Kamux Oyj · OMXHEX:KAMUX
Kamux Oyj — Q1 2022 Earnings Presentation
30 slides from Kamux Oyj's earnings presentation, May 13, 2022
Slide 1: Kamux Quarterly Results Presentation January–March 2022
Kamux Quarterly Results Presentation January–March 2022 CEO Juha Kalliokoski CFO Marko Lehtonen 1 MAY 13, 2022 Q1 2022 INTERIM REPORT
Slide 2: Table of Contents
Table of Contents Quarterly Results presentation Q1 2022 Strategy, outlook Q1 in brief Financial and financial Summary development targets 2 MAY 13, 2022 Q1 2022 INTERIM REPORT
Slide 3: Kamux Vision
Kamux Vision #1 used car retailer in Europe 3 MAY 13, 2022 Q1 2022 INTERIM REPORT
Slide 4: Among dealers focusing purely on used cars, Kamux holds the 3rd place
Among dealers focusing purely on used cars, Kamux holds the 3rd place Largest used car dealers Home Operating countries Pcs in 2021 – Kamux estimate in Europe in 2021 country Constellation Group UK AT, BE, CZ, DK, FI, FR, DE, GR, HU, IE, IT, LU, NL, NO, PL, PT, RO, SL, SE, CH, TK, 80,000 – 100,000 U
Slide 5: Kamux Q1 2022 in brief
Kamux Q1 2022 in brief 1. 3. 5. Revenue increased by 13.1% Adjusted operating profit was at International operations strengthened – total to EUR 237.3 million (209.9) previous year’s level and was EUR 5.7 revenue in Sweden grew by 21.3% to EUR 80.4 million (5.7), or 2.4% (2.7) of revenue million and
Slide 6: The market for used cars contracted in all operating countries
The market for used cars contracted in all operating countries Market Kamux Market size market Market development in Kamux position and (2021) share Q1 2022 development in Q1 2022 Kamux's successful Suomi ~0.6 million ~8.0% We estimate that the Kamux maintained its concept is inspiring cars #1 marke
Slide 7: Strong revenue growth driven by higher average prices
Kamux Q1 2022 — Strong revenue growth driven by higher average prices Revenue (EUR million) Adjusted Operating Profit (EUR million) 13.1% 260 13 240 12 220 11 200 10 180 9 160 8 -0.5% 140 7 120 6 100 5 80 4 60 3 40 2 20 1 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2019 2021 2019 2021 2020 2022 2020 2022 The revenu
Slide 8: Number of sold cars decreased in Q1 2022
Number of sold cars decreased in Q1 2022 – favorable development in Sweden and Germany was not sufficient to cover the decline in Finland Sold cars (pcs) -3.9% 20,000 18,699 18,000 17,285 16,760 16,728 16,242 16,000 15,409 15,733 15,601 14,395 14,227 14,000 13,441 13,413 12,000 13,171 12,751 11,513
Slide 9: Revenue from integrated services grew in Q1 2022
Revenue from integrated services grew in Q1 2022 Revenue from integrated services MEUR % 14 5.7% 6 5.4% 5.3% 12.9 5.0% 5.1% 5.3% 11.8 12 4.7% 4.6% 5.0% 5 10.7 10.2 4.5% 9.9 10 9.4 9.4 9.4 4.3% 4.2% 8.9 4 8.6 8.6 7.9 8 3 6 2 4 2 1 0 0 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q3 21 Q4 21
Slide 10: New openings and showrooms on May 12, 2022
New openings and showrooms on May 12, 2022 2022 FINLAND SWEDEN GERMANY TOTAL Q1 Oulu — — 1 Q2 — Malmö — 1 Nyköping Announced openings — — 2 Kalmar Petikko, Vantaa Announced showroom expansions — — 2 Pori 2022 FINLAND SWEDEN GERMANY TOTAL Total showrooms on May 12, 2022 48* 22 8 78 * Kamux transferre
Slide 11: Financial development
Financial development 11 MAY 13, 2022 Q1 2022 INTERIM REPORT
Slide 12: Very strong growth of international operations in a challenging market environment
Very strong growth of international operations in a challenging market environment • The war in Ukraine has had a significant impact on consumer behavior • Gross margin improved in Sweden and Germany. The Group's margin per car was EUR 1,554, an increase of 8.9% from the previous year. • Funding str
Slide 13: Key figures
Key figures (MEUR) 1-3/2022 1-3/2021 Change, % 1-12/2021 Revenue 237.3 209.9 13.1% 937.4 Gross profit 24.3 23.2 4.6% 101.3 as percentage of revenue, % 10.2% 11.0% 10.8% Operating profit (EBIT) 5.7 5.7 -0.5% 28.0 as percentage of revenue, % 2.4% 2.7% 3.0% Adjusted operating profit 5.7 5.7 -0.5% 31.4
Slide 14: Kamux Finland — Revenue growth in Q1 2022
Kamux Finland — Revenue growth in Q1 2022 driven by higher average prices and integrated services Revenue (EUR million) 4.4% 175 150 • Revenue increased by 4.4% compared to the 125 100 previous year and was EUR 153.0 million (146.6) 75 • Gross margin decreased to EUR 17.8 million (18.5), 50 25 or 11
Slide 15: Kamux Sweden — Very strong revenue growth in Q1 2022
