Court in the first two March 2020, September 2020. £0.62 June 30, 2021, June 30, 2020. A further provision of $0.48 million for disputed legal success fees related to the Mr. Comberg litigation has also been recorded at June 30, 2021. Warranty provisions in Australia relate to the servicing of generators and is based on a percentage of revenue generated. The remediation provision comprises additional work required on electric vehicles, comprising a combination of remediation, testing or conversion of drivetrains to 72kwH. (US dollars in thousands) Employee Entitlements Employee Terminations Remediation Onerous Contracts Litigation Warranty Total At March 31, 2019 1,686 158 - 2,088 - - 3,932 Foreign exchange (18 ) - - - - - (18 ) Additional provisions 146 - - - - - 146 Reverse unused provisions (41 ) - - - - - (41 ) Unwinding of discount - - - 42 - - 42 Provisions utilized (116 ) (45 ) - (82 ) - - (243 ) At June 30, 2019 1,657 113 - 2,048 - - 3,818 Foreign exchange (41 ) - - - - - (41 ) Additional provisions 1,659 176 - - 1,104 232 3,171 Reverse unused provisions (72 ) (28 ) - - - - (100 ) Disposals - - - (2,048 ) - - (2,048 ) Provisions utilized (1,473 ) (261 ) - - - - (1,734 ) At June 30, 2020 1,730 - - - 1,104 232 3,066 Foreign exchange 170 - - 14 184 Additional provisions 1,306 - 306 - 2,042 122 3,776 Reverse unused provisions (67 ) - - - - (112 ) (179 ) Provisions utilized (1,172 ) - - - (2,661 ) (47 ) (3,880 ) At June 30, 2021 1,967 - 306 - 485 209 2,967 |
Note 24 - Loans and Borrowings
Note 24 - Loans and Borrowings | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of debt instruments [text block] | 24. Loans and borrowings As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Current liabilities Debtor invoice financing - 508 901 751 Lease liabilities 669 641 660 136 Shareholder loans - - 766 - Chattel mortgage 88 51 - - Project financing agreement 59 - - - Bank loan 152 66 - - Other borrowings 36 46 - - Total current liabilities 1,004 1,312 2,327 887 Non-current liabilities Lease liabilities 326 714 1,117 138 Shareholder loans 21,175 23,401 18,242 18,242 Chattel mortgage 244 249 - - Project financing agreement 183 - - - Bank loan 159 278 - - Total non-current liabilities 22,087 24,642 19,359 18,380 Total liabilities 23,091 25,954 21,686 19,267 In the prior fiscal year, on June 30, 2020 No 9 July 2021 March 2022. In December 2020, October 2020, July 2021 June 2026, April 2021. On June 30, 2021, January 1, 2023, sixty June 30, 2026, December 31, 2027. two June 30, 2022 December 31, 2022. In May June 2020, $0.3m 19 In addition to lease liabilities, in the year ended June 30, 2021, During the year ended June 30, 2021, two June 30, 2021 The obligations under lease liabilities are as follows: Minimum lease Payments Present value of minimum lease payments As at June 30 As at March 31 As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 2021 2020 2019 2019 Amounts payable under lease liabilities: Less than one year 683 695 692 147 669 641 660 136 Later than one year but not more than five 379 759 1,299 143 326 714 1,117 138 1,062 1,454 1,991 290 995 1,355 1,777 274 Future finance charges (67 ) (99 ) (214 ) (16 ) - - - - Total lease obligations 995 1,355 1,777 274 995 1,355 1,777 274 |
Note 25 - Called Up Share Capit
Note 25 - Called Up Share Capital | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of classes of share capital [text block] | 25. Called up share capital As at June 30 As at March 31 2021 2020 2019 2019 Allotted, called up and fully paid Ordinary shares of $ 0.012 $ 222,074 $ 162,689 $ 162,689 $ 162,689 Number allotted 18,506,064 13,557,376 13,557,376 13,557,376 Ordinary shares of $ 0.012 $ 222,074 $ 162,689 $ 162,689 $ 162,689 At the Company’s Annual General Meeting in 2017, 6 October 2020, October 2020, 18 December 2020, Movements in ordinary shares: Shares Par value Share premium Total No. USD 000 USD 000 USD 000 At March 31, 2019 13,557,376 163 40,215 40,378 At June 30, 2019 13,557,376 163 40,215 40,378 At June 30, 2020 13,557,376 163 40,215 40,378 Capital raises 1 4,091,019 49 34,317 34,366 THFC investment 2 49,750 1 499 500 Employee share scheme issues 3 792,126 9 961 970 Acquisition of non-controlling interest in subsidiary 4 15,793 - 237 237 At June 30, 2021 18,506,064 222 76,229 76,451 1 were issued, comprising 3,382,350 ordinary shares issued on October 19, 2020 1 October 14, 2020, June 2021, 3 December 21, 2020. 2 February 2021, 3 4 February 2021, On June 30, 2021, 31, July 21, 2021. 2,005,190 Each share has the same right to receive dividends and repayment of capital and represents one 26 |
Note 26 - Other Reserves
Note 26 - Other Reserves | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of reserves within equity [text block] | 26. Other reserves Other reserve movements (US dollars in thousands) Equity instruments 1 Preference shares 1 Shares pending issue 2 Capital raising costs 3 Equity incentive costs4 Share awards issuance4 Treasury shares 5 Share option reserve 6 Foreign exchange Total At March 31, 2019 26,090 - - (9,722 ) - - (246 ) 3,713 11 19,846 Equity instruments (3 ) - - - - - - - (3 ) Disposal of treasury shares - - - - - - 233 - - 233 At June 30, 2019 26,087 - - (9,722 ) - - (13 ) 3,713 11 20,076 Equity instruments 970 - - 1 - - - - 971 Other reserves - - - 3,713 17 - - (3,713 ) - 17 Employee share scheme - - - 326 - 13 - 5 344 At June 30, 2020 27,057 - - (6,009 ) 344 - - - 16 21,408 Conversion to Aevitas preference shares (2,998 ) 2,998 - - - - - - - - Interest on equity instruments 114 185 - - - - - - - 299 Equity instruments payments (3,317 ) (123 ) - - - - - - - (3,440 ) Conversion to ordinary shares pending issue in VivoPower International PLC (20,466 ) - 20,466 - - - - - - - Capital raising costs - - - (2,804 ) - - - - - (2,804 ) Share issuance costs - -- (15 ) - - - - - (15 ) Equity incentives cost less shares issued - - - - 1,078 (971 ) - - - 107 Other movements (390 ) 210 - - - - - - (61 ) (241 ) At June 30, 2021 - 3,270 20,466 (8,828 ) 1,422 (971 ) - - (45 ) 15,314 1 June 30, 2020 no June 30, 2021. There were 2,473,367 convertible preference shares outstanding with a face value of AU$3.00 AU$11,059,348 June 30, 2020, There were 2,473,367 convertible loan notes outstanding with a face value of AU$7.00 AU$25,075,203, Dividends or interest were payable quarterly in arrears at a rate of 7% on the capitalized value to December 29, 2016, US$10.20 On August 7, 2020, one 2,473,367 A$4,265,280 August 31, 2020, The 426,528 August 31, 2020, June 20, 2021, June 30, 2021. A$10 On June 30, 2021, June 30, 2021 2 July 21, 2021. 3 $2.8m 4 June 30, 2020, 2017 June 30, 2020. 5 March 30, 2017, March 31, 2019, 2017 6 US$8.70 April 30, 2020. not April 2020, |
Note 27 - Earnings Per Share
Note 27 - Earnings Per Share | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of earnings per share [text block] | 27. Earnings per share The earnings and weighted average numbers of ordinary shares used in the calculation of earnings per share are as follows: Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Loss for the year / period attributable to equity owners (7,571 ) (5,103 ) (1,446 ) (11,223 ) Weighted average number of shares in issue (‘000s) 16,307 13,557 13,557 13,557 Basic earnings/(loss) per share (dollars) (0.46 ) (0.38 ) (0.11 ) (0.83 ) Diluted earnings/(loss) per share (dollars) (0.46 ) (0.38 ) (0.11 ) (0.83 ) |
Note 28 - Pensions
Note 28 - Pensions | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of defined benefit plans [text block] | 28. Pensions The Company’s principal pension plan comprises the compulsory superannuation scheme in Australia, where the Company contributes 9.5%. A pension scheme is also in place for U.K. employees, where the Company contributes 7% (year ended June 30, 2020: June 30, 2020: 3 months ended June 20, 2019: March 31, 2019: |
Note 29 - Financial Instruments
Note 29 - Financial Instruments | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of financial instruments [text block] | 29. Financial instruments As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Financial assets at amortized cost Trade and other receivables 6,970 8,587 8,144 7,971 Cash and cash equivalents 8,604 2,824 7,129 4,522 Restricted cash 1,140 1,013 632 1,319 Total 16,714 12,424 15,905 13,812 Financial liabilities at amortized cost Loans and borrowings 23,091 25,954 21,686 19,267 Trade and other payables 5,751 7,504 12,281 11,016 Total 28,842 33,458 33,967 30,283 The amounts disclosed in the above table for trade and other receivables and payables do not not (a) Financial risk management The Group’s principal financial instruments are bank balances, cash and medium-term loans. The main purpose of these financial instruments is to manage the Group’s funding and liquidity requirements. The Group also has other financial instruments such as trade receivables and trade payables which arise directly from its operations. The Group is exposed through its operations to the following financial risks: ● Liquidity risk ● Credit risk ● Interest rate risk ● Foreign currency risk The Board of Directors has overall responsibility for the establishment and oversight of the Group’s risk management framework. Policy for managing risks is set by the Chief Executive Officer and is implemented by the Group’s finance department. All risks are managed centrally with a tight control of all financial matters. (b) Liquidity risk Liquidity risk is the risk that the Group will not no June 30, 2021 ( June 30, 2020: $2.8m; June 30, 2019: March 31, 2019: June 30, 2021 June 30, 2020: 1.04; June 30, 2019: 1.25; March 31, 2019: 1.43 March 31, 2019, nil June 30, 2021 ( June 30, 2020: June 30, 2019: March 31, 2019: Contractual maturities of financial liabilities, including interest payments, are as follows: Year Ended June 30, 2021 (US dollars in thousands) Total Less than 1 year 1-3 years 3-5 years More than 5 years Contractual maturity of financial liabilities Trade and other payables (financial liabilities) 5,751 5,751 - - - Borrowings 22,096 411 11,424 10,261 - Lease liabilities 995 669 326 - - Total 28,842 6,831 11,750 10,261 - Year Ended June 30, 2020 (US dollars in thousands) Total Less than 1 year 1-3 years 3-5 years More than 5 years Contractual maturity of financial liabilities Trade and other payables (financial liabilities) 7,504 7,504 - - - Borrowings 24,598 688 23,873 37 - Lease liabilities 1,356 649 654 53 - Total 33,458 8,841 24,527 90 - Year Ended June 30, 2019 (US dollars in thousands) Total Less than 1 year 1-3 years 3-5 years More than 5 years Contractual maturity of financial liabilities Trade and other payables (financial liabilities) 12,281 12,281 - - - Borrowings 23,397 3,859 19,538 - - Lease liabilities 1,991 692 1,077 222 - Total 37,669 16,832 20,615 222 - Year Ended March 31, 2019 (US dollars in thousands) Total Less than 1 year 1-3 years 3-5 years More than 5 years Contractual maturity of financial liabilities Trade and other payables (financial liabilities) 11,016 11,016 - - - Borrowings 22,480 2,556 19,924 - - Lease liabilities 290 147 143 - - Total 33,786 13,719 20,067 - - (c) Credit risk The primary risk arises from the Group’s receivables from customers and contract assets. The majority of the Group’s customers are long standing and have been a customer of the Group for many years. Losses have occurred infrequently. The Group is mainly exposed to credit risks from credit sales, but the Group has no The Group does not not The credit quality of debtors neither past due nor impaired is good. Refer to Note 19 (d) Foreign currency risk The Group operates internationally and is exposed to foreign exchange risk on sales and purchases that are denominated in currencies other than the respective functional currencies of the Group entities to which they relate, primarily between USD, AUD, EUR and GBP. The Group’s investments in overseas subsidiaries are not The Group is exposed to foreign exchange risk on the following balances at June 30, 2021: ● Cash and cash equivalents $2.3 million denominated in AUD, $0.9 million denominated in EUR and $0.1 million denominated in GBP. ● Restricted cash $1.1 million denominated in AUD. ● Trade and other receivables $8.4 million denominated in AUD, $1.0 million denominated in EUR and $0.2 million denominated in GBP. ● Trade and other payables $10.6 million denominated in AUD, $1.0 million in EUR and $0.9 million in GBP. ● Borrowings $3.8 million denominated in AUD and $0.3 in EUR. ● Provisions $2.2 million denominated in AUD, $0.3 million in EUR and $0.5 million in GBP. The non-current shareholder loan of $21.2 million is denominated in USD, upon which there is no (e) Interest rate risk As a result of the related party loan agreement the Group is exposed to interest rate volatility. However, the interest rate is fixed for the medium term, therefore, the risk is largely mitigated for the near future. The Group will continue to monitor the movements in the wider global economy. |
Note 30 - Related Party Transac
Note 30 - Related Party Transactions | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of related party [text block] | 30. Related party transactions Following dilution due to issuance of ordinary share capital to third no Kevin Chin, Chairman and Chief Executive Officer of VivoPower, is also Chief Executive of AWN. During the period, a number of services were provided to the Company from AWN and its subsidiaries; the extent of the transactions between the two In the prior fiscal year, on June 30, 2020, No July 2021 March 2022. In December 2020, October 2020, July 2021 June 2026, April 2021. On June 30, 2021, January 1, 2023, sixty June 30, 2026, December 31, 2027. two June 30, 2022, December 31, 2022. Michael Hui, non-executive director of VivoPower International PLC, is also an employee and director of AWN. During the year ended June 30, 2021, June 30, 2021, $nil one From time to time, costs incurred by AWN on behalf of VivoPower are recharged to the Company. During the year ended June 30, 2021, June 30, 2021, June 30, 2020: $202,024; June 30, 2019: $1,268,670; March 31, 2019: $1,268,670 Aevitas was indebted to the following subsidiaries of AWN via their holdings in Aevitas convertible loan notes and convertible preference shares, which converted into rights to VivoPower shares on June 30, 2021, July 21, 2021. 26 Subsidiaries of AWN earned $737,220 of interest on convertible loan notes and $315,951 of dividends on convertible preferred shares during the year ended June 30, 2021. June 30, 2021. June 30, 2021, June 30, 2021, ● Arowana Australasian Special Situations 1A $1,192,352; ● Arowana Australasian Special Situations 1B $1,192,352; ● Arowana Australasian Special Situations 1C $4,617,727; $1,192,352; ● Arowana Australasian Special Situations Fund 1 Aevitas is indebted to The Panaga Group Trust, of which Mr. Kevin Chin is a beneficiary and one A$46,970. June 30, 2021. Chief Executive fees for Kevin Chin in the amounts of $443,816 and training annual allowance of $51,976 were charged to the Company by AWN during the year ended June 30, 2021. Chairman’s fees for Kevin Chin in the amounts of $92,119 were charged to the Company by Arowana Partners Group Pty Ltd (“APG”), and 7,788 ($50,000) one June 30, 2021. On July 01, 2020, not no June 30, 2021. |
Note 31 - Subsequent Event
Note 31 - Subsequent Event | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of events after reporting period [text block] | 31. Subsequent event On July 21, 2021, June 30, 2021. |
Note 32 - Key Management Person
Note 32 - Key Management Personnel Compensation | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of information about key management personnel [text block] | 32. Key management personnel compensation Key management personnel, which are those roles that have a Group management aspect to them are included in Note 9 |
Note 33 - Ultimate Controlling
Note 33 - Ultimate Controlling Party | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of ultimate controlling party [text block] | 33. Ultimate controlling party As at June 30, 2021, no June 30, 2021, July 21, 2021 June 30, 2021 In prior periods, the ultimate controlling party and the results into which these financials were consolidated was AWN Holdings Limited, a company registered in Australia. |
Significant Accounting Policies
Significant Accounting Policies (Policies) | 12 Months Ended |
Jun. 30, 2021 | |
Discloure of Significant Accounting Policies | |
Description of accounting policy for basis of preparation [text block] | 2.1 Basis of preparation VivoPower International PLC consolidated financial statements were prepared in accordance with International Financial Reporting Standards (IFRS), as issued by the International Accounting Standards Board, IFRIC interpretations and the Companies Act 2006 The preparation of financial statements with adopted IFRS requires the use of critical accounting estimates. It also requires the management to exercise judgement in the process of applying the Company’s accounting policies. The areas involving a higher degree of judgement or complexity, or areas where the assumptions and estimates are significant to the consolidated financial statements are disclosed in Note 3. The financial statements have been prepared on a going concern basis, as the directors believe the Company will be able to meet its liabilities as they fall due. As at June 30, 2021, June 30, 2020, June 30, 2019 March 31, 2019. 30 June 2021. Over the next twelve The Company estimates that the net additional funding requirement in the year ended June 30, 2022 The Directors believe these actions will provide sufficient cash to support business operations and meet obligations as they become due through September 2021. To ensure success of the business, the directors have prepared and reviewed additional plans to mitigate any cash flow risk that may twelve ● Regular re-forecasting process and flexing of opex and capex cost growth according to liquidity needs; ● Phased approach to hiring of personnel to sustain growth of the Tembo business; ● Obtaining COVID relief where available, e.g. Jobsaver COVID payroll subsidy in Australia; ● Staging the timing of property plant and equipment and software capex to match asset backed financing inflows; ● Obtain R&D grants in the U.K and Europe to help fund investment in electric, solar and battery technologies; ● Careful project planning and commercial structuring of SES projects; ● Possible sale, spin off, or distribution in specie of Caret, LLC; ● Staging the timing of equity raises to minimize dilution; and ● Renegotiation of terms on loans and supply chain. Based on the foregoing, the directors believe that the Company is well placed to manage its business risk successfully, despite some current economic and political uncertainty. The directors therefore have a reasonable expectation that the Company has adequate resources to continue in operational existence for the foreseeable future. Thus, they have continued to adopt the going concern basis in preparing the financial statements. All financial information presented in US dollars has been rounded to the nearest thousand. |
Description of accounting policy for consolidation [text block] | 2.2 Basis of consolidation The consolidated financial statements include those of VivoPower International PLC and all of its subsidiary undertakings. Subsidiary undertakings are those entities controlled directly or indirectly by the Company. The Company controls an investee when it is exposed to, or has rights to, variable returns from its involvement with the entity and has the ability to affect those returns through its power over the entity. The results of the subsidiaries acquired are included in the Consolidated Statement of Comprehensive Income from the date of acquisition using the same accounting policies of those of the Group. All business combinations are accounted for using the purchase method. The consideration transferred in a business combination is the fair value at the acquisition date of the assets transferred and the liabilities incurred by the Group and includes the fair value of any contingent consideration arrangement. Acquisition-related costs are recognized in the income statement as incurred. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are measured initially at their fair value at the acquisition date. Where necessary, adjustments are made to the financial statements of subsidiaries to bring their accounting policies in line with those used by other members of the Group. All intra-group balances and transactions, including any unrealized income and expense arising from intra-group transactions, are eliminated in full in preparing the consolidated financial statements. Unrealized gains arising from transactions with equity accounted investees are eliminated against the investment to the extent of the Group’s interest in the investee. Unrealized losses are eliminated in the same way as unrealized gains, but only to the extent that there is no |
Description of accounting policy for business combinations [text block] | 2.3 Business combination The acquisition method of accounting is used to account for all business combinations, regardless of whether equity instruments or other assets are acquired. The consideration transferred for the acquisition of a subsidiary comprises the: ● fair values of the assets transferred ● liabilities incurred to the former owners of the acquired businesses ● equity interests issued by the Company ● fair value of any asset or liability resulting from a contingent consideration arrangement, and ● fair value of any pre-existing equity interest in the subsidiary. Identifiable assets acquired and liabilities and contingent liabilities assumed in a business combination are, with limited exceptions, measured initially at their fair values at the acquisition date. The Group recognizes any non-controlling interest in the acquired entity on an acquisition-by-acquisition basis either at fair value or at the non-controlling interest’s proportionate share of the acquired entity’s net identifiable assets. Acquisition-related costs are expenses as incurred. The excess of the: ● consideration transferred ● amount of any non-controlling interest in the acquired entity, and ● acquisition-date fair value of any previous equity interest in the acquired entity over the fair value of the net identifiable assets acquired is recorded as goodwill. If those amounts are less than the fair value of the net identifiable assets of the business acquired, the difference is recognized directly in profit or loss as a bargain purchase. Where settlement of any part of cash consideration is deferred, the amounts payable in the future are discounted to their present value as at the date of exchange. The discount rate used is the entity’s incremental borrowing grate, being the rate at which a similar borrowing could be obtained from an independent financier under comparable terms and conditions. Contingent consideration is classified either as equity or a financial liability. Amounts classified as a financial liability are subsequently remeasured to fair value, with changes in fair value recognized in profit or loss. If the business combination is achieved in stages, the acquisition date carrying value of the acquirer’s previously held equity interest in the acquiree is remeasured to fair value at the acquisition date. Any gains or losses arising from such remeasurement are recognized in profit or loss. |
Description of accounting policy for intangible assets and goodwill [text block] | 2.4 Intangible assets All intangible assets, except goodwill, are stated at fair value less accumulated amortization and any accumulated impairment losses. Goodwill is not Goodwill Goodwill arose on the effective acquisition of VivoPower Pty Ltd, Aevitas O Holdings Limited (“Aevitas”) and Tembo e-LV B.V. Goodwill is reviewed annually to test for impairment. Negative goodwill arose on the acquisition of the remaining 50% share in the ISS Joint Venture, constituting a bargain purchase. The gain was immediately recognized in the profit and loss. Other intangible assets Intangible assets acquired through a business combination are initially measured at fair value and then amortized over their useful economic lives. Subsequent expenditure is capitalized only when it increases the future economic benefits embodied in the specific asset to which it relates. Development expenditure includes the product development project for ruggedized electric vehicles in Tembo, pre-series-production expenditure on developing vehicle specifications and production processes. Capitalized costs include primarily internal payroll costs and external consultants. Development expenditure on U.S. solar projects includes securing land rights, completing feasibility studies, negotiating power purchase agreements, and other costs incurred to prepare project sales for Notice to Proceed with construction and hence sale to a partner as a shovel ready project. For both electric vehicles product development project, and U.S. solar development projects, it is the Company’s intention to complete the projects, it expects to obtain adequate technical, financial and other resources to complete the projects, and management consider that it is probable for the future economic benefits attributable to the development expenditure to flow to the entity; and that the cost of the asset can be measured reliably. Accordingly, the development expenditure is recognized under IAS 38 All other expenditure, including expenditure on internally generated goodwill and brands, and research costs, are recognized in profit or loss as incurred. Amortization is calculated on a straight-line basis to write down the assets over their useful economic lives at the following rates: ● Development expenditure - 5 to 10 years ● Customer relationships – 5 -10 years ● Trade names – 15 to 25 years ● Favorable supply contracts – 15 years ● Other – 5 years |
