Slide 1: Kamux — Annual Results Presentation 2020
Kamux — Annual Results Presentation 2020 February 26, 2021 CEO Juha Kalliokoski CFO Marko Lehtonen
Slide 2: Table of Contents
Table of Contents Annual Results Presentation 2020 Q4 in Brief Overview 2020 Financial Outlook and Summary Development Financial Targets
Slide 3: Kamux Vision: #1 used car retailer in Europe
Kamux Vision #1 used car retailer in Europe
Slide 4: Kamux Q4 2020 in Brief
Kamux Q4 2020 in Brief 1. 3. 5. Adjusted operating profit Total revenue increased in Sweden by Revenue increased by 13.3% to increased by 38.8% to 40.7% to EUR 62.3 million EUR 7.5 million (5.4) and in Germany by EUR 198.8 million (175.4) 24.5% to EUR 20.1 million Gross profit increased Like-for-lik
Slide 5: Parallel Development in the Market Areas
Parallel Development in the Market Areas Market Kamux’s Market Kamux’s position and size market development development during Market (2020) share during Q4 Q4 • The number of corona Finland ~0.6 ~8.0% We estimate that Kamux maintained its infections increased million #1 the used car market leader t
Slide 6: Kamux Q4 2020 — Revenue Increased by 13.3%, Profitability Improved
Kamux Q4 2020 — Revenue Increased by 13.3%, Profitability Improved Revenue (EUR million) Adjusted Operating Profit (EUR million) +13,3% 13 220 12 200 11 180 10 160 9 +38,8% 140 8 120 7 100 6 5 80 4 60 3 40 2 20 1 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2017 2019 2017 2019 2018 2020 2018 2020 • The revenue incre
Slide 7: Number of Cars Sold Increased Q4 2020
Number of Cars Sold Increased Q4 2020 Sold Cars (pcs) +9,3% 18 000 17 285 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 12 213 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 2 876 2 000 2 132
Slide 8: Integrated Services Revenue increased Q4 2020
Integrated Services Revenue increased Q4 2020 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% 8,9 8,6 8,6 7,8 7,9 8 4 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 Finance
Slide 9: 2020 overview
2020 overview
Slide 10: Kamux in 2020: Business Model Carried through the Pandemic
Kamux in 2020: Business Model Carried through the Pandemic 1. 3. 5. Revenue increased by Adjusted operating profit Internationalization proceeded and revenue 10.0% increased by 20.8% increased in Sweden by 35.9% to EUR 724.1 million (658.5) to EUR 30.7 (25.4) to EUR 215.5 million, and in Germany by
Slide 11: Kamux in 2020 — Very Profitable Growth in Exceptional Market Situation
Kamux in 2020 — Very Profitable Growth in Exceptional Market Situation Revenue (EUR million) Adjusted Operating Profit (EUR million) MEUR % +10,0% 750 35 8,0 +24,8% +20,8% 700 650 30 7,0 600 +16,0% +16,1% 550 6,0 +12,4% 25 +3,4% +17,5% 500 450 4,4% 5,0 20 4,1% 4,1% 4,2% 400 3,9% 4,0 350 300 15 3,0 2
Slide 12: Number of Sold Cars Increased by 9.4% in 2020
Number of Sold Cars Increased by 9.4% in 2020 Sold Cars (pcs) +9,4% 65 000 +19,0% 60 657 60 000 55 432 55 000 +13,8% 50 000 +12,9% 46 596 45 000 40 957 40 000 36 290 45 435 35 000 43 404 30 000 38 217 25 000 34 348 20 000 31 375 15 000 10 000 10 485 8 263 5 000 4 784 6 133 4 098 3 765 4 737 0 817 1
Slide 13: Integrated Services Revenue Continued to Grow in 2020
Integrated Services Revenue Continued to Grow in 2020 Integrated Services Revenue MEUR % 40 6 32,9 37,1 5,0% 5,1% 5,0% 5,1% 35 4,8% 5 30 27,1 4 25 22,8 20 19,3 3 15 2 10 1 5 0 0 2016 2017 2018 2019 2020 Finance fees and insurance commissions Kamux Plus Integrated services % of Revenue
Slide 14: New Openings and Showrooms on February 26, 2021
New Openings and Showrooms on February 26, 2021 2020 FINLAND SWEDEN GERMANY OPENINGS 2020 Q1 Espoo Niittykumpu 1 Sundsvall Q2 Tornio Stockholm Kaltenkirchen 5 Värmdö Q3 Lübeck 1 Q4 — — — — Announced Openings — Gothenburg — — 2020 FINLAND SWEDEN GERMANY TOTAL Total showrooms Feb 26, 50 20 8 78 2021
Slide 15: Digital buying process, cross-selling and home delivery were highlighted in 2020
Digital buying process, cross-selling and home delivery were highlighted in 2020 Cross-selling in 2020: 36% in Finland 31% in the Group Over 900,000 monthly wesbsite visits on kamux.fi/se/de
Slide 16: Financial Development
Financial Development Marko Lehtonen, CFO
Slide 17: Profitable Growth Improved ROE, ROI and Financial Position
