The Eureka podcast with Alan Kohler featured AMA CEO Andy Hopkins last week talking about where the company is and expressing confidence in the future. Hopkins made a point of saying that he believes there will be more traffic on the roads as people avoid public transport - he predicts a 10% increase. Hopkins did make some significant errors during the podcast on some of the financial aspects of the business which the company then corrected with an ASX announcement.
In the podcast Hopkins tells the story of his career, touches on some financials, discusses how weather affects the business and why he hasn't changed the business name to Gemini.
You can listen to the podcast by clicking HERE.
AMA ASX statement
AMA Group Limited is aware of third-party reporting of various matters concerning the financial position of the Company. AMA wishes to clarify several aspects for the benefit of the market.
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The net debt position (excluding any deferred contingent vendor consideration) of the Company as at 30 June 2020 is approximately $230m;
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Some members of the Group have qualified for the Federal Government’s JobKeeper Assistance Program and the monthly payments being received by the Group amount to approximately $10m per month;
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Whilst we anticipate exceeding market consensus of FY20 EBITDA, we are not presently in a position to provide guidance as to the extent by which consensus will be exceeded as our financial statements are in the process of being finalised and remain subject to external audit. We expect to release our FY20 results to market on or about 26 August 2020.