Published on: March 30, 2020

COVID-19 update

Amino has released an update on the impact of COVID-19 on the business. Overall, the devices supply chain is returning to normal but the pandemic is now impacting customer spending and the FY 20E outlook clearly remains uncertain. Pending market stabilisation, dividend payments have therefore been suspended – including the proposed FY 19A final dividend which retains an additional $5m within the business. The group has financial headroom of $13.7m as of today. The strategic move towards software, alongside a broader product set and more diversified customer base following the 24i acquisition in our view gives Amino a strong platform, and financial position, to face the challenges arising from COVID-19.