Profitable Growth Improved ROE, ROI and Financial Position • Return on equity (ROE) 26.3 % was strong and increased from the previous year The financial • Equity ratio 50.1% slightly increased during position the fourth quarter with the payment of creates the RCF basis for • A deferred tax asset amo
Slide 18: Key Figures
Key Figures 10-12/ 10-12/ 1-12/ 1-12/ (MEUR) Change, % Change, % 2020 2019 2020 2019 Revenue 198.8 175.4 13.3% 724.1 658.5 10.0% Gross profit 23.8 20.0 18.7% 91.5 79.6 15.0% as percentage of revenue, % 12.0% 11.4% 12.6% 12.1% Operating profit (EBIT) 7.4 5.4 37.5% 31.2 25.3 23.1% as percentage of rev
Slide 19: Kamux Finland — Very Profitable Revenue Growth in Q4 2020
Kamux Finland — Very Profitable Revenue Growth in Q4 2020 Revenue (EUR million) +7,9% • Revenue increased by 7.9% compared to the previous year and 160 140 was EUR 135.7 million (125.8). 120 100 • Gross margin increased to EUR 17.9 million (15.3), or 13.2% 80 (12.1) of revenue. 60 40 • Operating pro
Slide 20: Kamux Sweden — Very Strong Revenue Growth in Q4 2020
Kamux Sweden — Very Strong Revenue Growth in Q4 2020 Revenue (EUR million) +40,7% 70 60 • Total revenue increased 40.7% compared to the 50 previous year and was EUR 62.3 million (44.2). 40 30 • Gross margin increased to EUR 4.2 million (3.3), or 20 10 6.7% (7.4) of revenue. 0 Q1 Q2 Q3 Q4 • Operating
Slide 21: Kamux Germany — Very Strong Revenue Growth in Q4 2020 despite the lock-down
Kamux Germany — Very Strong Revenue Growth in Q4 2020 despite the lock-down in December Revenue (EUR million) 25 +24,5% • Total revenue increased by 24.5% compared to 20 the previous year and was EUR 20.1 million 15 (16.1). 10 • Gross margin increased to EUR 1.7 million 5 (1.5), or 8.5% (9.3) of rev
Slide 22: The Availability of Used Cars Remained Challenging, Preparations for Growth
The Availability of Used Cars Remained Challenging, Preparations for Growth Net Working Capital (EUR million) Inventories (EUR million) +43,5% 80 100 +33,3% 90 70 80 60 70 50 60 40 50 40 30 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 Q2 20 Q3 20 Q4 20 Q1 18 Q2 18 Q3 18 Q
Slide 23: Inventory Level Reflects Growth Orientation
Inventory Level Reflects Growth Orientation Cash Flow from Operations (EUR million) Change (EUR million) to Comparison Period 20 20 18 16 14 15 12 1 10 12 1 8 10 8 6 4 2 5 0 3 -2 -4 0 -6 Cash flow Profit Adjustments Changes Financial Cash flow Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2
Slide 24: Investments in Knowledge Management Continued
Investments in Knowledge Management Continued Investments (EUR million) • In line with our strategy, we have systematically invested in growth. 2,0 • Kamux seeks to gain a significant competitive 1,5 advantage by investing in leading with knowledge as 1,0 well as digital customer and business proces
Slide 25: Dividend Proposal and Annual General Meeting
Dividend Proposal and Annual General Meeting • The Board of Directors will propose to the AGM a dividend of EUR 0.24 per share (0.23) to be distributed for the year 2020 • Earnings per share in 2020 were EUR 0.58 (0.48) • The proposed dividend is 41% (48%) of net profit • The Annual General Meeting
Slide 26: Outlook and Financial Targets
Outlook and Financial Targets
Slide 27: Outlook and Financial Targets 2019―2022
Outlook and Financial Targets 2019―2022 € € € 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 company published a st
Slide 28: The Company's Strategic Focus Areas for the Years 2021―2023
The Company’s Strategic Focus Areas for the Years 2021―2023 Omnichannel Utilizing data and customer experience leading with and services knowledge Developing Efficient processes capabilities and and scalability continuous learning
Slide 29: Outlook and Financial Targets 2021―2023
Outlook and Financial Targets 2021―2023 • Revenue growth of over 20% annually Target Indicator (from Feb 26, Actual 2020 • Annually increasing adjusted operating 2021) profit and adjusted EBIT margin over 3.5% Revenue growth Over 20% 10.0% • Return on equity (ROE) over 25% annually Adjusted EUR 30.7
Slide 30: Summary
SUMM ALY. _— 3
Slide 31: Summary Q4/2020
Summary Q4/2020 Adjusted operating profit Revenue increased by increased by 38.8% to 13.3% to EUR 7.5 million (5.4) EUR 198.8 million (175.4) Kamux’s growth was strong Gross profit increased and very profitable despite by 18.7% to the exceptional operating EUR 23.8 million (20.0) environment
Slide 32: Questions?
Questions?
Slide 33: 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