Description of accounting policy for property, plant and equipment [text block] | 2.5 Property, plant and equipment Property, plant and equipment are stated at cost less accumulated depreciation and any accumulated impairment losses. The cost of an item of property, plant and equipment comprises its purchase price and the costs directly attributable to bringing the asset into use. When parts of an item of property, plant and equipment have different useful lives, they are accounted as separate items (major components) of property, plant and equipment. Depreciation is calculated on a straight-line basis so as to write down the assets to their estimated residual value over their useful economic lives at the following rates: ● Computer equipment - 3 years ● Fixtures and fittings - 3 to 20 years ● Motor vehicles - 5 years ● Plant and equipment – 3.5 to 10 years ● Right-of-use assets – remaining term of lease |
Description of accounting policy for non-current assets or disposal groups classified as held for sale and discontinued operations [text block] | 2.6 Assets classified as held for sale Assets are classified as held for sale if their carrying amount will be recovered principally through a sale transaction rather than through continuing use and a sale is considered highly probable. They are measured at the lower of their carrying value and fair value less costs to sell. An impairment loss is recognized for any subsequent write-down of the asset to fair value less costs to sell. |
Description of accounting policy for inventory [text block] | 2.7 Inventory Inventories are stated at the lower of cost and net realizable value, in accordance with IAS 2 |
Description of accounting policy for leases [text block] | 2.8 Leases The Group leases offices, workshops, motor vehicles, and equipment for fixed periods of 2 6 may not Contracts may not Lease terms are negotiated on an individual basis and contain a wide range of different terms and conditions. The lease agreements do not may not Until March 31, 2019, April 1, 2019, 16 Assets and liabilities arising from a lease are initially measured on a present value basis, with lease payments discounted using the interest rate implicit in the lease. If that rate cannot be readily determined, the Group’s incremental borrowing rate is used. The Group presents lease liabilities in loans and borrowings in the Statement of Financial Position. Lease payments are allocated between principal and finance cost. The finance cost is charged to the Statement of Comprehensive Income over the lease period so as to produce a constant periodic rate of interest on the remaining balance of the liability for each period. Right-of-use assets are presented in property, plant and equipment and depreciated over the shorter of the asset's useful life and the lease term on a straight-line basis. Prior to April 1, 2019, |
Description of accounting policy for impairment of non-financial assets [text block] | 2.9 Impairment of non-financial assets Goodwill is allocated to cash-generating units for the purposes of impairment testing. The recoverable amount of the cash-generating unit (‘CGU’) to which the goodwill relates is tested annually for impairment or when events or changes to circumstances indicate that it might be impaired. The carrying values of property, plant and equipment, investments and intangible assets other than goodwill are reviewed for impairment only when events indicate the carrying value may In an impairment test the recoverable amount of the cash-generating unit or asset is estimated in order to determine the existence or extent of any impairment loss. The recoverable amount is the higher of fair value less costs to sell and the value in use to the Group. An impairment loss is recognized to the extent that the carrying value exceeds the recoverable amount. In determining a cash-generating unit’s or asset’s value in use, estimated future cash flows are discounted to their present value using a pre-tax discount rate that reflects current market assessments of the time-value of money and risks specific to the cash-generating unit or asset that have not An impairment loss in respect of goodwill is not no not no |
Description of accounting policy for financial instruments [text block] | 2.10 Financial instruments Financial assets and liabilities are recognized in the Group’s Statement of Financial Position when the Group becomes a party to the contracted provision of the instrument. The following policies for financial instruments have been applied in the preparation of the consolidated financial statements. From April 1, 2018, • those to be measured subsequently at fair value through profit or loss; and, • those to be measured at amortized cost. The classification depends on the business model for managing the financial assets and the contractual terms of the cash flows. Financial assets are classified as at amortized cost only if both of the following criteria are met: • the asset is held within a business model whose objective is to collect contractual cash flows; and, • the contractual terms give rise to cash flows that are solely payments of principal and interest. Fair value is the price that would be received to sell an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. The fair value measurement is based on the presumption that the transaction to sell the asset or transfer the liability takes place either: • in the principal market for the asset or liability; or, • in the absence of a principal market, in the most advantageous market for the asset or liability. The principal or the most advantageous market must be accessible by the Group. The fair value of an asset or a liability is measured using the assumptions that market participants would use when pricing the asset or liability, assuming that market participants act in their economic best interest. All assets and liabilities for which fair value is measured or disclosed in the financial statements are categorized within the fair value hierarchy, described as follows, based on the lowest level input that is significant to the fair value measurement as a whole: Level 1 Level 2 Level 3 Cash and cash equivalents For the purpose of preparation of the Statement of Cash Flow, cash and cash equivalents includes cash at bank and in hand. Restricted cash Restricted cash are cash and cash equivalents whose availability for use within the Group is subject to certain restrictions by third Bank borrowings Interest-bearing bank loans are recorded at the proceeds received. Direct issue costs paid on the establishment of loan facilities are recognized over the term of the loan on a straight-line basis. The initial payment is taken to the Statement of Financial Position and then amortized over the full-length of the facility. Trade and other receivables Trade and other receivables are recognized initially at fair value and subsequently measured at amortized cost using the effective interest method, less any allowance for the expected future issue of credit notes and for non-recoverability due to credit risk. The Group applies the IFRS 9 Trade and other payables Trade and other payables are non-interest bearing and are stated at amortized cost using the effective interest method. Share capital Ordinary shares are classified as equity. Incremental costs directly attributable to the issue of ordinary shares are recognized as a deduction from equity, net of any tax effects. Repurchase of share capital (treasury shares) When share capital recognized as equity is repurchased as equity by the Company the amount of the consideration paid, which includes directly attributable costs, net of any tax effects, is recognized as a deduction from equity, and excluded from the number of shares in issue when calculating earnings per share. |
Description of accounting policy for income tax [text block] | 2.11 Taxation Income tax expense comprises current and deferred tax. Current tax is recognized based on the amounts expected to be paid or recovered under the tax rates and laws that have been enacted or substantively enacted by the end of the reporting period. Deferred tax is provided on temporary timing differences that arise between the carrying amounts of assets and liabilities for financial reporting purposes and their corresponding tax values. Liabilities are recorded on all temporary differences except in respect of initial recognition of goodwill and in respect of investments in subsidiaries where the timing of the reversal of the temporary difference is controlled by the Group and it is probable that it will not Deferred tax assets and liabilities are offset if there is a legally enforceable right to offset current tax assets and liabilities, they relate to income taxes levied by the same tax authority and the Group intends to settle current tax liabilities and assets on a net basis or their tax assets and liabilities will be realized simultaneously. Current and deferred tax are recognized in the Statement of Comprehensive Income, except when the tax relates to items charged or credited directly to equity, in which case it is dealt with directly in equity. |
Description of accounting policy for provisions [text block] | 2.12 Provisions Provisions are recognized when the Group has a present obligation because of a past event, it is probable that the Group will be required to settle that obligation, and it can be measured reliably. Provisions are measured at the directors’ best estimate of the expenditure required to settle the obligation at the date of Statement of Financial Position. Where the time value of money is material, provisions are measured at the present value of expenditures expected to be paid in settlement. |
Description of accounting policy for earnings per share [text block] | 2.13 Earnings per share The Group presents basic and diluted earnings per share (“EPS”) data for ordinary shares. Basic EPS is calculated by dividing the profit or loss attributable to ordinary shareholders of the Company by the weighted average number of ordinary shares, excluding the shares held as treasury shares. Currently there are no |
Description of accounting policy for foreign currency translation [text block] | 2.14 Foreign currencies The Company’s functional and presentational currency is the US dollar. Items included in the separate financial statements of each Group entity are measured in the functional currency of that entity. Transactions denominated in foreign currencies are translated into the functional currency of the entity at the rates of exchange prevailing at the dates of the individual transactions. Foreign currency monetary assets and liabilities are translated at the rates of exchange prevailing at the end of the reporting period. Exchange gains and losses arising are charged to the Statement of Comprehensive Income within finance income or expenses. The Statement of Comprehensive Income and Statement of Financial Position of foreign entities are translated into US dollars on consolidation at the average rates for the period and the rates prevailing at the end of the reporting period respectively. Exchange gains and losses arising on the translation of the Group’s net investment foreign entities are recognized as a separate component of shareholders’ equity. Foreign currency denominated share capital and related share premium and reserve accounts are recorded at the historical exchange rate at the time the shares were issued, or the equity created. |
Description of accounting policy for recognition of revenue [text block] | 2.15 Revenue from contracts with customers Revenue comprises the fair value of the consideration received or receivable for the sale of services in the ordinary course of the Group’s activities. Revenue is shown net of discounts, value-added tax, other sales related taxes, and after the elimination of sales within the Group. Revenue comprises development revenues, electrical installations, electrical servicing and maintenance, generator sales, vehicle spec conversion and conversion kits. Revenue is recognized upon satisfaction of contractual performance obligations. The Company adopted IFRS 15 The Group has a number of different revenue streams and the key components in determining the correct recognition are as follows: Development revenue, which is revenue generated from development services relating to the building and construction of solar projects, is recognized on a percentage completion basis as the value is accrued by the end user over the life of the contract. The periodic recognition is calculated through weekly project progress reports. On longer-term power services projects such as large-scale equipment provision and installation, the performance obligation of completing the installation is satisfied over time, and revenue is recognized on a percentage completion basis using an input method. Revenue for stand-alone equipment sales is recognized at the point of passing control of the asset to the customer. Other revenue for small jobs and those completed in a limited timeframe are recognized when the job is complete and accepted by the customer. Revenue for sale of electric vehicles, kits for electric vehicles and related products is recognized upon delivery to the customer. Where distribution agreements are agreed with external parties to participate in the assembly of vehicles, revenue recognition will be assessed under IFRS 15 Warranties are of short duration and only cover defective workmanship and defective materials. No No one If the revenue recognized for goods and services rendered by the Company exceeds amounts that the Company is entitled to bill the customer, a contract asset is recognized. If amounts billed exceed the revenue recognized for goods and services rendered, a contract liability is recognized. Incremental costs of obtaining a contract are expensed as incurred. |
Description of accounting policy for other income [text block] | 2.16 Other income Other income in relation to government grants, is recognized in the period that the related costs, for which the grants are intended to compensate, are expensed. |
Description of accounting policy for employee benefits [text block] | 2.17 Employee benefits Pension The employer pension contributions are associated with defined contribution schemes. The costs are therefore recognized in the month in which the contribution is incurred, which is consistent with recognition of payroll expenses. Short-term benefits Short-term employee benefit obligations are measured on an undiscounted basis and are expensed as the related service is provided. A liability is recognized for the amount expected to be paid under short-term cash bonus or profit-sharing plans if the Group has a present legal or constructive obligation to pay this amount because of past service provided by the employee and the obligation can be reliably measured. Short-term compensated absences A liability for short-term compensated absences, such as holidays, is recognized for the amount the Group may Share based payments Shares issued to employees and other participants under the Omnibus Incentive Plan 2017 2. |
Description of accounting policy for restructuring costs [text block] | 2.18 Restructuring and other non-recurring costs Restructuring and other non-recurring costs are by nature one not 1 37 Other non-recurring costs include litigation expenses for former employees, including fees for legal services and provisions under IAS 37 Other non-recurring costs also include legal and professional costs for project review and investigation detailed review and sales campaign for solar projects managed by the ISS Joint Venture partner. Other non-recurring costs also include one |
Description of accounting policy for new standards [text block] | 2.19 New standards, amendments and interpretations The following accounting standards and their amendments were adopted during the financial year. International Accounting Standards Effective date IAS 1 8 1 January 2020 Various amendments to references to conceptual framework. 1 January 2020 International Financial Reporting Standards Effective date IFRS 3 1 January 2020 The adoption of these policies has had no The following accounting standards and their amendments were in issue at the year-end but will not International Accounting Standards (amendments) Effective date* IAS 1 1 January 2023 IAS 1 1 January 2023 IAS 8 1 January 2023 IAS 37 1 January 2022 IAS 16 1 January 2022 IFRS 3 1 January 2022 IFRS 2018 20 2018 2020 1 January 2022 *Years beginning on or after The Directors do not |
Note 4 - Revenue and Segmenta_2
Note 4 - Revenue and Segmental Information (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of geographical areas [text block] | Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Australia 39,018 47,983 13,507 37,889 United States - - 110 1,147 Netherlands 1,393 - - - United Kingdom - 3 - - Total revenue 40,411 47,986 13,617 39,036 |
Disclosure of products and services [text block] | Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Electrical products and related services 38,832 47,917 13,484 37,799 Development fees 185 69 - 90 Conversion kits 137 - - - Vehicle spec conversion 1,219 - - - Accessories 38 - - - Other revenue - - 133 1,147 Total revenue 40,411 47,986 13,617 39,036 |
Disclosure of operating segments [text block] | Year Ended June 30, 2021 Critical Power Services Solar Electric Vehicles Corporate Office Total (US dollars in thousands) Revenue from contracts with customers 38,832 185 1,394 - 40,411 Costs of sales (32,792 ) - (1,292 ) - (34,084 ) Gross profit 6,040 185 102 - 6,327 General and administrative expenses (3,004 ) (1,309 ) (1,923 ) (4,897 ) (11,133 ) Gain on solar development - net 36 733 - - 769 Other income 1,511 - - - 1,511 Depreciation and amortization (1,902 ) (4 ) (346 ) (4 ) (2,256 ) Operating profit/(loss) 2,681 (395 ) (2,167 ) (4,901 ) (4,782 ) Restructuring and other non-recurring costs (27 ) - (631 ) (2,222 ) (2,880 ) Finance income 2,163 - 10 6 2,179 Finance expense (476 ) (24 ) (11 ) (2,079 ) (2,590 ) Profit/(loss) before income tax 4,341 (419 ) (2,799 ) (9,196 ) (8,073 ) Income tax (714 ) 96 733 - 115 Profit/(loss) for the period 3,627 (323 ) (2,066 ) (9,196 ) (7,958 ) Year Ended June 30, 2020 Critical Power Services Solar Electric Vehicles Corporate Office Total (US dollars in thousands) Revenue from contracts with customers 47,914 69 - 3 47,986 Costs of sales (40,865 ) (20 ) - - (40,885 ) Gross profit 7,049 49 - 3 7,101 General and administrative expenses (2,745 ) (469 ) - (2,265 ) (5,479 ) Gain on solar development - net 41 1,548 - - 1,589 Other income 724 - - - 724 Depreciation and amortization (1,718 ) (45 ) - (3 ) (1,766 ) Operating profit/(loss) 3,351 1,083 - (2,265 ) 2,169 Restructuring and other non-recurring costs (124 ) (1,296 ) - (1,990 ) (3,410 ) Finance expense – net (1,436 ) (9 ) - (1,704 ) (3,149 ) Profit/(loss) before income tax 1,791 (222 ) - (5,959 ) (4,390 ) Income tax 15 (728 ) - - (713 ) Profit/(loss) for the period 1,806 (950 ) - (5,959 ) (5,103 ) Three Months Ended June 30, 2019 Critical Power Services Solar Electric Vehicles Corporate Office Total (US dollars in thousands) Revenue from contracts with customers 13,484 133 - - 13,617 Costs of sales (11,864 ) (96 ) - - (11,960 ) Gross profit 1,620 37 - - 1,657 General and administrative expenses (567 ) (206 ) - (518 ) (1,291 ) Gain/(loss) on solar development - net 5 41 - (8 ) 38 Depreciation and amortization (422 ) (14 ) - (1 ) (437 ) Operating profit/(loss) 636 (142 ) - (527 ) (33 ) Restructuring and other non-recurring costs (15 ) (39 ) - (471 ) (525 ) Finance expense – net (358 ) (49 ) - (389 ) (796 ) Profit/(loss) before income tax 263 (230 ) - (1,387 ) (1,354 ) Income tax (92 ) - - - (92 ) Profit/(loss) for the period 171 (230 ) - (1,387 ) (1,446 ) Year Ended March 31, 2019 Critical Power Services Solar Development Electric Vehicles Corporate Office Total (US dollars in thousands) Revenue from contracts with customers 37,800 1,236 - - 39,036 Costs of sales (32,317 ) (409 ) - - (32,726 ) Gross profit 5,483 827 - - 6,310 General and administrative expenses (2,823 ) (2,148 ) - (2,714 ) (7,685 ) Gain/(loss) on Solar Development (30 ) (2,585 ) - - (2,615 ) Depreciation and amortization (1,272 ) (140 ) - (8 ) (1,420 ) Operating profit/(loss) 1,358 (4,043 ) - (2,722 ) (5,410 ) Restructuring and other non-recurring costs (8 ) 7 - (2,016 ) (2,017 ) Finance expense – net (1,354 ) (221 ) - (1,664 ) (3,239 ) Profit/(loss) before income tax (4 ) (4,260 ) - (6,402 ) (10,666 ) Income tax (572 ) 15 - - (557 ) Profit/(loss) for the period (576 ) (4,245 ) - (6,402 ) (11,223 ) As at June 30, 2021 (US dollars in thousands) Critical Power Services Solar Development Electric Vehicles Corporate Office Total Assets 35,604 24,693 9,027 7,188 76,512 Liabilities (9,442 ) (767 ) (2,093 ) (23,792 ) (36,094 ) Net assets/(liabilities) 26,162 23,926 6,934 (16,604 ) 40,418 As at June 30, 2020 (US dollars in thousands) Critical Power Services Solar Development Electric Vehicles Corporate Office Total Assets 38,519 22,965 - 896 62,380 Liabilities (14,481 ) (1,697 ) - (28,312 ) (44,490 ) Net assets/(liabilities) 24,038 21,268 - (27,416 ) 17,890 As at June 30, 2019 (US dollars in thousands) Critical Power Services Solar Development Electric Vehicles Corporate Office Total Assets 45,881 26,534 - 694 73,109 Liabilities (21,171 ) (5,766 ) - (23,656 ) (50,593 ) Net assets/(liabilities) 24,710 20,768 - (22,962 ) 22,516 As at March 31, 2019 (US dollars in thousands) Critical Power Services Solar Development Electric Vehicles Corporate Office Total Assets 35,472 29,538 - 385 65,395 Liabilities (13,603 ) (6,085 ) - (21,722 ) (41,410 ) Net assets/(liabilities) 21,869 23,453 - (21,337 ) 23,985 |
Note 5 - Gain (Loss) on SES D_2
Note 5 - Gain (Loss) on SES Development (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of detailed information about gain (loss) on assets [text block] | Year Ended June 30 Three Months ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 VivoRex contract obligations - 2,768 - (1,902 ) Australia solar projects (165 ) 496 - (247 ) ISS Joint Venture - 50% share of discontinued projects (6,950 ) (1,675 ) - (868 ) NC Projects sale - - - 402 Gain on acquisition of remaining 50% ISV from ISS 7,848 - - - Other gains 36 - 38 - Total gain/(loss) on Solar Development 769 1,589 38 (2,615 ) |
Note 7 - Operating Profit (Lo_2
Note 7 - Operating Profit (Loss) (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of other operating income (expense) [text block] | Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Amortization of intangible assets 1,167 868 223 990 Depreciation of property, plant and equipment 1,089 898 214 430 Operating lease costs – land and buildings - - - 548 Operating lease costs – motor vehicles - - - 65 Operating lease costs – other equipment - - - 33 Gain on foreign exchange 2,179 33 - - Auditors’ remuneration – audit fees 163 161 97 253 Auditors’ remuneration – audit related services - - - 26 Auditors’ remuneration – tax services 12 11 - 28 Directors’ emoluments 676 398 104 611 Loss/(gain) on disposal of solar development (769 ) (1,589 ) (38 ) 2,615 |
Note 8 - Restructuring and Ot_2
Note 8 - Restructuring and Other Non-recurring Costs (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of restructuring expenses [text block] | Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Corporate restructuring – workforce reduction - 163 - 102 Corporate restructuring – litigation 2,042 1,104 - - Corporate restructuring – professional fees 179 1,031 518 1,776 Project review and investigation costs - 1,112 7 139 Relocation costs 27 - - - Acquisition of subsidiaries - related costs 632 - - - Total 2,880 3,410 525 2,017 |
Note 9 - Staff Numbers and Co_2
Note 9 - Staff Numbers and Costs (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Average number of employee [Text Block] | Year Ended June 30 Three Months Ended June 30 Year Ended March 31 2021 2020 2019 2019 Sales and Business Development 13 11 9 9 Central Services and Management 35 27 31 32 Production 164 171 139 138 Total 212 209 179 179 |
Aggregate remuneration costs [Text Block] | Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Salaries, wages and incentives 14,550 13,565 3,310 14,327 Social security costs 795 803 213 1,044 Pension contributions 850 792 185 788 Short-term compensated absences 1,200 1,296 406 1,254 Total 17,395 16,456 4,114 17,413 |
Key management personnel expenses [Text Block] | Year ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Salaries, wages and incentives 1,949 1,009 388 2,354 Social security costs 101 79 28 176 Pension contributions 64 36 13 45 Equity incentives 244 111 27 130 Short-term compensated absences 2 - - - Total 2,361 1,235 456 2,705 |
Note 10 - Finance Income and _2
