AAM Group has emphasised its commitment to its subscription and mobility businesses, as it publishes strong financial results for the last year.

AAM has announced projected EBITDA of approximately £5m for the financial year to the end of June.

The group, which comprises the Mycardirect subscription business, Onwrd mobility solutions specialist and Best Car Finder business, has announced projected income figures expected to exceed £19m, pre-tax profits estimated at around £2m, and an EBITDA of approximately £5m for the financial year to the end of June.

The company said the results showed its ongoing success despite the vehicle supply issues over the last year and the recovery from the pandemic.

AAM also reiterated its commitment to the subscription and mobility sectors in a marketplace where some firms, such as Cazoo, have exited and others are struggling to thrive.

Duncan Chumley, CEO of Mycardirect, said the company’s success was “testament to the fact that a well-run operation can be both efficient and profitable”.

He attributed their achievements to “an exceptional team of individuals who understand the importance of generating revenue”. He also emphasised the group’s growth and profitability were the result of a controlled and systematic approach, built on a solid infrastructure.

Duncan Chumley, CEO of Mycardirect, said the company’s success was “testament to the fact that a well-run operation can be both efficient and profitable”

Chumley, along with AAM Group chairman David Murray-Hundley, also spoke to Fleet World earlier this year about the rise in subscription demand from the B2B sector, including big fleet names and climbing interest in EVs. Target areas include expanding the fleet to cover 1,000 subscription vehicles with fleets – and supporting growing LCV interest.

Future plans will expand on this further, in particular as subscription rivals move out of the marketplace, developing a strong foundation for future growth and continued profitability.

Chumley continued: “The group has developed a five-year plan that we believe is highly achievable and will result in doubling our EBITDA figure to approximately £10m. Furthermore, our strategic positioning enables us to capitalise on additional business opportunities as some of our competitors exit the sector.”

Meanwhile, mobility solutions specialist Onwrd will also continue its work to keep fleets mobile through a comprehensive package of solutions. The business launched in 2022 and expanded earlier this year with a new ‘Journey’ subscription service that provides a convenient way to arrange on-demand and pre-booked taxi and chauffeur services across the UK.

AAM has also announced a major restructuring of its Best Car Finder business division in the last month, including appointing Duncan Chumley as CEO alongside Mycardirect and closer collaboration with the latter, further strengthening the group’s service offerings and enabling customers to access a wider range of flexible vehicle solutions.