Amotiv shares rally after swinging to full-year loss
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More news: Amotiv shares climbed in morning trade after reporting its full-year earnings and providing FY26 guidance that met market estimates.
Shares were up 3.7% to $9.52 at 11:35am AEST, having dropped around 10% since the turn of the year.
UBS analyst Tim Piper said the result, which was partially pre-announced last month, included better-than-expected margins as a result of cost and efficiency efforts.
Amotiv's outlook commentary was cautious, he noted, pointing to a subdued level of revenue and earnings growth compared to the second half of FY25. However, RBC views the guidance as "conservative", Piper said.
Amotiv posts full-year loss after $190m impairment
The news: Vehicle parts and solutions company Amotiv has swung to a statutory net loss from continuing operations, as a $190 million impairment on its subsidiary AutoPacific Group (APG) weighed on its full-year result.
The numbers: Amotiv recorded a net loss after tax of $106.3 million for FY25, down from a net profit of $99.8 million in FY24.
Revenue rose 1% year on year to $997.4 million, while underlying earnings (EBITDA) grew 1.2% to $226.4 million.
Amotiv declared a full-year dividend of 40.5 cents per share, flat with last year's payout.
The market consensus estimate for net profit after tax from continuing operations, according to Visible Alpha, was $55.1 million. Revenue was expected to be $1 billion and the full-year dividend was expected to be 39 cents per share.
The context: The group said it expects revenue growth in FY26, with underlying EBITA of $195 million. It noted that it is "likely to remain a challenging environment" for the company, with cyclical headwinds anticipated to persist in Australia and New Zealand. Core wear and repair categories are expected to remain resilient, it said, while pricing actions are being taken to support gross margins.
Amotiv flagged the $190 million impairment on vehicle accessories business APG in July, after the company adopted a more cautious long-term growth outlook for its subsidiary. The impairment was driven by an anticipated drop-off in Australia's new vehicle sales, a moderation in its outlook for New Zealand, and a more conservative view of future cyclical growth in its caravan and RV segment.
The sources: ASX, UBS research
