Slide 1: Kamux – 2017 Result Presentation
Kamux – 2017 Result Presentation March 8, 2018
Slide 2: Kamux's Growth Accelerated and Profitability Improved during Q4 2017
Kamux’s Growth Accelerated and Profitability Improved during Q4 2017 1. Growth accelerated and profitability improved during Q4 2017 • Revenue EUR 114.3 million (97.8), growth 16.9 %, adjusted operating profit EUR 3.3 million (3.0), growth 9.2 %,number of cars sold 10,294 (8,676), growth 18.6 % • Re
Slide 3: 2017: Year of Change and Growth
2017: Year of Change and Growth 1. In accordance with our strategy, we continued our journey to become the leading European retail chain specialized in used cars • Revenue EUR 454.9 million (404.8), growth 12.4 %, adjusted operating profit EUR 18.6 million (18.0), growth 3.4 %, sold cars 40,957 (36,
Slide 4: Kamux Vision: #1 used car retailer in Europe
Kamux Vision #1 used car retailer in Europe
Slide 5: Financial Targets
Financial Targets Revenue • Revenue of at least EUR 700 million in 2019 Profitability • EBIT margin of 4-5 % in 2019 and at least 5 % in the long term • Distribute dividends of at least 30 % of net profits • When deciding on the distribution of dividends, The Board of Directors will, in the best Div
Slide 6: Kamux Revenue Growth Accelerated in Q4 2017
Kamux Revenue Growth Accelerated in Q4 2017 10-12/ 10-12/ 1−12/ 1−12/ (MEUR) 2017 2016 2017 2016 • Number of used cars sold by Kamux in Q4 grew by Sales of used cars 108.2 92.6 432.0 385.5 18,6 % and totaled 10,294 (8,676) Financing fees and 5.2 4.3 19.2 15.8 • Revenue increased 16.9 % in Q4 2017 in
Slide 7: Sweden grew profitably in Q4 2017
Sweden grew profitably in Q4 2017 +20.2% • Kamux operations in Sweden have become more efficient 73.2 +49.5% 60.9 • Sweden has returned to growth 13.3 19.9 • During Q4 2017 44.0 % growth in Revenue number of cars sold and 49.5 % in revenue Q4 16 Q4 17 FY 16 FY 17 -0.1 • Profitability improved signif
Slide 8: Germany Grew Strongly
Germany Grew Strongly +110,4% • Implementation of Kamux concept and establishing operations in Germany 22,8 continued +85,9% 10,8 • During Q4 130.6 % growth in 5,8 3,1 number of cars sold ja 85.9 % in Liikevaihto revenue Q4 16 Q4 17 FY 16 FY 17 • Germany still loss-making Liikevoitto -0,4 -0,7 -0,7
Slide 9: Kamux's Growth in Finland Accelerated in Q4
Kamux’s Growth in Finland Accelerated in Q4 +8.5% 343.2 372.4 • Revenue grew 9,6 % in Q4 +9.6% 84.2 92.3 Revenue • Operating profit increased by EUR 0.4 million Q4 16 Q4 17 FY 16 FY 17 in Q4, operating profit margin stable at 5.1 % 22.2 23.1 • Like-for-like showroom growth continued to 4.3 4.7 impro
Slide 10: Cars Sold
Cars Sold Pcs 12,000 +18.6% 11,083 Finland 11,000 10,294 Sweden 9,833 9,698 9,882 10,000 9,258 Germany 9,000 8,523 8,676 8,000 7,000 9,246 6,000 8,522 8,452 8,255 8,325 5,000 7,933 7,419 7,571 4,000 3,000 2,000 • Car sales grew by 18.6 % 1,346 1,290 1,000 1,123 compared to the previous 933 171 1,107
Slide 11: Revenue from Integrated Services was Record High
Revenue from Integrated Services was Record High MEUR 6.1 Finance fees and insurance commissions 5.8 5.6 Sales of Kamux Plus 5.4 5.2 Integrated Services % of Revenue 5.0 4.9 4.2 5.3% 5.3% 5.0% 5.1% 4.7% 4.7% 4.7% 4.3% Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17
Slide 12: Net Working Capital and Inventories Grew Slightly
Net Working Capital and Inventories Grew Slightly • NWC grew by EUR 0.5 million 43.3 41.4 47.2 49.0 49.5 in Q4 2017 31.3 36.5 36.9 Net Working Capital (MEUR) Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 52.6 54.6 55.2 47.9 48.1 40.2 41.6 42.9 Inventories (MEUR) Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17
Slide 13: Investments into Future Growth Continue According to Strategy
Investments into Future Growth Continue According to Strategy -42.5% In line with our strategy we have -67.0% 2.1 systematically invested to our 1.3 1.2 future Capital Expenditure 0.4 • Key personnel: recruitment and training Q4 16 Q4 17 FY 16 FY 17 +13.8% • Internationalization: Necessary 4.9 resou
Slide 14: 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 0.12 per share (0.06) • Earnings per share was EUR 0.30 (0.29) in 2017 • The proposed dividend is 40 % (20%) of net profit • The Annual General Meeting will be held on April 26, 2018 in He
Slide 15: Key Figures
Key Figures 10−12/ 10−12/ 1−12/ 1−12/ (MEUR) Change, % Change, % 2017 2016 2017 2016 Revenue 114.3 97.8 16.9 % 454.9 404.8 12.4 % Gross profit 13.0 11.4 13.7 % 53.8 49.2 9.3 % as percentage of revenue. % 11.4 % 11.7 % 11.8 % 12.2 % Operating profit (EBIT) 3.3 2.2 45.9 % 16.2 15.7 3.6 % as percentage
Slide 16: Questions? Thank you!
Questions? Thank you!
Slide 17: Disclaimer
Disclaimer It should be noted that Kamux and its business are exposed to various risks and uncertainties and certain statements herein which are not historical facts, including, without limitation those regarding expectations for market growth and developments; expectations for growth and profitabil