VivoPower International

US: VVPR

Market Cap$107m

Last Close $5.17

VivoPower International’s strategy is to provide sustainable energy solutions on an international scale. Key activities include electric vehicles, critical power, sustainable energy solutions and solar development.

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Investment summary

The move into electric vehicles (EVs) through the acquisition of Tembo is a step-change for VivoPower International. It brings significant growth potential in a niche market while the group’s scale and presence has already delivered a number of distribution deals. Of particular note is the letter of intent (LOI) with Toyota Australia for volume deliveries and exclusive technical collaboration on the ubiquitous Land Cruiser, a positive endorsement of Tembo’s portfolio and capabilities. The group has another four distributors signed up committed to a total of nearly 8,000 vehicles.

Y/E Jun
Revenue (US$m)
EBITDA (US$m)
PBT (US$m)
EPS (c)
P/E (x)
P/CF (x)
2019A 39.0 (4.0) (8.6) (63.80) N/A N/A
2020A 48.7 3.9 (1.0) (12.00) N/A N/A
2021E 41.6 4.9 0.1 0.41 1261.0 N/A
2022E 52.3 5.3 (0.9) (4.06) N/A 14.7
Industry outlook

The move to a low carbon environment is accelerating the drive towards electrification. In transportation this involves the full chain from generation (solar, wind etc), associated infrastructure (grid robustness and charging), electric vehicles and storage requirements (battery management). The speed of regulation is accelerating as are the commitments from companies including the mining sector.

Last updated on 20/10/2021
Content on VivoPower International
Webinar: VivoPower
Industrials | Edison TV | 1 July 2021
VivoPower’s five-year Toyota exclusive deal
Industrials | Edison TV | 24 June 2021
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Share price graph
Balance sheet
Forecast net cash (US$m) 5.2
Forecast gearing ratio (%) N/A
Price performance
%
1m
3m
12m
Actual 0.2 (22.0) (35.1)
Relative* (3.7) (25.7) (50.8)
52-week high/low US$17.9/US$5.2
*% relative to local index
Key management
Johann Kenny Head of risk management, Arowana
Kevin Chin Co-founder and executive chairman
Matt Cahir President, Vivo USA
Matt Davis Managing director, Vivo Australia