Kamux Oyj · OMXHEX:KAMUX
Kamux Oyj — Danske Small & Mid Cap Seminar March 2025
23 slides from Kamux Oyj's conference presentation, Mar 13, 2025
Slide 1: Kamux – A Preowned Car Retailer
KAMUX – A PREOWNED CAR RETAILER Tapio Pajuharju, CEO Danske Small & Mid Cap Seminar Helsinki, March 13, 2025 DANSKE SMALL & MID CAP SEMINAR MARCH 2025 1
Slide 2: Kamux is a retail chain specialized in preowned cars and related integrated services
KAMUX IS A RETAIL CHAIN SPECIALIZED IN PREOWNED CARS AND RELATED INTEGRATED SERVICES Revenue by country Cars sold by country Average number of employees A total of 69 showrooms* in 2024 in 2024 in 2024 in three operating countries 103.4 5,836 79 44 showrooms 10,618 In total In total In total 252.7 1
Slide 3: From entrepreneurship to a public company
FROM ENTREPRENEURSHIP TO A PUBLIC COMPANY • Juha Kalliokoski founded Kamux in 2003 in Hämeenlinna, Finland. He was CEO of the company until spring 2023. • Initially his goal was to support his family by selling cars. • For the first three years, Kamux had just one showroom in Hämeenlinna. • Kamux's
Slide 4: Kamux has sold almost 600,000 used cars
KAMUX HAS SOLD ALMOST 600,000 USED CARS Revenue (M€) Cars sold (1,000) Showrooms 1,010 1,002 68.5 68.3 78 79 78 78 937 969 66.5 62.9 71 69 60.7 55.4 61 724 46,6 53 659 41.0 47 36.3 41 528 455 28.5 34 405 27 310 20.3 20 14.2 16 215 10.5 13 152 5.0 6.9 7 9 112 53 74 1.8 2.6 3.6 19 27 38 FIN SWE GER FI
Slide 5: Very difficult Q4/2024, challenges in all markets
VERY DIFFICULT Q4/2024, CHALLENGES IN ALL MARKETS • Revenue close to Q4/23 close to the last year's Q4, but profitability significantly hit by squeezed margins in all markets • Gross profit EUR 1,358 per car, –15% compared to Q4/2023 Fourth quarter • End of Q4/2024 inventory value approx. 20% higher
Slide 6: Key figures
KEY FIGURES (MEUR) 10-12/2024 10-12/2023 Change, % 1-12/2024 1-12/2023 Change, % Revenue 236.7 241.6 -2.0% 1,010.2 1,002.1 0.8% Gross profit 20.2 26.1 -22.6% 96.8 102.5 -5.6% as percentage of revenue, % 8.5% 10.8% 9.6% 10.2% Operating profit (EBIT) -0.7 4.5 -114.4% 7.9 15.8 -50.0% as percentage of r
Slide 7: Our long-term targets
OUR LONG-TERM TARGETS LONG-TERM TARGET FY 2021 FY 2022 FY 2023 LTM(1 FINANCIAL Sold cars, pcs 100,000 / year 68,429 62,922 68,257 66,548 Revenue, MEUR 1,500 / year 937 969 1,002 1,010 Adj. EBIT margin, % 4% 3.3% 1.8% 1.8% 1.1% NON-FINANCIAL Q4/24 NPS(2 60 50 55 eNPS(3 40 27 16 33 7 DANSKE SMALL & MI
Slide 8: Become the #1 used car retailer in Europe
OUR VISION BECOME THE #1 USED CAR RETAILER IN EUROPE DANSKE SMALL & MID CAP SEMINAR MARCH 2025 8
Slide 9: M&A to accelerate growth
CUSTOMER PROMISE OPERATIONAL EFFICIENCY Become the most friendly, Industrialize and convenient and trustworthy standardize operations used car retailer across value chain Customer-centric Global and local purchasing M&A TO ACCELERATE GROWTH offering for consumers teams to utilize power of and profes
Slide 10: 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 in Europe in 2024 Home country countries 2024, pcs Aures Holding Czechia 3 108,661 Aramis France 6 86,166 Autohero Germany 9 74,438 Kamux Finland 3 66,548 Source: Company quarterly and annu
Slide 11: The European used car market is huge and very fragmented
THE EUROPEAN USED CAR MARKET IS HUGE AND VERY FRAGMENTED Used cars sold >35Mn annually, <0.4 Mn pcs DANSKE SMALL & MID CAP SEMINAR MARCH 2025 11
