Kamux Oyj · OMXHEX:KAMUX
Kamux Oyj — Shareholder Meeting (May 2025)
26 slides from Kamux Oyj's shareholder meeting presentation, May 22, 2025
Slide 1: CEO's Review
CEO’S REVIEW Tapio Pajuharju, CEO Kamux Corporation Annual General Meeting May 22, 2025 CEO'S REVIEW 22.5.2025 1
Slide 2: CEO'S REVIEW
CEO'S REVIEW 22.5.2025 2
Slide 3: Group Management Team
GROUP MANAGEMENT TEAM Tapio Pajuharju Enel Sintonen Johan Kempas Joni Tuominen Martin Verrelli CEO CFO Managing Director, Sweden Acting Managing Director, Managing Director, Germany As of August 1, 2025 Finland Joanna Clark Aino Hökeberg Juha Kalliokoski Jarkko Lehtismäki Altti Väisänen Chief People
Slide 4: Kamux is a retail chain specialized in preowned cars and related integrated services
KAMUX IS A RETAIL CHAIN SPECIALIZED IN PREOWNED CARS AND RELATED INTEGRATED SERVICES Revenue by country Cars sold by country Average number of employees A total of 67 showrooms* in 2024 in 2024 in 2024 in three operating countries 9% 0% 5,836 79 79 35 42 showrooms 17% 10,618 In total In total In tot
Slide 5: Kamux is Europe's fourth largest used car retailer
KAMUX IS EUROPE'S FOURTH LARGEST USED CAR RETAILER Largest used car retailers Number of operating Cars sold in 2024, Home country in Europe in 2024 countries pcs Aures Holding Czechia 3 108,661 Aramis France 6 86,166 Autohero Germany 9 74,438 Kamux Finland 3 66,548 CEO'S REVIEW 22.5.2025 5 SOURCE: C
Slide 6: Year 2024 in short
YEAR 2024 IN SHORT CEO'S REVIEW 22.5.2025 6
Slide 7: Operating environment in 2024 characterized by major transformation in the entire industry
OPERATING ENVIRONMENT IN 2024 CHARACTERIZED BY MAJOR TRANSFORMATION IN THE ENTIRE INDUSTRY • Sourcing has become increasingly challenging • Less cars available due to prolonged weak sales of new cars • A growing number of consumers sell their cars via commercial platforms • More players interested i
Slide 8: Key figures
KEY FIGURES (MEUR) 10-12/2024 10-12/2023 Change, % 1-12/2024 1-12/2023 Change, % Revenue 236.7 241.6 -2.0% 1,010.2 1,002.1 0.8% Gross profit 20.2 26.1 -22.6% 96.8 102.5 -5.6% as percentage of revenue, % 8.5% 10.8% 9.6% 10.2% Operating profit (EBIT) -0.7 4.5 -114.4% 7.9 15.8 -50.0% as percentage of r
Slide 9: Kamux has sold almost 600,000 used cars
KAMUX HAS SOLD ALMOST 600,000 USED CARS Revenue (M€) Cars sold (1,000) Showrooms 1,010 1,002 68,5 68,3 78 79 78 78 937 969 66,5 62,9 71 69 60,7 55,4 61 724 46,6 53 659 41,0 47 36,3 41 528 455 28,5 34 405 27 310 20,3 20 14,2 16 215 10,5 13 152 5,0 6,9 7 9 112 53 74 1,8 2,6 3,6 19 27 38 FIN SWE GER FI
Slide 10: Lack of lower priced petrol cars led to volume decline in all operating countries
LACK OF LOWER PRICED PETROL CARS LED TO VOLUME DECLINE IN ALL OPERATING COUNTRIES Sold cars (pcs) 20,000 19,364 -9.0% 18,484 1,567 18,000 17,215 17,037 1,515 16,952 16,354 16,137 15,601 15,688 1,223 1,414 1,684 16,000 15,324 3,529 1,322 14,681 1,428 2,774 14,890 1,248 1,280 1,300 14,000 3,678 1,134
Slide 11: Revenue from Kamux Plus solid while finance and insurance commissions impacted by volumes
REVENUE FROM KAMUX PLUS SOLID WHILE FINANCE AND INSURANCE COMMISSIONS IMPACTED BY VOLUMES Revenue from integrated services MEUR % 18 10 16 15.3 15.4 9 14.6 13.6 13.6 13.7 8 14 13.4 12.8 13.0 6.9% 12.4 11.8 7 12 11.5 6.4% 5.8% 5.2% 5.6% 6 5.0% 5.4% 10 5.2% 4.8% 5.2% 5.0% 4.9% 5 8 4 6 3 4 2 2 1 0 0 Q1
Slide 12: Tracking progress towards our long-term targets at the end of 2024
