Ama Group Limited (KC7) Q4 2026 Earnings Report

The call presents a positive overall picture: record revenue, higher normalized EBITDA, a return to net profit, restored dividend and clear segment-level improvements (AMA Collision, Specialist, ACM Parts). Management provided constructive FY'27 guidance and balance sheet metrics are healthy. Notable headwinds include softer-than-expected Q4 volumes driven by higher fuel prices and consumer deferral of minor repairs, Capital SMART EBITDA being lower versus the prior period, ongoing Wales soft patches, near-term cash flow pressure from higher tax payments and some one-off cash outflows, and continued network rationalisation in Collision. On balance the operational progress, profitability turnaround and guidance progression outweigh the challenges.

Management guided FY27 normalized pre‑AASB16 EBITDA of $75–80m (subject to ordinary trading conditions) and reiterated a three‑year ambition to reach ~10% pre‑AASB16 EBITDA margin group‑wide; Capital SMART is expected to deliver a 10–11% EBITDA margin in FY27 after FY26 revenue of $490.7m and EBITDA of $51.9m (10.6%), AMA Collision (FY26: revenue $379.7m, EBITDA $10.6m, +43.2%) and Wales are expected to improve, Specialist (FY26: revenue $65.6m, EBITDA $5.6m, margin 8.6%) and ACM Parts (FY26 EBITDA $2.3m, up $7m) to grow, group CapEx is guided to ~ $35m in FY27 (settling to c.$12.5–15m p.a. maintenance by FY29), corporate costs are expected at $12–13m, the Board initiated a fully franked $0.05 per share dividend (first since 2019) while maintaining net debt of $18.4m, operating cash flow after lease payments of $32.8m in FY26, and a FY26 turnaround to NPAT $7.7m (from a $6.2m loss) amid finance costs down $8.7m (other finance costs -$12.7m, lease finance +$4m) and income tax cash payments up $12.5m.