Amotiv (AOV) Q1 2027 TU earnings summary

Executive summary

• Q1 FY27 like-for-like revenue fell 5% YoY, primarily due to weakness in 4WD Accessories & Trailering and Thailand flood-related OEM production disruption; FY27 outlook was revised down.

• Gross margins improved YoY, while operating costs were pressured by one-offs and inflation; cost control remains a focus through Amotiv Unified initiatives.

Financial highlights

• Like-for-like revenue was 5% below the prior corresponding period; Lighting, Power and Electrical revenue was broadly flat, while Powertrain and Undercarriage grew marginally.

• Gross margins improved on prior year; operating costs included one-off legal, sector-risk, warehousing and logistics costs, plus inflationary increases.

Outlook and guidance

• FY27 revenue and underlying EBITA excluding VAFI consolidation are expected to be up to 5% below FY26 continuing operations; including VAFI, both are expected to be broadly in line.

• Management expects challenging conditions to persist through FY27; Thailand flood impacts are expected to normalise in H2, with VAFI consolidation weighted to H2.

• Pricing benefits and a further $10m in net annualised Amotiv Unified benefits are targeted for FY27, largely weighted to H2.