VivoPower International PLC (VVPR) Q2 2023 Earnings Call

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WEBVTT 00:00:00.029 -- 00:00:05.411 Good day and thank you for standing by. Welcome to the VIVO Power International PLC Fiscal 00:00:05.411 -- 00:00:07.211 Year 2023 00:00:07.211 -- 00:00:11.592 Half-Year Earnings Conference Call. At this time, all participants are in a listen-only 00:00:11.592 -- 00:00:15.573 mode. Please be advised that today's conference is being recorded. 00:00:15.573 -- 00:00:21.535 I would now like to hand the conference over to your speaker today, Kevin Chin. 00:00:22.795 -- 00:00:28.737 Good morning, ladies and gentlemen. Welcome to the VIVO Power Half-Year Results presentation 00:00:28.763 -- 00:00:32.394 The period ended 31st of December, 2022. 00:00:33.727 -- 00:00:39.272 I'll take you firstly to page three of our presentation, 00:00:39.272 -- 00:00:44.857 the executive summary. So at a headline level, we made very good strategic progress 00:00:44.857 -- 00:00:50.082 during the half year. However, our results were affected by unseasonal 00:00:50.082 -- 00:00:53.425 weather and foreign exchange. 00:00:53.425 -- 00:00:56.867 Our revenue declined due to project timing. 00:00:56.867 -- 00:01:01.891 and a decline in the Australian dollar versus the US dollar foreign exchange rates. 00:01:01.891 -- 00:01:07.696 So our half year revenue decreased 23% year on year to 8.7 million. 00:01:07.696 -- 00:01:13.101 This is primarily attributable to timing of project execution with one major solar project, 00:01:13.101 -- 00:01:16.123 Edenvale, undertaken in Australia 00:01:16.123 -- 00:01:19.166 versus two in the prior period. 00:01:19.166 -- 00:01:25.370 Skills shortages have had an impact on our ability to take on new projects. 00:01:25.849 -- 00:01:31.512 However, on a constant Australian dollar, US dollar exchange rate basis, 00:01:31.512 -- 00:01:33...