AMA Group Limited: FY23 Results

AMA Group Limited (ASX: AMA) has announced its FY23 results, showcasing a year of significant earnings improvement with a substantial AU$43.0 million year-on-year increase in normalised post-AASB 16 EBITDA, reaching AU$64.6 million. The company closed FY23 with $28.9 million in cash on hand, driven by positive operating cash flow in the second half of the year. Operational achievements have positioned the group for future growth, and a strong 4Q23 contributed to a robust finish to the fiscal year.

To support its financial position and strategic goals, AMA Group is launching a capital raising initiative to secure approximately AU$55.0 million. This includes a fully underwritten Institutional Placement of AU$17.6 million and a fully underwritten 1-for-2.15 pro-rata non-renounceable Entitlement Offer of approximately AU$37.4 million. The capital infusion will fortify the balance sheet, provide liquidity for strategic pursuits, and support refinancing of residual debt facilities throughout FY24.

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