Reconciliation of Adjusted (Underlying) EBITDA for Continuing Operations to IFRS Financial Measures Year ended June 30 (US dollars in thousands) 2024 2023 Net after-tax loss (25,114) (24,355)Loss from discontinued operations - 4,207 Net after-tax Loss from continuing operations (25,114) (20,148)Income tax 1,164 540 Net finance expense 5,797 6,210 Share based compensation expense - 148 Restructuring & other non-recurring costs1 10,913 2,084 Depreciation and amortisation 1,348 1,581 Non-recurring cost of sales 2 - 3,850 Adjusted (Underlying) EBITDA for continuing operations (5,891) (5,735) Note: (1)2024 amounts include $10.9 million of non-recurring, non-operational costs, consisting of a $10.8 million asset impairment charge mainly pertaining to Aevitas and Caret.2023 amounts include $2.1 million of non-recurring, non-operational costs, consisting of a $1.8 million one-time provision for UK tax refunds on prior year receivables that were either received or due to be received by the Company for recoverable UK taxes paid between 2020 and 2022 but which have since been disputed and are being reclaimed by the UK fiscal department and $0.2 million of restructuring activities. (2)2023 amounts include $3.9 million in non-recurring costs resulting from increased costs and delays on Aevitas Solar’s Edenvale project due to unprecedented high levels of rainfall (both in terms of frequency and amount versus historical averages) across Western Australia in FY2023.
Reconciliation of Adjusted (Underlying) Net After-Tax Loss for Continuing Operations and Adjusted (Underlying) EPS to IFRS Financial Measures Year ended June 30 (US dollars in thousands except per share amounts) 2024 2023 Net after-tax loss from continuing operations (25,114) (20,148)Restructuring & other non-recurring costs1 10,913 2,084 Non-recurring cost of sales 2 - 3,850 Adjusted (Underlying) net after-tax loss from continuing operations (14,200) (14,215) Loss from continuing operations – per share (8.01) (0.82)Restructuring & other non-recurring – per share 3.48 0.08 Non-recurring cost of sales 1 – per share 0.00 0.16 Adjusted (Underlying) continuing EPS (4.53) (0.58) Note: (1)2024 amounts include $10.9 million of non-recurring, non-operational costs, consisting of a $10.8 million asset impairment charge mainly pertaining to Aevitas and Caret.2023 amounts include $2.1 million of non-recurring, non-operational costs, consisting of a $1.8 million one-time provision for UK tax refunds on prior year receivables that were either received or due to be received by the Company for recoverable UK taxes paid between 2020 and 2022 but which have since been disputed and are being reclaimed by the UK fiscal department and $0.2 million of restructuring activities. (2)2023 amounts include $3.9 million in non-recurring costs resulting from increased costs and delays on Aevitas Solar’s Edenvale project due to unprecedented high levels of rainfall (both in terms of frequency and amount versus historical averages) across Western Australia in FY2023.
Annual consolidated revenue of $11.8 million down 22% year-on-year ("y-o-y”) reflecting a strategic focus towards the Electric Vehicle and Sustainable Energy Solutions business units and discontinuation and sale of Critical Power business units in Australia Underlying consolidated adjusted EBITDA1 from continuing operations declined slightly to a ($5.9) million loss from a ($5.7) million loss in FY23 Cash balance at June 30, 2024 was $0.8m in comparison to $0.6m at June 30, 2023 Tembo E-LV, a subsidiary of VivoPower executed a definitive Business Combination Agreement with CCTS for a combined enterprise value of US$904 million Kenshaw Electrical, one of the Company’s Critical Power business units, was sold for approximately A$5.0 million in July 2024, as part of previously announced strategic focus on Electric Vehicles and Sustainable Energy Solutions LONDON, Aug.30, 2024 (GLOBE NEWSWIRE) -- VivoPower International PLC (Nasdaq: VVPR) ("VivoPower” or the "Company”) today announced its preliminary estimated unaudited results for the fiscal year ended June 30, 2024.
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