Amotiv (ASX:AOV) Targets FY27 Growth as Offshore Expansion and Operational Efficiencies Gather Pace

Sonal Goyal

11 August 2026 11:28 AM AEST

Amotiv (ASX:AOV) Targets FY27 Growth as Offshore Expansion and Operational Efficiencies Gather Pace

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Key Highlights

Revenue increased 2.7% to $1,023.9 million, while underlying EBITA rose 1.6% to $195.1 million.
Operating Cash Flow increased 3.7% to $155.2 million, with cash conversion improving to 93.1%.
Total cash returned to shareholders reached $74.8 million, including dividends and the completed share buyback.
FY27 guidance calls for modest revenue and underlying EBITA growth, supported by offshore revenue, pricing and Amotiv Unified.

Amotiv Limited (ASX:AOV) reported results for the year ended 30 June 2026, with revenue increasing 2.7% to $1,023.9 million from $997.4 million in FY25. Underlying EBITA increased 1.6% to $195.1 million, compared with $192.0 million previously. Underlying NPATA rose 1.3% to $120.3 million, while statutory NPAT was $75.1 million compared with a statutory loss of $106.3 million in the prior corresponding period.

The company operates across 4WD Accessories and Trailering, Lighting, Power and Electrical, and Powertrain and Undercar. The FY26 result included revenue contributions from offshore markets, product development, geographical Diversification , pricing actions and the Amotiv Unified program.

4WD Accessories and Trailering

Revenue from 4WD Accessories and Trailering increased 3.8% to $368.5 million from $354.9 million. Underlying EBITA was $52.8 million, compared with $59.2 million in FY25, representing a 10.9% decrease.

The company reported that ANZ pick-up volumes excluding the BYD Shark decreased 3%, while Ranger and Hilux volumes declined 5% and 7%, respectively. Revenue growth included new original-equipment Business wins and a full-period contribution from South Africa.

Supply commenced for the BYD Shark 3.5T vehicle, while towbar supply relationships were in place with other Chinese OEMs entering the Australian market. Cruisemaster also continued to gain share in the Australian RV and caravan market.

The second-half underlying EBITA Margin was 14.9%, up 1.1 percentage points from the first half, following OEM pricing actions and the non-recurrence of a first-half Zone RV provision.

Lighting, Power and Electrical

Lighting, Power and Electrical revenue was $315.9 million, compared with $318.2 million in FY25. Underlying EBITA increased 11.1% to $75.2 million from $67.7 million.

U.S. and European operations recorded growth, including Vision X unit growth supported by new customer wins and improved supply lead times. Power Management revenue increased 3%, supported by premium RV products including Projecta’s 48V system.

Underlying EBITA margin expanded by 2.5 percentage points. The company reported that Amotiv Unified contributed to an operating model with operating costs 11% lower than the prior corresponding period. Vision X pricing and product mix also contributed to the result.

Powertrain and Undercar

Powertrain and Undercar revenue increased 4.7% to $339.5 million from $324.3 million. Underlying EBITA rose 2.1% to $78.8 million.

Growth was led by filtration and brakes, with additional contributions from adjacent categories. New Zealand revenue increased 22.9%, supported by expanded filtration distribution.

The company also reported continued growth in electric vehicle repair and remanufacturing activities. Infinitev is expected to reach break-even on a run-rate basis by the end of FY27.

Cash Flow and Shareholder Returns

Operating cash flow increased 3.7% to $155.2 million, while cash conversion improved to 93.1% from 90.6%. Net Debt decreased $6.8 million to $376.5 million.

Leverage improved to 1.85 times from 1.91 times, remaining within the company’s stated Capital Allocation Framework range of 1.5 to 2.25 times.

Amotiv returned $74.8 million to shareholders during FY26 through dividends and the share buyback. The full-year Dividend increased to 43.0 cents per share from 40.5 cents, while the Board declared a fully franked final dividend of 23.0 cents per share, payable on 15 September 2026.

FY27 Outlook

Amotiv expects modest revenue and underlying EBITA growth in FY27. The company expects increasing offshore contributions from the United States and Europe to offset subdued ANZ trading conditions.

Within 4WD, the company expects continued growth from Chinese OEM mix and new vehicle launches, while NVS volumes are expected to remain soft. In LPE, U.S. and European growth is expected to continue, with EBITA margins expected to moderate slightly from FY26 levels.

PTU wear-and-repair categories are expected to remain resilient, while Infinitev remains on track for break-even by the end of FY27. Pricing benefits are expected to be weighted toward the second half, reflecting timing across 4WD, PTU and LPE.

Conclusion

Amotiv’s FY26 results included revenue of $1,023.9 million, underlying EBITA of $195.1 million, underlying NPATA of $120.3 million and operating cash flow of $155.2 million. The company returned $74.8 million to shareholders, reduced net debt to $376.5 million and reported leverage of 1.85 times. For FY27, Amotiv expects modest revenue and underlying EBITA growth, with offshore markets, pricing initiatives, Amotiv Unified and product developments identified as contributors while ANZ trading conditions remain subdued.

FAQs

Q: What was Amotiv’s FY26 revenue?

A:Revenue increased 2.7% to $1,023.9 million from $997.4 million in FY25.

Q: What was Amotiv’s underlying EBITA in FY26?

A:Underlying EBITA was $195.1 million, up 1.6% from $192.0 million in FY25.

Q: How much operating cash flow did Amotiv generate?

A:Operating cash flow increased 3.7% to $155.2 million, with cash conversion of 93.1%.

Q: What was Amotiv’s FY26 dividend?

A:The full-year dividend was 43.0 cents per share, compared with 40.5 cents in FY25. A fully franked final dividend of 23.0 cents per share was declared for payment on 15 September 2026.

Q: What is Amotiv expecting for FY27?

A:Amotiv expects modest revenue and underlying EBITA growth, with offshore revenue growth, pricing and Amotiv Unified expected to offset subdued ANZ conditions.

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