Amotiv (AOV) H1 2026 earnings summary

Executive summary

• Revenue grew 3.3% year-over-year to $520.5 million, driven by new business wins, product development, and geographic diversification despite sector headwinds.

• Underlying EBITA increased 1.3% to $98.3 million, with margin pressure in 4WD partially offset by cost efficiencies, pricing actions, and Amotiv Unified benefits.

• Statutory NPAT rose 39.4% to $46.0 million, reflecting lower significant items and improved operational performance.

• Strong cash conversion and disciplined capital management enabled reinvestment, capital returns, and dividend growth.

• FY26 guidance remains unchanged, with expected group revenue growth and underlying EBITA of approximately $195 million.

Financial highlights

• Revenue increased 3.3% year-over-year to $520.5 million, with underlying EBITDA up 1.0% to $116.1 million and underlying NPATA up 1.3% to $59.7 million.

• Statutory net profit after tax was $46.0 million, up 39.4% year-over-year; basic EPS increased 45.0% to 34.0 cents.

• Interim dividend of 20.0 cents per share, up 8.1%, with a 52% payout ratio; $48 million returned to shareholders via dividends and buyback.

• Cash conversion improved to 91.9%, ahead of guidance and up 15.4pps year-over-year.

• Leverage ratio at 1.95x net debt/adjusted EBITDA, within target range.

Outlook and guidance

• FY26 guidance unchanged: group revenue growth and underlying EBITA of approximately $195 million expected.

• H2 margins in 4WD expected to improve from pricing actions; LPE H2 EBITA to be marginally softer than H1.

• Powertrain & Undercar segment expected to remain resilient, with incremental Amotiv Unified benefits of ~$1 million in FY26.

• Cash conversion and balance sheet strength to be maintained, with deleveraging expected in H2.

• EV business loss for FY26 expected between $1–2 million, with break-even targeted on a run-rate basis by FY27 exit.