Slide 1: Kamux — Quarterly Results Presentation January–March 2020
Kamux — Quarterly Results Presentation January―March 2020 May 15, 2020 CEO Juha Kalliokoski Group Controller Milla Kärpänen
Slide 2: Table of Contents
Table of Contents Interim Report Presentation Q1 2020 Outlook and Financial Q1 in Brief Financial Development Summary Targets
Slide 3: Kamux Vision: #1 used car retailer in Europe
Kamux Vision #1 used car retailer in Europe
Slide 4: Kamux Q1 2020 in Brief
Kamux Q1 2020 in Brief 1. 3. 5. Internationalization proceeded strongly. Revenue increased by Adjusted operating profit Total revenue increased in Sweden by 17.0% to EUR 167.4 declined by -15.2 % to 34.1% to EUR 44.8 million million (143.0) EUR 4.0 million (4.7) and in Germany by 41.3% to EUR 15.2 m
Slide 5: Kamux Grew Faster than the Market during Q1
Kamux Grew Faster than the Market during Q1 Market Kamux’s Market Kamux’s position and size market development development during Market (2019) share during Q1 Q1 • The corona pandemic and Finland ~0.5 ~8.0% We estimate that Kamux maintained its measures related to it affected million #1 the used ca
Slide 6: The Used Car Market is Large and Fragmented
The Used Car Market is Large and Fragmented Finland, Sweden and Germany: EUR 100 BILLION
Slide 7: Key measures during corona pandemic
Key measures during corona pandemic • Ensuring the safety of customers in showrooms • Ensuring the health of employees with work arrangements, open communication • Contingency plans for different scenarios, taking into account the spread of the pandemic and possible restrictions related to it in dif
Slide 8: The Role of Digital was Highlighted in Q1/2020
The Role of Digital was Highlighted in Q1/2020
Slide 9: Kamux Q1 2020 — Strong Revenue Growth 17.0%
Kamux Q1 2020 — Strong Revenue Growth 17.0% Revenue (EUR million) Adjusted Operating Profit (EUR million) 200 9 +17,0% 180 8 160 7 140 6 120 -15,2% 5 100 4 80 3 60 40 2 20 1 0 0 Q1 Q2 Q3 Q4 Q1 Q2 2017 2019 Q3 Q4 2017 2019 2018 2020 2018 2020 • The growth was based on the sales of new • Adjusted oper
Slide 10: Number of Cars Sold Grew by 16.7% during Q1 2020
Number of Cars Sold Grew by 16.7% during Q1 2020 Sold Cars (pcs) +16,7% 16 000 15 409 14 395 14 227 14 000 13 441 12 564 12 187 12 000 11 379 11 433 11 220 11 083 10 294 9 882 10 000 12 213 10 888 10 937 8 000 10 615 10 328 9 688 9 246 9 337 9 486 9 066 6 000 8 325 8 522 4 000 2 000 2 132 2 385 2 23
Slide 11: Integrated Services Revenue Grew Q1 2020
Integrated Services Revenue Grew Q1 2020 Integrated Services Revenue MEUR % 6,0% 12 6 5,3% 5,4% 5,3% 5,1% 5,0% 5,0% 5,0% 4,7% 4,7% 4,8% 4,7% 10 9,4 5 8,9 8,6 7,8 7,9 8 4 7,1 6,8 6,1 6,1 6,4 6 5,6 5,8 3 4 2 2 1 0 0 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Finance fees a
Slide 12: Showrooms on May 15, 2020
Showrooms on May 15, 2020 2020 FINLAND SWEDEN GERMANY OPENINGS 2020 Q1 Espoo Niittykumpu 1 Openings by country after the Tornio Stockholm Kaltenkirchen 3 reporting period Showrooms totally, 15 May 2020 50 18 7 75 Göteborg >> Sundsvall Openings published Lübeck 3 Värmdö
Slide 13: Financial Development
Financial Development Milla Kärpänen, Group Controller
Slide 14: Financial position and cash reserves in the exceptional operating environment
Financial position and cash reserves in the exceptional operating environment • Improved cost and inventory management Several • In March, the five-year credit facility agreement of EUR 40 million was renewed measures to • EUR 10.0 million of RCF in use in March secure result • Despite RCF, the equi
Slide 15: Key Figures
Key Figures 1−3/ 1−3/ 1−12/ (MEUR) 2020 2019 Change, % 2019 Revenue 167.4 143.0 17.0 % 658.5 Gross profit 18.3 16.6 10.0 % 79.6 as percentage of revenue, % 10.9 % 11.6 % 12.1% Operating profit (EBIT) 4.0 4.6 -14.7 % 25.3 as percentage of revenue, % 2.4 % 3.2 % 3.8% Adjusted operating profit 4.0 4.7
