Slide 1: Kamux – Quarterly Results Presentation January–March 2018
Kamux – Quarterly Results Presentation January―March 2018 May 24, 2018 CEO Juha Kalliokoski CFO Tapio Arimo
Slide 2: Table of Contents
Table of Contents Quarterly Results Presentation Q1/2018 Outlook and Financial Q1/2018 in Brief Financial Development Targets Summary
Slide 3: Kamux Vision
Kamux Vision #1 used car retailer in Europe
Slide 4: Kamux Q1 2018 in Brief
Kamux Q1 2018 in Brief 1. 3. 5. Revenue 11,379 (9,698) Internationalization proceeded as planned increased to EUR used cars were sold and revenue increased in Sweden by 128.7 million 51.2% to EUR 24.1 million and in Germany (109.3) by 21.2% to EUR 6.5 million Adjusted operating We opened a new car s
Slide 5: Operating Environment
Operating Environment Market Market size Kamux’s market Market development during the Kamux’s position and development (2017) share review period during the review period Finland ~0.5 million ~7% The Finnish market situation was Kamux maintained its market leader cars #1 relatively unchanged, we pos
Slide 6: Kamux in Q1 2018
Kamux in Q1 2018 Revenue (EUR million) Adjusted Operating Profit (EUR million) +17.8% 140 7 120 6 3.5% 100 5 80 4 60 3 40 2 20 1 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2016 2017 2018 2016 2017 2018 • Revenue growth increased in Q1 2018 due to the strong • Adjusted operating profit grew in Q1 2018 especially du
Slide 7: Number of Cars Sold Grew by 17.3%
Number of Cars Sold Grew by 17.3% Sold Cars (pcs) +17.3% 12,000 11,379 11,083 10,294 9,833 9,698 9,882 10,000 9,258 8,523 8,676 8,000 9,337 9,246 6,000 8,522 8,452 8,255 8,325 7,933 7,419 7,571 4,000 2,000 1,346 1,290 1,547 1,107 1,162 1,025 1,123 933 896 171 218 219 209 418 434 491 482 495 0 Q1 16
Slide 8: Integrated Services Revenue Continued to Grow
Integrated Services Revenue Continued to Grow MEUR Integrated Services Revenue % 12 6 5.3% 5.3% 5.0% 5.1% 10 4.7% 4.7% 4.7% 4.7% 5 4.3% 8 4 6.1 6.1 6 5.6 5.8 3 5.2 5.4 4.9 5.0 4.2 4 2 2 1 0 0 Finance fees and insurance commissions Sales of Kamux Plus Integrates services % of Revenue
Slide 9: Financial Development
Financial Development Tapio Arimo CFO
Slide 10: Key Figures
Key Figures 1−3/ 1−3/ 1−12/ (MEUR) Change, % 2018 2017 2017 Revenue 128.7 109.3 17.8% 454.9 Gross profit 14.6 12.5 16.5% 53.8 as percentage of revenue, % 11.3% 11.5% 11.8% Operating profit (EBIT) 4.8 3.4 39.6% 16.2 as percentage of revenue, % 3.7% 3.1% 3.6% Adjusted operating profit 4.8 4.6 3.5% 18.
Slide 11: Kamux's Revenue
Kamux’s Revenue 140 17.8% • The number of used cars sold by Kamux in the first quarter grew by 17.3% and totaled 120 11,379 (9,698) 100 • Kamux’s revenue grew by 17.8% in Q1 2018 80 • The increase in revenue was driven by new 60 showrooms and strong like-for-like revenue growth especially in Sweden
Slide 12: Kamux Finland Growth Continued to Accelerate in Q1 18
Kamux Finland Growth Continued to Accelerate in Q1 18 Revenue (EUR million) 120 100 80 • Revenue grew by 13.6% compared to the 60 previous year and was EUR 103.5 million 40 (91.1) 20 0 • Operating profit was at the same level as in Q1 Q2 Q3 Q4 the previous year at EUR 6.0 million (6,0) 2016 2017 201
Slide 13: Kamux Sweden Very Strong Revenue Growth Continued in Q1 18
Kamux Sweden Very Strong Revenue Growth Continued in Q1 18 Revenue (EUR million) 25 20 15 • Revenue grew by 51.2% compared to the 10 previous year and was EUR 24.1 million 5 (16.0) 0 Q1 Q2 Q3 Q4 • Operating profit turned positive and was 2016 2017 2018 EUR 0.1 million (-0,5) and 0.5% (-3.2%) of reve
Slide 14: Kamux Germany Establishing a Presence in the Hamburg Region
Kamux Germany Establishing a Presence in the Hamburg Region Continued in Q1 18 Revenue (EUR million) 8 6 • Revenue grew by 21.2% compared to the 4 previous year and was EUR 6.5 million (5.3) 2 • Operating loss increased slightly and was 0 Q1 Q2 Q3 Q4 EUR -0.5 million (-0.4) 2016 2017 2018 • Developm
Slide 15: Net Working Capital and Inventories Grew
Net Working Capital and Inventories Grew Net Working Capital (EUR million) Inventories (EUR million) 60 60 17.4% 24.7% 50 50 40 40 30 30 20 20 10 10 0 0 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18
Slide 16: Investments into Future Growth Continue According to Strategy
Investments into Future Growth Continue According to Strategy Investments (EUR million) 1,5 In line with our strategy, we have systematically 1,0 invested in our future • Key personnel: management and personnel 0,5 combined with an agile organizational model 0,0 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q
Slide 17: Outlook and Financial Targets
Outlook and Financial Targets
Slide 18: Outlook and Financial Targets
Outlook and Financial Targets € € € Revenue of at least EUR EBIT margin of 4–5% in Distribute dividends of Kamux does not 700 million in 2019 2019 and at least 5% in at least 30% of net publish a short-term the long term profits(1) outlook Revenue Profitability Dividend Policy Outlook 1) When decidi
Slide 19: Dividend Development
Dividend Development Paid dividends (EUR millions) 115.7% 5 4 • Dividend paid for the financial year 3 2017 was EUR 0.12 per share 2 • Dividend was 40% of the net profit (20%) 1 0 2016 2017 2018
Slide 20: Summary
Summary
Slide 21: Summary Q1/2018
Summary Q1/2018 Revenue grew to EUR Profitability improved – 128.7 million adjusted operating profit (109.3) EUR 4.8 million (4.6) Like-for-like showroom revenue Internationalization continued strongly growth 8.8% (-6.9)
Slide 22: Questions?
Questions?
Slide 23: 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