Key Highlights

  • The 27 October AGM disclosed a revised FY27 revenue and underlying EBITA outlook.
  • FY26 underlying EBITA increased 1.6% to approximately AUD 195mn.
  • Management reported a planned buyback of up to 5% of issued capital.

On 27 October 2026, Amotiv Limited (ASX:AOV) was trading at AUD 5.07, down 10.11% at the time of the intraday quotation. The quoted movement describes that trading session and is not attributed to an announcement issued on an earlier date. The company develops and supplies automotive parts and accessories.

Updated Outlook Following the AGM

At its 27 October 2026 annual general meeting, Amotiv updated its outlook for FY27 after reporting a more difficult first quarter. It said revenue and underlying EBITA, excluding consolidation of VAFI, were expected to be up to 5% below FY26 continuing operations. The relevant comparison excludes the ECB and Fully Equipped businesses, which were divested in FY27. Including the consolidation of VAFI, FY27 revenue and underlying EBITA were expected to be broadly in line with FY26 continuing operations.

First-Quarter Operating Conditions

Like-for-like revenue in 1QFY27, excluding the ECB divestment from both comparative periods, was 5% below the corresponding period. The company cited slower new-vehicle and pick-up sales and flooding in Thailand affecting original equipment manufacturing output. Lighting, Power & Electrical revenue was broadly unchanged, while Powertrain & Undercar revenue grew marginally. Management reported gross-margin improvement alongside one-off expenses and inflation-related operating costs.

FY26 Results and Capital Management

Amotiv reported FY26 revenue of slightly more than AUD 1bn, up 2.7%, and underlying EBITA of approximately AUD 195mn, up 1.6%. Underlying earnings per share before amortisation increased 4.5% to 89.4 cents. Cash conversion reached 93.1%, leverage was 1.85 times, and return on capital employed improved 30 basis points to 13.4%. The board announced an additional on-market share buyback of up to 5% of issued capital, which is a capital-management action rather than an operating forecast.

Efficiency Programme and Manufacturing

The Amotiv Unified transformation programme had produced approximately AUD 15mn of net annualised underlying EBITA benefits by the end of FY26. At the AGM, management targeted a further AUD 10mn in net annualised benefits during FY27, principally weighted toward the second half. Initiatives cover manufacturing, supply-chain operations, back-office processes and productivity. The company said pricing measures had also been taken across divisions, with much of the intended effect expected later in the year.

International Product and Supply Developments

Management disclosed a strategic collaboration with Holley Performance Brands covering automotive filtration products and potentially other performance categories. It also reported new 4WD towbar supply contracts in Europe and the United States. The aggregate contract wins were described as potentially increasing Thailand production by around 60,000 to 70,000 units, or approximately 18%, from FY28. Amotiv also raised its interest in VAFI from 40% to 50.1%, while divesting its loss-making Fully Equipped business.

Business Overview

Amotiv supplies automotive aftermarket components and accessories across three main operating areas: Powertrain & Undercar; Lighting, Power & Electrical; and 4WD Accessories & Trailering. Products are sold through domestic and international distribution channels, aftermarket customers and vehicle manufacturer relationships. Its operations include manufacturing, engineering, sourced products and brand development.

Risks and Catalysts on Watch

The AGM identified vehicle production disruption, subdued demand for larger vehicles, input-cost inflation and pressure on consumer spending. The revised guidance also depends on how the VAFI consolidation is presented. Other operational matters include the timing of supplier contracts, overseas distribution arrangements, the delivery of targeted transformation savings and the announced chief executive succession process.

Reported Position

The new outlook replaced management’s previous expectation of modest FY27 growth. The report linked that change to first-quarter activity and deteriorating conditions, while separately detailing cost measures, offshore contracts and capital allocation plans.