Kamux Oyj · OMXHEX:KAMUX
Kamux Oyj — Q1 2021 Earnings Presentation
27 slides from Kamux Oyj's earnings presentation, May 12, 2021
Slide 1: Kamux — Quarterly Results Presentation January—March 2021
Kamux — Quarterly Results Presentation January—March 2021CEO Juha Kalliokoski CFO Marko Lehtonen 1 MAY 12, 2021 Q1 INTERIM REPORT
Slide 2: Table of Contents
Table of Contents Quarterly Results Presentation Q1 2021 Strategy, Financial Outlook and Q1 in Brief Summary Development Financial Targets 2 MAY 12, 2021 Q1 INTERIM REPORT
Slide 3: Kamux Vision
Kamux Vision #1 used car retailer in Europe 3 MAY 12, 2021 Q1 INTERIM REPORT
Slide 4: Kamux Q1 2021 in Brief
Kamux Q1 2021 in Brief 1. 3. 5. Adjusted operating profit Kamux's internationalization Revenue increased by increased by 44.0% to EUR 5.7 progressed and total revenue 25.4% to million (4.0) increased in Sweden by 47.8% EUR 209.9 million (167.4) to EUR 66.3 million and in Germany by 40.3% to EUR 21.3
Slide 5: In Finland and Sweden the market increased, in Germany it declined
In Finland and Sweden the market increased, in Germany it declined Market Kamux’s size market Market development Kamux’s position and Market (2020) share during Q1 development during Q1 Finland ~0.6 ~8.0% We estimate that Kamux maintained its million #1 the used car market market leader position. ca
Slide 6: Kamux Q1 2021 — Very Strong and Very Profitable Growth
Kamux Q1 2021 — Very Strong and Very Profitable Growth Revenue (EUR million) Adjusted Operating Profit (EUR million) +25,4% 220 13 200 12 180 11 10 160 9 140 8 120 +44,0% 7 100 6 80 5 4 60 3 40 2 20 1 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2018 2020 2018 2020 2019 2021 2019 2021 The revenue increased by 25.4%
Slide 7: Number of Cars Sold Increased Q1 2021
Number of Cars Sold Increased Q1 2021 Sold Cars (pcs) +14,2% 18 000 17 285 16 242 16 000 15 409 15 733 14 395 14 227 14 000 13 441 13 413 12 564 12 187 12 000 11 379 11 433 11 220 12 751 10 000 11 456 12 108 12 213 10 888 10 937 8 000 10 615 10 291 10 328 9 688 9 337 9 486 9 066 6 000 4 000 3 143 2
Slide 8: Integrated Services Revenue Increased Q1 2021
Integrated Services Revenue Increased Q1 2021 Integrated Services Revenue MEUR % 6,0% 12 5,7% 6 5,4% 5,3% 5,0% 5,0% 5,0% 5,1% 4,8% 9,4 10,2 10 4,7% 4,7% 5 9,4 4,6% 9,4 8,9 8,6 8,6 4,5% 7,8 7,9 4 8 7,1 6,8 6,1 6,4 6 3 4 2 2 1 0 0 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20
Slide 9: New Openings and Showrooms on May 12, 2021
New Openings and Showrooms on May 12, 2021 2021 FINLAND SWEDEN GERMANY TOTAL Q1 — — — — Q2 — Gothenburg — 1 Announced openings Oulu — — 1 2021 FINLAND SWEDEN GERMANY TOTAL Total showrooms May 12, 2021 50 21 8 79 9 MAY 12, 2021 Q1 INTERIM REPORT
Slide 10: Financial Development
Financial Development 10 MAY 12, 2021 Q1 INTERIM REPORT
Slide 11: Very Profitable Growth Creates Added Value to Shareholders
Very Profitable Growth Creates Added Value to Shareholders • Inventory levels were increased according to growth strategy • Return on equity (ROE) 26.5% was strong and it Financial position grew from the previous year creates strong • Equity ratio 45.4% improved slightly from the previous year found
Slide 12: Key Figures
Key Figures (MEUR) 1-3/2021 1-3/2020 Change, % 1-12/2020 Revenue 209.9 167.4 25.4% 724.1 Gross profit 23.2 18.3 26.9% 91.5 as percentage of revenue, % 11.0% 10.9% 12.6% Operating profit (EBIT) 5.7 4.0 44.0% 31.2 as percentage of revenue, % 2.7% 2.4% 4.3% Adjusted operating profit 5.7 4.0 44.0% 30.7
Slide 13: Kamux Finland — Very Strong and Very Profitable Growth Q1 21
Kamux Finland — Very Strong and Very Profitable Growth Q1 2021 Revenue (EUR million) +20,3% 150 125 100 • Revenue increased by 20.3% compared to 75 the previous year and was EUR 146.6 50 million (121.9). 25 • Gross margin increased to EUR 18.5 million 0 Q1 Q2 Q3 Q4 (14.5), or 12.6% (11.9) of revenue
Slide 14: Kamux Sweden — Very Strong Revenue Growth Q1 2021
Kamux Sweden — Very Strong Revenue Growth Q1 2021 Revenue (EUR million) +47,8% 70 • Revenue increased by 47.8% compared to 60 50 the previous year and was EUR 66.3 million 40 (44.8). 30 20 • Gross margin increased to EUR 3.8 million 10 (2.9), or 5.8 % (6.4) of revenue. 0 Q1 Q2 Q3 Q4 • Operating prof
Slide 15: Kamux Germany — Very Strong Revenue Growth, Despite the Lock-Down
Kamux Germany — Very Strong Revenue Growth, Despite the Lock-Down throughout the Quarter Revenue (EUR million) +40,3% 25 20 • Total revenue increased by 40.3% 15 compared to the previous year and 10 was EUR 21.3 million (15.2). 5 • Gross margin was EUR 0.9 million 0 (0.9), or 4.0% (5.8) of revenue.