Note 10 - Finance Income and Expense (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of finance income and expense [text block] | Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Finance income Foreign exchange gains 2,179 33 - - Interest received - - - 4 Total finance income 2,179 33 - 4 Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Finance expense Related party loan interest payable 1,986 1,653 387 1,588 Convertible loan notes and preference shares interest payable 1,228 1,185 307 1,284 Waived dividends and interest on convertible preference shares and loan notes (995 ) - - - Financing agreement finance cost payable - - - 206 Debtor invoice finance cost payable 97 174 51 164 Lease liabilities interest payable 92 95 22 1 Bank interest payable - - 6 - Provisions – unwinding of discount - - 42 - Foreign exchange losses 92 - (19 ) - Other finance costs 90 75 - - Total finance expense 2,590 3,182 796 3,243 |
Note 11 - Taxation (Tables)
Note 11 - Taxation (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Income tax expenses [Text Block] | Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Current tax U.K. corporation tax - - - 29 Foreign tax (848 ) 53 (162 ) (217 ) Total current tax (848 ) 53 (162 ) (188 ) Deferred tax Current year U.K. tax (51 ) (202 ) - 267 Foreign tax 1,014 (564 ) 70 (636 ) Total deferred tax 963 (766 ) 70 (369 ) Total income tax 115 (713 ) (92 ) (557 ) |
Reconciliation of accounting profit multiplied by applicable tax rates [Text Block] | Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Loss before income tax (8,073 ) (4,390 ) (1,354 ) (10,666 ) Group weighted average corporation tax rate 22.2 % 24.6 % 22.0 % 21.8 % Tax at standard rate 1,789 1,080 297 2,325 Effects of: Expenses that are not deductible for tax purposes (833 ) (106 ) (49 ) 41 Adjustment to prior year tax provisions. assets 137 - - (64 ) Deferred tax assets not recognized on tax losses (978 ) (1,687 ) (340 ) (2,859 ) Total income tax for the period Recognized in the Consolidated Statement of Comprehensive Income 115 (713 ) (92 ) (557 ) |
Deferred tax [Text Block] | As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Deferred tax assets 2,495 1,347 2,113 2,054 Deferred tax liabilities (411 ) - (1 ) (1 ) Net deferred tax asset 2,084 1,347 2,112 2,053 |
Deferred tax assets and liabilities [Text Block] | Deferred tax assets Tax losses Other timing differences Total March 31, 2019 1,005 1,049 2,054 Credit to comprehensive income - 59 59 June 30, 2019 1,005 1,108 2,113 Charged to comprehensive income (191 ) (575 ) (766 ) June 30, 2020 814 533 1,347 Credit to comprehensive income 776 109 885 Acquisitions 263 - 263 June 30, 2021 1,853 642 2,495 Deferred tax liabilities Accelerated allowances Other timing differences Total June 30, 2019 (1 ) - (1 ) Credit to comprehensive income 1 - 1 June 30, 2020 - - - Credit to comprehensive income - 78 78 Acquisitions of subsidiary (Note 12) - (489 ) (489 ) June 30, 2021 - (411 ) (411 ) |
Note 12 - Business Combination
Note 12 - Business Combination (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of detailed information about business combination [text block] | Purchase consideration (Amounts in thousands) EUR USD Cash consideration for 51% acquisition 4,000 4,916 (Amounts in thousands) EUR USD Cash and cash equivalents 4,021 4,942 Trade and other receivables 100 123 Inventory 594 730 Property, plant and equipment (Note 13) 167 206 Deferred tax asset (Note 11) 214 263 Trade and other payables (541 ) (665 ) Related party payable (1,024 ) (1,259 ) Other non-current liabilities (181 ) (222 ) Deferred income (578 ) (711 ) Deferred tax liability (Note 11) (398 ) (489 ) Remediation provision (282 ) (336 ) Fair value of identifiable net assets acquired 2,092 2,582 Non -controlling interests (49%) (1,025 ) (1,260 ) Net assets acquired 1,067 1,322 Cash consideration for 51% acquisition 4,000 4,916 Surplus on acquisition: 2,933 3,594 Allocated of surplus: Goodwill (Note 14a) 1,340 1,698 Other intangible assets (Note 14b) 1,593 1,896 2,933 3,594 Acquisition of Non-controlling interest: EUR USD Cash paid 1,800 2,173 Ordinary shares issued 197 237 Total consideration for non-controlling interest 1,997 2,410 Non-controlling interest acquired: At acquisition (1,025 ) (1,259 ) Loss attributable to non-controlling interest 319 387 At date of acquisition of non-controlling interest (706 ) (873 ) Surplus on acquisition of non-controlling interests 1,291 1,538 Purchase consideration - cash outflow (Amounts in thousands) EUR USD Outflow of cash to acquire subsidiary, net of cash acquired Cash consideration - 51% 4,000 4,916 Cash consideration - 49% 1,800 2,173 Less: Balances acquired Cash 4,021 4,942 Net outflow of cash - investing activities 1,779 2,147 (US dollars in thousands) Purchase consideration Cash - Fair value of pre-acquisition equity interest 5,393 Total consideration 5,393 Less: Fair value of acquired net assets: Cash 2 Deposits 990 Capitalized project development expenses (Note 14b) 12,249 13,241 Gain on bargain purchase - included in gain/(loss) on SES development (Note 5) 7,848 |
Note 13 - Property, Plant and_2
Note 13 - Property, Plant and Equipment (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of detailed information about property, plant and equipment [text block] | (US dollars in thousands) Computer Equipment Motor Vehicles Plant and Equipment Fixtures and Fittings Right-of- Use Assets Total Cost At March 31, 2019 543 1,629 1,029 176 - 3,377 Change in accounting policy (Note 2.18) - (371 ) - - 2,152 1,781 Restated at April 1, 2019 543 1,258 1,029 176 2,152 5,158 Foreign exchange (5 ) (13 ) (11 ) (2 ) (20 ) (51 ) Additions 7 45 222 16 110 400 Disposals - (8 ) - - - (8 ) At June 30, 2019 545 1,282 1,240 190 2,242 5,499 Foreign exchange (11 ) (26 ) (26 ) (4 ) (46 ) (113 ) Additions 36 359 189 9 570 1,163 Disposals (94 ) (252 ) (171 ) - (483 ) (1,000 ) At June 30, 2020 476 1,363 1,232 195 2,283 5,549 Foreign exchange 41 145 26 18 196 426 Additions 125 230 395 6 182 938 Acquisitions from business combinations - 4 114 - 88 206 Disposals (80 ) (174 ) (156 ) (97 ) (58 ) (565 ) At June 30, 2021 562 1,568 1,611 122 2,691 6,554 Depreciation Computer Equipment Motor Vehicles Plant and Equipment Fixtures and Fittings Right-of- use Assets Total At March 31, 2019 380 1,079 645 68 - 2,172 Change in accounting policy (Note 2.18) - (123 ) - - 318 195 Restated at April 1, 2019 380 956 645 68 318 2,367 Foreign exchange (3 ) (12 ) (7 ) - (3 ) (25 ) Charge for the period 27 1 17 6 163 214 Disposals - (8 ) - - - (8 ) At June 30, 2019 404 937 655 74 478 2,548 Foreign exchange (7 ) (15 ) (11 ) (1 ) (3 ) (37 ) Charge for the period 55 171 107 13 552 898 Disposals (79 ) (257 ) (4 ) - (16 ) (346 ) At June 30, 2020 373 836 747 86 1,021 3,063 Foreign exchange 31 85 70 8 77 271 Charge for the period 66 206 167 8 642 1,089 Disposals (71 ) (157 ) (112 ) (46 ) (58 ) (444 ) At June 30, 2021 399 970 872 56 1,682 3,979 Net book value Computer Equipment Motor Vehicles Plant and Equipment Fixtures and Fittings Right-of- use Assets Total At March 31, 2019 163 550 383 108 - 1,205 At June 30, 2019 141 344 585 116 1,764 2,951 At June 30, 2020 103 527 485 109 1,262 2,486 At June 30, 2021 163 598 739 66 1,009 2,575 |
Note 14 - Intangible Assets (Ta
Note 14 - Intangible Assets (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Intangible assets [Text Block] | As at June 30 Year ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Goodwill 25,794 21,919 22,387 22,622 Other intangible assets 21,655 7,930 9,375 9,744 Total 47,449 29,849 31,762 32,366 |
Goodwill [Text Block] | Goodwill As at June 30 Year ended March 31 (US dollars in thousands) 2021 2020 2019 2019 As at July 1 / April 1 21,919 22,387 22,622 24,482 Goodwill on acquisition of Tembo 1,698 - - - Foreign exchange 2,177 (468 ) (235 ) (1,860 ) Carrying value 25,794 21,919 22,387 22,622 |
Carrying amounts of goodwill by cash-generating units [Text Block] | As at June 30 Year ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Aevitas O Holdings Limited (allocated to the Critical Power Services segment) 13,658 12,483 12,751 12,884 VivoPower Pty Ltd (allocated to the Solar Development segment) 10,319 9,436 9,636 9,738 Tembo (allocated to the Electric Vehicle segment) 1,817 - - - Total 25,794 21,919 22,387 22,622 |
Other Intangible Assets [Text Block] | (US dollars in thousands) Customer Relationships Trade Names Favorable Supply Contracts Solar Projects Product Development Other Intangible Assets Total Intangible Assets Cost At March 31, 2019 5,097 2,476 4,229 - - 158 11,960 Foreign exchange (55 ) (26 ) (44 ) - - (1 ) (126 ) Additions - - - - - 12 12 Disposals (50 ) - - - - - (50 ) At June 30, 2019 4,992 2,450 4,185 - - 169 11,796 Foreign exchange (103 ) (51 ) (86 ) - - (4 ) (244 ) Additions 461 - - - - - 461 Disposals (968 ) - - - - (9 ) (977 ) At June 30, 2020 4,382 2,399 4,099 - - 156 11,036 Foreign exchange 411 225 385 - - 13 1,034 Additions 46 - - - 513 - 559 Acquisitions from business combinations 1,492 404 - 12,248 - - 14,144 Disposals (550 ) - - - - - (550 ) At June 30, 2021 5,781 3,028 4,484 12,248 513 169 26,223 Amortization Customer Relationships Trade Names Favorable Supply Contracts Solar Projects Product Development Other Intangible Assets Total Intangible Assets Cost At March 31, 2019 1,064 384 657 - - 111 2,216 Foreign exchange (6 ) (4 ) (7 ) - - (1 ) (18 ) Amortization 100 41 70 - - 12 223 At June 30, 2019 1,158 421 720 - - 122 2,421 Foreign exchange (24 ) (9 ) (15 ) - - (2 ) (50 ) Amortization 404 160 273 - - 31 868 Disposals (133 ) - - - - - (133 ) At June 30, 2020 1,405 572 978 - - 151 3,106 Foreign exchange 131 54 92 - - 18 295 Amortization 622 229 298 - 18 - 1,167 At June 30, 2021 2,158 855 1,368 - 18 169 4,568 Net book value Customer Relationships Trade Names Favorable Supply Contracts Solar Projects Product Development Other Intangible Assets Total Intangible Assets Cost At March 31, 2019 4,033 2,092 3,572 - - 47 9,744 At June 30, 2019 3,834 2,029 2,465 - - 47 9,375 At June 30, 2020 2,977 1,827 3,121 - - 5 7,930 At June 30, 2021 3,623 2,173 3,116 12,248 495 - 21,655 |
Note 15 - Investment in Subsi_2
Note 15 - Investment in Subsidiaries (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of subsidiaries [text block] | Subsidiary Undertakings Percentage of shares held Registered address VivoPower International Services Limited 100% 28 Esplanade, St Helier, Jersey, JE2 3QA VivoPower USA, LLC 100% VivoPower US-NC-31, LLC 100% VivoPower US-NC-47, LLC 100% 251 Little Falls Drive, Wilmington, DE, USA 19808 VivoPower (USA) Development, LLC 100% Caret, LLC (formerly Innovative Solar Ventures I, LLC) 100% VivoPower Pty Ltd 100% VivoPower WA Pty Ltd 100% VVP Project 1 Pty Limited 100% Amaroo Solar Pty. Ltd 100% Aevitas O Holdings Pty Ltd 100.0% 153 Walker St, North Sydney NSW, Australia 2060 Aevitas Group Limited 100% Aevitas Holdings Pty Ltd 100% Electrical Engineering Group Pty Limited 100% J.A. Martin Electrical Pty Limited 100% Kenshaw Electrical Pty Limited 100% |
Disclosure of associates [text block] | Subsidiary Undertakings Percentage of shares held Registered address VivoPower Philippines Inc. 64% Unit 10A, Net Lima Building, 5th Avenue cor. 26th Street, E-Square Zone, Crescent Park West, Bonifacio Global City, Taguig, Metro Manila VivoPower RE Solutions Inc. 64% V.V.P. Holdings Inc. * 40% Tembo e-LV B.V. 100% Tembo 4x4 e-LV B.V. 100% Hoek 54A, 5571GK, Bergeijk FD 4x4 Centre B.V. 100% Associate and Joint Venture Undertakings Percentage of shares held Registered address VVPR-ITP TopCo Pty Limited 50% 153 Walker St, North Sydney NSW, Australia 2060 |
Note 16 - Investments Account_2
Note 16 - Investments Accounted for Using The Equity Method (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Investments [Text Block] | As at June 30 As at March 31 (US dollars in thousands) % Owned 2021 2020 2019 2019 Caret, LLC (formerly Innovative Solar Ventures I, LLC) 50 % - 8,225 - - Total - 8,225 - - |
Note 17 - Cash and Cash Equiv_2
Note 17 - Cash and Cash Equivalents (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Cash and cash euivalents [Text Block] | As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Cash at bank and in hand 8,604 2,824 7,129 4,522 |
Disclosure of credit risk exposure [text block] | As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 A+ 5,423 - 252 17 A - - 233 14 A- 2 554 - - AA- 3,179 2,270 6,644 4,491 Total 8,604 2,824 7,129 4,522 |
Note 18 - Restricted Cash (Tabl
Note 18 - Restricted Cash (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of restricted cash and cash equivalents [text block] | As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Bank guarantee security deposit 1,140 1,013 632 816 Preferred supplier agreement escrow - - - 503 Total 1,140 1,013 632 1,319 |
Note 19 - Trade and Other Rec_2
Note 19 - Trade and Other Receivables (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Trade and other receivables [Text Block] | As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Current receivables Trade receivables 4,959 3,112 6,193 5,899 Contract assets 2,723 3,382 3,929 1,800 Prepayments 2,837 432 2,919 628 Other receivables 2,011 5,475 1,951 2,072 Current tax receivable 182 155 - - Total 12,712 12,556 14,992 10,399 |
Analysis of trade receivable [Text Block] | As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Trade and other receivables 4,959 3,119 6,195 5,929 Less: credit note provision - (7 ) (2 ) (30 ) Total 4,959 3,112 6,193 5,899 |
Credit risk for trade receivables by geographic region [Text Block] | As at June 30 2021 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 USA - - 108 78 United Kingdom - - - - Australia 4,349 3,112 6,085 5,821 Netherlands 610 - - - Total 4,959 3,112 6,193 5,899 |
Aging of trade receivables [Text Block] | As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 0-90 days 4,918 3,055 6,093 5,765 Greater than 90 days 41 57 100 134 Total 4,959 3,112 6,193 5,899 |
Note 20 - Inventory (Tables)
Note 20 - Inventory (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Description of inventory [text block] | As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Raw materials 1,537 - - - Total 1,537 - - - |
Note 21 - Assets Classified a_2
Note 21 - Assets Classified as Held for Sale (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Assets held for sale [text block] | As at June 30 As at March 31 (US dollars in thousands) % Owned 2021 2020 2019 2019 Caret, LLC (formerly Innovative Solar Ventures I, LLC) 50 % - 4,080 13,530 13,530 Total - 4,080 13,530 13,530 |
Disclosure of joint ventures [text block] | As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Capital commitment - 15,044 15,044 15,044 Commission credit - (770 ) (770 ) (770 ) Discontinued projects - (2,079 ) (847 ) (847 ) Acquisition costs - 110 103 103 Net assets - 12,305 13,530 13,530 As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Assets classified as held for sale - 4,080 13,530 13,530 Investments accounted for using the equity method - 8,225 - - Net assets - 12,305 13,530 13,530 As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Current assets - 2 1,187 1,187 Non-current assets - 23,277 27,107 27,107 Net assets - 23,279 28,294 28,294 As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Opening net assets 24,390 28,294 28,294 28,294 Commission credit - (1,546 ) - 1,514 Commission credit on abandonments - 144 - - Sundry income - 90 - - Project swaps - - - 281 Abandoned projects (13,900 ) (2,592 ) - (1,795 ) Acquisition of controlling interest (10,490 ) - - - Net assets - 24,390 28,294 28,294 VivoPower share in % N/A 50 % 50 % 50 % VivoPower share in $ (excluding funding obligation) - 12,195 14,148 14,148 Commission credit - - (721 ) (721 ) Acquisition costs - 110 103 103 Net Assets - 12,305 13,530 13,530 |
Note 22 - Trade and Other Pay_2
Note 22 - Trade and Other Payables (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Trade and other payables [Text Block] | As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Trade payables 4,325 4,807 5,554 5,675 Accruals 648 370 2,247 1,952 Related party payable - 504 1,527 1,378 Payroll liabilities 1,413 1,383 1,209 1,165 Sales tax payable 624 496 1,054 764 Contract liabilities 1,129 6,013 10,095 4,978 Other creditors 778 1,822 2,953 2,011 Total 8,917 15,395 24,639 17,923 |
Note 23 - Provisions (Tables)
Note 23 - Provisions (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Provisions [Text Block] | As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Current provisions Employee entitlements 1,802 1,561 1,510 1,459 Litigation 485 1,104 - - Warranty 209 232 - - Remediation 306 - - - Employee terminations - - 112 157 Onerous contracts - - 96 94 Total current provisions 2,802 2,897 1,718 1,710 Non-current provisions Employee entitlements 165 169 148 227 Onerous contracts - - 1,952 1,995 Total non-current provision 165 169 2,100 2,222 Total provisions 2,967 3,066 3,818 3,932 |
Disclosure of other provisions [text block] | (US dollars in thousands) Employee Entitlements Employee Terminations Remediation Onerous Contracts Litigation Warranty Total At March 31, 2019 1,686 158 - 2,088 - - 3,932 Foreign exchange (18 ) - - - - - (18 ) Additional provisions 146 - - - - - 146 Reverse unused provisions (41 ) - - - - - (41 ) Unwinding of discount - - - 42 - - 42 Provisions utilized (116 ) (45 ) - (82 ) - - (243 ) At June 30, 2019 1,657 113 - 2,048 - - 3,818 Foreign exchange (41 ) - - - - - (41 ) Additional provisions 1,659 176 - - 1,104 232 3,171 Reverse unused provisions (72 ) (28 ) - - - - (100 ) Disposals - - - (2,048 ) - - (2,048 ) Provisions utilized (1,473 ) (261 ) - - - - (1,734 ) At June 30, 2020 1,730 - - - 1,104 232 3,066 Foreign exchange 170 - - 14 184 Additional provisions 1,306 - 306 - 2,042 122 3,776 Reverse unused provisions (67 ) - - - - (112 ) (179 ) Provisions utilized (1,172 ) - - - (2,661 ) (47 ) (3,880 ) At June 30, 2021 1,967 - 306 - 485 209 2,967 |
Note 24 - Loans and Borrowings
Note 24 - Loans and Borrowings (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of detailed information about borrowings [text block] | As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Current liabilities Debtor invoice financing - 508 901 751 Lease liabilities 669 641 660 136 Shareholder loans - - 766 - Chattel mortgage 88 51 - - Project financing agreement 59 - - - Bank loan 152 66 - - Other borrowings 36 46 - - Total current liabilities 1,004 1,312 2,327 887 Non-current liabilities Lease liabilities 326 714 1,117 138 Shareholder loans 21,175 23,401 18,242 18,242 Chattel mortgage 244 249 - - Project financing agreement 183 - - - Bank loan 159 278 - - Total non-current liabilities 22,087 24,642 19,359 18,380 Total liabilities 23,091 25,954 21,686 19,267 |
Disclosure of detailed information about the maturity of borrowings [text block] | Minimum lease Payments Present value of minimum lease payments As at June 30 As at March 31 As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 2021 2020 2019 2019 Amounts payable under lease liabilities: Less than one year 683 695 692 147 669 641 660 136 Later than one year but not more than five 379 759 1,299 143 326 714 1,117 138 1,062 1,454 1,991 290 995 1,355 1,777 274 Future finance charges (67 ) (99 ) (214 ) (16 ) - - - - Total lease obligations 995 1,355 1,777 274 995 1,355 1,777 274 |
Note 25 - Called Up Share Cap_2
Note 25 - Called Up Share Capital (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Share capital [Text Block] | As at June 30 As at March 31 2021 2020 2019 2019 Allotted, called up and fully paid Ordinary shares of $ 0.012 $ 222,074 $ 162,689 $ 162,689 $ 162,689 Number allotted 18,506,064 13,557,376 13,557,376 13,557,376 Ordinary shares of $ 0.012 $ 222,074 $ 162,689 $ 162,689 $ 162,689 |
Share outstanding [Text Block] | Shares Par value Share premium Total No. USD 000 USD 000 USD 000 At March 31, 2019 13,557,376 163 40,215 40,378 At June 30, 2019 13,557,376 163 40,215 40,378 At June 30, 2020 13,557,376 163 40,215 40,378 Capital raises 1 4,091,019 49 34,317 34,366 THFC investment 2 49,750 1 499 500 Employee share scheme issues 3 792,126 9 961 970 Acquisition of non-controlling interest in subsidiary 4 15,793 - 237 237 At June 30, 2021 18,506,064 222 76,229 76,451 |
Note 26 - Other Reserves (Table
Note 26 - Other Reserves (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Other reserves [Text Block] | Other reserve movements (US dollars in thousands) Equity instruments 1 Preference shares 1 Shares pending issue 2 Capital raising costs 3 Equity incentive costs4 Share awards issuance4 Treasury shares 5 Share option reserve 6 Foreign exchange Total At March 31, 2019 26,090 - - (9,722 ) - - (246 ) 3,713 11 19,846 Equity instruments (3 ) - - - - - - - (3 ) Disposal of treasury shares - - - - - - 233 - - 233 At June 30, 2019 26,087 - - (9,722 ) - - (13 ) 3,713 11 20,076 Equity instruments 970 - - 1 - - - - 971 Other reserves - - - 3,713 17 - - (3,713 ) - 17 Employee share scheme - - - 326 - 13 - 5 344 At June 30, 2020 27,057 - - (6,009 ) 344 - - - 16 21,408 Conversion to Aevitas preference shares (2,998 ) 2,998 - - - - - - - - Interest on equity instruments 114 185 - - - - - - - 299 Equity instruments payments (3,317 ) (123 ) - - - - - - - (3,440 ) Conversion to ordinary shares pending issue in VivoPower International PLC (20,466 ) - 20,466 - - - - - - - Capital raising costs - - - (2,804 ) - - - - - (2,804 ) Share issuance costs - -- (15 ) - - - - - (15 ) Equity incentives cost less shares issued - - - - 1,078 (971 ) - - - 107 Other movements (390 ) 210 - - - - - - (61 ) (241 ) At June 30, 2021 - 3,270 20,466 (8,828 ) 1,422 (971 ) - - (45 ) 15,314 |
Note 27 - Earnings Per Share (T
Note 27 - Earnings Per Share (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Earnings per share [text block] | Year Ended June 30 Three Months Ended June 30 Year Ended March 31 (US dollars in thousands) 2021 2020 2019 2019 Loss for the year / period attributable to equity owners (7,571 ) (5,103 ) (1,446 ) (11,223 ) Weighted average number of shares in issue (‘000s) 16,307 13,557 13,557 13,557 Basic earnings/(loss) per share (dollars) (0.46 ) (0.38 ) (0.11 ) (0.83 ) Diluted earnings/(loss) per share (dollars) (0.46 ) (0.38 ) (0.11 ) (0.83 ) |
Note 29 - Financial Instrumen_2
Note 29 - Financial Instruments (Tables) | 12 Months Ended |
Jun. 30, 2021 | |
Statement Line Items [Line Items] | |
Disclosure of detailed information about financial instruments [text block] | As at June 30 As at March 31 (US dollars in thousands) 2021 2020 2019 2019 Financial assets at amortized cost Trade and other receivables 6,970 8,587 8,144 7,971 Cash and cash equivalents 8,604 2,824 7,129 4,522 Restricted cash 1,140 1,013 632 1,319 Total 16,714 12,424 15,905 13,812 Financial liabilities at amortized cost Loans and borrowings 23,091 25,954 21,686 19,267 Trade and other payables 5,751 7,504 12,281 11,016 Total 28,842 33,458 33,967 30,283 |
Disclosure of detailed information about the maturity of financial liabilities [text block] | Year Ended June 30, 2021 (US dollars in thousands) Total Less than 1 year 1-3 years 3-5 years More than 5 years Contractual maturity of financial liabilities Trade and other payables (financial liabilities) 5,751 5,751 - - - Borrowings 22,096 411 11,424 10,261 - Lease liabilities 995 669 326 - - Total 28,842 6,831 11,750 10,261 - Year Ended June 30, 2020 (US dollars in thousands) Total Less than 1 year 1-3 years 3-5 years More than 5 years Contractual maturity of financial liabilities Trade and other payables (financial liabilities) 7,504 7,504 - - - Borrowings 24,598 688 23,873 37 - Lease liabilities 1,356 649 654 53 - Total 33,458 8,841 24,527 90 - Year Ended June 30, 2019 (US dollars in thousands) Total Less than 1 year 1-3 years 3-5 years More than 5 years Contractual maturity of financial liabilities Trade and other payables (financial liabilities) 12,281 12,281 - - - Borrowings 23,397 3,859 19,538 - - Lease liabilities 1,991 692 1,077 222 - Total 37,669 16,832 20,615 222 - Year Ended March 31, 2019 (US dollars in thousands) Total Less than 1 year 1-3 years 3-5 years More than 5 years Contractual maturity of financial liabilities Trade and other payables (financial liabilities) 11,016 11,016 - - - Borrowings 22,480 2,556 19,924 - - Lease liabilities 290 147 143 - - Total 33,786 13,719 20,067 - - |
Non-cash Investing and Financ_2
Non-cash Investing and Financing Transaction Comprise (Details Textual) € in Thousands, $ in Thousands | Jun. 30, 2021USD ($) | Feb. 02, 2021USD ($)shares | Jun. 30, 2021USD ($)shares | Jun. 30, 2020USD ($) | Feb. 02, 2021EUR (€) | Nov. 05, 2020USD ($) | |
Statement Line Items [Line Items] | |||||||
Increase (decrease) in number of shares outstanding, share-based payment transactions (in shares) | shares | [1] | 792,126 | |||||
Increase (decrease) through share-based payment transactions, equity | $ | $ 1,077 | $ 344 | |||||
Increase (decrease) in number of shares outstanding, business combination (in shares) | shares | [2] | 15,793 | |||||
Increase (decrease) through conversion of convertible instruments, equity | $ | $ 20,500 | $ 20,500 | |||||
Aevitas O Holdings Pty Ltd [member] | |||||||
Statement Line Items [Line Items] | |||||||
Increase (decrease) through conversion of convertible instruments, equity | $ | $ 3,000 | ||||||
Tembo e-LV B.V. [member] | |||||||
Statement Line Items [Line Items] | |||||||
Increase (decrease) in number of shares outstanding, business combination (in shares) | shares | 15,793 | ||||||
Equity interests of acquirer | $ 237 | € 197 | $ 200 | ||||
[1] | 792,126 shares were issued to employees and directors of the Company and consultants to the Company under the Omnibus Incentive Plan during the year. | ||||||
[2] | In February 2021, 15,793 restricted ordinary shares were issued as part consideration for the purchase of the non-controlling interest in Tembo e-LV B.V. |
