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AMA GROUP LIMITED — Earnings Release 2015
Aug 30, 2015
64372_rns_2015-08-30_4b0e36cc-e88e-4257-8843-301b96888d86.pdf
Earnings Release
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P: (07) 3897 5743 F: (07) 3283 1168 E: [email protected]
PO Box 122, Margate QLD, 4019 ABN 50 113 883 560
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COMPANY ANNOUNCEMENT
31st August 2015
AMA delivers very strong result
Financial highlights for the 2015 financial year:
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Revenue increased by 49.0% to $95.8m
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Reported EBITDA increased 54.7% to $14.4m
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Net profit after tax increased by 60.8% to $9.1m
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Normalised net operating cash flows increased by 50.9% to $9.1m
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Strong balance sheet with net cash of $2.2m
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Earnings per share increased 60.4% to 2.72 cents
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Dividend per share increased 6.25% to 1.7 cents
The Directors of AMA Group Limited (AMA) (ASX:AMA) are pleased to announce strong growth in revenue, earnings and operating cash flows for the financial year 2015, with good momentum going into FY16.
AMA Group Executive Chairman, Ray Malone, said these results flowed from both organic growth across the group as well as the contribution made during the year from recent acquisitions.
“EBITDA for the group, adjusted for one-off transactional costs associated with these acquisitions, was a very pleasing $14.9m”, he said.
Each of our businesses has performed well in their markets, with the vehicle panel repairs and vehicle protection products being the major contributors to our result.
A number of significant acquisitions took place in the vehicle panel repair segment during the year which has increased our workshops from 3 to 29 and delivered a 485%+ increase in annualised revenues to $85m. Acquisitions included RMA, BMB Prestige and Browns Motors in Victoria and Shipstone in Queensland. In addition AMA entered into a management agreement with Woods Accident Repair Centres in Victoria and we expect to exercise our option to acquire this business in the next two months.
“We are delighted with the performance of each of our acquisitions and their integration and contribution to the group is exceeding our expectations.
“The consolidation within the vehicle panel repair market in Australia is continuing strongly and we are currently at the DD stage with several compelling deals on the table . Our strong operating cash flows and balance sheet, including the proceeds of our recent capital raising, position us well to make valuable acquisitions.”
AMA’s vehicle protection products and accessories businesses have also experienced strong revenue and earnings growth for the year.
“This strong result against the backdrop of subdued market conditions is very pleasing and a credit to the team that has worked very hard. FY2016 has begun well and AMA’s strategy of identifying high quality businesses to acquire, in what are fragmented markets, and then successfully integrating those business into the AMA family, makes us confident of being able to continue to deliver strong earnings growth for our shareholders”, Mr Malone said.
For and on behalf of the Board,
Terri Bakos Company Secretary AMA Group Ltd
AMA Group Limited � ABN 50 113 883 560 � Registered Office: Suite 1, 1233 High Street, Armadale, VIC 3143 Phone: (07) 3897 5743 � Fax: (07) 3283 1168 � Web: www.amagroupltd.com