Kamux Oyj · OMXHEX:KAMUX
Kamux Oyj — H1 2021 Earnings Presentation
27 slides from Kamux Oyj's earnings presentation, Aug 13, 2021
Slide 1: Kamux — Half-Year Results Presentation January—June 2021
Kamux — Half-Year Results Presentation January—June 2021 CEO Juha Kalliokoski CFO Marko Lehtonen 1 AUGUST 13, 2021 Q2 HALF-YEAR REPORT
Slide 2: Table of Contents
Table of Contents Half-Year Results Presentation Q2 2021 Strategy, Financial Outlook and Q2 in Brief Summary Development Financial Targets 2 AUGUST 13, 2021 Q2 HALF-YEAR REPORT
Slide 3: Kamux Vision
Kamux Vision #1 used car retailer in Europe 3 AUGUST 13, 2021 Q2 HALF-YEAR REPORT
Slide 4: Kamux Q2 2021 in Brief
Kamux Q2 2021 in Brief 1. 3. 5. Kamux's internationalization Revenue increased Adjusted operating profit was at progressed, and total revenue by 52.0% previous year’s level increased in Sweden by 92.0% to EUR 228.8 million EUR 6.8 million (6.8), to EUR 74.8 million (150.5) or 3.0% (4.6) of revenue a
Slide 5: The used car market grew in all countries
The used car market grew in all countries Market Kamux’s size market Market development Kamux’s position and Market (2020) share during Q2 development during Q2 Finland ~0.6 ~8.0% We estimate that Kamux maintained its million #1 the used car market market leader position. cars increased from the pre
Slide 6: Kamux Q2 2021 — Very Strong Revenue Growth
Kamux Q2 2021 — Very Strong Revenue Growth Revenue (EUR million) Adjusted Operating Profit (EUR million) +52,0% 240 13 220 12 200 11 180 10 160 9 -1,4% 8 140 7 120 6 100 5 80 4 60 3 40 2 20 1 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2018 2020 2018 2020 2019 2021 2019 2021 The revenue increased by 52.0% Adjusted
Slide 7: Number of Cars Sold Increased Q2 2021
Number of Cars Sold Increased Q2 2021 Sold Cars (pcs) +25,0% 18 000 17 285 16 760 16 242 16 000 15 409 15 733 14 395 14 227 14 000 13 441 13 413 12 564 12 187 12 000 11 220 12 751 11 513 10 000 11 456 12 108 12 213 10 888 10 937 8 000 10 615 10 291 10 328 9 688 9 066 6 000 4 000 3 757 3 143 2 876 3
Slide 8: Integrated Services Revenue Increased Q2 2021
Integrated Services Revenue Increased Q2 2021 Integrated Services Revenue MEUR % 6,0% 12 5,7% 6 5,4% 5,3% 10,2 5,0% 5,0% 5,1% 4,8% 9,4 9,9 10 4,7% 9,4 9,4 5 4,6% 8,9 8,6 8,6 4,5% 4,3% 7,8 7,9 4 8 7,1 6,8 6 3 4 2 2 1 0 0 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Finance
Slide 9: New Openings and Showrooms on August 13, 2021
New Openings and Showrooms on August 13, 2021 2021 FINLAND SWEDEN GERMANY TOTAL Q1 — — — — Q2 — Gothenburg — 1 Announced openings Oulu — — 1 2021 FINLAND SWEDEN GERMANY TOTAL Total showrooms August 13, 50 21 8 79 2021 9 AUGUST 13, 2021 Q2 HALF-YEAR REPORT
Slide 10: Financial Development
Financial Development 10 AUGUST 13, 2021 Q2 HALF-YEAR REPORT
Slide 11: A Significant Investment in Growth in the Second Quarter
A Significant Investment in Growth in the Second Quarter • In line with the growth strategy, inventory levels were increased in preparation for the summer season • The strategic real estate investment in Oulu, including a showroom and a processing centre, is Strong balance sheet proceeding according
Slide 12: Purchasing of Cars and Partner-Related Process in Germany
Purchasing of Cars and Partner-Related Process in Germany • Investments in purchasing in order to accelerate growth and to ensure sufficient inventory levels for the summer season were succesful • After a well-functioning initial cooperation, one new procurement partner of Kamux’s German subsidiary
Slide 13: Key Figures
Key Figures (MEUR) 4-6/2021 4-6/2020 Change, % 1-6/2021 1-6/2020 Change, % 1-12/2020 Revenue 228.8 150.5 52.0% 438.6 317.9 38.0% 724.1 Gross profit 20.5 20.6 -0.5% 43.7 38.9 12.4% 91.5 as percentage of revenue, % 9.0% 13.7% 10.0% 12.2% 12.6% Operating profit (EBIT) 2.8 7.7 -63.3% 8.5 11.7 -27.0% 31.
