Slide 1: Kamux — Half Year Results Presentation January―June 2020
Kamux — Half Year Results Presentation January―June 2020 August 13, 2020 CEO Juha Kalliokoski CFO Marko Lehtonen
Slide 2: Table of Contents
Table of Contents Half Year Results Presentation Q2 2020 Outlook and Financial Q2 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 Q2 2020 in Brief
Kamux Q2 2020 in Brief 1. 3. 5. Total revenue increased in Sweden by Revenue decreased by Adjusted operating profit 2.4% to EUR 39.0 million -4.3% to EUR 150.5 increased by 1.6% to and in Germany by million (157.3) EUR 6.8 million (6.7) 17.0% to EUR 12.5 million Gross profit increased Like-for-like
Slide 5: Kamux's Market Areas Developed in Different Directions
Kamux’s Market Areas Developed in Different Directions Market Kamux’s Market Kamux’s position and • In April-June, measures related size market development development during to the corona pandemic were Market (2019) share during Q2 Q2 eased in Finland, Sweden Finland ~0.5 ~8.0% We estimate that Kam
Slide 6: The Used Car Market is Large, Fragmented and More Stable than New Car Sales
The Used Car Market is Large, Fragmented — and It Is More Stable than New Car Sales
Slide 7: Corona Pandemic
Corona Pandemic • Customer and Employee Safety as a Priority • Quick Response to the Situation • Kamux’s Business Model Proved its Strenghts in an Exceptional Operating Environment
Slide 8: Digital in a Significant Role in Customer's Purchasing Path
Digital in a Significant Role in Customer’s Purchasing Path Over 800,000 Monthly Web Site Visits on kamux.fi/se/de
Slide 9: Kamux Q2 2020 — Revenue Declined by -4.3%, Profitability Improved
Kamux Q2 2020 — Revenue Declined by -4.3%, Profitability Improved Revenue (EUR million) Adjusted Operating Profit (EUR million) 200 9 180 8 +1,6% -4,3% 160 7 140 6 120 5 100 4 80 3 60 2 40 1 20 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2017 2019 2017 2019 2018 2020 2018 2020 • The revenue declined by -4.3% and it
Slide 10: Number of Cars Sold Remained at Previous Year's Level Q2
Number of Cars Sold Remained at Previous Year’s Level Q2 2020 Sold Cars (pcs) -0,2% 16 000 15 409 14 395 14 227 14 000 13 441 13 413 12 564 12 187 12 000 11 379 11 433 11 220 11 083 10 294 10 000 12 213 10 888 10 937 8 000 10 615 10 291 10 328 9 688 9 246 9 337 9 486 9 066 6 000 8 522 4 000 2 000 2
Slide 11: Integrated Services Revenue Grew Q2 2020
Integrated Services Revenue Grew Q2 2020 Integrated Services Revenue MEUR % 6,0% 12 5,7% 6 5,3% 5,4% 5,3% 5,0% 5,0% 5,0% 4,7% 4,7% 4,8% 4,7% 10 9,4 5 8,9 8,6 8,6 7,8 7,9 8 4 7,1 6,8 6,1 6,1 6,4 6 5,8 3 4 2 2 1 0 0 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Finance fees a
Slide 12: Showrooms on August 13, 2020
Showrooms on August 13, 2020 2020 FIN SWE GER OPENINGS 2020 Q1 Espoo Niittykumpu 1 Sundsvall Q2 Tornio Tukholma Kaltenkirchen 5 Värmdö Opening by Country after the 0 Reporting Period Showrooms totally, 13 Aug 2020 50 20 7 77 Announced Openings Lübeck 1
Slide 13: Financial Development
Financial Development Marko Lehtonen, CFO
Slide 14: Fast Response Ensured Strong Net Cash Flow from the Operations
Fast Response Ensured Strong Net Cash Flow from the Operations • Successful cost and inventory management was reflected to the Kamux’s strong result and net cash financial • Despite RCF taken into use in March, position the equity ratio remained strong and became was 45.1% • Net cash (cash-borrowing
Slide 15: Key Figures
Key Figures 4-6/ 4-6/ 1-6/ 1-6/ 1−12/ (MEUR) Change, % Change, % 2020 2019 2020 2019 2019 Revenue 150.5 157.3 -4.3% 317.9 300.2 5.9% 658.5 Gross profit 20.6 20.1 2.4% 38.9 36.7 5.8% 79.6 as percentage of revenue, % 13.7% 12.8% 12.2% 12.2% 12.1% Operating profit (EBIT) 7.7 6.7 14.7% 11.7 11.4 2.7% 25
Slide 16: Kamux Finland — Revenue Declined, Profitability Improved in Q2 2020
Kamux Finland — Revenue Declined, Profitability Improved in Q2 2020 Revenue (EUR million) -7,5% • Revenue declined by -7.5% compared to the previous year and 140 120 was EUR 109.3 million (118.1). 100 • Gross margin increased to EUR 16.3 million (16.2), or 15.0% 80 60 (13.7%) of revenue. 40 • Operat
Slide 17: Kamux Sweden — Revenue Increased, Operating Profit at Previous Year's Level
Kamux Sweden — Revenue Increased, Operating Profit at Previous Year’s Level Revenue (EUR million) +2,4% 50 • Total revenue grew 2.4% compared to the previous 40 30 year and was EUR 39.0 million (38.0). 20 • Operating profit remained at previous year’s level and 10 was EUR 0.4 million (0.4) and 0.9%
Slide 18: Kamux Germany — Strong Revenue Growth in Q2 2020
Kamux Germany — Strong Revenue Growth in Q2 2020 Revenue (EUR million) 17,5 • Total revenue grew by 17.0% compared to the +17,0% 15,0 previous year and was EUR 12.5 million (10.7). 12,5 10,0 • Operating loss increased compared to the 7,5 previous year and was EUR -0.4 million (-0.3), 5,0 2,5 or -3.2
Slide 19: Net Working Capital and Inventories Decreased
Net Working Capital and Inventories Decreased Net Working Capital (EUR million) Inventories (EUR million) -14,0% 80 80 -22,4% 70 70 60 60 50 50 40 40 30 30 20 20 10 10 0 0 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4
Slide 20: Cash Flow from Operations Increased
Cash Flow from Operations Increased Cash Flow from Operations (EUR million) Change (EUR million) to Comparison Period 20 20 18 2 16 14 15 12 10 8 10 14 6 4 2 5 0 -2 1 2 -4 0 -6 Cash flow from Adjustments Changes in Financial items Cash flow from Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19
Slide 21: Investments especially in Knowledge Management Continued
Investments especially 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 busi
Slide 22: Outlook and Financial Targets
Outlook and Financial Targets
Slide 23: 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 24: Payment of Dividend: the Board decided on the second dividend instalment
Payment of Dividend: the Board of Directors decided on the payment of the second dividend instalment Paid dividends (EUR millions) • On April 21, 2020 the AGM approved Board of 10 Directors’ proposal for a dividend of EUR 0.23 9 per share payable in two instalments in April 8 (EUR 0.12) and in Octob
Slide 25: Summary
Summary
Slide 26: Summary Q2/2020
Summary Q2/2020 Revenue decreased by Adjusted operating profit -4.3% to EUR 150.5 increased by 1.6% to million (157.3) EUR 6.8 million (6.7) Gross profit increased by 2.4% We opened to EUR 20.6 million 5 new showrooms (20.1)
Slide 27: Questions?
WA “Questio 52 ‘ i . a ae |
Slide 28: 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