TRACKING PROGRESS TOWARDS OUR LONG-TERM TARGETS AT THE END OF 2024 LONG-TERM TARGET FY 2021 FY 2022 FY 2023 LTM(1 FINANCIAL Sold cars, pcs 100,000 / year 68,429 62,922 68,257 66,548 Revenue, MEUR 1,500 / year 937 969 1,002 1,010 Adj. EBIT margin, % 4% 3.3% 1.8% 1.8% 1.1% NON-FINANCIAL Q4/24 NPS(2 60
Slide 13: Dividend policy stays unchanged
DIVIDEND POLICY STAYS UNCHANGED DIVIDEND POLICY EUR EPS DPS Payout,% % 0,7 80 70 The company’s target is a dividend payout of at least 0,6 60 0,5 25% of the profit for the 0,4 50 financial year 40 0,3 30 For the year 2024, the Board 0,2 20 of Directors proposes a 0,1 10 dividend of maximum EUR 0.07
Slide 14: Key actions and events in 2024
KEY ACTIONS AND EVENTS IN 2024 1 2 3 Change of focus from Network optimization: Launch and sales to sourcing due to Closure of non-profitable stores and implementation of updated major changes in the focus on larger units in attractive strategy –Journey towards market and competitive locations, open
Slide 15: Q1 2025: Revenue decreased and adjusted operating profit decreased significantly
Q1 2025: REVENUE DECREASED AND ADJUSTED OPERATING PROFIT DECREASED SIGNIFICANTLY CEO'S REVIEW 22.5.2025 15
Slide 16: Intense competition and a tight purchasing market characterized Q1 2025 in all operating countries
INTENSE COMPETITION AND A TIGHT PURCHASING MARKET CHARACTERIZED Q1 2025 IN ALL OPERATING COUNTRIES Revenue decreased 3.4% to Adjusted operating profit Despite of declining number of Long-term target level in key EUR 232.6 million (240.7), decreased by 171.6% to EUR cars sold, integrated service cust
Slide 17: Suboptimal car selection affected volumes and margins even if actions started to get traction
SUBOPTIMAL CAR SELECTION AFFECTED VOLUMES AND MARGINS EVEN IF ACTIONS STARTED TO GET TRACTION • Sales volumes down vs. Q1/2024 in all markets and margins hit by suboptimal car selection. Margins started to improve towards the end of the quarter due to operative actions implemented Active inventory •
Slide 18: Key figures
KEY FIGURES (MEUR) 1-3/2025 1-3/2024 Change, % 1–12/2024 Revenue 232.6 240.7 -3.4% 1,010.2 Gross profit 18.1 24.4 -25.6% 96.8 as percentage of revenue, % 7.8% 10.1% 9.6% Operating result (EBIT) -2.6 2.3 -215.0% 7.9 as percentage of revenue, % -1.1% 1.0% 0.8% Adjusted operating result -1.9 2.7 -171.6
Slide 19: Tracking progress towards our long-term targets at the end of Q1/2025
TRACKING PROGRESS TOWARDS OUR LONG-TERM TARGETS AT THE END OF Q1/2025 LONG-TERM TARGET FY 2022 FY 2023 FY 2024 LTM(1 FINANCIAL Sold cars, pcs 100,000 / year 62,922 68,257 66,548 65,105 Revenue, MEUR 1,500 / year 969 1,002 1,010 1,002 Adj. EBIT margin, % 4% 1.8% 1.8% 1.1% 0.7% NON-FINANCIAL Q1/25 NPS
Slide 20: Outlook for 2025
OUTLOOK FOR 2025 Kamux expects its adjusted operating profit for 2025 to improve from the previous year. CEO'S REVIEW 22.5.2025 20
Slide 21: Strategy 2024–2026 Execution
STRATEGY 2024–2026 EXECUTION CEO'S REVIEW 22.5.2025 21
Slide 22: Become the #1 used car retailer in Europe
OUR VISION BECOME THE #1 USED CAR RETAILER IN EUROPE CEO'S REVIEW 22.5.2025 22
Slide 23: M&A to accelerate growth
CUSTOMER PROMISE OPERATIONAL EFFICIENCY Become the most friendly, Industrialize convenient and standardize operations and trustworthy used car across value chain retailer M&A TO ACCELERATE GROWTH Customer-centric Global and local purchasing offering for consumers teams to utilize power of and profes
Slide 24: One Kamux – Productivity improvement
ONE KAMUX – PRODUCTIVITY IMPROVEMENT Data-driven pricing Data-driven S&OP Controls, policies and discount Inventory management development CEO'S REVIEW 22.5.2025 24
Slide 25: CEO's Review
CEO'S REVIEW 22.5.2025 25
Slide 26: Thank you!
KAMIX 6S THANK YOU!