Slide 12: Market consolidation in Finland and Sweden has continued
MARKET CONSOLIDATION IN FINLAND AND SWEDEN HAS CONTINUED Top 5 players’ market share of all used car Top 5 players’ market share of 7-120 months old sales (companies & C2C) in Finland used car sales (companies & C2C) in Sweden 35% 30% SE: Top 5 market 25% 25% share from all sold cars 21% 20% 16% 15%
Slide 13: Used car market has experienced steady growth since 2022…
USED CAR MARKET HAS EXPERIENCED STEADY GROWTH SINCE 2022… Used passenger car sales volume (pcs) 1,600,000 8,000,000 1,400,000 7,000,000 1,200,000 6,000,000 1,000,000 5,000,000 FI & SE 800,000 4,000,000 GE 600,000 3,000,000 400,000 2,000,000 200,000 1,000,000 0 0 2009 2010 2011 2012 2013 2014 2015 20
Slide 14: …but there has been volatility in prices
…BUT THERE HAS BEEN VOLATILITY IN PRICES Finland especially has been the outlier Finland Sweden Germany 160 150 140 130 120 110 100 90 80 1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 1 3 5 7 9 11 2017 2018 2019 2020 2021 2022 2023 2024 Harmonized index o
Slide 15: New car sales in core markets has not returned to pre-pandemic levels
NEW CAR SALES IN CORE MARKETS HAS NOT RETURNED TO PRE-PANDEMIC LEVELS New passenger car sales volume (pcs) 400,000 4,000,000 350,000 3,500,000 300,000 3,000,000 Fin and Swe [pcs] 250,000 2,500,000 Ger [pcs] 200,000 2,000,000 150,000 1,500,000 100,000 1,000,000 50,000 500,000 0 0 2009 2010 2011 2012
Slide 16: Share of electric powertrains increasing but traditional still majority in used cars
SHARE OF ELECTRIC POWERTRAINS* INCREASING BUT TRADITIONAL STILL MAJORITY IN USED CARS New car sales Used car sales** 70% 70% 60% 60% Incentives & Taxation 50% as key drivers 50% 40% 40% 30% 30% 20% 20% 10% 10% 0% 0% 2010 2011 2012 2013 2014 2015 2016 2017 2018 2019 2020 2021 2022 2023 2024 2010 2011
Slide 17: Diverse demand and tight supply – fast depreciating BEV and PHEV prices
DIVERSE DEMAND AND TIGHT SUPPLY – AND FAST DEPRECIATING BEV AND PHEV PRICES FURTHER INCREASE THE IMPORTANCE OF CUSTOMER EXPERIENCE AND OFFERING SOURCING INVENTORY MANAGEMENT PRICING Source: INDICATA_Market_Watch_60_EN (2).pdf DANSKE SMALL & MID CAP SEMINAR MARCH 2025 17
Slide 18: The pillars of our strategy
THE 10 PILLARS OF OUR STRATEGY Customer service Bring customer to the center of attention for all activities, with tailored services for consumers and professionals, and aligned KPIs to track success Customer promise Introduce non-negotiable fair prices in all channels to make car purchasing as hass
Slide 19: The cornerstones of our concept
THE CORNERSTONES OF OUR CONCEPT Friendly customer Clear customer Attractive Omnichannel Consistent service and journey and offering and approach brand communication store layout its presentation communication Drives sales, profitability and customer satisfaction DANSKE SMALL & MID CAP SEMINAR MARCH
Slide 20: Progress with strategy implementation
PROGRESS WITH STRATEGY IMPLEMENTATION Status Customer service Customer promise Real price & price image Become the most friendly, convenient and trustworthy Quality & transparency used car retailer Omnichannel experience Add-on services Purchasing Operational efficiency = progressing as planned Proc
Slide 21: Q&A
Q&A DANSKE SMALL & MID CAP SEMINAR MARCH 2025 21
Slide 22: Thank you!
THANK YOU!
Slide 23: 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