Amotiv (ASX:AOV) forecasts revenue growth in FY25 amid leadership transition and cost management plans

Mon 30 Sep 24, 04:42 AM | Team Kalkine

Image source: shutterstock

Highlights

Amotiv diversified into new markets, products, and customer segments in FY24, leading to a 7.7% revenue growth, reaching AUD 987.20 million

Investments in greenfield projects and product development increased underlying EBITDA to AUD 194.6 million

Martin Farser transitioned from CFO to Chief Commercial Officer (CCO)

For FY25, revenue and EBITDA growth is expected, driven by the repair market and stable vehicle sales, alongside cost reductions in 4WDAT manufacturing

Amotiv Limited (ASX:AOV) is an ASX-listed company, which owns a portfolio of businesses providing automotive services and products, which address the changing needs of its customers globally. In the financial year 2024 (FY24), the company strategically diversified into new markets, products, customer segments and categories, resulting in organic growth which boosted the revenue by almost 7.7% to AUD 987.20 million.

During the reported period, the company significantly reduced net debt by divesting Davey and by managing capital expenditures and working capital effectively. Additionally, acquisition of Rindab and CES contributed to reduction of net debt.

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