Highlights:
- 9,603 units in total sold in 2Q22 (up 22% on 2Q21; up 50% on 2Q20)
- 8,633 international unit sales in 2Q22 (up 15% on 2Q21; up 45% on 2Q20)
- Solid 1H22 performance as Vmoto continued to deliver exceptionally strong unit sales of 17,601 units in total (up 28% on 1H21)
- Continued positive operational cash flows for 2Q22, bringing 1H22 total to A$6.5 million
- Strong net cash position of A$25.1 million, with no bank debt as at 30 June 2022
- Firm international orders of 8,654 units as at 30 June 2022, providing a solid sales runway for 3Q22;
- New international distributors appointed, with ongoing discussions and samples shared with a number of potential new B2C and B2B customers
- Strategic advisory and investment agreement executed with Giovanni Castiglioni along with a partnership and investment agreement with Graziano Milone, both well-known and experienced European entrepreneurs, investors and executives in the global motorcycle industry
- Vmoto signed new sponsorship agreement with Ducati Corse racing, a division of Ducati Motor Holding S.p.A. (Ducati), as the official supplier of electric scooters for Team Ducati Corse in the MotoGP World Championship (MotoGP) and the Superbike World Championship (SBK) during the 2022-2023 seasons
Global electric vehicle company Vmoto Limited (ASX: VMT) (“Vmoto”, or the “Company”) is pleased to provide the following update on its activities for the quarter ended 30 June 2022 (“2Q22”), during which the Company again delivered strong operational and commercial performance, driven by increasing demand for the Company’s products.
The Company is continuing to deliver solid sales and revenue growth from international sales, despite ongoing global events including the COVID-19 pandemic and the Ukraine-Russia war. The Company’s manufacturing facility In Nanjing, China, remains fully operational and not impacted by COVID-19 lockdowns. While the Company continues to experience some minor supply chain delay issues, it does not expect this to materially impact on its manufacturing operations or ability to meet customer orders.
