VivoPower International PLC (VVPR) Q4 2022 Earnings Call

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WEBVTT 00:00:00.049 -- 00:00:05.633 Good day, and thank you for standing by. Welcome to the Vivo Power International 00:00:05.633 -- 00:00:11.178 PLC Fiscal Year 2022 Full Year Earnings Conference Call. 00:00:11.178 -- 00:00:14.580 At this time, all participants are in a listen-only mode. 00:00:14.580 -- 00:00:17.723 Please be advised that today's conference is being recorded. 00:00:17.723 -- 00:00:22.865 I would like to hand the conference over to your speaker today, Kevin. 00:00:24.788 -- 00:00:29.983 Thank you, Victor, and welcome, everyone, to the F.22 conference. 00:00:29.983 -- 00:00:33.746 earnings call for a beautiful deal. 00:00:33.746 -- 00:00:38.970 We'll jump straight into slide two, which is the executive summary. 00:00:38.970 -- 00:00:43.693 So in a nutshell, we've made significant strategic progress over the last 12 months, 00:00:43.693 -- 00:00:46.796 but we've had to contend with 00:00:46.796 -- 00:00:52.520 quite a few headwinds, including lingering COVID effects on our businesses in Australia, 00:00:52.520 -- 00:00:55.249 as well as foreign exchanges. 00:00:55.249 -- 00:01:00.911 So going through key points, firstly, revenue declines 00:01:02.552 -- 00:01:04.562 to 37.7%, 00:01:04.933 -- 00:01:09.896 primarily attributable to these COVID lockdowns, which we previously flagged as a half-year 00:01:09.896 -- 00:01:11.476 result, 00:01:11.476 -- 00:01:16.498 which unfortunately did extend through the majority of periods over the last six months 00:01:16.498 -- 00:01:21.861 as well. That caused delays to distribute works for our businesses 00:01:21.861 -- 00:01:23.531 yesterday. 00:01:23.531 -- 00:01:28.453 In addition, there's been a sharp drop in the exchange rate 00:01:30.756 -- 00:01:36.160 on a constant effective basis. Our revenue declined by 3% ...