Slide 16: Strong Revenue Growth Q1 2020
Strong Revenue Growth Q1 2020 Revenue (EUR million) 200 • The number of used cars sold by Kamux in 180 +17,0% the first quarter grew by 16.7% 160 and totaled 14,227 cars (12,187). 140 • Kamux’s revenue grew by 17.0% in Q1 120 2020. 100 • The increase in revenue was driven by 80 new showrooms, busine
Slide 17: Kamux Finland — Strong Revenue Growth in Q1 2020
Kamux Finland — Strong Revenue Growth in Q1 2020 Revenue (EUR million) +12,5% 140 • Revenue grew by 12.5% compared to the previous year 120 100 and was EUR 121.9 million (108.3). 80 • Gross margin increased to EUR 14.5 million (13.5). or 60 40 11.9 % (12.5%) of revenue. 20 0 • Operating profit decli
Slide 18: Kamux Sweden — Very Strong Revenue Growth Continued Q1 2020
Kamux Sweden — Very Strong Revenue Growth Continued Q1 2020 Revenue (EUR million) +34,1% 50 • Total revenue grew 34.1% compared to the previous 40 30 year and was EUR 44.8 million (33.4). 20 • Operating profit decreased compared to the previous 10 year and was EUR 0.1 million (0.2) and 0.3% (0.7) of
Slide 19: Kamux Germany — Very Strong Revenue Growth Continued Q1 2020
Kamux Germany — Very Strong Revenue Growth Continued Q1 2020 Revenue (EUR million) 17,5 +41,3% • Total revenue grew by 41.3% compared to the 15,0 previous year and was EUR 15.2 million (10.8). 12,5 10,0 • Operating loss increased compared to the 7,5 5,0 previous year and was EUR -0.7 million (-0.4),
Slide 20: Net Working Capital Decreased and Inventories Increased with the Number of Stores
Net Working Capital Decreased and Inventories Increased with the Number of Stores Net Working Capital (EUR million) Inventories (EUR million) +10,3% 80 80 -2,8% 70 70 60 60 50 50 40 40 30 30 20 20 10 10 0 0 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q1 17 Q2 17 Q3
Slide 21: Cash Flow from Operations Decreased
Cash Flow from Operations Decreased Cash Flow from Operations (EUR million) Change (EUR million) to Comparison Period 20 20 18 18 16 16 14 14 12 12 10 10 8 8 6 6 4 2 4 2 1 2 0 0 6 -2 -4 -2 1 -6 -4 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Cash Flow from Adjustment
Slide 22: Investments in Knowledge Management Continued
Investments in Knowledge Management Continued Investments (EUR million) • In line with our strategy, we have systematically invested in growth. 1,5 • Kamux seeks to gain a significant competitive 1,0 advantage by investing in leading with knowledge as 0,5 well as digital customer and business proces
Slide 23: Outlook and Financial Targets
Outlook and Financial Targets
Slide 24: Outlook and Financial Targets
Outlook and Financial Targets € € € Revenue growth of EBIT margin of Distribute dividends of Kamux does not over 10% annually at least 4% in at least 30% of net publish a short-term 2019-2022 2019-2022 profits outlook Revenue Profitability Dividend Policy Outlook The global corona pandemic and the r
Slide 25: Dividend Development
Dividend Development Paid dividends (EUR millions) • The AGM approved Board of Directors’ proposal 10 for a dividend of EUR 0.23 per share payable in 9 two instalments in April (EUR 0.12) and in 8 October +43,4% 7 • The AGM authorized the Board of Directors to 6 decide on the payment or the cancella
Slide 26: Summary
Summary
Slide 27: Summary Q1/2020
Summary Q1/2020 Revenue increased by Adjusted operating profit 17.0 % declined by -15.2 % to EUR 167.4 million to EUR 4.0 million (143.0) (4.7) Gross profit increased Very strong by 10.0 % international growth continued to EUR 18.3 million (16.6)
Slide 28: Questions?
WA “Questio 52 ‘ i . a ae |
Slide 29: Disclaimer
Disclaimer It should be noted that Kamux and its Since these statements are based on current business are exposed to various risks and plans, estimates and projections, they uncertainties, and certain statements involve risks and uncertainties that may herein which are not historical facts, cause ac