FY21 Profit Guidance

Global electric vehicle company, Vmoto Limited (ASX: VMT) (the Company or Vmoto) is pleased to advise that the Company has continued to ramp up its international growth strategy and expects to achieve net profit after tax (NPAT) of between $7.5 million and $7.8 million for FY21 (the final results being subject to completion and independent audit), which is a signifcant increase on FY20 NPAT of $3.7 million and will be the largest net profit ever achieved in Vmoto’s history.

During FY21, Vmoto achieved a number of key operational and commercial milestones, which included:

• Record expected NPAT for year ended 31 December 2021, the highest since Vmoto's establishment
• In excess of 30,000 units sold in FY21, a significant increase on the 23,547 units sold in FY20
• Positive operational cash flows for FY21
• Strong cash position with no bank debt as at 31 December 2021
• Additional international B2C distributors secured, bringing the total to 58 across 62 countries
• Strong growth across B2B operations, leveraging the increased popularity of last mile delivery and ride-sharing services
• Launch of the new Vmoto premium brand and associated products

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It's a strong result which the market has responded to appreciatively. It's about in-line with where I had them, but although I have a valuation of closer to 60 cents I haven't pulled the trigger here as my concern is it's forward order book. Rick has a nice graph of how this has been trending and I'd want to see that turning around before I thought more seriously about investing. Still, it's a excellent result for a company of this size in this industry.

[Not held]