Slide 16: We Invested in Purchasing and Raised Inventory Levels
We Invested in Purchasing and Raised Inventory Levels According to the Updated Growth Strategy Net Working Capital (EUR million) Inventories (EUR million) +57,2% 100 130 +57,6% 90 120 110 80 100 70 90 60 80 70 50 60 40 50 30 40 30 20 20 10 10 0 0 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20
Slide 17: The Growth in Purchases and Inventory Significantly Impacted on Cash Flow
The Growth in Purchases and Inventory Significantly Impacted on Cash Flow of Operations Cash Flow from Operations (EUR million) Change (EUR million) to Comparison Period 20 20 18 16 15 14 12 10 10 8 6 5 4 2 0 0 -2 1 0 -4 -5 -4 -6 -13 11 -8 -10 -10 -12 1 -15 -14 Cash flow Profit Adjustments Changes F
Slide 18: Investments in Knowledge Management Continued
Investments in Knowledge Management Continued Investments (EUR million) 2,0 • In line with our strategy, we have 1,5 systematically invested in growth. 1,0 • Kamux seeks to gain a significant 0,5 competitive advantage by investing in leading with knowledge as well as 0,0 Q1 18 Q2 18 Q3 18 Q4 18 Q1 1
Slide 19: Seizing the opportunities of digitalization inhouse
Seizing the opportunities of digitalization inhouse improves processes and benefits the customer Creating the best online Improving and streamlining customer journey core processes Detailed and Service online Eliminating More Improved accurate car available when it is manual accurate inventory infor
Slide 20: Strategy, Outlook and Financial Targets
Strategy, Outlook and Financial Targets 20 MAY 12, 2021 Q1 INTERIM REPORT
Slide 21: Strategy Implementation
Strategy Implementation Omnichannel customer Efficient processes and Utilizing data and leading Developing capabilities and experience and services scalability with knowledge continuous learning • Kamux Huoleton, monthly- • Göteborg mega store • Kamux Management • Focus in leadership and fee driving
Slide 22: Financial targets 2021–2023
Financial targets 2021–2023 • Revenue growth of over 20% annually Indicator Target Actual Q1 2021 (from Feb 26, • Annually increasing adjusted EBIT and 2021) adjusted EBIT margin over 3.5% Revenue growth Over 20% 25.4% annually • Return on equity (ROE) over 25% • Target to distribute dividends of at
Slide 23: Shareholder Value Created also through Dividends
Shareholder Value Created also through Dividends € 0,30 Average DPS growth 2017-2020 120% 45.4% 0,25 48 % 100% tili- 0,20 kauden 80% 44 % voitosta tili- 0,15 40 % kauden 60% tili- voitosta 0,10 kauden 44 % 40% voitosta tili- 41% 40% 44% 48% kauden of the of the of the of the 0,05 2017 20% net net ne
Slide 24: Summary
Summary
Slide 25: Summary Q1 2021
Summary Q1 2021 1. 3. 5. Adjusted operating profit Kamux's internationalization Revenue increased by increased by 44.0% to EUR 5.7 progressed and total revenue 25.4% to million (4.0) increased in Sweden by 47.8% EUR 209.9 million (167.4) to EUR 66.3 million and in Germany by 40.3% to EUR 21.3 millio
Slide 26: Thank you!
KAMUX 6-3 Thank you!
Slide 27: Vastuuvapauslauseke
Vastuuvapauslauseke It should be noted that Kamux and its Since these statements are based on business are exposed to various risks current plans, estimates and and uncertainties, and certain projections, they involve risks and statements herein which are not uncertainties that may cause actual hist