Highlights

  • Amotiv reported FY26 Revenue growth of 2.7% to AUD 1.02 billion, supported primarily by higher volumes.
  • Underlying EBITA reached AUD 195.1 million, in line with company guidance.
  • Statutory NPAT improved to AUD 75.1 million, while cash conversion reached 93.1% and Leverage declined to 1.85 times.
  • The group expects modest revenue and underlying EBITA growth in FY27, supported by offshore revenue, pricing and Amotiv Unified initiatives.

Amotiv Limited (ASX:AOV) operates a diversified portfolio of automotive brands across aftermarket replacement parts, 4WD accessories, lighting, power, electrical products and related automotive technologies. The group has more than 50 brands, over 1,900 employees and operations across more than 40 global locations.

Its portfolio is organised across three main operating areas: 4WD Accessories and Trailering, Lighting, Power and Electrical, and Powertrain and Undercar. This gives Amotiv exposure to different parts of the automotive value chain, ranging from maintenance-driven replacement Demand to discretionary 4WD accessories and specialised electrical products.

The group has increasingly positioned itself as an automotive pure-play business, with management seeking to improve returns through portfolio optimisation, international expansion, product development and the Amotiv Unified transformation program.

Amotiv’s FY26 full-year result, released on 11 August 2026, showed modest revenue growth despite difficult Australian and New Zealand conditions, while cash generation and balance-sheet management remained important features of the year.

FY26 Performance

For the year ended 30 June 2026, Amotiv reported revenue of AUD 1.02 billion, representing growth of 2.7%.

Management said growth was predominantly volume-driven, supported by filtration products within the Powertrain and Undercar division and 4WD customer wins resulting from Investment in product development and geographic diversification. Pricing also contributed to the result.

Underlying EBITA reached AUD 195.1 million, in line with guidance. Earnings benefited from offshore revenue within Lighting, Power and Electrical, growth in the Australian and New Zealand Powertrain and Undercar operations and benefits from the Amotiv Unified program.

These positives were partly offset by lower 4WD margins, with the timing of pricing actions affecting profitability during parts of the year.

Gross Margin was 42.8%, around one percentage point below the previous year. Importantly, management noted that pricing actions helped improve margins through the second half, providing a potentially better starting position entering FY27.

Statutory NPAT improved to AUD 75.1 million compared with a statutory loss of AUD 106.3 million in the previous corresponding period. The prior-year result had included the AUD 190 million impact associated with Impairment of the AutoPacific Group business.

Cash and Returns

Cash generation was a notable part of Amotiv’s FY26 performance.

Cash conversion reached 93.1%, helping the group reduce leverage to 1.85 times. The improvement provides greater flexibility to invest in products, Manufacturing capabilities and international expansion while maintaining Shareholder returns.

Return on Capital employed improved by 0.3 percentage points to 13.4%, reflecting a combination of earnings growth and improved balance-sheet management.

Capital management also remained a priority. The company completed its share buy-back and increased both interim and full-year dividends. Total cash returned to shareholders during FY26 was AUD 74.8 million.

For investors, this balance between reinvestment and capital returns remains important. Amotiv operates in markets requiring ongoing expenditure on product development, manufacturing, inventory and distribution, so maintaining adequate financial flexibility is central to its longer-term strategy.

Portfolio Strategy

The Powertrain and Undercar division benefits from categories such as filtration and replacement components where demand can be driven by vehicle maintenance rather than new vehicle purchases alone.

This provides recurring characteristics within parts of Amotiv’s revenue base. Older vehicle fleets can create sustained demand for wear-and-repair products, even when broader discretionary spending conditions are subdued.

The 4WD Accessories and Trailering Business has a different demand profile. Sales can be influenced by new pickup and SUV registrations, recreational spending and customer demand for vehicle customisation.

Amotiv has invested in product development and geographic Diversification to extend this division beyond traditional domestic markets.

Lighting, Power and Electrical provides another source of diversification. Offshore revenue growth was one of the contributors to FY26 underlying EBITA, reinforcing management’s strategy of increasing the group’s international earnings exposure.

The broader opportunity for Amotiv is to use its portfolio of established automotive brands to expand internationally while improving the efficiency of common functions behind those brands.

Amotiv Unified

Amotiv Unified is central to that efficiency strategy.

The program is designed to simplify and integrate activities across the group, creating benefits from shared capabilities and reducing duplication across historically separate businesses.

During FY26, Amotiv said benefits from the program were being realised in line with guidance and continued to support execution of its Amotiv 2030 strategy.

The initiative is particularly relevant because Amotiv operates a broad Brand portfolio. Greater integration across procurement, technology, distribution and support functions can potentially improve Operating Leverage without requiring the company to compromise individual brand identities.

For investors, the key measure will be whether Amotiv Unified continues producing sustainable benefits while the company simultaneously invests in product innovation and international growth.

Recent Developments

Amotiv also announced an important Leadership transition alongside its FY26 results.

On 11 August 2026, the company said Managing Director and Chief Executive Officer Graeme Whickman would step down in December after eight years in the role. Chair James Fazzino said Whickman had played a significant part in transforming Amotiv into a streamlined automotive business and establishing a platform for its next phase of growth.

A more recent company update on 22 August concerned Amotiv Subsidiary Vision X. The company confirmed that Vision X was involved in a commercial dispute with US customer HiViz Lighting, which had initiated legal proceedings in Australia. Amotiv stated that the dispute and associated litigation were not considered material to the group.

The development is therefore worth noting as the most recent company-specific update, although Amotiv itself has indicated that it does not expect the matter to be material.

FY27 Focus

For FY27, Amotiv expects modest growth in both revenue and underlying EBITA.

Management expects growing offshore revenue, pricing actions and further benefits from Amotiv Unified to help offset subdued conditions across Australia and New Zealand.

International growth will therefore remain important. Expanding offshore sales can provide additional revenue opportunities while reducing dependence on any single geographic market.

Margin development is another area to monitor. Pricing measures improved profitability through the second half of FY26, but input costs, currency movements, freight expenses and competitive conditions can still influence margins.

The CEO succession will also become an important strategic consideration as Amotiv prepares for its next leadership phase.

Final Takeaway

Amotiv’s FY26 result showed progress across revenue, cash generation and balance-sheet management despite challenging market conditions.

Revenue increased 2.7% to AUD 1.02 billion and underlying EBITA reached AUD 195.1 million, while statutory NPAT recovered to AUD 75.1 million. Cash conversion of 93.1% supported lower leverage and continued shareholder capital returns.

For Amotiv (ASX:AOV), FY27 will centre on offshore growth, margin management, further Amotiv Unified benefits and execution through the upcoming leadership transition.

The company’s diversified automotive portfolio provides exposure to maintenance, 4WD, electrical and international markets, while continued disciplined capital allocation will remain important as management pursues its Amotiv 2030 objectives.