Amotiv Ltd (AOV.AX): Model Update

研报英文原文证据摘录

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11 Aug 2026 06:51:44 ET │ 13 pages

Amotiv Ltd (AOV.AX)

Model Update

CITI'S TAKE

Our FY27/28 forecasts remain broadly the same as the divestment of ECB

(~2% of EBITA) and continued headwinds in LPE ANZ sales are offset by

price increases in 4WD and PTU. FY27/FY28 underlying EBITA changes by

-1%/-1% respectively. Our new target price is unchanged at $6.70 as

earnings revisions are offset by higher peer and market multiples in our PE

rel and SOTP valuations. Maintain Neutral.

Our first impressions of the FY26 result here --> Amotiv Ltd (AOV.AX) - No major

surprises in result but CEO is departing.

Evolving thoughts after the conference call --> Amotiv Ltd (AOV.AX) - Conference

call feedback

Neutral

Price (11 Aug 26 16:00)

A$6.41

Target price

A$6.70

Expected share price return

4.5%

Expected dividend yield

6.9%

Expected total return

11.4%

Market Cap

A$858M

US$605M

Sam TeegerAC

AOV.AU revisions (Y/E Jun)

2025A

2026A

2027E

2028E

2029E

Sales (A$m)

% revision

EBIT (A$m)

% revision

Core Net Profit (A$m)

% revision

Core EPS (A¢)

% revision

EPS Growth (%)

PE Ratio (x)

Dividend Yield (%)

997.4

0.0%

169.5

0.0%

103.4

0.0%

73.5

0.0%

1.2

8.7

6.3

1,023.9

-0.7%

172.2

-0.3%

104.3

0.6%

76.9

1.0%

4.6

8.3

6.7

1,041.7

-0.4%

173.7

-1.5%

106.2

-1.8%

78.4

-1.8%

2.0

8.2

6.9

1,060.7

-1.0%

180.1

-1.4%

111.5

-1.8%

82.3

-1.8%

5.0

7.8

7.2

1,078.8

-1.3%

179.3

-1.8%

110.9

-2.2%

81.9

-2.2%

-0.5

7.8

7.2

Source: Company Reports and dataCentral, Citi Research.