AMA Group Posts $62.6M EBITDA, Cuts Net Debt by $126M in FY25
AMA Group Limited reported a robust FY25 with a 38.4% rise in normalized EBITDA and significant net debt reduction, setting a confident tone for FY26. Operational improvements across key divisions underpin the company’s optimistic outlook.
- 38.4% increase in normalized pre-AASB 16 EBITDA to $62.6 million
- 8.6% revenue growth to $1.01 billion in FY25
- Net debt reduced by $126.2 million to $17.7 million after $125 million equity raise
- Operational gains in AMA Collision, Capital SMART, Wales, and specialist units
- FY26 EBITDA guidance maintained at $70-75 million
Strong Financial Momentum
AMA Group Limited (ASX – AMA) has delivered a standout financial performance for the 2025 fiscal year, reporting a 38.4% increase in normalized EBITDA (pre-AASB 16) to $62.6 million. This surge was accompanied by an 8.6% rise in revenue, which topped $1 billion for the first time, reaching $1,013.7 million. The company’s Chair, Brian Austin, highlighted these results as a testament to the Group’s disciplined focus on operational improvement and profitable growth.
Central to this momentum was a successful $125 million equity raise in August 2024, which enabled AMA Group to dramatically reduce its net debt by $126.2 million, leaving a manageable $17.7 million on the books as of June 30, 2025. This balance sheet transformation provides a solid foundation for future growth and strategic flexibility.
Operational Highlights Across Divisions
Group Managing Director Ray Smith-Roberts, appointed in April 2025, underscored the progress made across AMA’s core businesses. AMA Collision has embarked on a transitional change program, delivering improved operational and financial outcomes in the latter half of FY25, with further efficiencies expected in early FY26.
Capital SMART exceeded expectations through enhanced site efficiency and repair complexity, though it faces volume pressures in the first quarter of FY26 amid cost-of-living impacts. Wales, the heavy vehicle repair arm, also posted strong results but is navigating softer claim volumes and increased total loss activity, prompting the pursuit of new revenue streams.
Specialist businesses showed mixed but promising trends. AMA Prestige is refining its network and partnerships, TechRight expanded its ADAS calibration services with five new installations, and TrackRight grew capacity with new sites in Victoria and Western Australia. Meanwhile, ACM Parts continues to improve sales and operational performance, with the Board exploring strategic options for this unit.
Looking Ahead – FY26 Guidance and Strategic Focus
AMA Group maintains its FY26 guidance, targeting normalized EBITDA between $70 million and $75 million. The Group is focused on optimising its network, investing in capacity expansions, including new site openings such as Bundaberg in Queensland, and embedding operational gains from recent change programs.
Despite some headwinds like volume softness and cost pressures, the leadership team expresses optimism about the company’s trajectory. The Board’s alignment and the strengthened balance sheet position AMA well to capitalise on growth opportunities and deliver sustained shareholder value.
At the 2025 Annual General Meeting, shareholders approved key resolutions including capital consolidation and performance rights grants to the Managing Director, signaling confidence in the company’s strategic direction and leadership.
Bottom Line?
AMA Group’s FY25 turnaround and debt reduction set the stage for a pivotal FY26, but execution risks remain amid evolving market conditions.
Questions in the middle?
- How will AMA Group navigate volume declines in key segments like Capital SMART and Wales?
- What strategic options will the Board consider for ACM Parts amid ongoing performance improvements?
- Can the operational efficiencies from transitional programs sustain momentum into FY26 and beyond?
