Ann: Vmoto secures A$13 million B2B order, page-159

VMT Market Cap Forecast

The current factory has capacity for 400,000 units per annum. At current 25,000 units per annum & 50% YOY growth it will take just under 7 years to reach 100% capacity.

The figures from H1 FY2020 indicate an average unit revenue of $2,495 @ 10.33% margin = $257.73 profit x 66.9% NPAT = $172.42 NPAT per unit.

At 400,000 factory capacity x $2,495 = $998M revenue @ 10.33% margin = $103,093,400 profit x 66.9% NPAT = $68,969,484 NPAT.

Approx. $70M NPAT x PE 40 as booming EV market = $2.8B MC in 7 years & about $10.10 SP.

A merger with Super Soco would double margin to 20.66% & double NPAT to approx. $140M x PE 40 = $5.6B MC in 7 years & about $20.20 SP.

A merger with Super Soco will make a x2 difference to the MC. The above may be achieved in 5 years with 75% YOY growth. If all goes to plan with EV industry tailwinds about x40 upside from today in 5-7 years. Each $25k invested has the potential to become $1M.