VivoPower International (VVPR) has released an update.
VivoPower International PLC reported a 22% decline in annual revenue to $11.8 million for FY24 due to strategic shifts towards Electric Vehicle and Sustainable Energy Solutions, including the sale of its Critical Power unit. Despite revenue decline, the company achieved a 170% increase in gross profit and executed a significant Business Combination Agreement with CCTS, valuing subsidiary Tembo E-LV at $904 million. The company also completed the sale of Kenshaw Electrical for A$5.0 million, reinforcing its focus on high-growth areas.
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