Page 8 - Australasian Paint & Panel March-April 2022

NEWS
8
PAINT&PANEL MARCH / APRIL 2022
WWW.PAINTANDPANEL.COM.AU
10 CAPRICORN RISING STAR • 10 NEW ACM CENTRE • 12 INSURER RESULTS
AMA GROUP 1H22 RESULTS
A
MA HAS RECORDED A $52.435
million operating loss in its first half 2022 results. Its share price dropped to 32 cents fol-
lowing the publication of the re- sults and again no shareholder divi- dend was paid. An EBITDA profit of $4.228million was reported compared
with $65.158million in 1H21.
CEO Carl Bizon cited lower traffic vol-
umes, lockdowns and staff welfare costs among the reasons for the loss. Operat- ing profit was down 839 per cent com- pared with the same period last year (a loss of $52,435 million versus $7.098 million profit).
The director’s report stated that AMA had experienced its lowest total repair volumes in a six-month period since the onset of the pandemic in early calendar year 2020.
Bizon said that the group had undertak- en an extensive review of its network and closed four sites and ‘hibernated’ an un- disclosed number which led to impair- ment losses of $16.683 million. The report states that as of 31 December 2021 the Group had 173 sites.
Bizon outlined a number of initiatives to boost profits and retain staff going for- ward. The group has established a con- sumables business to leverage its over-
seas buying power which it plans to offer to the industry at large.
Parts are another key focus with the aim to increase and improve the supply of parallel imports and recycled mechan- ical and collision parts. The supply part of the business experienced a revenue of increase of $2.6 million approximately recorded a loss of $3.83 million.
The group has established a claims management services company to add value to customers and will be targeting private work also. There is a focus on promoting AMA Group as a great place to work and the company has developed
a code of conduct and is launching an employee share plan.
The presentation said that the truck re- pairs division 'maintained positive mo- mentum through Covid-19 period.' Reve- nue was up to $27.84 million against $25.41million in the same period last year although profit was down from $4.67 mil- lion in 1H21 to $3.54 million in 1H22.
In regards to acquisitions Bizon said these plans were put on hold during lock- down but that a number of acquisition tar- gets have been identified and are being pursued in both collision repair and asso- ciated industries.
AMA Group CEO Carl Bizon
SEMINARS AT EXPO
spected industry experts will offer prac- tical knowledge on the topics that matter most to the industry. The sessions are designed for workshop owners and man- agers through to automotive technicians looking to upskill their knowledge.
Seminar sessions include: How to use digital marketing to grow your business; A discussion on attachment methods; The 5 key drivers of a suc- cessful collision repair business; How to diversify; ADAS from a technician’s point of view; Gaining the maximum benefit from training; and How to build your business so it doesn’t rely on you working ‘in’ it.
Registration for the Collision Repair Expo and seminars is free of charge, al- though session numbers are limited. Register at: collisionrepair.com.au.
YOU CAN ENJOY A COMPREHENSIVE
seminar program at the Collision Repair Expo (CRE) on 7-9 April at the Melbourne Convention and Exhibition Centre.
The seminar series forms a core com- ponent of the show and delivers on the
Expo theme ‘The Future of Auto Repair Is Here’, in conjunction with the Work- shop of the Future pavilion.
The free seminar series, sponsored by I-CAR will be highly sought-after for at- tendees. A hand picked selection of re-
Spaces are limited so reserve your spot for the sessions you are interested in.