Amotiv (AOV) Trading Update summary

Trading performance and outlook

• Marginal revenue growth and a slight decline in underlying EBITA expected for FY25, mainly due to subdued Australian LPE reseller demand and weaker 4WD sales.

• US LPE demand remains strong, while Australian and New Zealand new vehicle sales are weak, impacting 4WD and related segments.

• RV, caravan, and truck market trends remain soft, but PU division demand is solid, supported by wear and repair markets.

• Actions on Q3 pricing and operating efficiencies are progressing as planned; corporate costs are set to decrease year-on-year.

• Cash conversion is projected at approximately 85%, with a strong balance sheet and leverage within targets; 3% of issued capital repurchased by March 2025.

US tariff update and risk management

• US tariffs announced are not expected to materially impact FY25, with US revenue exposure at about 8% of total.

• US sales mainly comprise Vision X products from South Korea and some 4WD products from Thailand.

• The group is evaluating tactical and strategic responses, including re-sourcing, re-pricing, and alternative supply locations.

Investor engagement and upcoming events

• Management will host an investor call on 4 April 2025 to discuss the update.

• A 4WD facility site visit in Thailand is scheduled for 8 April 2025.