AMA Group crash repair volumes yet to recover
Crash repairer AMA Group says covid disruptions that have reduced traffic flows continue to affect its business although volumes have trended higher this month.
CEO Carl Bizon says repair volumes are still lower than a year ago, after the December half presented the most challenging conditions since the pandemic began as residents in NSW and Victoria limited movement.
“While it has been slower than we had hoped, repair volumes are expected to return as vehicle use normalises,” he told a results briefing.
Mr Bizon notes customer panel members have adjusted “historic revenue mechanisms” in light of the challenges, and the group continues to work with its insurance partners.
“We are pleased to note there has been broad recognition that historic pricing models are no longer appropriate in a covid inflationary environment and there is now more of a focus on pricing constructs which provide compensation for the value created by the services we provide,” he said.
AMA also says during the half it has piloted a claims management service to further add value to insurance customers.
The group swung to a first-half net loss of $46.3 million from a year-earlier profit of $5.8 million. Revenue from continuing operations fell 3.9% to $418.1 million.
AMA also announced that Caroline Waldron would join the board from tomorrow as a non-executive director.