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.
2Q22 Sales Performance
During 2Q22, Vmoto sold a total of 9,603 units from its B2B and B2C product range, with more than 90% of these units being sold into international markets. Total international units sold in 2Q22 of 8,633 units was up 15% on the prior corresponding period (“pcp”) of 2Q21 and up 45% on 2Q20, demonstrating the continued strong momentum in the business.
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.
Outlook
Vmoto continues to execute on its strategy of selling high performance and value for money electric
motorcycles/mopeds into international markets and expanding both its B2B businesses and B2C distribution network worldwide.
The Company’s businesses and operations continue to gain momentum with a significant number of existing distributors and new customers expressing interest in placing orders, deepening their relationships with the Company and to jointly work on projects in order to gain a stronger foothold in the growing electric two wheel vehicle businesses.
The Company also continues to focus on extending its product range to widen its reach and appeal to a broader spectrum of the market for electric vehicle users. This includes developing new products and collaborating with renowned brands and companies.
The global focus on mitigating the impacts of climate change and the transition towards electric vehicles, combined with Vmoto’s market leading position, provides a strong platform from which to accelerate growth opportunities.
The Company continues to broaden its commercialisation strategy and is confident it will be able to continue delivering strong sales and revenue growth for FY22 and beyond.
The Company’s vision is to create a feeling of excitement and joy for riders of Vmoto’s zero emission4 electric motorcycles and mopeds, to mitigate the risks of climate change and to preserve the environment for future generations.