Note 1 - Reporting Entity (Deta
Note 1 - Reporting Entity (Details Textual) - AWN Holdings Limited [member] | Jul. 21, 2021 | Jun. 30, 2021 |
Statement Line Items [Line Items] | ||
Proportion of ownership interests held in the entity | 44.00% | |
Major ordinary share transactions [member] | ||
Statement Line Items [Line Items] | ||
Proportion of ownership interests held in the entity | 49.10% |
Note 2 - Significant Accounti_2
Note 2 - Significant Accounting Policies (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Mar. 31, 2018 | |
Statement Line Items [Line Items] | |||||
Total cash and cash equivalents | $ 8,604 | $ 2,824 | $ 7,129 | $ 4,522 | $ 1,939 |
Computer equipment [member] | |||||
Statement Line Items [Line Items] | |||||
Useful Lives of Property, Plant and Equipment (Year) | 3 years | ||||
Motor vehicles [member] | |||||
Statement Line Items [Line Items] | |||||
Useful Lives of Property, Plant and Equipment (Year) | 5 years | ||||
Favorable supply contracts [Member] | |||||
Statement Line Items [Line Items] | |||||
Useful Lives of Intangible Assets (Year) | 15 years | ||||
Technology-based intangible assets [member] | |||||
Statement Line Items [Line Items] | |||||
Useful Lives of Intangible Assets (Year) | 5 years | ||||
ISS Joint Venture [member] | |||||
Statement Line Items [Line Items] | |||||
Percentage of voting equity interests acquired | 50.00% | ||||
Bottom of range [member] | |||||
Statement Line Items [Line Items] | |||||
Net additional funding requirement | $ 15,000 | ||||
Bottom of range [member] | Fixtures and fittings [member] | |||||
Statement Line Items [Line Items] | |||||
Useful Lives of Property, Plant and Equipment (Year) | 3 years | ||||
Bottom of range [member] | Plant and Equipment [Member] | |||||
Statement Line Items [Line Items] | |||||
Useful Lives of Property, Plant and Equipment (Year) | 3 years 6 months | ||||
Bottom of range [member] | Capitalised development expenditure [member] | |||||
Statement Line Items [Line Items] | |||||
Useful Lives of Intangible Assets (Year) | 5 years | ||||
Bottom of range [member] | Customer-related intangible assets [member] | |||||
Statement Line Items [Line Items] | |||||
Useful Lives of Intangible Assets (Year) | 5 years | ||||
Bottom of range [member] | Brand names [member] | |||||
Statement Line Items [Line Items] | |||||
Useful Lives of Intangible Assets (Year) | 15 years | ||||
Top of range [member] | Fixtures and fittings [member] | |||||
Statement Line Items [Line Items] | |||||
Useful Lives of Property, Plant and Equipment (Year) | 20 years | ||||
Top of range [member] | Plant and Equipment [Member] | |||||
Statement Line Items [Line Items] | |||||
Useful Lives of Property, Plant and Equipment (Year) | 10 years | ||||
Top of range [member] | Capitalised development expenditure [member] | |||||
Statement Line Items [Line Items] | |||||
Useful Lives of Intangible Assets (Year) | 10 years | ||||
Top of range [member] | Customer-related intangible assets [member] | |||||
Statement Line Items [Line Items] | |||||
Useful Lives of Intangible Assets (Year) | 10 years | ||||
Top of range [member] | Brand names [member] | |||||
Statement Line Items [Line Items] | |||||
Useful Lives of Intangible Assets (Year) | 25 years |
Note 3 - Significant Accounti_2
Note 3 - Significant Accounting Judgements and Estimates (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Total provisions | $ 2,967 | $ 3,066 | $ 3,818 | $ 3,932 |
Deferred tax assets for unused tax losses | 1,900 | 800 | $ 1,005 | $ 1,005 |
Litigation provision [member] | ||||
Statement Line Items [Line Items] | ||||
Total provisions | $ 480 | $ 1,100 |
Note 4 - Revenue and Segmenta_3
Note 4 - Revenue and Segmental Information (Details Textual) | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | |
Statement Line Items [Line Items] | ||||
Number of Operating Segments | 5 | |||
Number of major customers representing more than 10 percent of revenue | 1 | 0 | 1 | 1 |
Note 4 - Revenue and Segmenta_4
Note 4 - Revenue and Segmental Information - Revenue by Geographic Location (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | |
Statement Line Items [Line Items] | ||||
Revenue | $ 13,617 | $ 40,411 | $ 47,986 | $ 39,036 |
Australia 1 [Member] | ||||
Statement Line Items [Line Items] | ||||
Revenue | 13,507 | 39,018 | 47,983 | 37,889 |
United States 1 [member] | ||||
Statement Line Items [Line Items] | ||||
Revenue | 110 | 0 | 0 | 1,147 |
The Netherlands [Member] | ||||
Statement Line Items [Line Items] | ||||
Revenue | 0 | 1,393 | 0 | 0 |
United Kingdom 1 [member] | ||||
Statement Line Items [Line Items] | ||||
Revenue | $ 0 | $ 0 | $ 3 | $ 0 |
Note 4 - Revenue and Segmenta_5
Note 4 - Revenue and Segmental Information - Revenue by Product and Service (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | |
Statement Line Items [Line Items] | ||||
Revenue | $ 13,617 | $ 40,411 | $ 47,986 | $ 39,036 |
Electrical equipment and related services [member] | ||||
Statement Line Items [Line Items] | ||||
Revenue | 13,484 | 38,832 | 47,917 | 37,799 |
Development fees [member] | ||||
Statement Line Items [Line Items] | ||||
Revenue | 0 | 185 | 69 | 90 |
Conversion kits [member] | ||||
Statement Line Items [Line Items] | ||||
Revenue | 0 | 137 | 0 | 0 |
Vehicle spec conversion [member] | ||||
Statement Line Items [Line Items] | ||||
Revenue | 0 | 1,219 | 0 | 0 |
Accessories [member] | ||||
Statement Line Items [Line Items] | ||||
Revenue | 0 | 38 | 0 | 0 |
Other [member] | ||||
Statement Line Items [Line Items] | ||||
Revenue | $ 133 | $ 0 | $ 0 | $ 1,147 |
Note 4 - Revenue and Segmenta_6
Note 4 - Revenue and Segmental Information - Segment Analysis (Details) - USD ($) $ in Thousands | May 25, 2018 | Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 |
Statement Line Items [Line Items] | |||||
Revenue from contracts with customers | $ 13,617 | $ 40,411 | $ 47,986 | $ 39,036 | |
Costs of sales | (11,960) | (34,084) | (40,885) | (32,726) | |
Gross profit | 1,657 | 6,327 | 7,101 | 6,310 | |
General and administrative expenses | (1,291) | (11,133) | (5,479) | (7,685) | |
Gain on solar development - net | $ 400 | 38 | 769 | 1,589 | (2,615) |
Other income | 0 | 1,511 | 724 | 0 | |
Depreciation and amortization | (437) | (2,256) | (1,766) | (1,420) | |
Operating profit/(loss) | (33) | (4,782) | 2,169 | (5,410) | |
Restructuring and other non-recurring costs | (525) | (2,880) | (3,410) | (2,017) | |
Finance income | 0 | 2,179 | 33 | 4 | |
Finance expense | (796) | (2,590) | (3,149) | (3,239) | |
Profit/(loss) before income tax | (1,354) | (8,073) | (4,390) | (10,666) | |
Income tax | (92) | 115 | (713) | (557) | |
Loss for the year | (1,446) | (7,958) | (5,103) | (11,223) | |
Assets | 73,109 | 76,512 | 62,380 | 65,395 | |
Liabilities | (50,593) | (36,094) | (44,490) | (41,410) | |
Net assets/(liabilities) | 22,516 | 40,418 | 17,890 | 23,985 | |
Critical Power Services segment [member] | |||||
Statement Line Items [Line Items] | |||||
Revenue from contracts with customers | 13,484 | 38,832 | 47,914 | 37,800 | |
Costs of sales | (11,864) | (32,792) | (40,865) | (32,317) | |
Gross profit | 1,620 | 6,040 | 7,049 | 5,483 | |
General and administrative expenses | (567) | (3,004) | (2,745) | (2,823) | |
Gain on solar development - net | 5 | 36 | 41 | (30) | |
Other income | 1,511 | 724 | |||
Depreciation and amortization | (422) | (1,902) | (1,718) | (1,272) | |
Operating profit/(loss) | 636 | 2,681 | 3,351 | 1,358 | |
Restructuring and other non-recurring costs | (15) | (27) | (124) | (8) | |
Finance income | 2,163 | ||||
Finance expense | (358) | (476) | (1,436) | (1,354) | |
Profit/(loss) before income tax | 263 | 4,341 | 1,791 | (4) | |
Income tax | (92) | (714) | 15 | (572) | |
Loss for the year | 171 | 3,627 | 1,806 | (576) | |
Assets | 45,881 | 35,604 | 38,519 | 35,472 | |
Liabilities | (21,171) | (9,442) | (14,481) | (13,603) | |
Net assets/(liabilities) | 24,710 | 26,162 | 24,038 | 21,869 | |
Sustainable Energy Solutions segment [member] | |||||
Statement Line Items [Line Items] | |||||
Revenue from contracts with customers | 133 | 185 | 69 | 1,236 | |
Costs of sales | (96) | 0 | (20) | (409) | |
Gross profit | 37 | 185 | 49 | 827 | |
General and administrative expenses | (206) | (1,309) | (469) | (2,148) | |
Gain on solar development - net | 41 | 733 | 1,548 | (2,585) | |
Other income | 0 | 0 | |||
Depreciation and amortization | (14) | (4) | (45) | (140) | |
Operating profit/(loss) | (142) | (395) | 1,083 | (4,043) | |
Restructuring and other non-recurring costs | (39) | 0 | (1,296) | 7 | |
Finance income | 0 | ||||
Finance expense | (49) | (24) | (9) | (221) | |
Profit/(loss) before income tax | (230) | (419) | (222) | (4,260) | |
Income tax | 0 | 96 | (728) | 15 | |
Loss for the year | (230) | (323) | (950) | (4,245) | |
Assets | 26,534 | 24,693 | 22,965 | 29,538 | |
Liabilities | (5,766) | (767) | (1,697) | (6,085) | |
Net assets/(liabilities) | 20,768 | 23,926 | 21,268 | 23,453 | |
Electric Vehicles segment [member] | |||||
Statement Line Items [Line Items] | |||||
Revenue from contracts with customers | 0 | 1,394 | 0 | 0 | |
Costs of sales | 0 | (1,292) | 0 | 0 | |
Gross profit | 0 | 102 | 0 | 0 | |
General and administrative expenses | 0 | (1,923) | 0 | 0 | |
Gain on solar development - net | 0 | 0 | 0 | 0 | |
Other income | 0 | 0 | |||
Depreciation and amortization | 0 | (346) | 0 | 0 | |
Operating profit/(loss) | 0 | (2,167) | 0 | 0 | |
Restructuring and other non-recurring costs | 0 | (631) | 0 | 0 | |
Finance income | 10 | ||||
Finance expense | 0 | (11) | 0 | 0 | |
Profit/(loss) before income tax | 0 | (2,799) | 0 | 0 | |
Income tax | 0 | 733 | 0 | 0 | |
Loss for the year | 0 | (2,066) | 0 | 0 | |
Assets | 0 | 9,027 | 0 | 0 | |
Liabilities | 0 | (2,093) | 0 | 0 | |
Net assets/(liabilities) | 0 | 6,934 | 0 | 0 | |
Corporate office segment [member] | |||||
Statement Line Items [Line Items] | |||||
Revenue from contracts with customers | 0 | 0 | 3 | 0 | |
Costs of sales | 0 | 0 | 0 | 0 | |
Gross profit | 0 | 0 | 3 | 0 | |
General and administrative expenses | (518) | (4,897) | (2,265) | (2,714) | |
Gain on solar development - net | (8) | 0 | 0 | 0 | |
Other income | 0 | 0 | |||
Depreciation and amortization | (1) | (4) | (3) | (8) | |
Operating profit/(loss) | (527) | (4,901) | (2,265) | (2,722) | |
Restructuring and other non-recurring costs | (471) | (2,222) | (1,990) | (2,016) | |
Finance income | 6 | ||||
Finance expense | (389) | (2,079) | (1,704) | (1,664) | |
Profit/(loss) before income tax | (1,387) | (9,196) | (5,959) | (6,402) | |
Income tax | 0 | 0 | 0 | 0 | |
Loss for the year | (1,387) | (9,196) | (5,959) | (6,402) | |
Assets | 694 | 7,188 | 896 | 385 | |
Liabilities | (23,656) | (23,792) | (28,312) | (21,722) | |
Net assets/(liabilities) | $ (22,962) | $ (16,604) | $ (27,416) | $ (21,337) |
Note 5 - Gain (Loss) on SES D_3
Note 5 - Gain (Loss) on SES Development (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 01, 2021 | Jul. 02, 2019 | May 25, 2018 | Feb. 28, 2021 | Oct. 31, 2019 | Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | Mar. 31, 2018 |
Statement Line Items [Line Items] | |||||||||||
Net gains (losses) on disposals of property, plant and equipment | $ 400 | $ 38 | $ 769 | $ 1,589 | $ (2,615) | ||||||
Total intangible assets and goodwill | $ 47,449 | 31,762 | 47,449 | 29,849 | 32,366 | ||||||
Total contract liabilities | 1,129 | 10,095 | 1,129 | 6,013 | 4,978 | ||||||
Profit (loss) from operating activities | (33) | (4,782) | 2,169 | (5,410) | |||||||
Total intangible assets other than goodwill | $ 21,655 | 9,375 | $ 21,655 | 7,930 | 9,744 | ||||||
Proceeds from sales of investments other than investments accounted for using equity method | $ 11,400 | ||||||||||
NC-31 project [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Percentage of equity interests sold | 14.50% | ||||||||||
NC-47 project [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Percentage of equity interests sold | 10.00% | ||||||||||
Sun connect portfolio [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Net gains (losses) on disposals of property, plant and equipment | $ 300 | ||||||||||
Consideration paid (received) | 1,000 | ||||||||||
Other liabilities | $ 100 | ||||||||||
Ownership percentage of investment | 100.00% | ||||||||||
Total intangible assets other than goodwill | $ 800 | ||||||||||
ISS Joint Venture [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Percentage of voting equity interests acquired | 50.00% | 50.00% | |||||||||
Consideration transferred, acquisition-date fair value, including pre-acquisition equity interest | $ 5,400 | $ 5,400 | |||||||||
Net identifiable assets acquired (liabilities assumed) | 13,200 | 13,200 | |||||||||
Gain recognised in bargain purchase transaction | $ 7,800 | 0 | 7,848 | 0 | 0 | ||||||
Discontinued solar development projects in ISS Joint Venture [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Net gains (losses) on disposals of property, plant and equipment | 0 | (6,950) | (1,675) | (868) | |||||||
Solar projects in Australia [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Net gains (losses) on disposals of property, plant and equipment | $ 500 | 0 | (165) | 496 | (247) | ||||||
Contracts related to SREC's from NC projects [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Net gains (losses) on disposals of property, plant and equipment | (1,900) | ||||||||||
Amaroo solar project in Australia [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Net gains (losses) on disposals of property, plant and equipment | 300 | ||||||||||
NC projects [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Net gains (losses) on disposals of property, plant and equipment | 400 | ||||||||||
Yoogali Solar Farm Pty Ltd [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Proportion of ownership interest in subsidiary | 50.00% | ||||||||||
Net gains (losses) on disposals of property, plant and equipment | $ (200) | ||||||||||
Total intangible assets and goodwill | $ 200 | ||||||||||
Daisy Hill Solar Farm Pty Ltd [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Net gains (losses) on disposals of property, plant and equipment | $ 100 | ||||||||||
VivoRex LLC [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Proportion of ownership interest in subsidiary | 100.00% | ||||||||||
Net gains (losses) on disposals of property, plant and equipment | 0 | $ 0 | 2,768 | (1,902) | |||||||
Consideration paid (received) | $ (1,000) | ||||||||||
Gains (losses) on disposal of contract obligations | 2,800 | ||||||||||
Total contract liabilities | 2,500 | ||||||||||
Other liabilities | 500 | ||||||||||
Cash and other current assets | $ 200 | ||||||||||
Profit (loss) from operating activities | $ 100 | $ 0 | $ 1,959 | $ 645 |
Note 5 - Gain (Loss) on SES D_4
Note 5 - Gain (Loss) on SES Development - Gain (Loss) on Solar Development (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | May 25, 2018 | Oct. 31, 2019 | Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 |
Statement Line Items [Line Items] | |||||||
Total gain/(loss) on solar development | $ 400 | $ 38 | $ 769 | $ 1,589 | $ (2,615) | ||
ISS Joint Venture [member] | |||||||
Statement Line Items [Line Items] | |||||||
Gain on acquisition of remaining 50% ISV from ISS | $ 7,800 | 0 | 7,848 | 0 | 0 | ||
Solar projects in Australia [member] | |||||||
Statement Line Items [Line Items] | |||||||
Total gain/(loss) on solar development | $ 500 | 0 | (165) | 496 | (247) | ||
Discontinued solar development projects in ISS Joint Venture [member] | |||||||
Statement Line Items [Line Items] | |||||||
Total gain/(loss) on solar development | 0 | (6,950) | (1,675) | (868) | |||
NC projects 1 [member] | |||||||
Statement Line Items [Line Items] | |||||||
Total gain/(loss) on solar development | 0 | 0 | 0 | 402 | |||
Other [member] | |||||||
Statement Line Items [Line Items] | |||||||
Total gain/(loss) on solar development | 38 | 36 | 0 | 0 | |||
VivoRex LLC [member] | |||||||
Statement Line Items [Line Items] | |||||||
Total gain/(loss) on solar development | $ 0 | $ 0 | $ 2,768 | $ (1,902) |
Note 6 - Other Income (Details
Note 6 - Other Income (Details Textual) $ in Millions | 12 Months Ended |
Jun. 30, 2020USD ($) | |
Statement Line Items [Line Items] | |
Income from jobkeeper allowance | $ 0.7 |
Note 7 - Operating Profit (Lo_3
Note 7 - Operating Profit (Loss) - Charges to Operating Profit (Details) - USD ($) $ in Thousands | May 25, 2018 | Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 |
Statement Line Items [Line Items] | |||||
Amortization of intangible assets | $ 223 | $ 1,167 | $ 868 | $ 990 | |
Depreciation of property, plant and equipment | 214 | 1,089 | 898 | 430 | |
Gain on foreign exchange | 0 | 2,179 | 33 | 0 | |
Auditors’ remuneration – audit fees | 97 | 163 | 161 | 253 | |
Auditors’ remuneration – audit related services | 0 | 0 | 0 | 26 | |
Auditors’ remuneration – tax services | 0 | 12 | 11 | 28 | |
Directors’ emoluments | 104 | 676 | 398 | 611 | |
Loss/(gain) on disposal of solar development | $ (400) | (38) | (769) | (1,589) | 2,615 |
Land and buildings [member] | |||||
Statement Line Items [Line Items] | |||||
Operating lease costs – land and buildings | 0 | 0 | 0 | 548 | |
Vehicles [member] | |||||
Statement Line Items [Line Items] | |||||
Operating lease costs – land and buildings | 0 | 0 | 0 | 65 | |
Other property, plant and equipment [member] | |||||
Statement Line Items [Line Items] | |||||
Operating lease costs – land and buildings | $ 0 | $ 0 | $ 0 | $ 33 |
Note 8 - Restructuring and Ot_3
Note 8 - Restructuring and Other Non-recurring Costs (Details Textual) - USD ($) $ in Millions | 3 Months Ended | 12 Months Ended |
Feb. 02, 2021 | Jun. 30, 2021 | |
Tembo e-LV B.V. [member] | ||
Statement Line Items [Line Items] | ||
Acquisition-related costs recognised as expense for transaction recognised separately from acquisition of assets and assumption of liabilities in business combination | $ 0.6 | $ 0.6 |
Note 8 - Restructuring and Ot_4
Note 8 - Restructuring and Other Non-recurring Costs - Restructuring Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | |
Statement Line Items [Line Items] | ||||
Corporate restructuring – workforce reduction | $ 525 | $ 2,880 | $ 3,410 | $ 2,017 |
Corporate restructuring – litigation | 525 | 2,880 | 3,410 | 2,017 |
Restructuring provision, workforce reduction [member] | ||||
Statement Line Items [Line Items] | ||||
Corporate restructuring – workforce reduction | 0 | 0 | 163 | 102 |
Corporate restructuring – litigation | 0 | 0 | 163 | 102 |
Restructuring provision, litigation provision [member] | ||||
Statement Line Items [Line Items] | ||||
Corporate restructuring – workforce reduction | 0 | 2,042 | 1,104 | 0 |
Corporate restructuring – litigation | 0 | 2,042 | 1,104 | 0 |
Restructuring provision, professional fees [member] | ||||
Statement Line Items [Line Items] | ||||
Corporate restructuring – workforce reduction | 518 | 179 | 1,031 | 1,776 |
Corporate restructuring – litigation | 518 | 179 | 1,031 | 1,776 |
Project review and investigation costs [member] | ||||
Statement Line Items [Line Items] | ||||
Corporate restructuring – workforce reduction | 7 | 0 | 1,112 | 139 |
Corporate restructuring – litigation | 7 | 0 | 1,112 | 139 |
Relocation costs [member] | ||||
Statement Line Items [Line Items] | ||||
Corporate restructuring – workforce reduction | 0 | 27 | 0 | 0 |
Corporate restructuring – litigation | 0 | 27 | 0 | 0 |
Acquisition related costs [member] | ||||
Statement Line Items [Line Items] | ||||
Corporate restructuring – workforce reduction | 0 | 632 | 0 | 0 |
Corporate restructuring – litigation | $ 0 | $ 632 | $ 0 | $ 0 |
Note 9 - Staff Numbers and Co_3
Note 9 - Staff Numbers and Costs (Details Textual) | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019USD ($) | Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | Mar. 31, 2019USD ($) | |
Statement Line Items [Line Items] | ||||
Key management personnel compensation, short-term employee benefits | $ 388,000 | $ 1,949,000 | $ 1,009,000 | $ 2,354,000 |
Directors [Member] | ||||
Statement Line Items [Line Items] | ||||
Key management personnel compensation, short-term employee benefits | 103,925 | 675,806 | 536,979 | 611,450 |
Highest Paid Director [Member] | ||||
Statement Line Items [Line Items] | ||||
Key management personnel compensation, short-term employee benefits | $ 62,136 | $ 92,119 | $ 205,673 | $ 254,084 |
Key management personnel of entity or parent [member] | ||||
Statement Line Items [Line Items] | ||||
Number of employees | 10 | 10 | 7 | 10 |
Note 9 - Staff Numbers and Co_4
Note 9 - Staff Numbers and Costs - Average Number of Employees (Details) | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | |
Statement Line Items [Line Items] | ||||
Average number of employees | 179 | 212 | 209 | 179 |
Sales and Business Development [Member] | ||||
Statement Line Items [Line Items] | ||||
Average number of employees | 9 | 13 | 11 | 9 |
Central Services and Management [Member] | ||||
Statement Line Items [Line Items] | ||||
Average number of employees | 31 | 35 | 27 | 32 |
Production [Member] | ||||
Statement Line Items [Line Items] | ||||
Average number of employees | 139 | 164 | 171 | 138 |
Note 9 - Staff Numbers and Co_5
Note 9 - Staff Numbers and Costs - Aggregate Remuneration Costs (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | |
Statement Line Items [Line Items] | ||||
Salaries, wages and incentives | $ 3,310 | $ 14,550 | $ 13,565 | $ 14,327 |
Social security costs | 213 | 795 | 803 | 1,044 |
Pension contributions | 185 | 850 | 792 | 788 |
Short-term compensated absences | 406 | 1,200 | 1,296 | 1,254 |
Total | $ 4,114 | $ 17,395 | $ 16,456 | $ 17,413 |
Note 9 - Staff Numbers and Co_6
Note 9 - Staff Numbers and Costs - Key Management Personnel Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | |
Statement Line Items [Line Items] | ||||
Salaries, wages and incentives | $ 388 | $ 1,949 | $ 1,009 | $ 2,354 |
Social security costs | 28 | 101 | 79 | 176 |
Pension contributions | 13 | 64 | 36 | 45 |
Equity incentives | 27 | 244 | 111 | 130 |
Short-term compensated absences | 0 | 2 | 0 | 0 |
Total | $ 456 | $ 2,361 | $ 1,235 | $ 2,705 |
Note 10 - Finance Income and _3
Note 10 - Finance Income and Expense (Details Textual) $ in Millions | 12 Months Ended |
Jun. 30, 2021USD ($) | |
Statement Line Items [Line Items] | |
Interest paid | $ 5.3 |
Aevitas convertible preference shares and convertible loan notes from prior periods [member] | |
Statement Line Items [Line Items] | |
Interest paid | $ 2.2 |
Note 10 - Finance Income and _4
Note 10 - Finance Income and Expense - Finance Income and Expense (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | |
Statement Line Items [Line Items] | ||||
Foreign exchange gains | $ 0 | $ 2,179 | $ 33 | $ 0 |
Interest received | 0 | 0 | 0 | 4 |
Total finance income | 0 | 2,179 | 33 | 4 |
Related party loan interest payable | 387 | 1,986 | 1,653 | 1,588 |
Convertible loan notes and preference shares interest payable | 307 | 1,228 | 1,185 | 1,284 |
Waived dividends and interest on convertible preference shares and loan notes | 0 | (995) | 0 | 0 |
Financing agreement finance cost payable | 0 | 0 | 0 | 206 |
Debtor invoice finance cost payable | 51 | 97 | 174 | 164 |
Lease liabilities interest payable | 22 | 92 | 95 | 1 |
Bank interest payable | 6 | 0 | 0 | 0 |
Provisions – unwinding of discount | 42 | 0 | 0 | 0 |
Foreign exchange losses | (19) | 92 | 0 | 0 |
Other finance costs | 0 | 90 | 75 | 0 |
Total finance expense | $ 796 | $ 2,590 | $ 3,182 | $ 3,243 |
Note 11 - Taxation - Tax Charge
Note 11 - Taxation - Tax Charge (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | |
Statement Line Items [Line Items] | ||||
Current tax | $ (162) | $ (848) | $ 53 | $ (188) |
Deferred tax | 70 | 963 | (766) | (369) |
Recognized in the Consolidated Statement of Comprehensive Income | (92) | 115 | (713) | (557) |
Country of domicile [member] | ||||
Statement Line Items [Line Items] | ||||
Current tax | 0 | 0 | 0 | 29 |
Deferred tax | 0 | (51) | (202) | 267 |
Foreign countries [member] | ||||
Statement Line Items [Line Items] | ||||
Current tax | (162) | (848) | 53 | (217) |
Deferred tax | $ 70 | $ 1,014 | $ (564) | $ (636) |
Note 11 - Taxation - Reconcilia
Note 11 - Taxation - Reconciliation of Income Tax Expenses (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | |
Statement Line Items [Line Items] | ||||
Loss before income tax | $ (1,354) | $ (8,073) | $ (4,390) | $ (10,666) |
Group weighted average corporation tax rate | 22.00% | 22.20% | 24.60% | 21.80% |
Tax at standard rate | $ 297 | $ 1,789 | $ 1,080 | $ 2,325 |
Expenses that are not deductible for tax purposes | (49) | (833) | (106) | 41 |
Adjustment to prior year tax provisions. assets | 0 | 137 | 0 | (64) |
Deferred tax assets not recognized on tax losses | (340) | (978) | (1,687) | (2,859) |
Recognized in the Consolidated Statement of Comprehensive Income | $ (92) | $ 115 | $ (713) | $ (557) |
Note 11 - Taxation - Deferred T
Note 11 - Taxation - Deferred Tax (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Deferred tax assets | $ 2,495 | $ 1,347 | $ 2,113 | $ 2,054 |
Deferred tax liabilities | (411) | 0 | (1) | (1) |
Net deferred tax asset | $ 2,084 | $ 1,347 | $ 2,112 | $ 2,053 |
Note 11 - Taxation - Deferred_2
Note 11 - Taxation - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | |
Statement Line Items [Line Items] | |||
Deferred tax assets liabilities, balance | $ 2,053 | $ 1,347 | $ 2,112 |
Deferred tax assets liabilities, balance | 2,112 | 2,084 | 1,347 |
Deferred Tax Liabilities [Member] | |||
