AMA Group sees green shoots in transition year
Crash repairer AMA Group says green shoots are emerging amid a bumpy fiscal first half, as new pricing agreements take effect in a transition year for the company.
AMA CEO Carl Bizon told the annual general meeting last week that agreed new pricing was introduced across the network in the first quarter, after insurer partners were approached late in the previous financial year.
“These pricing negotiations were generally constructive and positive, and resulted in an ongoing commitment between AMA Group and our insurer partners to regularly engage in price discussions through these times of heightened cost inflation,” Mr Bizon said.
The company last month also announced an agreement with its largest customer Suncorp for pricing for services provided by Capital Smart for the period from October 1 to June 30 next year.
Key operational priorities for this year include progressing a parts and procurement strategy, revenue growth and diversification and pursuit of opportunities in Advanced Driver Assistance Systems.
AMA affirmed guidance for earnings before interest, tax, depreciation and amortisation of $70-90 million this fiscal year and $120-140 million next year.