Kamux Sweden — Very strong revenue growth in Q1 2022 Revenue (EUR million) 100 +21.3% • Total revenue increased by 21.3% compared to the 80 previous year and was EUR 80.4 million (66.3) 60 • Gross margin increased to EUR 4.8 million (3.8), or 40 6.0% (5.8) of revenue 20 • Operating profit increased
Slide 16: Kamux Germany — Good growth of gross profit and revenue in Q1 2022
Kamux Germany — Good growth of gross profit and revenue in Q1 2022 Revenue (EUR million) 30 +7.3% • Total revenue increased by 7.3% compared to the 25 20 previous year and was EUR 22.9 million (21.3) 15 • Gross margin increased to EUR 1.6 million (0.9), or 7.1% 10 (4.0) of revenue 5 • Operating loss
Slide 17: Net working capital and inventories raised in preparation for the summer period
Net working capital and inventories raised in preparation for the summer period Net Working Capital (EUR million) Inventories (EUR million) +19.5% 130 +22.6% 150 120 140 110 130 120 100 110 90 100 80 90 70 80 60 70 50 60 50 40 40 30 30 20 20 10 10 0 0 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21
Slide 18: Net cash flow reflects preparation for the summer period
Net cash flow reflects preparation for the summer period in a tense purchasing market Cask Flow from Operating Activities Components of Cash Flow from Operating Activities Q1 (EUR million) 2022 (EUR million) 25.0 20 22.5 20.0 15 17.5 15.0 10 12.5 10.0 4.5 7.5 5 4.2 5.0 2.5 0 -16.5 0.0 -2.5 -5 -5.0 -
Slide 19: Investments in leading with knowledge continued, Oulu showroom opened
Investments in leading with knowledge continued, the Oulu showroom and processing center was opened Investments (EUR million) 2.5 • In line with our strategy, we have systematically 2.0 invested in growth 1.5 • Kamux seeks to gain a significant competitive 1.0 advantage by investing in leading with
Slide 20: Dividend from 2021
Dividend from 2021 • AGM decided that a dividend of EUR 0.20 per share (EUR 0.24 per share) be paid • Earnings per share were EUR 0.49 (EUR 0.58) • Payout ratio is 41% (41%) • Dividend paid in two instalments • EUR 0.08 was paid on April 29, 2022 • EUR 0.12 will be paid on Oct 28, 2022 20 MAY 13, 20
Slide 21: Strategy, outlook and financial targets
Strategy, outlook and financial targets 21 MAY 13, 2022 Q1 2022 INTERIM REPORT
Slide 22: Kamux seizes the huge market opportunity and accelerates growth
Kamux seizes the huge market opportunity as a strongly digital and international retail chain and Strategy period 2021―2023 accelerates growth Profitability development is built on business growth and scalability during the strategy period
Slide 23: Seamless Omni-Channel Customer Experience
Seamless Omni-Channel Customer Experience RESEARCH COMPARISON AND CONSIDERATION The role of the seller is also key in digital transactions: • Creating customer and service experience PURCHASE • Supporting the purchasing process: chat, phone, video DECISION 95% of customers spend over 4hrs online to
Slide 24: Kamux Way to Accelerate Growth
Kamux Way to Accelerate Growth Seamless omni- Utilizing data Efficient Developing channel customer and leading processes, capabilities experience and with scalability and and continuous services knowledge store strategy learning Systems for Trust and knowledge affordability Induction management and
Slide 25: Financial targets 2021–2023
Financial targets 2021–2023 • Revenue growth of over 20% annually Indicator Target Actual 1-3/2022 (from Feb 26, 2021) • Annually increasing adjusted EBIT and adjusted Revenue growth Over 20% 13.1% EBIT margin over 3.5% annually • Return on equity (ROE) over 25% Adjusted Annually increasing EUR 5.7
Slide 26: Outlook for 2022
Outlook for 2022 In 2022, Kamux expects its revenue to be at least EUR 1,100 million and adjusted operating profit to increase from the previous year Although Kamux's business is not exposed to immediate Russia-related risks, Russian military actions in Ukraine have caused significant uncertainty ac
Slide 27: Summary
Summary
Slide 28: Summary Q1 2022
Summary Q1 2022 1. 3. 5. Revenue increased by 13.1% Adjusted operating profit was at International operations strengthened – total to EUR 237.3 million (209.9) previous year’s level and was EUR 5.7 revenue in Sweden grew by 21.3% to EUR 80.4 million (5.7), or 2.4% (2.7) of revenue million and in Ger
Slide 29: Thank you!
KAMUX 6 Thank you!
Slide 30: Disclaimer
Disclaimer Since these statements are based on current It should be noted that Kamux and its business plans, estimates and projections, they involve are exposed to various risks and uncertainties, risks and uncertainties that may cause actual and certain statements herein which are not results to ma