gentlemen. and ladies morning, Good
Welcome to period presentation the year VivoPower XXst of half ended results December, for the XXXX.
I'll take the presentation, of three you firstly executive to summary. page our
during made So good at level, year. we a strategic headline progress the half very
weather However, foreign our exchange. and by results affected were unseasonal
dollar declined Australian to in due dollar U.S. revenue timing and the Our decline foreign a project the versus exchange rate.
to Edenvale one revenue decreased two prior million. in primarily attributable $X.X major versus XX% This with execution project, to year timing year-on-year half in project our period. undertake So Australia solar of is the
Skill shortages ability new have had take our an impact projects. to on on
on revenue dollar, decrease However, U.S. our at reduced rate XX%. basis, Australian constant was dollar a exchange
revenue, profit project margin Our and as was also as GP due one-off losses. This Edenvale decrease gross declined. well in to the
profit works due climate So of $X.X include GP declined versus Edenvale by of prior the experienced, a during Australia, year project. Edenvale minus and half part This to of leading year-on-year solar that cost on $X.X a than million million. $X.X damage to overruns as to gross project decreased encounter change-related is normally was XX% year of unfortunately, delays higher negative execution. forecast does doesn't project regional which was the X%. the in to extent in negative result, rainfall, margin, specific weather-driven and one-off rainfall million this of the
minus this for overruns, adjusted half was X% for cost Edenvale However, the year.
incurred principally one-off also the Edenvale project We operating loss. losses EBITDA to due
prior of year. exchange, $X.X for in year, not versus foreign negative and did negative revenues improved the mentioned. million half $X.X losses also previously by million million in EBITDA Losses actually Australia, the first increase to period. Operating So driven excluding million our loss, fiscal favorably half as adjusted corresponding moving to for reduced this were versus Edenvale, $X.X negative $X.X the
million the December, XX, as $X.X XXst as With year-end. position cash actually at increased increased to from respect to XXXX XXXX. our The balance $X.X of million at half sheet, our at June
scale-up Edenvale invested development. balance principally repayment partially the which major the Xst was was extension one-off derisk product of with and obviously for loan The the duration by cash AWN, and through our loss the Our of sheet Tembo extended XX months shareholder, terms unplanned. We XXXX. our did April, solar to
and partner Strategically, we now Tembo. our distribution We've made increased secondhand kits. and good expand beforehand, has able to into larger much commitments markets globally our network entered to been as book mentioned and also so addressable progress, order I over that have XX,XXX further the kit EV for
Importantly, the visited development customers of utility our vehicle. with positive test feedback key driven have vehicle, EUVXX which called target, on and the from next-generation electric we've is who
also as strategic further the initiatives fund completed and non-core growth. divestiture business, to well financing as We completed Electrical, J.A. of Martin our investment
in not the top but in terms governance best were of for the of a as impact the least, top year in Last by Real Awards. with B for Corp all we row summary, certified in the the again and verified in B score we a the world Impact XXX were a the of named one XX% world Leaders global company recognized third Corps
page to on four. moving Just
December, items ended the the year this key So XXXX. half and of developments some key covers XXst since
So, orders for and firstly, our next-generation our we've the commenced to first partners received also shipping we've vehicles EUVXX.
