The AMA Group has continued its financial turnaround in the first part of 2025 with a 10 per cent increase in revenue and almost doubling its earnings over the same period from last year.
In the latest release to the ASX the AMA Group reported positive results for a range of its business units in the three-month period from January to March.
This includes revenue up to $249.6mil (from $226.2mil in Q32025) and earnings before tax etc of $21.1mil, up from $10.7 mil) last year.
This means the company was confident of delivering overall earnings for the 2024/25 financial year of $58-62 million.
The turnaround follows major changes to the leadership at the AMA Group and several tough years of lower earnings where it was unable to deliver dividends to investors.
But it now maintains it has completed its capital restructure including refinancing of debt for 3 years and redeeming $50 million in convertible notes.
The total number of repairs is also up to 61.1K from 58.8 k last year but this has also been boosted by the increased average price of each repair $3897 up from $3685, in Q# 2025.
Extended repair capacity
In the release it highlight Capital SMART had continued to perform where improved site efficiency and use, and a wider repair scope resulted in the higher average repair price.
The project for site transitions under the unit had been completed allowing additional vehicle repair capacity realised along with a renewal of the Motor Repair Services Agreement (MRSA) with Suncorp, reaffirming the partnership with Suncorp and the supply of work from Suncorp.
It said AMA Collision also continued to show improved signs of turnaround with a transitional change program driving significantly improved financial performance.
“We are continuing to focus on network optimisation which includes investment in vehicle repair capability, staff and customer experience with existing sites being the highest priority and where we continue to put significant energy.”
The Group had also completed the acquisition of Hondat Smash Repairs on the Gold Coast to enhances capacity and capability in the region.
Heavy Lifting
Wales sites in Adelaide and Newcastle outperformed business expectations, removing bottlenecks and increasing productivity, part of a wider positive result for Wales Heavy Vehicle Repairs.
New TechRight The TrackRight locations were also rolled oout under the Specialist Businesses unit including at Eagle Farm, Tullamarine and Wangara during the quarter.
But it did also report that Prestige sites have not fared so well with, with two of the five locations having underperformed has been impacted by volume allocations.
Overall the AMA Group employs 3,556 team members at the end of March including 460 apprentices a net increase of 87 team members since the end of 2024.