Statement Line Items [Line Items] | |||
Deferred tax assets liabilities, balance | 0 | (1) | |
Credit to comprehensive income | 78 | 1 | |
Acquisitions | (489) | ||
Deferred tax assets liabilities, balance | (1) | (411) | 0 |
Deferred Tax Assets [Member] | |||
Statement Line Items [Line Items] | |||
Deferred tax assets liabilities, balance | 2,054 | 1,347 | 2,113 |
Credit to comprehensive income | 59 | 885 | (766) |
Acquisitions | 263 | ||
Deferred tax assets liabilities, balance | 2,113 | 2,495 | 1,347 |
Unused tax losses [member] | Deferred Tax Assets [Member] | |||
Statement Line Items [Line Items] | |||
Deferred tax assets liabilities, balance | 1,005 | 814 | 1,005 |
Credit to comprehensive income | 0 | 776 | (191) |
Acquisitions | 263 | ||
Deferred tax assets liabilities, balance | 1,005 | 1,853 | 814 |
Allowance for credit losses [member] | Deferred Tax Liabilities [Member] | |||
Statement Line Items [Line Items] | |||
Deferred tax assets liabilities, balance | 0 | (1) | |
Credit to comprehensive income | 0 | 1 | |
Acquisitions | 0 | ||
Deferred tax assets liabilities, balance | (1) | 0 | 0 |
Other temporary differences [member] | Deferred Tax Liabilities [Member] | |||
Statement Line Items [Line Items] | |||
Deferred tax assets liabilities, balance | 0 | 0 | |
Credit to comprehensive income | 78 | 0 | |
Acquisitions | (489) | ||
Deferred tax assets liabilities, balance | 0 | (411) | 0 |
Other temporary differences [member] | Deferred Tax Assets [Member] | |||
Statement Line Items [Line Items] | |||
Deferred tax assets liabilities, balance | 1,049 | 533 | 1,108 |
Credit to comprehensive income | 59 | 109 | (575) |
Acquisitions | 0 | ||
Deferred tax assets liabilities, balance | $ 1,108 | $ 642 | $ 533 |
Note 12 - Business Combinatio_2
Note 12 - Business Combination (Details Textual) € in Thousands, $ in Thousands | Jun. 30, 2021USD ($) | Nov. 05, 2020USD ($) | Feb. 02, 2021USD ($) | Feb. 02, 2021EUR (€) | Jun. 30, 2019USD ($) | Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | Mar. 31, 2019USD ($) | Jun. 29, 2021USD ($) | Feb. 02, 2021EUR (€) | Nov. 05, 2020EUR (€) |
Statement Line Items [Line Items] | |||||||||||
Profit (loss), attributable to non-controlling interests | $ 0 | $ (387) | $ 0 | $ 0 | |||||||
Non-controlling interests | $ 0 | 0 | 0 | 184 | 0 | ||||||
Cash flows used in obtaining control of subsidiaries or other businesses | 0 | $ 7,089 | 0 | 0 | |||||||
ISS Joint Venture [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Percentage of voting equity interests acquired | 50.00% | 50.00% | |||||||||
Total consideration transferred, acquisition-date fair value | $ 1,000 | $ 1,000 | |||||||||
Total investments accounted for using equity method | $ 5,400 | ||||||||||
Gain recognised in bargain purchase transaction | $ 7,800 | $ 0 | 7,848 | $ 0 | $ 0 | ||||||
Tembo e-LV B.V. [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Non-controlling interest in acquiree recognised at acquisition date | $ 1,259 | € 1,025 | |||||||||
Profit (loss), attributable to non-controlling interests | (387) | € (319) | |||||||||
Non-controlling interests | $ 900 | € 706 | |||||||||
Tembo e-LV B.V. [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Percentage of voting equity interests acquired | 51.00% | 49.00% | 49.00% | 51.00% | |||||||
Acquisition-related costs recognised as expense for transaction recognised separately from acquisition of assets and assumption of liabilities in business combination | $ 600 | 600 | |||||||||
Identifiable intangible assets recognised as of acquisition date | $ 1,896 | € 1,593 | |||||||||
Non-controlling interest in acquiree recognised at acquisition date | 1,260 | 1,025 | |||||||||
Cash transferred | 4,916 | $ 2,200 | € 1,800 | € 4,000 | |||||||
Number of instruments or interests issued or issuable | 15,793 | 15,793 | |||||||||
Equity interests of acquirer | 200 | $ 237 | € 197 | ||||||||
Gain (loss) recognised as result of remeasuring to fair value equity interest in acquiree held by acquirer before business combination | $ 1,500 | ||||||||||
Revenue of acquiree since acquisition date | 1,400 | ||||||||||
Profit (loss) of acquiree since acquisition date | (2,800) | ||||||||||
Revenue of combined entity as if combination occurred at beginning of period | 41,100 | ||||||||||
Profit (loss) of combined entity as if combination occurred at beginning of period | $ 8,300 | ||||||||||
Total consideration transferred, acquisition-date fair value | 2,410 | € 1,997 | |||||||||
Cash flows used in obtaining control of subsidiaries or other businesses | 2,147 | € 1,779 | |||||||||
Tembo e-LV B.V. [member] | Customer-related intangible assets [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Identifiable intangible assets recognised as of acquisition date | 1,500 | ||||||||||
Tembo e-LV B.V. [member] | Customer-related intangible assets [member] | Percentage of revenue, measurement input [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Significant unobservable input, assets | 0.25 | 0.25 | |||||||||
Tembo e-LV B.V. [member] | Customer-related intangible assets [member] | Attrition rate, measurement input [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Significant unobservable input, assets | 0.25 | 0.25 | |||||||||
Tembo e-LV B.V. [member] | Customer-related intangible assets [member] | Average EBIT, measurement input [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Significant unobservable input, assets | 0.037 | 0.037 | |||||||||
Tembo e-LV B.V. [member] | Customer-related intangible assets [member] | Weighted average cost of capital [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Significant unobservable input, assets | 0.130 | 0.130 | |||||||||
Tembo e-LV B.V. [member] | Customer-related intangible assets [member] | Bottom of range [member] | Useful life, measurement input [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Significant unobservable input, assets | 1 | 1 | |||||||||
Tembo e-LV B.V. [member] | Customer-related intangible assets [member] | Top of range [member] | Useful life, measurement input [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Significant unobservable input, assets | 5 | 5 | |||||||||
Tembo e-LV B.V. [member] | Brand names [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Identifiable intangible assets recognised as of acquisition date | $ 400 | ||||||||||
Tembo e-LV B.V. [member] | Brand names [member] | Useful life, measurement input [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Significant unobservable input, assets | 6 | 6 | |||||||||
Tembo e-LV B.V. [member] | Brand names [member] | Average royalty rate, measurement input [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Significant unobservable input, assets | 0.05 | 0.05 | |||||||||
ISS Joint Venture [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Percentage of voting equity interests acquired | 50.00% | 50.00% | |||||||||
Cash transferred | $ 0 | $ 0 | |||||||||
Revenue of acquiree since acquisition date | 0 | ||||||||||
Profit (loss) of acquiree since acquisition date | 0 | ||||||||||
Total consideration transferred, acquisition-date fair value | 1,000 | 1,000 | |||||||||
Total investments accounted for using equity method | 5,393 | $ 5,393 | |||||||||
Gain recognised in bargain purchase transaction | 7,848 | ||||||||||
Cash flows used in obtaining control of subsidiaries or other businesses | $ 0 |
Note 12 - Business Combinatio_3
Note 12 - Business Combination - Purchase Consideration and Assets and Liabilities Recognized (Details) | Jun. 30, 2021USD ($) | Feb. 02, 2021USD ($) | Feb. 02, 2021EUR (€) | Jun. 30, 2019USD ($) | Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | Mar. 31, 2019USD ($) | Feb. 02, 2021EUR (€) | Nov. 05, 2020USD ($) | Nov. 05, 2020EUR (€) |
Statement Line Items [Line Items] | ||||||||||
Surplus on acquisition: | $ 1,538 | € 1,291 | ||||||||
Loss attributable to non-controlling interest | $ 0 | $ 387,000 | $ 0 | $ 0 | ||||||
At date of acquisition of non-controlling interest | $ 0 | 0 | 0 | (184,000) | 0 | |||||
Net outflow of cash - investing activities | $ 0 | 7,089,000 | $ 0 | $ 0 | ||||||
Tembo e-LV B.V. [member] | ||||||||||
Statement Line Items [Line Items] | ||||||||||
Non -controlling interests | (1,259,000) | (1,025,000) | ||||||||
At acquisition | (1,259,000) | (1,025,000) | ||||||||
Loss attributable to non-controlling interest | 387,000 | € 319,000 | ||||||||
At date of acquisition of non-controlling interest | (900,000) | (706,000) | ||||||||
Tembo e-LV B.V. [member] | ||||||||||
Statement Line Items [Line Items] | ||||||||||
Cash consideration for acquisition | 2,200,000 | 1,800,000 | $ 4,916,000 | € 4,000,000 | ||||||
Cash and cash equivalents | 4,942,000 | 4,021,000 | 4,942,000 | 4,021,000 | ||||||
Trade and other receivables | 123,000 | 100,000 | ||||||||
Inventory | 730,000 | 594,000 | ||||||||
Property, plant and equipment (Note 13) | 206,000 | 167,000 | ||||||||
Deferred tax asset (Note 11) | 263,000 | 214,000 | ||||||||
Trade and other payables | (665,000) | (541,000) | ||||||||
Related party payable | (1,259,000) | (1,024,000) | ||||||||
Other non-current liabilities | (222,000) | (181,000) | ||||||||
Deferred income | (711,000) | (578,000) | ||||||||
Deferred tax liability (Note 11) | (489,000) | (398,000) | ||||||||
Remediation provision | (336,000) | (282,000) | ||||||||
Fair value of identifiable net assets acquired | 2,582,000 | 2,092,000 | ||||||||
Non -controlling interests | (1,260,000) | (1,025,000) | ||||||||
Net assets acquired | 1,322,000 | 1,067,000 | ||||||||
Surplus on acquisition: | 3,594,000 | 2,933,000 | ||||||||
Goodwill (Note 14a) | 1,698,000 | 1,340,000 | ||||||||
Other intangible assets (Note 14b) | 1,896,000 | 1,593,000 | ||||||||
Ordinary shares issued | 237,000 | 197,000 | 200,000 | |||||||
Total consideration for acquisition | 2,410,000 | € 1,997,000 | ||||||||
At acquisition | $ (1,260,000) | € (1,025,000) | ||||||||
Net outflow of cash - investing activities | $ 2,147,000 | € 1,779,000 | ||||||||
ISS Joint Venture [member] | ||||||||||
Statement Line Items [Line Items] | ||||||||||
Cash consideration for acquisition | 0 | 0 | ||||||||
Cash and cash equivalents | 2,000 | 2,000 | ||||||||
Net assets acquired | 13,241,000 | 13,241,000 | ||||||||
Total consideration for acquisition | 1,000,000 | 1,000,000 | ||||||||
Net outflow of cash - investing activities | 0 | |||||||||
Fair value of pre-acquisition equity interest | 5,393,000 | 5,393,000 | ||||||||
Total consideration | 5,393,000 | 5,393,000 | ||||||||
Deposits | 990,000 | 990,000 | ||||||||
Gain on bargain purchase - included in gain/(loss) on SES development (Note 5) | 7,848,000 | |||||||||
ISS Joint Venture [member] | Capitalised development expenditure [member] | ||||||||||
Statement Line Items [Line Items] | ||||||||||
Other intangible assets (Note 14b) | $ 12,249,000 | $ 12,249,000 |
Note 13 - Property, Plant and_3
Note 13 - Property, Plant and Equipment - Property, Plant and Equipment (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | |
Statement Line Items [Line Items] | |||
Property, plant and equipment | $ 1,205 | $ 2,486 | $ 2,951 |
Property, plant and equipment | 2,951 | 2,575 | 2,486 |
Property, plant and equipment | (1,205) | (2,486) | (2,951) |
Property, plant and equipment | (2,951) | (2,575) | (2,486) |
Accumulated depreciation and amortisation [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | (2,172) | (3,063) | (2,548) |
Change in accounting policy (Note 2.18) | (195) | ||
Property, plant and equipment | (2,367) | ||
Foreign exchange | 25 | (271) | 37 |
Additions | (214) | (1,089) | (898) |
Disposals | 8 | 444 | 346 |
Property, plant and equipment | (2,548) | (3,979) | (3,063) |
Property, plant and equipment | 2,172 | 3,063 | 2,548 |
Change in accounting policy (Note 2.18) | 195 | ||
Property, plant and equipment | 2,367 | ||
Foreign exchange | (25) | 271 | (37) |
Charge for the period | 214 | 1,089 | 898 |
Disposals | (8) | (444) | (346) |
Property, plant and equipment | 2,548 | 3,979 | 3,063 |
Gross carrying amount [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | 3,377 | 5,549 | 5,499 |
Change in accounting policy (Note 2.18) | 1,781 | ||
Property, plant and equipment | 5,158 | ||
Foreign exchange | (51) | 426 | (113) |
Additions | 400 | 938 | 1,163 |
Disposals | (8) | (565) | (1,000) |
Acquisitions from business combinations | 206 | ||
Property, plant and equipment | 5,499 | 6,554 | 5,549 |
Property, plant and equipment | (3,377) | (5,549) | (5,499) |
Change in accounting policy (Note 2.18) | (1,781) | ||
Property, plant and equipment | (5,158) | ||
Foreign exchange | 51 | (426) | 113 |
Charge for the period | (400) | (938) | (1,163) |
Disposals | 8 | 565 | 1,000 |
Property, plant and equipment | (5,499) | (6,554) | (5,549) |
Computer equipment [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | 163 | 103 | 141 |
Property, plant and equipment | 141 | 163 | 103 |
Property, plant and equipment | (163) | (103) | (141) |
Property, plant and equipment | (141) | (163) | (103) |
Computer equipment [member] | Accumulated depreciation and amortisation [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | (380) | (373) | (404) |
Change in accounting policy (Note 2.18) | 0 | ||
Property, plant and equipment | (380) | ||
Foreign exchange | 3 | (31) | 7 |
Additions | (27) | (66) | (55) |
Disposals | 0 | 71 | 79 |
Property, plant and equipment | (404) | (399) | (373) |
Property, plant and equipment | 380 | 373 | 404 |
Change in accounting policy (Note 2.18) | 0 | ||
Property, plant and equipment | 380 | ||
Foreign exchange | (3) | 31 | (7) |
Charge for the period | 27 | 66 | 55 |
Disposals | 0 | (71) | (79) |
Property, plant and equipment | 404 | 399 | 373 |
Computer equipment [member] | Gross carrying amount [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | 543 | 476 | 545 |
Change in accounting policy (Note 2.18) | 0 | ||
Property, plant and equipment | 543 | ||
Foreign exchange | (5) | 41 | (11) |
Additions | 7 | 125 | 36 |
Disposals | 0 | (80) | (94) |
Acquisitions from business combinations | 0 | ||
Property, plant and equipment | 545 | 562 | 476 |
Property, plant and equipment | (543) | (476) | (545) |
Change in accounting policy (Note 2.18) | 0 | ||
Property, plant and equipment | (543) | ||
Foreign exchange | 5 | (41) | 11 |
Charge for the period | (7) | (125) | (36) |
Disposals | 0 | 80 | 94 |
Property, plant and equipment | (545) | (562) | (476) |
Motor vehicles [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | 550 | 527 | 344 |
Property, plant and equipment | 344 | 598 | 527 |
Property, plant and equipment | (550) | (527) | (344) |
Property, plant and equipment | (344) | (598) | (527) |
Motor vehicles [member] | Accumulated depreciation and amortisation [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | (1,079) | (836) | (937) |
Change in accounting policy (Note 2.18) | 123 | ||
Property, plant and equipment | (956) | ||
Foreign exchange | 12 | (85) | 15 |
Additions | (1) | (206) | (171) |
Disposals | 8 | 157 | 257 |
Property, plant and equipment | (937) | (970) | (836) |
Property, plant and equipment | 1,079 | 836 | 937 |
Change in accounting policy (Note 2.18) | (123) | ||
Property, plant and equipment | 956 | ||
Foreign exchange | (12) | 85 | (15) |
Charge for the period | 1 | 206 | 171 |
Disposals | (8) | (157) | (257) |
Property, plant and equipment | 937 | 970 | 836 |
Motor vehicles [member] | Gross carrying amount [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | 1,629 | 1,363 | 1,282 |
Change in accounting policy (Note 2.18) | (371) | ||
Property, plant and equipment | 1,258 | ||
Foreign exchange | (13) | 145 | (26) |
Additions | 45 | 230 | 359 |
Disposals | (8) | (174) | (252) |
Acquisitions from business combinations | 4 | ||
Property, plant and equipment | 1,282 | 1,568 | 1,363 |
Property, plant and equipment | (1,629) | (1,363) | (1,282) |
Change in accounting policy (Note 2.18) | 371 | ||
Property, plant and equipment | (1,258) | ||
Foreign exchange | 13 | (145) | 26 |
Charge for the period | (45) | (230) | (359) |
Disposals | 8 | 174 | 252 |
Property, plant and equipment | (1,282) | (1,568) | (1,363) |
Plant and Equipment [Member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | 383 | 485 | 585 |
Property, plant and equipment | 585 | 739 | 485 |
Property, plant and equipment | (383) | (485) | (585) |
Property, plant and equipment | (585) | (739) | (485) |
Plant and Equipment [Member] | Accumulated depreciation and amortisation [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | (645) | (747) | (655) |
Change in accounting policy (Note 2.18) | 0 | ||
Property, plant and equipment | (645) | ||
Foreign exchange | 7 | (70) | 11 |
Additions | (17) | (167) | (107) |
Disposals | 0 | 112 | 4 |
Property, plant and equipment | (655) | (872) | (747) |
Property, plant and equipment | 645 | 747 | 655 |
Change in accounting policy (Note 2.18) | 0 | ||
Property, plant and equipment | 645 | ||
Foreign exchange | (7) | 70 | (11) |
Charge for the period | 17 | 167 | 107 |
Disposals | 0 | (112) | (4) |
Property, plant and equipment | 655 | 872 | 747 |
Plant and Equipment [Member] | Gross carrying amount [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | 1,029 | 1,232 | 1,240 |
Change in accounting policy (Note 2.18) | 0 | ||
Property, plant and equipment | 1,029 | ||
Foreign exchange | (11) | 26 | (26) |
Additions | 222 | 395 | 189 |
Disposals | 0 | (156) | (171) |
Acquisitions from business combinations | 114 | ||
Property, plant and equipment | 1,240 | 1,611 | 1,232 |
Property, plant and equipment | (1,029) | (1,232) | (1,240) |
Change in accounting policy (Note 2.18) | 0 | ||
Property, plant and equipment | (1,029) | ||
Foreign exchange | 11 | (26) | 26 |
Charge for the period | (222) | (395) | (189) |
Disposals | 0 | 156 | 171 |
Property, plant and equipment | (1,240) | (1,611) | (1,232) |
Fixtures and fittings [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | 108 | 109 | 116 |
Property, plant and equipment | 116 | 66 | 109 |
Property, plant and equipment | (108) | (109) | (116) |
Property, plant and equipment | (116) | (66) | (109) |
Fixtures and fittings [member] | Accumulated depreciation and amortisation [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | (68) | (86) | (74) |
Change in accounting policy (Note 2.18) | 0 | ||
Property, plant and equipment | (68) | ||
Foreign exchange | 0 | (8) | 1 |
Additions | (6) | (8) | (13) |
Disposals | 0 | 46 | 0 |
Property, plant and equipment | (74) | (56) | (86) |
Property, plant and equipment | 68 | 86 | 74 |
Change in accounting policy (Note 2.18) | 0 | ||
Property, plant and equipment | 68 | ||
Foreign exchange | 0 | 8 | (1) |
Charge for the period | 6 | 8 | 13 |
Disposals | 0 | (46) | 0 |
Property, plant and equipment | 74 | 56 | 86 |
Fixtures and fittings [member] | Gross carrying amount [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | 176 | 195 | 190 |
Change in accounting policy (Note 2.18) | 0 | ||
Property, plant and equipment | 176 | ||
Foreign exchange | (2) | 18 | (4) |
Additions | 16 | 6 | 9 |
Disposals | 0 | (97) | 0 |
Acquisitions from business combinations | 0 | ||
Property, plant and equipment | 190 | 122 | 195 |
Property, plant and equipment | (176) | (195) | (190) |
Change in accounting policy (Note 2.18) | 0 | ||
Property, plant and equipment | (176) | ||
Foreign exchange | 2 | (18) | 4 |
Charge for the period | (16) | (6) | (9) |
Disposals | 0 | 97 | 0 |
Property, plant and equipment | (190) | (122) | (195) |
Leasehold improvements [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | 0 | 1,262 | 1,764 |
Property, plant and equipment | 1,764 | 1,009 | 1,262 |
Property, plant and equipment | 0 | (1,262) | (1,764) |
Property, plant and equipment | (1,764) | (1,009) | (1,262) |
Leasehold improvements [member] | Accumulated depreciation and amortisation [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | 0 | (1,021) | (478) |
Change in accounting policy (Note 2.18) | (318) | ||
Property, plant and equipment | (318) | ||
Foreign exchange | 3 | (77) | 3 |
Additions | (163) | (642) | (552) |
Disposals | 0 | 58 | 16 |
Property, plant and equipment | (478) | (1,682) | (1,021) |
Property, plant and equipment | 0 | 1,021 | 478 |
Change in accounting policy (Note 2.18) | 318 | ||
Property, plant and equipment | 318 | ||
Foreign exchange | (3) | 77 | (3) |
Charge for the period | 163 | 642 | 552 |
Disposals | 0 | (58) | (16) |
Property, plant and equipment | 478 | 1,682 | 1,021 |
Leasehold improvements [member] | Gross carrying amount [member] | |||
Statement Line Items [Line Items] | |||
Property, plant and equipment | 0 | 2,283 | 2,242 |
Change in accounting policy (Note 2.18) | 2,152 | ||
Property, plant and equipment | 2,152 | ||
Foreign exchange | (20) | 196 | (46) |
Additions | 110 | 182 | 570 |
Disposals | 0 | (58) | (483) |
Acquisitions from business combinations | 88 | ||
Property, plant and equipment | 2,242 | 2,691 | 2,283 |
Property, plant and equipment | 0 | (2,283) | (2,242) |
Change in accounting policy (Note 2.18) | (2,152) | ||
Property, plant and equipment | (2,152) | ||
Foreign exchange | 20 | (196) | 46 |
Charge for the period | (110) | (182) | (570) |
Disposals | 0 | 58 | 483 |
Property, plant and equipment | $ (2,242) | $ (2,691) | $ (2,283) |
Note 14 - Intangible Assets (De
Note 14 - Intangible Assets (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | Feb. 02, 2021 | Nov. 05, 2020 | |
Statement Line Items [Line Items] | ||||||
Total intangible assets other than goodwill | $ 9,375 | $ 21,655 | $ 7,930 | $ 9,744 | ||
Tembo e-LV B.V. [member] | ||||||
Statement Line Items [Line Items] | ||||||
Acquisitions through business combinations, intangible assets other than goodwill | $ 500 | |||||
Percentage of voting equity interests acquired | 49.00% | 51.00% | ||||
ISS Joint Venture [member] | ||||||
Statement Line Items [Line Items] | ||||||
Percentage of voting equity interests acquired | 50.00% | |||||
Amortisation, intangible assets other than goodwill | $ 0 | |||||
ISS Joint Venture [member] | Capitalised development expenditure [member] | ||||||
Statement Line Items [Line Items] | ||||||
Total intangible assets other than goodwill | $ 12,200 | |||||
Customer-related intangible assets [member] | ||||||
Statement Line Items [Line Items] | ||||||
Useful life measured as period of time, intangible assets other than goodwill (Year) | 9 years | |||||
Total intangible assets other than goodwill | 3,834 | $ 3,623 | 2,977 | 4,033 | ||
Customer-related intangible assets [member] | Tembo e-LV B.V. [member] | ||||||
Statement Line Items [Line Items] | ||||||
Useful life measured as period of time, intangible assets other than goodwill (Year) | 5 years | |||||
Acquisitions through business combinations, intangible assets other than goodwill | $ 1,500 | |||||
Brand names [member] | ||||||
Statement Line Items [Line Items] | ||||||
Useful life measured as period of time, intangible assets other than goodwill (Year) | 12 years | |||||
Total intangible assets other than goodwill | 2,029 | $ 2,173 | 1,827 | 2,092 | ||
Brand names [member] | Tembo e-LV B.V. [member] | ||||||
Statement Line Items [Line Items] | ||||||
Useful life measured as period of time, intangible assets other than goodwill (Year) | 6 years | |||||
Acquisitions through business combinations, intangible assets other than goodwill | $ 400 | |||||
Favorable supply contracts [Member] | ||||||
Statement Line Items [Line Items] | ||||||
Useful life measured as period of time, intangible assets other than goodwill (Year) | 12 years | |||||
Total intangible assets other than goodwill | $ 2,465 | $ 3,116 | $ 3,121 | $ 3,572 | ||
Aevitas O Holdings Limited [Member] | ||||||
Statement Line Items [Line Items] | ||||||
Adjustments for impairment loss recognised in profit or loss, goodwill | $ 0 | |||||
Goodwill, measurement input, discount rate | 8.80% | 10.00% | 10.60% | 8.80% | ||
Goodwill, measurement input, discount rate after next year | 3.00% | |||||
VivoPower PTY Limited [Member] | ||||||
Statement Line Items [Line Items] | ||||||
Adjustments for impairment loss recognised in profit or loss, goodwill | $ 0 | |||||
Goodwill, measurement input, discount rate | 11.00% | 10.70% | 10.90% | 11.00% | ||
Goodwill, measurement input, annual growth rate, in five years, hyperscaling phase | 120.00% | |||||
Additions other than through business combinations, intangible assets other than goodwill | $ 100 | |||||
VivoPower PTY Limited [Member] | Supporting infrastructure for electric vehicle sales [member] | ||||||
Statement Line Items [Line Items] | ||||||
Goodwill, measurement input, annual growth rate, in five years, percentage of revenue | 53.00% | |||||
Goodwill, measurement input, annual growth rate, in five years, percentage of revenue, change in impairment | 5.00% | |||||
Impairment of goodwill, growth rate change | $ 300 | |||||
VivoPower PTY Limited [Member] | Electric light vehicles sold with additional sustainable energy solution [member] | ||||||
Statement Line Items [Line Items] | ||||||
Goodwill, measurement input, annual growth rate, in five years, percentage of revenue | 20.00% | |||||
Goodwill, measurement input, annual growth rate, in five years, percentage of revenue, change in impairment | 0.00% | |||||
Impairment of goodwill, growth rate change | $ 4,800 | |||||
VivoPower PTY Limited [Member] | Standalone renewable power generation, storage and distribution projects [member] | ||||||
Statement Line Items [Line Items] | ||||||
Goodwill, measurement input, annual growth rate, in five years, percentage of revenue | 69.00% | |||||
