Australia’s largest collision repair group has continued its recovery journey with increased revenues across most divisions but the strategy is yet to pay a dividend.
The AMA Group has reported increased revenues topping $1 billion and earnings before tax across its divisions of $62.6m, up $17.3m or 38.4 per cent on 2023/24.
This has been part of a multi-year consolidation and refinement of processes, including major changes in leadership since 2022 that appears to have turned the large ship around.
The full year financial report noted however they would again not pay a dividend to shareholders for FY25.
The Capital Smart division, specialising in drivable repairs, lead the way with its 61 sites delivering earnings before tax of $58.4m in the full financial year up $13.3m on last year.
”Capital SMART is ahead of expectations with better optimised operating performance and an extended repair scope, resulting in increased revenue from a higher severity and complexity of repairs (solving more complex problems),” a statement to the ASX read.
AMA Collision is also turning around with its sites down one to 59 workshops generating revenue of $360 million, or earnings before tax of $7.4m more than double last year.
But it did open a new site at Bundaberg and acquired Hondat Smash repairs on the Gold Coast to expand its footprint in Queensland.
The Wales Heavy Repairs division, which grew with new sites in Darwin and Perth., also increased earnings before tax to $10.5million up by 25 per cent since last year.
Repair numbers were down slightly across all three divisions with the group averaging 4,773 repairs per week over the year with an ongoing target of 5,000 per week.
The parts division ACM Parts which has been up for sale for some time sold nearly $100 million worth of parts but overall, its earnings before tax were slightly down on 2024/23
“Excluding a $4m increase in inventory provisions, ACM achieved an operating break even result in the second half, after a ($0.8m) loss in the first half. The group said.
“With the business now self-sustaining and continuing to improve its performance, we will be patient in seeking the right outcome.”
TechRight sites have now reached ten in number and Track Right has five sites for structural repairs.
Staffing at the AMA Group has increased by 181 people to 3,6211, including 491 apprentices, an increase of 450 since last year with 145 new international recruits onboarded, up +38 on last year including a program of skilled migrants from Ghana
The turnover of staff has also dropped to 29.1% from 30.7% last year, the report noted.