Slide 1: Revenue decreased and adjusted operating profit decreased significantly
REVENUE DECREASED AND ADJUSTED OPERATING PROFIT DECREASED SIGNIFICANTLY Q1 2025 Results CEO Tapio Pajuharju Q1 2025 RESULTS 13.5.2025 1
Slide 2: Table of Contents Q1 2025 Results
TABLE OF CONTENTS Q1 2025 RESULTS 1. Q1 in brief 2. Market position, Q1 Highlights, Changes in showroom network 3. Review by country, Strategy 4. Financial development 5. Long-term targets and outlook, Summary Q1 2025 RESULTS 13.5.2025 2
Slide 3: Intense competition and a tight purchasing market characterized Q1 2025
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 4: Used car market growth in Finland and Sweden from C2C trade, dealer sales flat
USED CAR MARKET GROWTH IN FINLAND AND SWEDEN FROM C2C TRADE, DEALER SALES FLAT Market size Kamux market Market development in Kamux position and New passenger car registrations Market (2024) share* Q1 2025 development in Q3 2024 across the EU were at PY’s level in January–March 2025 (ACEA). ~8.0% De
Slide 5: Profitability hit by unfavorable stock and actions to correct it
PROFITABILITY HIT BY UNFAVORABLE STOCK AND ACTIONS TO CORRECT IT; SOME MARGIN IMPROVEMENT VISIBLE TOWARDS THE END OF THE QUARTER Revenue (EUR million) Adjusted operating profit (EUR million) 13 280 12 260 11 240 10 220 9 200 8 180 7 160 6 140 5 120 4 100 3 80 2 60 1 40 0 20 -1 Q1 Q2 Q3 Q4 0 -2 Q1 Q2
Slide 6: Challenging purchasing market and suboptimal car selection resulted in volume decline
CHALLENGING PURCHASING MARKET AND SUBOPTIMAL CAR SELECTION RESULTED IN VOLUME DECLINE Sold cars (pcs) -8.9% 20,000 19,364 18,484 1,567 18,000 17,215 17,037 1,515 16,952 16,354 16,137 15,688 1,223 1,414 1,684 16,000 15,324 3,529 1,322 14,681 1,428 2,774 14,890 14,694 1,280 1,300 14,000 3,678 1,134 3,
Slide 7: Revenue from integrated services affected by low volumes, Kamux Plus solid
REVENUE FROM INTEGRATED SERVICES AFFECTED BY LOW VOLUMES, KAMUX PLUS PERFORMANCE SOLID Revenue from integrated services MEUR 18 10% 16 15.3 15.4 9% 14.6 13.6 13.4 13.6 13.7 8% 14 12.8 13.0 13.2 6.9% 12.4 11.5 6.4% 7% 12 5.8% 5.7% 5.5% 5.4% 6% 10 5.2% 5.2% 5.2% 5.0% 4.9% 4.8% 5% 8 4% 6 3% 4 2% 2 1% 0
Slide 8: Changes in showroom network
CHANGES IN SHOWROOM NETWORK Finland Sweden Germany Total Q1/2025 Mäntsälä showroom closed - - -1 Q2/2025 to date - - - Total showrooms on 43 17 8 68 May 13, 2025 New showroom to be Announced New showroom to be opened in Network assessment ongoing opened in Schwerin in July openings/closures Jyväskyl
Slide 9: Finland burdened by suboptimal car selection
FINLAND BURDENED BY SUBOPTIMAL FY 2024 Revenue MEUR 738.7 Adj. EBIT margin 3.5% CAR SELECTION 250 5 200 4 • Market growth driven by sales by private individuals, 150 3 dealer sales flat 100 2 • Competition and sourcing market continued to be extremely tight 50 1 • Extremely difficult January and Feb
Slide 10: Lack of volumes in Sweden
LACK OF VOLUMES IN FY 2024 Revenue MEUR 252.7 SWEDEN Adj. EBIT margin -1.7% 80 0 70 -1 60 • Moderate market growth driven by sales by private 50 -2 individuals – dealer sales flat 40 30 -3 • Very heavy volume decline led to significantly 20 -4 reduced revenue 10 0 -5 • Lower number of showrooms (-6)
Slide 11: Clearance of long-day stock impacted volumes and margin in Germany
CLEARANCE OF LONG-DAY STOCK IMPACTED VOLUMES AND MARGIN IN FY 2024 Revenue MEUR 103.4 Adj. EBIT margin -1.0% GERMANY 30 1 25 0 • Very moderate market growth in Germany, 20 -1 consumer confidence remained low 15 -2 10 -3 • Volumes declined as the offering did not meet 5 -4 the demand 0 -5 • Lower num
Slide 12: 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 Q1 2025 RESULTS 13.5.2025 12 SOURC
Slide 13: Our vision: become the #1 used car retailer in Europe
OUR VISION BECOME THE #1 USED CAR RETAILER IN EUROPE Q1 2025 RESULTS 13.5.2025 13
Slide 14: One Kamux – productivity improvement
ONE KAMUX – PRODUCTIVITY IMPROVEMENT Data-driven pricing Data-driven S&OP Controls, policies and discount Inventory management development Q1 2025 RESULTS 13.5.2025 14
Slide 15: 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 16: 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 17: Financial development
FINANCIAL DEVELOPMENT Q1 2025 RESULTS 13.5.2025 17
Slide 18: Suboptimal car selection affected volumes and margins
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 19: 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 20: Net working capital change driven by inventory value decrease
NET WORKING CAPITAL CHANGE DRIVEN BY INVENTORY VALUE DECREASE Net Working Capital (EUR million) Inventories (EUR million) 140 160 -17.7% -19.1% 120 140 120 100 100 80 80 60 60 40 40 20 20 0 0 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/23 Q1/24 Q2/24 Q3/24 Q4/24 Q1/25 Q2/22 Q3/22 Q4/22 Q1/23 Q2/23 Q3/23
Slide 21: Operating cash flow improved significantly as a result of active inventory management
OPERATING CASH FLOW IMPROVED SIGNIFICANTLY AS A RESULT OF ACTIVE INVENTORY MANAGEMENT Cash Flow from Operating Activities Components of Cash Flow from Operating Activities (EUR million) Q1 2025 (EUR million) 30 25 22.3 -1.5 22.0 25 22.0 20 20 15 15 10 5 10 0 5 -5 5.2 -10 0 -15 -20 -5 -4.0 Q222 Q322
Slide 22: Dividend from 2024
DIVIDEND FROM 2024 • The Board of Directors proposes a dividend of maximum EUR 0.07 per share to be distributed for the year 2024 (EUR 0.17 per share) • The Board proposes that the dividend be paid in one instalment in autumn 2025, and that the Board be authorized to decide on the final amount of di
Slide 23: Financial targets and outlook
FINANCIAL TARGETS AND OUTLOOK Q1 2025 RESULTS 13.5.2025 23
Slide 24: Tracking progress towards our long-term targets
TRACKING PROGRESS TOWARDS OUR LONG-TERM TARGETS 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(2 60 50 51 60 eNPS(3
Slide 25: Outlook for 2025
OUTLOOK FOR 2025 Kamux expects its adjusted operating profit for 2025 to improve from the previous year. Q1 2025 RESULTS 13.5.2025 25
Slide 26: Intense competition and a tight purchasing market characterized Q1 2025
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 27: Q&A
Q&A Q1 2025 RESULTS 13.5.2025 27
Slide 28: Thank you!
THANK YOU! Q1 2025 RESULTS 13.5.2025 28
Slide 29: 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 profitabi