Goodwill, measurement input, annual growth rate, in five years, percentage of revenue, change in impairment | 90.00% | |||||
Impairment of goodwill, growth rate change | $ 3,400 | |||||
Tembo e-LV B.V. [member] | ||||||
Statement Line Items [Line Items] | ||||||
Adjustments for impairment loss recognised in profit or loss, goodwill | $ 0 | |||||
Goodwill, measurement input, discount rate | 10.00% | |||||
Goodwill, measurement input, annual growth rate, in five years | 748.00% |
Note 14 - Intangible Assets - I
Note 14 - Intangible Assets - Intangible Assets (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Mar. 31, 2018 |
Statement Line Items [Line Items] | |||||
Goodwill | $ 25,794 | $ 21,919 | $ 22,387 | $ 22,622 | $ 24,482 |
Other intangible assets | 21,655 | 7,930 | 9,375 | 9,744 | |
Total | $ 47,449 | $ 29,849 | $ 31,762 | $ 32,366 |
Note 14 - Intangible Assets - G
Note 14 - Intangible Assets - Goodwill (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | |
Statement Line Items [Line Items] | ||||
As at July 1 / April 1 | $ 22,622 | $ 21,919 | $ 22,387 | $ 24,482 |
Goodwill on acquisition of Tembo | 0 | 1,698 | 0 | 0 |
Foreign exchange | (235) | 2,177 | (468) | (1,860) |
Carrying value | $ 22,387 | $ 25,794 | $ 21,919 | $ 22,622 |
Note 14 - Intangible Assets - C
Note 14 - Intangible Assets - Carrying Amounts of Goodwill by Cash-generating Units (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Mar. 31, 2018 |
Statement Line Items [Line Items] | |||||
Goodwill | $ 25,794 | $ 21,919 | $ 22,387 | $ 22,622 | $ 24,482 |
Aevitas O Holdings Pty Ltd [member] | |||||
Statement Line Items [Line Items] | |||||
Goodwill | 13,658 | 12,483 | 12,751 | 12,884 | |
VivoPower Pty Ltd [member] | |||||
Statement Line Items [Line Items] | |||||
Goodwill | 10,319 | 9,436 | 9,636 | 9,738 | |
Tembo e-LV B.V. [member] | |||||
Statement Line Items [Line Items] | |||||
Goodwill | $ 1,817 | $ 0 | $ 0 | $ 0 |
Note 14 - Intangible Assets - O
Note 14 - Intangible Assets - Other Intangible Assets (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | |
Statement Line Items [Line Items] | ||||
Other Intangible Assets | $ 9,744 | $ 7,930 | $ 9,375 | |
Other Intangible Assets | 9,375 | $ 9,375 | 21,655 | 7,930 |
Other Intangible Assets | (9,744) | (7,930) | (9,375) | |
Other Intangible Assets | (9,375) | (9,375) | (21,655) | (7,930) |
Other Intangible Assets | 9,375 | 9,375 | 21,655 | 7,930 |
Gross carrying amount [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | 11,960 | 11,036 | 11,796 | |
Foreign exchange | (126) | 1,034 | (244) | |
Additions | 12 | 559 | 461 | |
Disposals | (50) | (550) | (977) | |
Acquisitions from business combinations | 14,144 | |||
Other Intangible Assets | 11,796 | 11,796 | 26,223 | 11,036 |
Other Intangible Assets | (11,960) | (11,036) | (11,796) | |
Foreign exchange | 126 | (1,034) | 244 | |
Amortization | 12 | 559 | 461 | |
Amortization | (12) | (559) | (461) | |
Disposals | 50 | 550 | 977 | |
Other Intangible Assets | (11,796) | (11,796) | (26,223) | (11,036) |
Other Intangible Assets | 11,796 | 11,796 | 26,223 | 11,036 |
Accumulated depreciation and amortisation [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | (2,216) | (3,106) | (2,421) | |
Foreign exchange | 18 | (295) | 50 | |
Additions | 223 | (1,167) | (868) | |
Disposals | 133 | |||
Other Intangible Assets | (2,421) | (2,421) | (4,568) | (3,106) |
Other Intangible Assets | 2,216 | 3,106 | 2,421 | |
Foreign exchange | (18) | 295 | (50) | |
Amortization | 223 | (1,167) | (868) | |
Amortization | (223) | 1,167 | 868 | |
Disposals | (133) | |||
Other Intangible Assets | 2,421 | 2,421 | 4,568 | 3,106 |
Other Intangible Assets | (2,421) | (2,421) | (4,568) | (3,106) |
Customer-related intangible assets [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | 4,033 | 2,977 | 3,834 | |
Other Intangible Assets | 3,834 | 3,834 | 3,623 | 2,977 |
Other Intangible Assets | (4,033) | (2,977) | (3,834) | |
Other Intangible Assets | (3,834) | (3,834) | (3,623) | (2,977) |
Other Intangible Assets | 3,834 | 3,834 | 3,623 | 2,977 |
Customer-related intangible assets [member] | Gross carrying amount [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | 5,097 | 4,382 | 4,992 | |
Foreign exchange | (55) | 411 | (103) | |
Additions | 0 | 46 | 461 | |
Disposals | (50) | (550) | (968) | |
Acquisitions from business combinations | 1,492 | |||
Other Intangible Assets | 4,992 | 4,992 | 5,781 | 4,382 |
Other Intangible Assets | (5,097) | (4,382) | (4,992) | |
Foreign exchange | 55 | (411) | 103 | |
Amortization | 0 | 46 | 461 | |
Amortization | 0 | (46) | (461) | |
Disposals | 50 | 550 | 968 | |
Other Intangible Assets | (4,992) | (4,992) | (5,781) | (4,382) |
Other Intangible Assets | 4,992 | 4,992 | 5,781 | 4,382 |
Customer-related intangible assets [member] | Accumulated depreciation and amortisation [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | (1,064) | (1,405) | (1,158) | |
Foreign exchange | 6 | (131) | 24 | |
Additions | 100 | (622) | (404) | |
Disposals | 133 | |||
Other Intangible Assets | (1,158) | (1,158) | (2,158) | (1,405) |
Other Intangible Assets | 1,064 | 1,405 | 1,158 | |
Foreign exchange | (6) | 131 | (24) | |
Amortization | 100 | (622) | (404) | |
Amortization | (100) | 622 | 404 | |
Disposals | (133) | |||
Other Intangible Assets | 1,158 | 1,158 | 2,158 | 1,405 |
Other Intangible Assets | (1,158) | (1,158) | (2,158) | (1,405) |
Brand names [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | 2,092 | 1,827 | 2,029 | |
Other Intangible Assets | 2,029 | 2,029 | 2,173 | 1,827 |
Other Intangible Assets | (2,092) | (1,827) | (2,029) | |
Other Intangible Assets | (2,029) | (2,029) | (2,173) | (1,827) |
Other Intangible Assets | 2,029 | 2,029 | 2,173 | 1,827 |
Brand names [member] | Gross carrying amount [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | 2,476 | 2,399 | 2,450 | |
Foreign exchange | (26) | 225 | (51) | |
Additions | 0 | 0 | 0 | |
Disposals | 0 | 0 | 0 | |
Acquisitions from business combinations | 404 | |||
Other Intangible Assets | 2,450 | 2,450 | 3,028 | 2,399 |
Other Intangible Assets | (2,476) | (2,399) | (2,450) | |
Foreign exchange | 26 | (225) | 51 | |
Amortization | 0 | 0 | 0 | |
Amortization | 0 | 0 | 0 | |
Disposals | 0 | 0 | 0 | |
Other Intangible Assets | (2,450) | (2,450) | (3,028) | (2,399) |
Other Intangible Assets | 2,450 | 2,450 | 3,028 | 2,399 |
Brand names [member] | Accumulated depreciation and amortisation [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | (384) | (572) | (421) | |
Foreign exchange | 4 | (54) | 9 | |
Additions | 41 | (229) | (160) | |
Disposals | 0 | |||
Other Intangible Assets | (421) | (421) | (855) | (572) |
Other Intangible Assets | 384 | 572 | 421 | |
Foreign exchange | (4) | 54 | (9) | |
Amortization | 41 | (229) | (160) | |
Amortization | (41) | 229 | 160 | |
Disposals | 0 | |||
Other Intangible Assets | 421 | 421 | 855 | 572 |
Other Intangible Assets | (421) | (421) | (855) | (572) |
Favorable supply contracts [Member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | 3,572 | 3,121 | 2,465 | |
Other Intangible Assets | 2,465 | 2,465 | 3,116 | 3,121 |
Other Intangible Assets | (3,572) | (3,121) | (2,465) | |
Other Intangible Assets | (2,465) | (2,465) | (3,116) | (3,121) |
Other Intangible Assets | 2,465 | 2,465 | 3,116 | 3,121 |
Favorable supply contracts [Member] | Gross carrying amount [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | 4,229 | 4,099 | 4,185 | |
Foreign exchange | (44) | 385 | (86) | |
Additions | 0 | 0 | 0 | |
Disposals | 0 | 0 | 0 | |
Acquisitions from business combinations | 0 | |||
Other Intangible Assets | 4,185 | 4,185 | 4,484 | 4,099 |
Other Intangible Assets | (4,229) | (4,099) | (4,185) | |
Foreign exchange | 44 | (385) | 86 | |
Amortization | 0 | 0 | 0 | |
Amortization | 0 | 0 | 0 | |
Disposals | 0 | 0 | 0 | |
Other Intangible Assets | (4,185) | (4,185) | (4,484) | (4,099) |
Other Intangible Assets | 4,185 | 4,185 | 4,484 | 4,099 |
Favorable supply contracts [Member] | Accumulated depreciation and amortisation [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | (657) | (978) | (720) | |
Foreign exchange | 7 | (92) | 15 | |
Additions | 70 | (298) | (273) | |
Disposals | 0 | |||
Other Intangible Assets | (720) | (720) | (1,368) | (978) |
Other Intangible Assets | 657 | 978 | 720 | |
Foreign exchange | (7) | 92 | (15) | |
Amortization | 70 | (298) | (273) | |
Amortization | (70) | 298 | 273 | |
Disposals | 0 | |||
Other Intangible Assets | 720 | 720 | 1,368 | 978 |
Other Intangible Assets | (720) | (720) | (1,368) | (978) |
Solar projects [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | 0 | 0 | 0 | |
Other Intangible Assets | 0 | 0 | 12,248 | 0 |
Other Intangible Assets | 0 | 0 | 0 | |
Other Intangible Assets | 0 | 0 | (12,248) | 0 |
Other Intangible Assets | 0 | 0 | 12,248 | 0 |
Solar projects [member] | Gross carrying amount [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | 0 | 0 | 0 | |
Foreign exchange | 0 | 0 | 0 | |
Additions | 0 | 0 | 0 | |
Disposals | 0 | 0 | 0 | |
Acquisitions from business combinations | 12,248 | |||
Other Intangible Assets | 0 | 0 | 12,248 | 0 |
Other Intangible Assets | 0 | 0 | 0 | |
Foreign exchange | 0 | 0 | 0 | |
Amortization | 0 | 0 | 0 | |
Amortization | 0 | 0 | 0 | |
Disposals | 0 | 0 | 0 | |
Other Intangible Assets | 0 | 0 | (12,248) | 0 |
Other Intangible Assets | 0 | 0 | 12,248 | 0 |
Solar projects [member] | Accumulated depreciation and amortisation [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | 0 | 0 | 0 | |
Foreign exchange | 0 | 0 | 0 | |
Additions | 0 | 0 | 0 | |
Disposals | 0 | |||
Other Intangible Assets | 0 | 0 | 0 | 0 |
Other Intangible Assets | 0 | 0 | 0 | |
Foreign exchange | 0 | 0 | 0 | |
Amortization | 0 | 0 | 0 | |
Amortization | 0 | 0 | 0 | |
Disposals | 0 | |||
Other Intangible Assets | 0 | 0 | 0 | 0 |
Other Intangible Assets | 0 | 0 | 0 | 0 |
Capitalised development expenditure [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | 0 | 0 | 0 | |
Other Intangible Assets | 0 | 0 | 495 | 0 |
Other Intangible Assets | 0 | 0 | 0 | |
Other Intangible Assets | 0 | 0 | (495) | 0 |
Other Intangible Assets | 0 | 0 | 495 | 0 |
Capitalised development expenditure [member] | Gross carrying amount [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | 0 | 0 | 0 | |
Foreign exchange | 0 | 0 | 0 | |
Additions | 0 | 513 | 0 | |
Disposals | 0 | 0 | 0 | |
Acquisitions from business combinations | 0 | |||
Other Intangible Assets | 0 | 0 | 513 | 0 |
Other Intangible Assets | 0 | 0 | 0 | |
Foreign exchange | 0 | 0 | 0 | |
Amortization | 0 | 513 | 0 | |
Amortization | 0 | (513) | 0 | |
Disposals | 0 | 0 | 0 | |
Other Intangible Assets | 0 | 0 | (513) | 0 |
Other Intangible Assets | 0 | 0 | 513 | 0 |
Capitalised development expenditure [member] | Accumulated depreciation and amortisation [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | 0 | 0 | 0 | |
Foreign exchange | 0 | 0 | 0 | |
Additions | 0 | (18) | 0 | |
Disposals | 0 | |||
Other Intangible Assets | 0 | 0 | (18) | 0 |
Other Intangible Assets | 0 | 0 | 0 | |
Foreign exchange | 0 | 0 | 0 | |
Amortization | 0 | (18) | 0 | |
Amortization | 0 | 18 | 0 | |
Disposals | 0 | |||
Other Intangible Assets | 0 | 0 | 18 | 0 |
Other Intangible Assets | 0 | 0 | (18) | 0 |
Other intangible assets [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | 47 | 5 | 47 | |
Other Intangible Assets | 47 | 47 | 0 | 5 |
Other Intangible Assets | (47) | (5) | (47) | |
Other Intangible Assets | (47) | (47) | 0 | (5) |
Other Intangible Assets | 47 | 47 | 0 | 5 |
Other intangible assets [member] | Gross carrying amount [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | 158 | 156 | 169 | |
Foreign exchange | (1) | 13 | (4) | |
Additions | 12 | 0 | 0 | |
Disposals | 0 | 0 | (9) | |
Acquisitions from business combinations | 0 | |||
Other Intangible Assets | 169 | 169 | 169 | 156 |
Other Intangible Assets | (158) | (156) | (169) | |
Foreign exchange | 1 | (13) | 4 | |
Amortization | 12 | 0 | 0 | |
Amortization | (12) | 0 | 0 | |
Disposals | 0 | 0 | 9 | |
Other Intangible Assets | (169) | (169) | (169) | (156) |
Other Intangible Assets | 169 | 169 | 169 | 156 |
Other intangible assets [member] | Accumulated depreciation and amortisation [member] | ||||
Statement Line Items [Line Items] | ||||
Other Intangible Assets | (111) | (151) | (122) | |
Foreign exchange | 1 | (18) | 2 | |
Additions | 12 | 0 | (31) | |
Disposals | 0 | |||
Other Intangible Assets | (122) | (122) | (169) | (151) |
Other Intangible Assets | 111 | 151 | 122 | |
Foreign exchange | (1) | 18 | (2) | |
Amortization | 12 | 0 | (31) | |
Amortization | (12) | 0 | 31 | |
Disposals | 0 | |||
Other Intangible Assets | 122 | 122 | 169 | 151 |
Other Intangible Assets | $ (122) | $ (122) | $ (169) | $ (151) |
Note 15 - Investment in Subsi_3
Note 15 - Investment in Subsidiaries (Details Textual) | 12 Months Ended | |
Jun. 30, 2021 | ||
V.V.P. Holdings Inc. [Member] | ||
Statement Line Items [Line Items] | ||
Proportion of ownership interest in subsidiary | 40.00% | [1] |
[1] | V.V.P. Holdings Inc. is controlled by VivoPower Pty Ltd, notwithstanding only owning 40% of the ordinary share capital. |
Note 15 - Investment in Subsi_4
Note 15 - Investment in Subsidiaries - Subsidiaries (Details) | 12 Months Ended |
Jun. 30, 2021 | |
VivoPower International Services Limited [Member] | |
Statement Line Items [Line Items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Registered address | 28 Esplanade, St Helier, Jersey, JE2 3QA |
VivoPower USA LLC [Member] | |
Statement Line Items [Line Items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Registered address | 251 Little Falls Drive, Wilmington, DE, USA 19808 |
VivoPower US-NC-31, LLC [member] | |
Statement Line Items [Line Items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Registered address | 251 Little Falls Drive, Wilmington, DE, USA 19808 |
VivoPower US-NC-47, LLC [member] | |
Statement Line Items [Line Items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Registered address | 251 Little Falls Drive, Wilmington, DE, USA 19808 |
VivoPower (USA) Development, LLC [member] | |
Statement Line Items [Line Items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Registered address | 251 Little Falls Drive, Wilmington, DE, USA 19808 |
Caret, LLC [member] | |
Statement Line Items [Line Items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Registered address | 251 Little Falls Drive, Wilmington, DE, USA 19808 |
VivoPower Pty Ltd [member] | |
Statement Line Items [Line Items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Registered address | 153 Walker St, North Sydney NSW, Australia 2060 |
VivoPower WA Pty Ltd [Member] | |
Statement Line Items [Line Items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Registered address | 153 Walker St, North Sydney NSW, Australia 2060 |
VVP Project 1 Pty Limited [Member] | |
Statement Line Items [Line Items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Registered address | 153 Walker St, North Sydney NSW, Australia 2060 |
Amaroo Solar Pty. Ltd [Member] | |
Statement Line Items [Line Items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Registered address | 153 Walker St, North Sydney NSW, Australia 2060 |
Aevitas O Holdings Pty Ltd [member] | |
Statement Line Items [Line Items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Registered address | 153 Walker St, North Sydney NSW, Australia 2060 |
Aevitas Group Limited [Member] | |
Statement Line Items [Line Items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Registered address | 153 Walker St, North Sydney NSW, Australia 2060 |
Electrical Engineering Group Pty Limited [Member] | |
Statement Line Items [Line Items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Registered address | 153 Walker St, North Sydney NSW, Australia 2060 |
J.A. Martin Electrical Pty Limited [member] | |
Statement Line Items [Line Items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Registered address | 153 Walker St, North Sydney NSW, Australia 2060 |
Kenshaw Electrical Pty Limited [Member] | |
Statement Line Items [Line Items] | |
Proportion of ownership interest in subsidiary | 100.00% |
Registered address | 153 Walker St, North Sydney NSW, Australia 2060 |
Note 15 - Investment in Subsi_5
Note 15 - Investment in Subsidiaries - Associate and Joint Venture Undertaking (Details) | 12 Months Ended | |
Jun. 30, 2021 | ||
VVPR-ITP Top Co Pty Limited [member] | ||
Statement Line Items [Line Items] | ||
Registered address | 153 Walker St, North Sydney NSW, Australia 2060 | |
Percentage of shares held | 50.00% | |
VivoPower Philippines Inc. [Member] | ||
Statement Line Items [Line Items] | ||
Proportion of ownership interest in subsidiary | 64.00% | |
Registered address | Unit 10A, Net Lima Building, 5th Avenue cor. 26th Street, E-Square Zone, Crescent Park West, Bonifacio Global City, Taguig, Metro Manila | |
VivoPower RE Solutions Inc. [Member] | ||
Statement Line Items [Line Items] | ||
Proportion of ownership interest in subsidiary | 64.00% | |
V.V.P. Holdings Inc. [Member] | ||
Statement Line Items [Line Items] | ||
Proportion of ownership interest in subsidiary | 40.00% | [1] |
Tembo e-LV B.V. [member] | ||
Statement Line Items [Line Items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Registered address | ||
Tembo 4x4 eLV BV [member] | ||
Statement Line Items [Line Items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Registered address | Hoek 54A, 5571GK, Bergeijk | |
FD 4x4 Centre B.V. [member] | ||
Statement Line Items [Line Items] | ||
Proportion of ownership interest in subsidiary | 100.00% | |
Registered address | ||
[1] | V.V.P. Holdings Inc. is controlled by VivoPower Pty Ltd, notwithstanding only owning 40% of the ordinary share capital. |
Note 16 - Investments Account_3
Note 16 - Investments Accounted for Using The Equity Method (Details Textual) - USD ($) $ in Millions | 1 Months Ended | 3 Months Ended | 12 Months Ended | 24 Months Ended | 51 Months Ended | |||
Apr. 30, 2017 | Jun. 30, 2019 | Jun. 30, 2021 | Jun. 29, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | Jun. 30, 2021 | Jun. 29, 2021 | |
Innovative Solar Ventures I, LLC [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Proportion of ownership interest in joint venture | 50.00% | 50.00% | 50.00% | 50.00% | ||||
Investments in joint ventures | $ 14.1 | |||||||
Joint venture agreement, potential brokerage commissions | $ 0.8 | |||||||
Purchase of investments other than investments accounted for using equity method | $ 13.1 | |||||||
Capitalized cost, written off | $ 7 | |||||||
Innovative Solar Ventures I, LLC [member] | Trade and other current payables [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Purchase of investments other than investments accounted for using equity method | $ 1.1 | |||||||
ISS Joint Venture [member] | ||||||||
Statement Line Items [Line Items] | ||||||||
Proportion of ownership interest in joint venture | 50.00% | |||||||
Percentage of voting equity interests acquired | 50.00% | 50.00% | ||||||
Total consideration transferred, acquisition-date fair value | $ 1 | $ 1 | ||||||
Investments accounted for using equity method, amount derecognized | $ 8.1 | |||||||
Percentage of capitalized project development costs recorded as intangibles upon business acquisition | 100.00% |
Note 16 - Investments Account_4
Note 16 - Investments Accounted for Using The Equity Method - Investments (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Investment | $ 0 | $ 8,225 | $ 0 | $ 0 |
Caret, LLC [member] | ||||
Statement Line Items [Line Items] | ||||
Ownership percentage of investment | 50.00% | |||
Investment | $ 0 | $ 8,225 | $ 0 | $ 0 |
Note 17 - Cash and Cash Equiv_3
Note 17 - Cash and Cash Equivalents - Cash and Cash Equivalents (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Mar. 31, 2018 |
Statement Line Items [Line Items] | |||||
Cash at bank and in hand | $ 8,604 | $ 2,824 | $ 7,129 | $ 4,522 | $ 1,939 |
Note 17 - Cash and Cash Equiv_4
Note 17 - Cash and Cash Equivalents - Credit Ratings (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Mar. 31, 2018 |
Statement Line Items [Line Items] | |||||
Cash and cash equivalents | $ 8,604 | $ 2,824 | $ 7,129 | $ 4,522 | $ 1,939 |
A + [member] | |||||
Statement Line Items [Line Items] | |||||
Cash and cash equivalents | 5,423 | 0 | 252 | 17 | |
A-1 [Member] | |||||
Statement Line Items [Line Items] | |||||
Cash and cash equivalents | 0 | 0 | 233 | 14 | |
A- [member] | |||||
Statement Line Items [Line Items] | |||||
Cash and cash equivalents | 2 | 554 | 0 | 0 | |
AA - [member] | |||||
Statement Line Items [Line Items] | |||||
Cash and cash equivalents | $ 3,179 | $ 2,270 | $ 6,644 | $ 4,491 |
Note 18 - Restricted Cash (Deta
Note 18 - Restricted Cash (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Restricted cash related to bank guarantees | $ 1,140 | $ 1,013 | $ 632 | $ 816 |
Note 18 - Restricted Cash - Com
Note 18 - Restricted Cash - Components of Restricted Cash (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Bank guarantee security deposit | $ 1,140 | $ 1,013 | $ 632 | $ 816 |
Preferred supplier agreement escrow | 0 | 0 | 0 | 503 |
Total | $ 1,140 | $ 1,013 | $ 632 | $ 1,319 |
Note 19 - Trade and Other Rec_3
Note 19 - Trade and Other Receivables - Trade and Other Receivables (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Trade receivables | $ 4,959 | $ 3,112 | $ 6,193 | $ 5,899 |
Contract assets | 2,723 | 3,382 | 3,929 | 1,800 |
Prepayments | 2,837 | 432 | 2,919 | 628 |
Other receivables | 2,011 | 5,475 | 1,951 | 2,072 |
Current tax receivable | 182 | 155 | 0 | 0 |
Total | $ 12,712 | $ 12,556 | $ 14,992 | $ 10,399 |
Note 19 - Trade and Other Rec_4
Note 19 - Trade and Other Receivables - Analysis of Trade Receivable (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Trade and other receivables | $ 4,959 | $ 3,119 | $ 6,195 | $ 5,929 |
Less: credit note provision | 0 | (7) | (2) | (30) |
Total | $ 4,959 | $ 3,112 | $ 6,193 | $ 5,899 |
Note 19 - Trade and Other Rec_5
Note 19 - Trade and Other Receivables - Credit Risk for Trade Receivables by Geographic Region (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Trade receivables | $ 4,959 | $ 3,112 | $ 6,193 | $ 5,899 |
United States 1 [member] | ||||
Statement Line Items [Line Items] | ||||
Trade receivables | 0 | 0 | 108 | 78 |
United Kingdom 1 [member] | ||||
Statement Line Items [Line Items] | ||||
Trade receivables | 0 | 0 | 0 | 0 |
Australia 1 [Member] | ||||
Statement Line Items [Line Items] | ||||
Trade receivables | 4,349 | 3,112 | 6,085 | 5,821 |
The Netherlands [Member] | ||||
Statement Line Items [Line Items] | ||||
Trade receivables | $ 610 | $ 0 | $ 0 | $ 0 |
Note 19 - Trade and Other Rec_6
Note 19 - Trade and Other Receivables - Aging of Trade Receivables (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Trade receivables | $ 4,959 | $ 3,112 | $ 6,193 | $ 5,899 |
Trade receivable, 0-90 days [Member] | ||||
Statement Line Items [Line Items] | ||||
Trade receivables | 4,918 | 3,055 | 6,093 | 5,765 |
Trade Receivables, Greater than 90 Days [Member] | ||||
Statement Line Items [Line Items] | ||||
Trade receivables | $ 41 | $ 57 | $ 100 | $ 134 |
Note 20 - Inventory - Inventory
Note 20 - Inventory - Inventory (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Raw materials | $ 1,537 | $ 0 | $ 0 | $ 0 |
Total | $ 1,537 | $ 0 | $ 0 | $ 0 |
Note 21 - Assets Classified a_3
Note 21 - Assets Classified as Held for Sale (Details Textual) - USD ($) $ in Thousands | 12 Months Ended | ||||
Jun. 29, 2021 | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | |
Statement Line Items [Line Items] | |||||
Total non-current assets or disposal groups classified as held for sale or as held for distribution to owners | $ 0 | $ 4,080 | $ 13,530 | $ 13,530 | |
ISS Joint Venture [member] | |||||
Statement Line Items [Line Items] | |||||
Proportion of ownership interest in joint venture | 50.00% | ||||
Percentage of voting equity interests acquired | 50.00% | ||||
Total non-current assets or disposal groups classified as held for sale or as held for distribution to owners | $ 0 |
Note 21 - Assets Classified a_4
Note 21 - Assets Classified as Held for Sale - Assets Held for Sale (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Assets held for sale | $ 0 | $ 4,080 | $ 13,530 | $ 13,530 |
Caret, LLC [member] | ||||
Statement Line Items [Line Items] | ||||
Ownership percentage of investment | 50.00% | |||
Assets held for sale | $ 0 | $ 4,080 | $ 13,530 | $ 13,530 |
Note 21 - Assets Classified a_5
Note 21 - Assets Classified as Held for Sale - Reconciliation of the ISS Joint Venture Investment (Details) - USD ($) $ in Thousands | 1 Months Ended | 3 Months Ended | 12 Months Ended | ||
Apr. 30, 2017 | Jun. 30, 2019 | Jun. 30, 2020 | Mar. 31, 2019 | Jun. 30, 2021 | |
Statement Line Items [Line Items] | |||||
Assets classified as held for sale | $ 13,530 | $ 4,080 | $ 13,530 | $ 0 | |
Current assets | 36,283 | 20,473 | 29,770 | 23,993 | |
Non-current assets | 36,826 | 41,907 | 35,625 | 52,519 | |
Net assets | 73,109 | 62,380 | 65,395 | 76,512 | |
Net assets | 22,516 | 17,890 | 23,985 | 40,418 | |
Investment | 0 | 8,225 | 0 | 0 | |
Innovative Solar Ventures I, LLC [member] | |||||
Statement Line Items [Line Items] | |||||
Capital commitment | 15,044 | 15,044 | 15,044 | 0 | |
Commission credit | (770) | (770) | (770) | 0 | |
Discontinued projects | (847) | (2,079) | (847) | 0 | |
Acquisition costs | 103 | 110 | 103 | 0 | |
Net assets | 13,530 | 12,305 | 13,530 | 0 | |
Assets classified as held for sale | 13,530 | 4,080 | 13,530 | 0 | |
Fair value of pre-acquisition equity interest | 0 | 8,225 | 0 | 0 | |