U.K. course as XXXX. Africa, in and that well material to coming our kits GHH of Jankel as production for months as order, this of prioritizing the for the over already March have. and conversion the our partner first of and key the South Canada, the as deliveries to Customer we order So have in over others ramping fulfill agreed we midst in scheduled are been well EUVXX we're in up thankful Accès February
is on EUVXX regards the preproduction and completed component already the to we're vehicle of ramp difficult up. more testing suppliers testing. focused with XXX on suppliers. terrain version covered now major kilometers audits also extensive in supplier third-party We've first for We've track production the trouble-free to than with The final for component define
next So respect ramp is very much to focused delivery on stage which up. and the production with Tembo,
strategic also the on transactions date. We've executed financing half balance and year post
still So an that's the control of directly maintains we've by initial be Tembo. These AWN, funds of that our secured engineering, will and September $X and conversion kits. used major investments followed delivery for of further million, bridge shareholder, assembly for growth, committed out financing from Emirates been noting private VivoPower Tembo’s including majority
also the months six selective if the that's occurred a to past on basis, recruit companies great EV taking over We've other winter, from either advantage or months and accelerated in last will, EV talent are you downsizing who business. ceasing been of the three
and VivoPower EV in very are that world at one hiring moment. So in the Tembo of the remain few companies the mode
is being and talent we're market. the in That the a an are abundance selective it now of case year there ago. We very available seeing that wasn't about
clearly has Last we we've months project, least and to six the change climate patterns given importantly, very us not to which Edenvale but the disappointing had has concluding weather been last related very the with on hurt that and deal are financially there. over
end moment. to at a that to appears the expect XXXX, we days' stage, this project weather February few the conclude of at time, positive be So at
that So track. on be should
in critical that, Australia. Electrical executed In sale it's in reactive and electrical book Glencore start as a recently, seeing umbrella for order motors addition with pipeline. scheduled agreement overhaul, and Wales, and weeks, few South repair its the which Kenshaw maintenance, well New well, business three-year of as is part as of build past the really And our we're up to to Aevitas
months. momentum see Kenshaw over the we six further next So from to expect
that this five. fiscal at to slide the objectives on Moving of ourselves for July This back and key results is the year start in we XXXX. set
of eight for set we have to that the completed We XX ourselves out achieve.
be well to as and up build over deliveries next months to capabilities team's to as our very before, that. do six mentioned production, in and on we're up now I ramping months As much focused the order looking we'll assembly XX
Tembo. page ahead to talk seven. more a little Jumping I bit will about
$X.X September EBITDA loss the talents. year, half million $X.X results, revenues reflecting Underlying of for So million, growth in engineering especially achieved. of terms investment, was negative were OpEx in the
As time available battery is first in December, our version the on became mentioned, system. kilowatt-hour platform material on previous which EUVXX XX of upgrade a next-generation the generation
commitment secondhand it This addressable New partner is us ETC expands materially well deal expanded with additional Kenya, entered the as through with a network and distribution in Our we've markets our deal very significant over market the kits considerably. in with X,XXX as Zealand. Australia pipeline, into order repowering and and and our book for electrification in Evolution move and
beefed talent We've of Barker amongst hired Head also pool Engineering, up Phil the and new others December. since a
the both Tembo sales commercially, So a operationally pipeline respect commitments globally. to been progress with lot and there's on and front, of
which to us has Turning weather months. a at obviously here been coming six and page previous dynamic, big and one Aevitas, disappointment hurts unplanned a affected of eight. as mentioned which loss-making turned coattails was off before, in the the project be supposed our uncontrollable I results Edenvale to what into this has the for Bluegrass, profitable very the
still mindful patterns see and the the now So weather build-out and we but about solar cautious that, space in notwithstanding -- Australia. we growth potential very of given for across a are lot of very
and of second to pickup business As to confident resume over and its see business and this of growth a order terms and book, that, and I rebound year its will starting the in grow mentioned pipeline we're before, the a Kenshaw is continue that beyond. half
nine, page Energy Sustainable Solutions. to Turning
And other identified will already mining a EV focus to pivoted that experienced capabilities Tambo global Tembo and vehicles. this we're that to and collaboration in EUV. offer industries Distribution our have confident tested but have a being requirements holistic to through able customers with company. negotiations to have the is hardware are we secure in that partners, respect We with secured stage, be ongoing that advisers partners’ in more our partner and and an we regard, customers. solution example, and charging the contract for the we at for some augment This
a pivoting year in has things for strategy this ago, relation portfolio. Bitcoin we were to to this to Bitcoin on including Power-to-X strategy down been Caret as market, looking which our to page foreshadowed there's slowed Solar, in correction applications, respect at with miners. Obviously, Moving XX. the a
in a recent interest following weeks, rebounds reemergence price. seen of we've Bitcoin However, the in the
interest to credit seen the in of again that, the seeking reemerge into solar or terms Reduction addition restored which in is incentive these In buy States. we've in Act, us with projects and tax seen on has the Inflation income to United developers to partner being this response
in up wrap a half that's results. So for terms year of the me
climate results disappointing change. weather, due financial So to
on executing operational of and back that's our very the second been first the half. stemmed off for strategic now confident However, the the We're on of in progress in objectives year. half and strong
wraps Thank up for for the that year you. everyone, you, Thank presentation half joining, and VivoPower.
