AMA Group has published its half year result reporting a net loss after tax of $3.9 million (prior period a loss of $9.2 million), in a market where claims are reported to be down by 20 percent.
Its report states: 'The Group’s financial performance for the half-year ended 31 December 2024 reflects the continuation of the positive turnaround momentum from FY24. Capital SMART performed ahead of expectations, with an extended repair scope resulting in a higher average repair price.
"Wales continued to grow and outperform expectations with bottleneck removal projects improving results. The turnaround program in AMA Collision is ongoing, with new contracts from multiple providers and extended programs with a number of insurers, however progress has been slower than expected as lower industry claim volumes impacted performance."
Recruitment is a constant struggle for such a large entity. The team increased by 40 to 3,469, including 419 apprentices, and AMA Group has reduced voluntary turnover from 31% to 28%. AMA Collision, which has 59 sites, saw its revenue down by $5million but there has been a great deal of work has been undertaken to secure new work providers and to upgrade facilities. The eight Wales sites enjoyed a $1.6m revenue boost. ACM Parts, which is up for sale, improved its performance. “The sale process continues. Whilst discussions with interested parties are ongoing, the company is also assessing alternative strategies to maximise shareholder value which may include a possible demerger / IPO." TrackRight and TechRight (ADAS & mechanical section) have been considered a success and will be developed further.
The summary of priorities states:
- Continue to repair AMA Collision performance
- Continue to grow workforce – local, international and apprentices
- Grow network – greenfield, capacity expansion and acquisition - 6 sites planned 2H25
- Improve our customer service, helping to solve customer’s market challenges
- Complete ACM separation
- Continue to repair AMA Collision performance
- Continue to grow workforce – local, international and apprentices‐
- Grow network –greenfield, capacity expansion and acquisition - 6 sites planned 2H25‐
- Improve our customer service, helping to solve customer’s market challenges‐
- Complete ACM separation
You can find the full report here.