Current assets | 1,187 | 2 | 1,187 | 0 | |
Non-current assets | 27,107 | 23,277 | 27,107 | 0 | |
Net assets | 28,294 | 23,279 | 28,294 | 0 | |
Opening net assets | 28,294 | 28,294 | 28,294 | 24,390 | |
Commission credit | 0 | (1,546) | 1,514 | 0 | |
Commission credit on abandonments | 0 | 144 | 0 | 0 | |
Sundry income | 0 | 90 | 0 | 0 | |
Project swaps | 0 | 0 | 281 | 0 | |
Abandoned projects | 0 | (2,592) | (1,795) | (13,900) | |
Acquisition of controlling interest | 0 | 0 | 0 | (10,490) | |
Net assets | $ 28,294 | $ 24,390 | $ 28,294 | 0 | |
VivoPower share in % | 50.00% | 50.00% | 50.00% | 50.00% | |
Investment | $ 14,148 | $ 12,195 | $ 14,148 | 0 | |
Commission credit | $ (721) | $ 0 | $ (721) | $ 0 |
Note 22 - Trade and Other Pay_3
Note 22 - Trade and Other Payables (Details Textual) - USD ($) $ in Millions | 12 Months Ended | |||
Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | |
Statement Line Items [Line Items] | ||||
Contract liabilities not recognized at end of period | $ 2.4 | $ 10.1 | $ 5 | |
Revenue that was included in contract liability balance at beginning of period | $ 6 |
Note 22 - Trade and Other Pay_4
Note 22 - Trade and Other Payables - Trade and Other Payables (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Trade payables | $ 4,325 | $ 4,807 | $ 5,554 | $ 5,675 |
Accruals | 648 | 370 | 2,247 | 1,952 |
Related party payable | 0 | 504 | 1,527 | 1,378 |
Payroll liabilities | 1,413 | 1,383 | 1,209 | 1,165 |
Sales tax payable | 624 | 496 | 1,054 | 764 |
Contract liabilities | 1,129 | 6,013 | 10,095 | 4,978 |
Other creditors | 778 | 1,822 | 2,953 | 2,011 |
Total | $ 8,917 | $ 15,395 | $ 24,639 | $ 17,923 |
Note 23 - Provisions (Details T
Note 23 - Provisions (Details Textual) € in Thousands, £ in Thousands, $ in Thousands | Feb. 26, 2018GBP (£) | Sep. 30, 2020USD ($) | Sep. 30, 2020EUR (€) | Jun. 30, 2019USD ($) | Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | Mar. 31, 2019USD ($) |
Statement Line Items [Line Items] | |||||||
Claim damage related to notice period in service agreement, litigation | £ | £ 620 | ||||||
Claim damage related to shares due to plaintiff and other unquantified amounts related to bonuses, litigation | £ | £ 540 | ||||||
Claim awarded to plaintiff, litigation | $ 900 | € 620 | |||||
Final cost and interest awarded to plaintiff, litigation | 1,760 | ||||||
Claim and final cost and interest awarded to plaintiff, litigation | $ 2,660 | ||||||
Expense of restructuring activities | $ 525 | $ 2,880 | $ 3,410 | $ 2,017 | |||
Total provisions | $ 3,818 | 2,967 | 3,066 | $ 3,932 | |||
Legal fees expense | 480 | ||||||
Litigation provision [member] | |||||||
Statement Line Items [Line Items] | |||||||
Expense of restructuring activities | 1,500 | ||||||
Total provisions | $ 480 | $ 1,100 |
Note 23 - Provisions - Provisio
Note 23 - Provisions - Provisions (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Employee entitlements | $ 1,802 | $ 1,561 | $ 1,510 | $ 1,459 |
Litigation | 485 | 1,104 | 0 | 0 |
Warranty | 209 | 232 | 0 | 0 |
Remediation | 306 | 0 | 0 | 0 |
Employee terminations | 0 | 0 | 112 | 157 |
Onerous contracts | 0 | 0 | 96 | 94 |
Total current provisions | 2,802 | 2,897 | 1,718 | 1,710 |
Employee entitlements | 165 | 169 | 148 | 227 |
Onerous contracts | 0 | 0 | 1,952 | 1,995 |
Total non-current provision | 165 | 169 | 2,100 | 2,222 |
Total provisions | $ 2,967 | $ 3,066 | $ 3,818 | $ 3,932 |
Note 23 - Provisions - Reconcil
Note 23 - Provisions - Reconciliation of Provisions (Details) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | |
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | |
Statement Line Items [Line Items] | |||
Balance | $ 3,932 | $ 3,066 | $ 3,818 |
Foreign exchange | (18) | 184 | (41) |
Additional provisions | 146 | 3,776 | 3,171 |
Reverse unused provisions | (41) | (179) | (100) |
Unwinding of discount | 42 | ||
Provisions utilized | (243) | (3,880) | (1,734) |
Disposals | (2,048) | ||
Balance | 3,818 | 2,967 | 3,066 |
Employee entitlements [member] | |||
Statement Line Items [Line Items] | |||
Balance | 1,686 | 1,730 | 1,657 |
Foreign exchange | (18) | 170 | (41) |
Additional provisions | 146 | 1,306 | 1,659 |
Reverse unused provisions | (41) | (67) | (72) |
Unwinding of discount | 0 | ||
Provisions utilized | (116) | (1,172) | (1,473) |
Disposals | 0 | ||
Balance | 1,657 | 1,967 | 1,730 |
Employee termination [member] | |||
Statement Line Items [Line Items] | |||
Balance | 158 | 0 | 113 |
Foreign exchange | 0 | 0 | 0 |
Additional provisions | 0 | 0 | 176 |
Reverse unused provisions | 0 | 0 | (28) |
Unwinding of discount | 0 | ||
Provisions utilized | (45) | 0 | (261) |
Disposals | 0 | ||
Balance | 113 | 0 | 0 |
Remediation provision [member] | |||
Statement Line Items [Line Items] | |||
Balance | 0 | 0 | 0 |
Foreign exchange | 0 | 0 | 0 |
Additional provisions | 0 | 306 | 0 |
Reverse unused provisions | 0 | 0 | 0 |
Unwinding of discount | 0 | ||
Provisions utilized | 0 | 0 | 0 |
Disposals | 0 | ||
Balance | 0 | 306 | 0 |
Onerous contracts provision [member] | |||
Statement Line Items [Line Items] | |||
Balance | 2,088 | 0 | 2,048 |
Foreign exchange | 0 | 0 | |
Additional provisions | 0 | 0 | 0 |
Reverse unused provisions | 0 | 0 | 0 |
Unwinding of discount | 42 | ||
Provisions utilized | (82) | 0 | 0 |
Disposals | (2,048) | ||
Balance | 2,048 | 0 | 0 |
Litigation provision [member] | |||
Statement Line Items [Line Items] | |||
Balance | 0 | 1,104 | 0 |
Foreign exchange | 0 | 0 | |
Additional provisions | 0 | 2,042 | 1,104 |
Reverse unused provisions | 0 | 0 | 0 |
Unwinding of discount | 0 | ||
Provisions utilized | 0 | (2,661) | 0 |
Disposals | 0 | ||
Balance | 0 | 485 | 1,104 |
Warranty provision [member] | |||
Statement Line Items [Line Items] | |||
Balance | 0 | 232 | 0 |
Foreign exchange | 0 | 14 | 0 |
Additional provisions | 0 | 122 | 232 |
Reverse unused provisions | 0 | (112) | 0 |
Unwinding of discount | 0 | ||
Provisions utilized | 0 | (47) | 0 |
Disposals | 0 | ||
Balance | $ 0 | $ 209 | $ 232 |
Note 24 - Loans and Borrowing_2
Note 24 - Loans and Borrowings (Details Textual) - USD ($) $ in Thousands | Jun. 30, 2021 | Apr. 30, 2021 | Dec. 31, 2020 | Jun. 30, 2020 | Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | Feb. 29, 2020 |
Statement Line Items [Line Items] | |||||||||
Proceeds from borrowings | $ 0 | $ 18 | $ 0 | $ 0 | |||||
Total borrowings | $ 23,091 | $ 25,954 | $ 21,686 | $ 23,091 | 25,954 | $ 19,267 | |||
Shareholder loan due to AWN Holdings Limited [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Notional amount | $ 23,400 | $ 23,400 | |||||||
Borrowings, interest rate | 10.00% | 10.00% | |||||||
Borrowings, line fee, percentage | 2.00% | 2.00% | |||||||
Bridging loan with AWN [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Borrowings, interest rate | 8.00% | 8.00% | 8.00% | 10.00% | |||||
Borrowings, line fee, percentage | 0.80% | 0.80% | 0.80% | 2.00% | |||||
Borrowings, Term (Month) | 60 months | 60 months | |||||||
Borrowings, Periodic Payment | $ 350 | $ 350 | |||||||
Repayments of borrowings | $ 2,200 | ||||||||
Borrowings, refinancing fee | 340 | $ 340 | |||||||
Government backed loans in Australia [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Proceeds from borrowings | $ 300 | ||||||||
Vehicle financing [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Total borrowings | $ 300 | $ 300 | |||||||
Project financing agreements [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Total borrowings | $ 200 | $ 200 | |||||||
First project financing agreement [member] | Bottom of range [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Borrowings, Term (Month) | 6 months | ||||||||
First project financing agreement [member] | Top of range [member] | |||||||||
Statement Line Items [Line Items] | |||||||||
Borrowings, Term (Month) | 8 months |
Note 24 - Loans and Borrowing_3
Note 24 - Loans and Borrowings - Loans and Borrowings (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Loans and borrowings | $ 1,004 | $ 1,312 | $ 2,327 | $ 887 |
Non-current borrowings | 22,087 | 24,642 | 19,359 | 18,380 |
Total liabilities | 23,091 | 25,954 | 21,686 | 19,267 |
Debtor invoice financing [member] | ||||
Statement Line Items [Line Items] | ||||
Loans and borrowings | 0 | 508 | 901 | 751 |
Finance leases [member] | ||||
Statement Line Items [Line Items] | ||||
Loans and borrowings | 669 | 641 | 660 | 136 |
Shareholder loans [member] | ||||
Statement Line Items [Line Items] | ||||
Loans and borrowings | 0 | 0 | 766 | 0 |
Non-current borrowings | 21,175 | 23,401 | 18,242 | 18,242 |
Chattel mortgage [member] | ||||
Statement Line Items [Line Items] | ||||
Loans and borrowings | 88 | 51 | 0 | 0 |
Non-current borrowings | 244 | 249 | 0 | 0 |
Project financing agreements [member] | ||||
Statement Line Items [Line Items] | ||||
Loans and borrowings | 59 | 0 | 0 | 0 |
Non-current borrowings | 183 | 0 | 0 | 0 |
Total liabilities | 200 | |||
Bank Loan [Member] | ||||
Statement Line Items [Line Items] | ||||
Loans and borrowings | 152 | 66 | 0 | 0 |
Non-current borrowings | 159 | 278 | 0 | 0 |
Other borrowings [member] | ||||
Statement Line Items [Line Items] | ||||
Loans and borrowings | 36 | 46 | 0 | 0 |
Lease liabilities [member] | ||||
Statement Line Items [Line Items] | ||||
Non-current borrowings | $ 326 | $ 714 | $ 1,117 | $ 138 |
Note 24 - Loans and Borrowing_4
Note 24 - Loans and Borrowings - Obligations Under Finance Leases (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Minimum lease payments | $ 1,062 | $ 1,454 | $ 1,991 | $ 290 |
Present value of minimum lease payments | 995 | 1,355 | 1,777 | 274 |
Future finance charges | (67) | (99) | (214) | (16) |
Total lease obligations | 995 | 1,355 | 1,777 | 274 |
Not later than one year [member] | ||||
Statement Line Items [Line Items] | ||||
Minimum lease payments | 683 | 695 | 692 | 147 |
Present value of minimum lease payments | 669 | 641 | 660 | 136 |
Later than one year and not later than five years [member] | ||||
Statement Line Items [Line Items] | ||||
Minimum lease payments | 379 | 759 | 1,299 | 143 |
Present value of minimum lease payments | $ 326 | $ 714 | $ 1,117 | $ 138 |
Note 25 - Called Up Share Cap_3
Note 25 - Called Up Share Capital (Details Textual) - USD ($) | Jul. 21, 2021 | Jun. 30, 2021 | Feb. 02, 2021 | Oct. 19, 2020 | Feb. 28, 2021 | Oct. 30, 2020 | Jun. 30, 2021 | Dec. 18, 2020 | Oct. 06, 2020 | Jun. 30, 2020 | Jun. 30, 2017 | ||
Statement Line Items [Line Items] | |||||||||||||
Shares Allotment, Aggregate Nominal Amount Authorised | $ 180,000 | $ 180,000 | $ 1,560 | ||||||||||
Nominal amount of authorized shares allotment | $ 40,000 | ||||||||||||
Increase (decrease) in number of shares outstanding, capital raises (in shares) | 708,669 | 3,382,350 | 4,091,019 | [1] | |||||||||
Increase (decrease) in number of shares outstanding, investments (in shares) | [2] | 49,750 | |||||||||||
Increase (decrease) in number of shares outstanding, share-based payment transactions (in shares) | [3] | 792,126 | |||||||||||
Increase (decrease) in number of shares outstanding, business combination (in shares) | [4] | 15,793 | |||||||||||
Increase (decrease) in number of shares outstanding, conversion of instruments (in shares) | 2,005,190 | ||||||||||||
Convertible securities, conversion price (in dollars per share) | $ 10.20 | $ 10.20 | $ 10.20 | ||||||||||
Major ordinary share transactions [member] | |||||||||||||
Statement Line Items [Line Items] | |||||||||||||
Increase (decrease) in number of shares outstanding, conversion of instruments (in shares) | 2,005,190 | ||||||||||||
Convertible securities, conversion price (in dollars per share) | $ 10.20 | ||||||||||||
Tembo e-LV B.V. [member] | |||||||||||||
Statement Line Items [Line Items] | |||||||||||||
Increase (decrease) in number of shares outstanding, business combination (in shares) | 15,793 | ||||||||||||
Tottenham Hotspurs Football Club (THFC) [member] | |||||||||||||
Statement Line Items [Line Items] | |||||||||||||
Increase (decrease) in number of shares outstanding, investments (in shares) | 49,750 | ||||||||||||
AWN Holdings Limited [member] | Major ordinary share transactions [member] | |||||||||||||
Statement Line Items [Line Items] | |||||||||||||
Increase (decrease) in number of shares outstanding, conversion of instruments (in shares) | 1,959,339 | ||||||||||||
[1] | During the year, the Company completed a series of capital raises on NASDAQ. A total of 4,091,019 ordinary shares were issued, comprising 3,382,350 ordinary shares issued on October 19, 2020 as an underwritten public offering pursuant to an F-1 registration statement filed with the SEC on October 14, 2020, and 708,669 ordinary shares issued during June 2021, as at the market price (an ATM offering), pursuant to an F-3 registration statement filed with the SEC on December 21, 2020. | ||||||||||||
[2] | In February 2021, 49,750 ordinary shares were issued to Tottenham Hotspur Football Club (“THFC”) as part of the Battery partnership. | ||||||||||||
[3] | 792,126 shares were issued to employees and directors of the Company and consultants to the Company under the Omnibus Incentive Plan during the year. | ||||||||||||
[4] | In February 2021, 15,793 restricted ordinary shares were issued as part consideration for the purchase of the non-controlling interest in Tembo e-LV B.V. |
Note 25 - Called Up Share Cap_4
Note 25 - Called Up Share Capital - Share Capital (Details) - USD ($) | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Ordinary shares | $ 222,000 | $ 163,000 | $ 163,000 | $ 163,000 |
Ordinary shares [member] | ||||
Statement Line Items [Line Items] | ||||
Ordinary shares | $ 222,074 | $ 162,689 | $ 162,689 | $ 162,689 |
Number allotted (in shares) | 18,506,064 | 13,557,376 | 13,557,376 | 13,557,376 |
Note 25 - Called Up Share Cap_5
Note 25 - Called Up Share Capital - Share Capital (Details) (Parentheticals) - Ordinary shares [member] - $ / shares | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Number of Shares (in dollars per share) | $ 0.012 | $ 0.012 | $ 0.012 | $ 0.012 |
Number of Shares (in dollars per share) | $ 0.012 | $ 0.012 | $ 0.012 | $ 0.012 |
Note 25 - Called Up Share Cap_6
Note 25 - Called Up Share Capital - Share Outstanding (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Oct. 19, 2020 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | ||
Statement Line Items [Line Items] | |||||||
Balance, shares (in shares) | 18,506,064 | 18,506,064 | 13,557,376 | 13,557,376 | |||
Balance | $ 40,418 | $ 40,418 | $ 17,890 | $ 23,985 | |||
Balance, shares (in shares) | 13,557,376 | 13,557,376 | |||||
Balance | $ 17,890 | $ 22,516 | |||||
Capital raises, shares (in shares) | 708,669 | 3,382,350 | 4,091,019 | [1] | |||
Capital raises | $ 31,562 | ||||||
THFC investment, shares (in shares) | [2] | 49,750 | |||||
Employee share scheme issues, shares (in shares) | [3] | 792,126 | |||||
Employee share scheme issues | $ 1,077 | $ 344 | |||||
Acquisition of non-controlling interest in subsidiary, shares (in shares) | [4] | 15,793 | |||||
Balance, shares (in shares) | 18,506,064 | 18,506,064 | 13,557,376 | ||||
Balance | $ 40,418 | $ 40,418 | $ 17,890 | ||||
Issued capital [member] | |||||||
Statement Line Items [Line Items] | |||||||
Balance | 222 | 222 | 163 | 163 | |||
Balance | 163 | 163 | |||||
Capital raises | [1] | 49 | |||||
THFC investment | [2] | 1 | |||||
Employee share scheme issues | 9 | [3] | 0 | ||||
Acquisition of non-controlling interest in subsidiary | [4] | 0 | |||||
Balance | 222 | 222 | 163 | ||||
Share premium [member] | |||||||
Statement Line Items [Line Items] | |||||||
Balance | 76,229 | 76,229 | 40,215 | 40,215 | |||
Balance | 40,215 | 40,215 | |||||
Capital raises | [1] | 34,317 | |||||
THFC investment | [2] | 499 | |||||
Employee share scheme issues | 961 | [3] | 0 | ||||
Acquisition of non-controlling interest in subsidiary | [4] | 237 | |||||
Balance | 76,229 | 76,229 | 40,215 | ||||
Issued capital and share premium [member] | |||||||
Statement Line Items [Line Items] | |||||||
Balance | 76,451 | 76,451 | 40,378 | $ 40,378 | |||
Balance | 40,378 | 40,378 | |||||
Capital raises | [1] | 34,366 | |||||
THFC investment | [2] | 500 | |||||
Employee share scheme issues | [3] | 970 | |||||
Acquisition of non-controlling interest in subsidiary | [4] | 237 | |||||
Balance | $ 76,451 | $ 76,451 | $ 40,378 | ||||
[1] | During the year, the Company completed a series of capital raises on NASDAQ. A total of 4,091,019 ordinary shares were issued, comprising 3,382,350 ordinary shares issued on October 19, 2020 as an underwritten public offering pursuant to an F-1 registration statement filed with the SEC on October 14, 2020, and 708,669 ordinary shares issued during June 2021, as at the market price (an ATM offering), pursuant to an F-3 registration statement filed with the SEC on December 21, 2020. | ||||||
[2] | In February 2021, 49,750 ordinary shares were issued to Tottenham Hotspur Football Club (“THFC”) as part of the Battery partnership. | ||||||
[3] | 792,126 shares were issued to employees and directors of the Company and consultants to the Company under the Omnibus Incentive Plan during the year. | ||||||
[4] | In February 2021, 15,793 restricted ordinary shares were issued as part consideration for the purchase of the non-controlling interest in Tembo e-LV B.V. |
Note 26 - Other Reserves (Detai
Note 26 - Other Reserves (Details Textual) | Jul. 21, 2021$ / sharesshares | Jun. 30, 2021USD ($)$ / sharesshares | Aug. 07, 2020USD ($)$ / sharesshares | Mar. 30, 2017USD ($)$ / sharesshares | Jun. 30, 2019USD ($)shares | Jun. 30, 2021USD ($)$ / sharesshares | Jun. 30, 2021USD ($)$ / sharesshares | Jun. 30, 2020USD ($)$ / sharesshares | Mar. 31, 2019USD ($)shares | Jun. 30, 2021$ / shares | Aug. 31, 2020AUD ($)shares | Jun. 30, 2020AUD ($)$ / sharesshares | Apr. 30, 2020$ / shares |
Statement Line Items [Line Items] | |||||||||||||
Convertible securities, conversion price (in dollars per share) | $ / shares | $ 10.20 | $ 10.20 | $ 10.20 | $ 10.20 | |||||||||
Number of convertible preference shares outstanding (in shares) | shares | 2,473,367 | 2,473,367 | |||||||||||
Convertible preference, shares, face value, price per share (in AUD per share) | (per share) | $ 3 | $ 3 | |||||||||||
Convertible preference shares, value, face value and accrued dividends | $ 11,059,348 | ||||||||||||
Number of Instruments, Convertible Loan Notes Outstanding (in shares) | shares | 2,473,367 | 2,473,367 | |||||||||||
Convertible loan notes, shares, face value, price per share (in AUD per share) | (per share) | $ 7 | $ 7 | |||||||||||
Convertible loan notes, value, face value and accrued dividends | $ 25,075,203 | ||||||||||||
Equity Instruments, Quarterly Interest Rate | 7.00% | 7.00% | |||||||||||
Convertible securities, issue price (in dollars per share) | $ / shares | $ 10 | ||||||||||||
Number of convertible loan notes and preference shares converted to preference shares (in shares) | shares | 426,528 | ||||||||||||
Number of shares outstanding at end of period (in shares) | shares | 18,506,064 | 13,557,376 | 18,506,064 | 18,506,064 | 13,557,376 | 13,557,376 | 13,557,376 | ||||||
Issued capital | $ 222,000 | $ 163,000 | $ 222,000 | $ 222,000 | $ 163,000 | $ 163,000 | |||||||
Interest paid | $ 26,708 | ||||||||||||
Dividends paid | $ 11,447 | ||||||||||||
Number of convertible loan notes and preference shares converted to ordinary shares (in shares) | shares | 2,005,190 | ||||||||||||
Increase (decrease) through conversion of convertible instruments, equity | $ 20,500,000 | 20,500,000 | |||||||||||
Increase (decrease) in number of shares outstanding, conversion of instruments (in shares) | shares | 2,005,190 | ||||||||||||
Share issue related cost | 2,800,000 | ||||||||||||
Reserves for equity incentive costs | $ 1,422,000 | $ 1,422,000 | 1,422,000 | 344,000 | |||||||||
Increase (decrease) through equity instruments, equity | $ (3,000) | $ (3,141,000) | $ 971,000 | ||||||||||
Purchase of Treasury Shares, Shares (in shares) | shares | 129,805 | ||||||||||||
Treasury Shares, Shares Repurchased, Price Per Share (in dollars per share) | $ / shares | $ 4.50 | ||||||||||||
Treasury shares | $ 591,911 | ||||||||||||
Treasury shares issued (in shares) | shares | 75,805 | ||||||||||||
Expense from share-based payment transactions with employees | $ 85,660 | ||||||||||||
Increase (decrease) through treasury share transactions, equity | $ (260,011) | ||||||||||||
Number of share options outstanding in share-based payment arrangement at end of period | 828,000 | ||||||||||||
Weighted average exercise price of share options outstanding in share-based payment arrangement at end of period (in dollars per share) | $ / shares | $ 8.70 | ||||||||||||
Major ordinary share transactions [member] | |||||||||||||
Statement Line Items [Line Items] | |||||||||||||
Convertible securities, conversion price (in dollars per share) | $ / shares | $ 10.20 | ||||||||||||
Increase (decrease) in number of shares outstanding, conversion of instruments (in shares) | shares | 2,005,190 | ||||||||||||
Aevitas Preference Shares [member] | |||||||||||||
Statement Line Items [Line Items] | |||||||||||||
Number of shares outstanding at end of period (in shares) | shares | 426,528 | 426,528 | 426,528 | 426,528 | |||||||||
Issued capital | $ 3,208,922 | $ 3,208,922 | $ 3,208,922 | $ 4,265,280 | |||||||||
Dividends paid | 121,905 | ||||||||||||
Dividends recognised as distributions to non-controlling interests | $ 185,480 | ||||||||||||
Par value per share (in AUD per share) | $ / shares | $ 10 |
Note 26 - Other Reserves - Othe
Note 26 - Other Reserves - Other Reserves (Details) - USD ($) | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | ||
Statement Line Items [Line Items] | ||||
Balance | $ 23,985,000 | $ 17,890,000 | $ 22,516,000 | |
Equity instruments | (3,000) | (3,141,000) | 971,000 | |
Disposal of treasury shares | 62,000 | |||
Other reserves | 6,000 | |||
Employee share awards | 1,077,000 | 344,000 | ||
Share issuance costs | (2,800,000) | |||
Balance | 22,516,000 | 40,418,000 | 17,890,000 | |
Reserve for equity instruments [member] | ||||
Statement Line Items [Line Items] | ||||
Balance | [1] | 26,090,000 | 27,057,000 | 26,087,000 |
Equity instruments | [1] | (3,000) | 970,000 | |
Disposal of treasury shares | [1] | 0 | ||
Other reserves | [1] | 0 | ||
Employee share awards | [1] | 0 | ||
Conversion to Aevitas preference shares | [1] | (2,998,000) | ||
Interest on equity instruments | [1] | 114,000 | ||
Equity instruments payments | [1] | (3,317,000) | ||
Conversion to ordinary shares pending issue in VivoPower International PLC | (20,466,000) | |||
Capital raising costs | [1] | 0 | ||
Share issuance costs | [1] | 0 | ||
Equity incentives cost less shares issued | [1] | 0 | ||
Other movements | [1] | (390,000) | ||
Balance | [1] | 26,087,000 | 0 | 27,057,000 |
Reserve for preference shares [member] | ||||
Statement Line Items [Line Items] | ||||
Balance | [1] | 0 | 0 | 0 |
Equity instruments | [1] | 0 | 0 | |
Disposal of treasury shares | [1] | 0 | ||
Other reserves | [1] | 0 | ||
Employee share awards | [1] | 0 | ||
Conversion to Aevitas preference shares | [1] | 2,998,000 | ||
Interest on equity instruments | [1] | 185,000 | ||
Equity instruments payments | [1] | (123,000) | ||
Conversion to ordinary shares pending issue in VivoPower International PLC | 0 | |||
Capital raising costs | [1] | 0 | ||
Equity incentives cost less shares issued | [1] | 0 | ||
Other movements | [1] | 210,000 | ||
Balance | [1] | 0 | 3,270,000 | 0 |
Reserve for shares pending issue [member] | ||||
Statement Line Items [Line Items] | ||||
Balance | [2] | 0 | 0 | 0 |
Equity instruments | [2] | 0 | 0 | |
Disposal of treasury shares | [2] | 0 | ||
Other reserves | [2] | 0 | ||
Employee share awards | [2] | 0 | ||
Conversion to Aevitas preference shares | [2] | 0 | ||
Interest on equity instruments | [2] | 0 | ||
Equity instruments payments | [2] | 0 | ||
Conversion to ordinary shares pending issue in VivoPower International PLC | 20,466,000 | |||
Capital raising costs | [2] | 0 | ||
Share issuance costs | [2] | |||
Equity incentives cost less shares issued | [2] | 0 | ||
Other movements | [2] | 0 | ||
Balance | [2] | 0 | 20,466,000 | 0 |
Reserve for capital raising costs [member] | ||||
Statement Line Items [Line Items] | ||||
Balance | [3] | (9,722,000) | (6,009,000) | (9,722,000) |
Equity instruments | [3] | 0 | ||
Disposal of treasury shares | [3] | 0 | ||
Other reserves | [3] | 3,713,000 | ||
Employee share awards | [3] | |||
Conversion to Aevitas preference shares | [3] | 0 | ||
Interest on equity instruments | [3] | 0 | ||
Equity instruments payments | [3] | 0 | ||
Conversion to ordinary shares pending issue in VivoPower International PLC | 0 | |||
Capital raising costs | [3] | (2,804,000) | ||
Share issuance costs | [3] | (15,000) | ||
Equity incentives cost less shares issued | [3] | 0 | ||
Other movements | [3] | 0 | ||
Balance | [3] | (9,722,000) | (8,828,000) | (6,009,000) |
Reserve for equity incentive costs [member] | ||||
Statement Line Items [Line Items] | ||||
Balance | [4] | 0 | 344,000 | 0 |
Equity instruments | [4] | 0 | 1,000 | |
Disposal of treasury shares | [4] | 0 | ||
Other reserves | [4] | 17,000 | ||
Employee share awards | [4] | 326,000 | ||
Conversion to Aevitas preference shares | [4] | 0 | ||
Interest on equity instruments | [4] | 0 | ||
Equity instruments payments | [4] | 0 | ||
Conversion to ordinary shares pending issue in VivoPower International PLC | 0 | |||
Capital raising costs | [4] | 0 | ||
Share issuance costs | [4] | 0 | ||