Slide 14: Kamux Finland — Very Strong Revenue Growth Q2 2021
Kamux Finland — Very Strong Revenue Growth Q2 2021 Revenue (EUR million) +30,2% 150 125 100 75 • Revenue increased by 30.2% compared to 50 the previous year and was EUR 142.3 25 million (109.3). 0 Q1 Q2 Q3 Q4 • Gross margin increased to EUR 18.0 million (16.3), or 12.7% (15.0%) of revenue. 2018 2020
Slide 15: Kamux Sweden — Very Strong Revenue Growth Q2 2021
Kamux Sweden — Very Strong Revenue Growth Q2 2021 Revenue (EUR million) +92,0% 80 60 • Total revenue increased by 92.0% compared 40 to the previous year and was EUR 74.8 million (39.0). 20 • Gross margin increased to EUR 4.9 million 0 Q1 Q2 Q3 Q4 (3.3), or 6.5 % (8.4 %) of revenue. 2018 2020 • Opera
Slide 16: Kamux Germany — Very Strong Revenue Growth, Operating Loss Increased
Kamux Germany — Very Strong Revenue Growth, Due to the Exeptional Cost the Operating Loss Increased Q2 2021 Revenue (EUR million) +113,2% 30 • Total revenue increased by 113.2% compared 25 to the previous year and was EUR 26.7 20 million (12.5). 15 10 • Gross margin was EUR -2.4 million (1.0), or 5
Slide 17: Inventory Levels Were Increased towards the Summer Season
In Line with the Strategy, Inventory Levels Were Increased towards the Summer Season Net Working Capital (EUR million) Inventories (EUR million) 100 +67,1% 130 +80,3% 90 120 110 80 100 70 90 60 80 70 50 60 40 50 30 40 30 20 20 10 10 0 0 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 20 Q1 21 Q2 21 Q1
Slide 18: Despite Increased Purchases, Net Cash Flow was at a Good Level
Despite Increased Purchases, Net Cash Flow was at a Good Level Cash Flow from Operations (EUR million) Change (EUR million) to Comparison Period 20 20 18 16 17 14 12 15 5 10 2 8 6 6 4 10 6 2 0 2 -2 -4 5 -6 -8 -10 -12 0 -14 Cash flow Profit Adjustments Changes Financial Cash flow Q1 19 Q2 19 Q3 19 Q4
Slide 19: Investments Focused on Knowledge Management and Processing Centre in Oulu
Investments Focused on Knowledge Management and on Construction of a Processing Centre in Oulu Investments (EUR million) • In line with our strategy, we have 2,5 systematically invested in growth. 2,0 • Kamux seeks to gain a significant 1,5 1,0 competitive advantage by investing in 0,5 leading with
Slide 20: Strategy, Outlook and Financial Targets
Strategy, Outlook and Financial Targets 20 AUGUST 13, 2021 Q2 HALF-YEAR REPORT
Slide 21: Strategy Implementation
Strategy Implementation Omnichannel customer Efficient processes and Utilizing data and leading Developing capabilities and experience and services scalability with knowledge continuous learning • Acquiring experience from • Gothenburg mega store • Kamux Management • Leadership and Kamux Huoleton, m
Slide 22: Financial targets 2021–2023
Financial targets 2021–2023 • Revenue growth of over 20% annually Indicator Target Actual 1-6/2021 (from Feb 26, 2021) • Annually increasing adjusted EBIT and Revenue growth Over 20% 38.0% adjusted EBIT margin over 3.5% annually • Return on equity (ROE) over 25% Adjusted Annually EUR 12.4 million •
Slide 23: Outlook for 2021
Outlook for 2021 In 2021, Kamux expects its revenue to reach EUR 800–850 million and adjusted operating profit to increase from the previous year
Slide 24: Summary
Summary
Slide 25: Summary Q2 2021
Summary Q2 2021 1. 3. 5. Kamux's internationalization Revenue increased Adjusted operating profit was at progressed, and total revenue by 52.0% previous year’s level increased in Sweden by 92.0% to EUR 228.8 million EUR 6.8 million (6.8), to EUR 74.8 million (150.5) or 3.0% (4.6) of revenue and in G
Slide 26: Thank you!
KAMUX 6-3 Thank you!
Slide 27: Vastuuvapauslauseke
Vastuuvapauslauseke It should be noted that Kamux and its Since these statements are based on business are exposed to various risks current plans, estimates and and uncertainties, and certain projections, they involve risks and statements herein which are not uncertainties that may cause actual hist