Search

Vmoto gears up for production

Perth-based Vmoto Ltd is targeting late October for in-house scooter production to start at its manufacturing plant in China, as stage one of the factory is completed on time and budget.

The company, Australia's only scooter manufacturer, said the handover of the completed stage 1 of the 10,200 square metre assembly plant took place at the end of August.

The combined cost of land acquisition and stage 1 of the factory, of $US1.9 million ($A2.3 million), have largely been met from Vmoto's cash flow.

Full commissioning of the new factory will enable production to more than triple from current capacity and is expected to provide significant cost reductions by consolidating production at one location, according to the company.

Vmoto managing director Partick Davin said he expected the company's scooters to be delivered to European markets by year's end.

"Vmoto has the genuine ability to provide world-class products to its global client base, which provides a greater opportunity for successfully delivering the vision of total vertical integration of the group," he said.

"To see how quickly this project has developed from a few architectural drawings to a fully fledged manufacturing plant is just incomprehensible in Australia or Europe.

"The project actually broke ground in December 2007 and handover took place in August, as planned."

Mr Davin said the scooters would be delivered at a fraction of the original price in mass production scale.

Meanwhile, the company has reported a 38 per cent increase in revenue of $35.3 million for the 2008 financial year and a net loss of $8.6 million.

The loss reflected the company's decision to write down the goodwill associated with its recent acquisitions, totalling $6.1 million.

Login

(existing subscribers)

The password field is case sensitive.
Request new password

Add your comment

Vmoto (VMT)

Share Price

Closing price for the last 90 trading days
Source: Morningstar

Total Shareholder Return as at 29/06/18

1 year TSR5 year TSR
489thVmoto-3%-14%
722 WA (and selected non WA) listed companies ranked by 1 year TSR relative to other companies with similar revenue
Source: Morningstar

Share Transactions

29/06/18
$43k Bought
25/06/18
$32k Bought
18/06/18
$0 Other
Total value as at the date of the transaction
Source: Morningstar

Revenue

th-Vmoto$15.9m
239 listed industrial companies ranked by revenue.
Source: Morningstar

Remuneration from Vmoto

466thCharles Chen$269k
741stIvan Teo$152k
1270thKaijian Chen$40k
Ranked by total remuneration from all listed WA companies

BNiQ Disclaimer