Equity incentives cost less shares issued | [4] | 1,078,000 | ||
Other movements | [4] | 0 | ||
Balance | [4] | 0 | 1,422,000 | 344,000 |
Reserve for share awards issuance [member] | ||||
Statement Line Items [Line Items] | ||||
Balance | [4] | 0 | 0 | 0 |
Equity instruments | [4] | 0 | 0 | |
Disposal of treasury shares | [4] | 0 | ||
Other reserves | [4] | 0 | ||
Employee share awards | [4] | 0 | ||
Conversion to Aevitas preference shares | [4] | 0 | ||
Interest on equity instruments | [4] | 0 | ||
Equity instruments payments | [4] | 0 | ||
Conversion to ordinary shares pending issue in VivoPower International PLC | 0 | |||
Capital raising costs | [4] | 0 | ||
Share issuance costs | [4] | 0 | ||
Equity incentives cost less shares issued | [4] | (971,000) | ||
Other movements | [4] | 0 | ||
Balance | [4] | 0 | (971,000) | 0 |
Reserve for treasury shares [member] | ||||
Statement Line Items [Line Items] | ||||
Balance | [5] | (246,000) | 0 | (13,000) |
Equity instruments | [5] | 0 | ||
Disposal of treasury shares | [5] | 233,000 | ||
Other reserves | [5] | 0 | ||
Employee share awards | [5] | 13,000 | ||
Conversion to Aevitas preference shares | [5] | 0 | ||
Interest on equity instruments | [5] | 0 | ||
Equity instruments payments | [5] | 0 | ||
Conversion to ordinary shares pending issue in VivoPower International PLC | 0 | |||
Capital raising costs | [5] | 0 | ||
Share issuance costs | [5] | 0 | ||
Equity incentives cost less shares issued | [5] | 0 | ||
Other movements | [5] | 0 | ||
Balance | [5] | (13,000) | 0 | 0 |
Reserve for share option [member] | ||||
Statement Line Items [Line Items] | ||||
Balance | [6] | 3,713,000 | 0 | 3,713,000 |
Equity instruments | [6] | 0 | 0 | |
Disposal of treasury shares | [6] | 0 | ||
Other reserves | [6] | (3,713,000) | ||
Employee share awards | [6] | 0 | ||
Conversion to Aevitas preference shares | [6] | 0 | ||
Interest on equity instruments | [6] | 0 | ||
Equity instruments payments | [6] | 0 | ||
Conversion to ordinary shares pending issue in VivoPower International PLC | 0 | |||
Capital raising costs | [6] | 0 | ||
Share issuance costs | [6] | 0 | ||
Equity incentives cost less shares issued | [6] | 0 | ||
Other movements | [6] | 0 | ||
Balance | [6] | 3,713,000 | 0 | 0 |
Reserve for foreign exchange [member] | ||||
Statement Line Items [Line Items] | ||||
Balance | 11,000 | 16,000 | 11,000 | |
Equity instruments | 0 | 0 | ||
Disposal of treasury shares | 0 | |||
Other reserves | 0 | |||
Employee share awards | 5,000 | |||
Conversion to Aevitas preference shares | 0 | |||
Interest on equity instruments | 0 | |||
Equity instruments payments | 0 | |||
Conversion to ordinary shares pending issue in VivoPower International PLC | 0 | |||
Capital raising costs | 0 | |||
Share issuance costs | 0 | |||
Equity incentives cost less shares issued | 0 | |||
Other movements | (61,000) | |||
Balance | 11,000 | (45,000) | 16,000 | |
Other reserves [member] | ||||
Statement Line Items [Line Items] | ||||
Balance | 19,846,000 | 21,408,000 | 20,076,000 | |
Equity instruments | (3,000) | (3,141,000) | 971,000 | |
Disposal of treasury shares | 233,000 | |||
Other reserves | 17,000 | |||
Employee share awards | 107,000 | 344,000 | ||
Conversion to Aevitas preference shares | 0 | |||
Interest on equity instruments | 299,000 | |||
Equity instruments payments | (3,440,000) | |||
Conversion to ordinary shares pending issue in VivoPower International PLC | 0 | |||
Capital raising costs | (2,804,000) | |||
Share issuance costs | (15,000) | |||
Equity incentives cost less shares issued | 107,000 | |||
Other movements | (241,000) | |||
Balance | $ 20,076,000 | $ 15,314,000 | $ 21,408,000 | |
[1] | Equity instruments held at June 30, 2020 were convertible preference shares and convertible loan notes in Aevitas Group Limited (“Aevitas Group”) which must convert to shares of VivoPower at $10.20 per share no later than June 30, 2021. The Company classified these instruments as equity under the “fixed-for-fixed” rule meaning that both the amount of consideration received/receivable and the number of equity instruments to be issued is fixed. There were 2,473,367 convertible preference shares outstanding with a face value of AU$3.00 per share and a value held in reserves of AU$11,059,348 at June 30, 2020, representing their face value plus dividends accrued. Convertible preference shares were subordinated to all creditors of Aevitas Group, ranked equally amongst themselves, and ranked in priority to ordinary shares of Aevitas Group. There were 2,473,367 convertible loan notes outstanding with a face value of AU$7.00 per share and a value held in reserves of AU$25,075,203, representing their face value plus the dividends accrued. The convertible loan notes ranked equally with the unsecured creditors of Aevitas Group. Dividends or interest were payable quarterly in arrears at a rate of 7% on the capitalized value to December 29, 2016, the date at which they became convertible to VivoPower shares. At maturity, or if a trigger event such as a change of control of Aevitas Group or VivoPower, a listing event, or a disposal of substantially all of the assets of Aevitas Group had occurred, the convertible preference shares and convertible loan notes in Aevitas Group convert to VivoPower ordinary shares at a price of US$10.20 per share On August 7, 2020, the Company offered one new Aevitas Preference Share, with an issue price of $10, in exchange for each combined convertible note and convertible preference share, with an issue price of $7 and $3 respectively. Dividends are payable quarterly, in arrears, at a rate of 7%. Of the 2,473,367 holders of combined convertible note and convertible preference shares, 426,528 holders accepted the terms of the new Aevitas Preference Shares and received 426,528 Aevitas Preference Shares (A$4,265,280) on August 31, 2020, in exchange for the combined convertible notes and convertible preference shares previously held. The new Aevitas Preference Shares are subordinated to all creditors of Aevitas Group, rank equally amongst themselves, and rank in priority to Aevitas Group Limited ordinary shares for the payment of dividends. The 426,528 holders which exchanged on August 31, 2020, had earned $26,708 interest on the convertible loan note in the year ended June 20, 2021, up until exchange, and this was paid in full along with $11,447 dividends that accrued over the same pre-exchange period on the convertible preference shares. Post-exchange, $185,480 dividends of the Aevitas Preference Shares have been earned, with $121,905 of those paid by June 30, 2021. And the 426,528 Aevitas Preference Shares have a face value of $3,208,922 (A$10 per share), recognized together with the dividends payable. On June 30, 2021, the remaining 2,005,190 holders of convertible preference shares and convertible loan notes in Aevitas Group Limited (“Aevitas Group”), exercised their right to convert the instruments into ordinary shares in VivoPower International PLC. The cumulative balance of face value and accrued unpaid interest and dividends outstanding of the convertible preference shares and convertible loan notes at June 30, 2021 of $20.5 million, was redeemed on that date, and VivoPower International PLC recognized the requirement to issue 2,005,190 restricted ordinary shares, based on a contracted conversion price of $10.20 per share. | |||
[2] | $20.5 million recognition in equity of the 2,005,190 restricted ordinary shares pending issuance at a contracted conversion price of $10.20 per share. The 2,005,190 restricted ordinary shares were issued on July 21, 2021. | |||
[3] | During the year the Company incurred $2.8m of transaction costs associated with a series of capital raises on NASDAQ and an issue of shares to Tottenham Hotspur Football Club. | |||
[4] | During the year $1,422,000 was expensed towards share incentive awards to employees, directors, and consultants of the Company under the Omnibus Incentive Plan. Amounts are expensed at the award grant price over the vesting period, adjusted for actual quantities upon vesting. Of the expenses recorded, $971,000 of shares were delivered to participants in the year. During the year ended June 30, 2020, share incentives were granted to employees and directors of the Company, under the Company’s 2017 Omnibus Incentive Plan. Of the share awards granted, $344,000 of shares fully vested or had a vesting period commencing in the year ended June 30, 2020. | |||
[5] | On March 30, 2017, the Company repurchased 129,805 shares at a price of $4.50 for a total sum of $591,911, including commission, and held them as treasury shares. During the year ended March 31, 2019, 75,805 of these shares were awarded to employees under the Company’s 2017 Omnibus Incentive Plan. Based on the closing market value of these shares on the day of award, $85,660 was expensed as employee compensation and remaining cost of $260,011 was charged against retained earnings. | |||
[6] | The share option reserve represents 828,000 share options granted to Early Bird Capital as part of the initial public share offering. The options entitled the holder to buy VivoPower ordinary shares at US$8.70 at any time before April 30, 2020. The options were originally accounted for as a share-based award and accordingly, the cost of the award was recognized directly in equity and was applied against capital raising costs. The fair value of the options was determined at the grant date, using the Black Scholes Model, and not remeasured subsequently. The options lapsed in April 2020, accordingly the reserve has been released and credited against capital raising costs |
Note 27 - Earnings Per Share -
Note 27 - Earnings Per Share - Earnings Per Share (Details) - USD ($) $ / shares in Units, shares in Thousands, $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | |
Statement Line Items [Line Items] | ||||
Loss for the year / period attributable to equity owners | $ (1,446) | $ (7,571) | $ (5,103) | $ (11,223) |
Weighted average number of shares in issue (‘000s) (in shares) | 13,557 | 16,307 | 13,557 | 13,557 |
Basic earnings/(loss) per share (dollars) (in dollars per share) | $ (0.11) | $ (0.46) | $ (0.38) | $ (0.83) |
Diluted earnings/(loss) per share (dollars) (in dollars per share) | $ (0.11) | $ (0.46) | $ (0.38) | $ (0.83) |
Note 28 - Pensions (Details Tex
Note 28 - Pensions (Details Textual) - USD ($) $ in Thousands | 3 Months Ended | 12 Months Ended | ||
Jun. 30, 2019 | Jun. 30, 2021 | Jun. 30, 2020 | Mar. 31, 2019 | |
Statement Line Items [Line Items] | ||||
Post-employment benefit expense, defined contribution plans | $ 270 | $ 800 | $ 790 | $ 760 |
Superannuation in Australia [member] | ||||
Statement Line Items [Line Items] | ||||
Pension Plan, Employer Contribution Rate | 9.50% | |||
Pension for UK employees [member] | ||||
Statement Line Items [Line Items] | ||||
Pension Plan, Employer Contribution Rate | 7.00% | 4.00% | ||
Pension for Netherlands employees [member] | ||||
Statement Line Items [Line Items] | ||||
Pension Plan, Employer Contribution Rate | 10.30% |
Note 29 - Financial Instrumen_3
Note 29 - Financial Instruments (Details Textual) $ in Thousands | 3 Months Ended | 12 Months Ended | |||
Jun. 30, 2019USD ($) | Jun. 30, 2021USD ($) | Jun. 30, 2020USD ($) | Mar. 31, 2019USD ($) | Mar. 31, 2018USD ($) | |
Statement Line Items [Line Items] | |||||
Total cash and cash equivalents | $ 7,129 | $ 8,604 | $ 2,824 | $ 4,522 | $ 1,939 |
Current Ratio | 1.25 | 1.79 | 1.04 | 1.43 | |
Total borrowings | $ 21,686 | $ 23,091 | $ 25,954 | $ 19,267 | |
Restricted cash and cash equivalents | 632 | 1,140 | 1,013 | 1,319 | |
Total provisions | 3,818 | 2,967 | 3,066 | 3,932 | |
Total non-current portion of non-current borrowings | 19,359 | 22,087 | 24,642 | 18,380 | |
Currency risk, AUD [member] | |||||
Statement Line Items [Line Items] | |||||
Total cash and cash equivalents | 2,300 | ||||
Total borrowings | 3,800 | ||||
Restricted cash and cash equivalents | 1,100 | ||||
Total trade and other receivables | 8,400 | ||||
Total trade and other payables | 10,600 | ||||
Total provisions | 2,200 | ||||
Currency risk EUR [member] | |||||
Statement Line Items [Line Items] | |||||
Total cash and cash equivalents | 900 | ||||
Total borrowings | 300 | ||||
Total trade and other receivables | 1,000 | ||||
Total trade and other payables | 1,000 | ||||
Total provisions | 300 | ||||
Currency risk, GBP [member] | |||||
Statement Line Items [Line Items] | |||||
Total cash and cash equivalents | 100 | ||||
Total trade and other receivables | 200 | ||||
Total trade and other payables | 900 | ||||
Total provisions | 500 | ||||
Debtor finance facility to support working capital requirements [member] | |||||
Statement Line Items [Line Items] | |||||
Line of credit, maximum borrowing capacity | 3,600 | ||||
Total borrowings | 900 | 0 | 500 | 800 | |
Shareholder loans [member] | |||||
Statement Line Items [Line Items] | |||||
Total non-current portion of non-current borrowings | $ 18,242 | $ 21,175 | $ 23,401 | $ 18,242 |
Note 29 - Financial Instrumen_4
Note 29 - Financial Instruments - Financial Instruments (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 | Mar. 31, 2018 |
Statement Line Items [Line Items] | |||||
Cash at bank and in hand | $ 8,604 | $ 2,824 | $ 7,129 | $ 4,522 | $ 1,939 |
Restricted cash | 1,140 | 1,013 | 632 | 1,319 | |
Total liabilities | 23,091 | 25,954 | 21,686 | 19,267 | |
Financial assets at amortised cost, category [member] | |||||
Statement Line Items [Line Items] | |||||
Trade and other receivables | 6,970 | 8,587 | 8,144 | 7,971 | |
Cash at bank and in hand | 8,604 | 2,824 | 7,129 | 4,522 | |
Restricted cash | 1,140 | 1,013 | 632 | 1,319 | |
Total | 16,714 | 12,424 | 15,905 | 13,812 | |
Total liabilities | 23,091 | 25,954 | 21,686 | 19,267 | |
Trade and other payables | 5,751 | 7,504 | 12,281 | 11,016 | |
Total | $ 28,842 | $ 33,458 | $ 33,967 | $ 30,283 |
Note 29 - Financial Instrumen_5
Note 29 - Financial Instruments - Contractual Maturities of Financial Liabilities (Details) - USD ($) $ in Thousands | Jun. 30, 2021 | Jun. 30, 2020 | Jun. 30, 2019 | Mar. 31, 2019 |
Statement Line Items [Line Items] | ||||
Trade and other payables (financial liabilities) | $ 5,751 | $ 7,504 | $ 12,281 | $ 11,016 |
Borrowings | 22,096 | 24,598 | 23,397 | 22,480 |
Lease liabilities | 995 | 1,356 | 1,991 | 290 |
Total | 28,842 | 33,458 | 37,669 | 33,786 |
Not later than one year [member] | ||||
Statement Line Items [Line Items] | ||||
Trade and other payables (financial liabilities) | 5,751 | 7,504 | 12,281 | 11,016 |
Borrowings | 411 | 688 | 3,859 | 2,556 |
Lease liabilities | 669 | 649 | 692 | 147 |
Total | 6,831 | 8,841 | 16,832 | 13,719 |
Later than one year and not later than three years [member] | ||||
Statement Line Items [Line Items] | ||||
Trade and other payables (financial liabilities) | 0 | 0 | 0 | 0 |
Borrowings | 11,424 | 23,873 | 19,538 | 19,924 |
Lease liabilities | 326 | 654 | 1,077 | 143 |
Total | 11,750 | 24,527 | 20,615 | 20,067 |
Later than three years and not later than five years [member] | ||||
Statement Line Items [Line Items] | ||||
Trade and other payables (financial liabilities) | 0 | 0 | 0 | 0 |
Borrowings | 10,261 | 37 | 0 | 0 |
Lease liabilities | 0 | 53 | 222 | 0 |
Total | 10,261 | 90 | 222 | 0 |
Later than five years [member] | ||||
Statement Line Items [Line Items] | ||||
Trade and other payables (financial liabilities) | 0 | 0 | 0 | 0 |
Borrowings | 0 | 0 | 0 | 0 |
Lease liabilities | 0 | 0 | 0 | 0 |
Total | $ 0 | $ 0 | $ 0 | $ 0 |
Note 30 - Related Party Trans_2
Note 30 - Related Party Transactions (Details Textual) | Jun. 30, 2021USD ($)$ / sharesshares | Aug. 07, 2020USD ($) | Dec. 31, 2020USD ($) | Jun. 30, 2021USD ($)$ / sharesshares | Jun. 30, 2021USD ($)$ / sharesshares | Jun. 30, 2020USD ($)$ / sharesshares | Jun. 30, 2021AUD ($)shares | Aug. 31, 2020AUD ($)shares | Feb. 29, 2020 | Jun. 30, 2019USD ($)shares | Mar. 31, 2019USD ($)shares |
Statement Line Items [Line Items] | |||||||||||
Interest paid | $ 26,708 | ||||||||||
Dividends paid | $ 11,447 | ||||||||||
Convertible securities, conversion price (in dollars per share) | $ / shares | $ 10.20 | $ 10.20 | $ 10.20 | $ 10.20 | |||||||
Number of Instruments, Convertible Loan Notes Outstanding (in shares) | shares | 2,473,367 | ||||||||||
Total borrowings | $ 23,091,000 | $ 23,091,000 | $ 23,091,000 | $ 25,954,000 | $ 21,686,000 | $ 19,267,000 | |||||
Number of convertible preference shares outstanding (in shares) | shares | 2,473,367 | ||||||||||
Number of shares outstanding at end of period (in shares) | shares | 18,506,064 | 18,506,064 | 18,506,064 | 13,557,376 | 18,506,064 | 13,557,376 | 13,557,376 | ||||
Issued capital | $ 222,000 | $ 222,000 | $ 222,000 | $ 163,000 | $ 163,000 | $ 163,000 | |||||
Aevitas Preference Shares [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Dividends paid | $ 121,905 | ||||||||||
Number of shares outstanding at end of period (in shares) | shares | 426,528 | 426,528 | 426,528 | 426,528 | 426,528 | ||||||
Issued capital | $ 3,208,922 | $ 3,208,922 | $ 3,208,922 | $ 4,265,280 | |||||||
Arowana International Limited [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Chief financial officer, fees | 1,028,096 | ||||||||||
Interest paid | 737,220 | ||||||||||
Dividends paid | 315,951 | ||||||||||
Dividends and interest paid | $ 2,397,488 | ||||||||||
Convertible securities, conversion price (in dollars per share) | $ / shares | $ 10.20 | $ 10.20 | $ 10.20 | ||||||||
Arowana International Limited [member] | Directors fees for Michael Hui [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Non-executive directors fees | $ 48,000 | ||||||||||
Amounts payable, related party transactions | $ 0 | $ 0 | 0 | ||||||||
Amounts receivable, related party transactions | 1,000 | 1,000 | 1,000 | ||||||||
Arowana International Limited [member] | Cost incurred by Arowana on behalf of VivoPower [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Amounts payable, related party transactions | $ 4,345 | $ 4,345 | 4,345 | 202,024 | $ 1,268,670 | $ 1,268,670 | |||||
Arowana International Limited [member] | Executive fees for Kevin Chin [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Executive fees | 443,816 | ||||||||||
Annual training allowance costs | 51,976 | ||||||||||
Arowana International Limited [member] | Chairman fees for Kevin Chin [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Chairman fees | $ 92,119 | ||||||||||
Michael Hui [member] | RSUs [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Number of other equity instruments exercised or vested in share-based payment arrangement | 3,500 | ||||||||||
Total expense from share-based payment transactions in which goods or services received did not qualify for recognition as assets | $ 2,625 | ||||||||||
Michael Hui [member] | PSUs [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Number of other equity instruments exercised or vested in share-based payment arrangement | 27,095 | ||||||||||
Total expense from share-based payment transactions in which goods or services received did not qualify for recognition as assets | $ 20,321 | ||||||||||
Michael Hui [member] | One-off RSUs [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Number of other equity instruments exercised or vested in share-based payment arrangement | 7,788 | ||||||||||
Total expense from share-based payment transactions in which goods or services received did not qualify for recognition as assets | $ 50,000 | ||||||||||
Notes payable to Arowana Australasian Special Situations 1B Pty Ltd [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Number of Instruments, Convertible Loan Notes Outstanding (in shares) | shares | 666,667 | 666,667 | 666,667 | 666,667 | |||||||
Total borrowings | $ 4,617,727 | $ 4,617,727 | $ 4,617,727 | ||||||||
Arowana Australasian Special Situations 1B Pty Ltd [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Total borrowings | $ 1,192,352 | $ 1,192,352 | $ 1,192,352 | ||||||||
Number of convertible preference shares outstanding (in shares) | shares | 388,889 | 388,889 | 388,889 | 388,889 | |||||||
Notes payable to Arowana Australasian Special Situations 1C Pty Ltd [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Number of Instruments, Convertible Loan Notes Outstanding (in shares) | shares | 666,667 | 666,667 | 666,667 | 666,667 | |||||||
Total borrowings | $ 4,617,727 | $ 4,617,727 | $ 4,617,727 | ||||||||
Arowana Australasian Special Situations 1C Pty Ltd [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Total borrowings | $ 1,192,352 | $ 1,192,352 | $ 1,192,352 | ||||||||
Number of convertible preference shares outstanding (in shares) | shares | 388,889 | 388,889 | 388,889 | 388,889 | |||||||
Arowana Australasian Special Situations Fund 1 Pty Limited [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Total borrowings | $ 2,555,038 | $ 2,555,038 | $ 2,555,038 | ||||||||
Number of convertible preference shares outstanding (in shares) | shares | 833,333 | 833,333 | 833,333 | 833,333 | |||||||
Panaga Group Trust [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Interest paid | $ 294 | ||||||||||
Dividends paid | $ 126 | ||||||||||
Convertible loan notes converted to preference shares (in shares) | shares | 4,697 | ||||||||||
Convertible preference shares converted to preference shares. (in shares) | shares | 4,697 | ||||||||||
Panaga Group Trust [member] | Aevitas Preference Shares [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Number of shares outstanding at end of period (in shares) | shares | 4,697 | 4,697 | 4,697 | 4,697 | |||||||
Issued capital | $ 46,970 | ||||||||||
Director, Kevin Chin [member] | Executive fees for Kevin Chin [member] | RSUs [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Number of other equity instruments exercised or vested in share-based payment arrangement | 17,740 | ||||||||||
Total expense from share-based payment transactions in which goods or services received did not qualify for recognition as assets | $ 13,080 | ||||||||||
Director, Kevin Chin [member] | Executive fees for Kevin Chin [member] | PSUs [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Number of other equity instruments exercised or vested in share-based payment arrangement | 135,012 | ||||||||||
Total expense from share-based payment transactions in which goods or services received did not qualify for recognition as assets | $ 101,259 | ||||||||||
Director, Kevin Chin [member] | Chairman fees for Kevin Chin [member] | One-off RSUs [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Number of other equity instruments exercised or vested in share-based payment arrangement | 7,788 | ||||||||||
Total expense from share-based payment transactions in which goods or services received did not qualify for recognition as assets | $ 50,000 | ||||||||||
Current related party loans with Arowana International Limited [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Notional amount | $ 23,400,000 | ||||||||||
Borrowings, interest rate | 8.00% | 8.00% | 8.00% | 8.00% | 10.00% | 8.00% | 10.00% | ||||
Borrowings, line fee, percentage | 0.80% | 0.80% | 0.80% | 0.80% | 2.00% | 0.80% | 2.00% | ||||
Borrowings, Term (Month) | 60 months | 60 months | 9 months | ||||||||
Borrowings, Periodic Payment | $ 350,000 | $ 350,000 | |||||||||
Repayments of borrowings | $ 2,200,000 | ||||||||||
Borrowings, refinancing fee | $ 340,000 | $ 340,000 | $ 340,000 | ||||||||
Notes payable to Arowana Australasian Special Situations 1A Pty Ltd [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Number of Instruments, Convertible Loan Notes Outstanding (in shares) | shares | 666,666 | 666,666 | 666,666 | 666,666 | |||||||
Total borrowings | $ 4,617,719 | $ 4,617,719 | $ 4,617,719 | ||||||||
Arowana Australasian Special Situations 1A Pty Ltd [member] | |||||||||||
Statement Line Items [Line Items] | |||||||||||
Total borrowings | $ 1,192,352 | $ 1,192,352 | $ 1,192,352 | ||||||||
Number of convertible preference shares outstanding (in shares) | shares | 388,889 | 388,889 | 388,889 | 388,889 |
Note 31 - Subsequent Event (Det
Note 31 - Subsequent Event (Details Textual) - shares | Jul. 21, 2021 | Jun. 30, 2021 |
Statement Line Items [Line Items] | ||
Increase (decrease) in number of shares outstanding, conversion of instruments (in shares) | 2,005,190 | |
AWN Holdings Limited [member] | ||
Statement Line Items [Line Items] | ||
Proportion of ownership interests held in the entity | 44.00% | |
Major ordinary share transactions [member] | ||
Statement Line Items [Line Items] | ||
Increase (decrease) in number of shares outstanding, conversion of instruments (in shares) | 2,005,190 | |
Major ordinary share transactions [member] | AWN Holdings Limited [member] | ||
Statement Line Items [Line Items] | ||
Increase (decrease) in number of shares outstanding, conversion of instruments (in shares) | 1,959,339 | |
Proportion of ownership interests held in the entity | 49.10% | |
Major ordinary share transactions [member] | AWN Holdings Limited [member] | ||
Statement Line Items [Line Items] | ||
Increase (decrease) in number of shares outstanding, conversion of instruments (in shares) | 1,959,339 |
Note 33 - Ultimate Controllin_2
Note 33 - Ultimate Controlling Party (Details Textual) - AWN Holdings Limited [member] | Jul. 21, 2021 | Jun. 30, 2021 |
Statement Line Items [Line Items] | ||
Proportion of ownership interests held in the entity | 44.00% | |
Major ordinary share transactions [member] | ||
Statement Line Items [Line Items] | ||
Proportion of ownership interests held in the entity | 49.10% |