Vmoto Limited (ASX:VMT) Releases 4Q24 Market Update
Sales Performance
Vmoto sold 3,801 units in 4Q24, totaling 17,038 units for FY24, a 33% decrease year-on-year. International sales were 3,249 units, down 12% from 4Q23, impacted by a volatile macro-economic environment.
Financial Position
The Company reported a cash position of A$41.5 million as of 31 December 2024, with a bank operating facility drawdown of A$5.5 million. Vmoto remained operationally cash flow positive in 4Q24, driven by increased customer deposits and effective cost control.
Joint Ventures and Investments
Vmoto established GoRide Co, Ltd in Thailand with Skipper Run Co, Ltd, focusing on electric motorcycles and e-mobility solutions. Additionally, Vmoto invested A$1.15 million in Evotion Labs Pte Ltd in Singapore and partnered with OMO Mobility S.A. de C.V. to form OMO Watts S.A. de C.V. in Mexico.
Awards and Exhibitions
Vmoto’s APD model won the Good Design Award 2024. The Company also launched its Electric Mobility Solution at EICMA 2024 in Milan, Italy, showcasing integrated EV products and infrastructure.
Corporate Developments
Vmoto announced its intention to delist from the ASX, citing low trading volume and high compliance costs. Additionally, an off-market share buy-back offer was initiated for up to 10% of the company’s shares.
Future Outlook
The Company remains optimistic about the B2B electric motorcycle market and is actively pursuing opportunities in new regions. Vmoto continues to enhance its technology and expand its e-mobility solutions to maintain competitive advantages.
Motley Fool contributor Abbie Stokes has no position in any of the stocks mentioned. The Motley Fool Australia's parent company Motley Fool Holdings Inc. has no position in any of the stocks mentioned. The Motley Fool Australia has no position in any of the stocks mentioned. The Motley Fool has a disclosure policy. This article contains general investment advice only (under AFSL 400691). Authorised by Scott Phillips.
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