Australia's Amotiv plunges to more than 2-year low on weak earnings outlook

Amotiv

04/04/2025 04:58

Updates with latest share moves, weekly milestones and Citi comments

** Amotiv AOV.AX plunges as much as 19.7%, marking biggest intraday pct loss since mid-June 2022

** Stock hits to A$7.06, lowest since October 24, 2022; top loser on ASX 200 index .AXJO

** AOV last down 17.5%; set to shed more than 4% for the week

** Automotive parts supplier expects marginal drop in FY25 underlying EBITA on muted reseller demand in lighting, power and electrical segment

** Doesn't expect any material impact to FY25 from U.S. tariffs; current revenue exposure to U.S. is ~8%

** Citi ("buy") says if impact from margin pressures and sector headwinds are greater than anticipated, AOV may have difficulty achieving PT of A$14.13

** Stock rated "buy" on avg; median PT is A$12.81, per data compiled by LSEG

 (Reporting by Sneha Kumar in Bengaluru)

 ((Sneha.kumar@thomsonreuters.com;))