Kamux Oyj · OMXHEX:KAMUX
Kamux Oyj — Q2 2025 Earnings Presentation
29 slides from Kamux Oyj's earnings presentation, Aug 12, 2025
Slide 1: Q2 Adjusted Operating Profit Increased Despite Revenue Decline
Q2 ADJUSTED OPERATING PROFIT INCREASED DESPITE REVENUE DECLINE Q2 2025 Results CEO Tapio Pajuharju CFO Enel Sintonen Q2 2025 RESULTS 12.8.2025 1
Slide 2: Table of Contents
TABLE OF CONTENTS Q2 2025 RESULTS 1. Q2 in brief 2. Market position, Q2 Highlights, Changes in showroom network 3. Review by country, Strategy 4. Financial development 5. Long-term targets and outlook, Summary Q2 2025 RESULTS 12.8.2025 2
Slide 3: Profitability Moving Into Right Direction
PROFITABILITY MOVING INTO RIGHT DIRECTION Revenue decreased 18.7% to Adjusted operating profit Kamux Plus supported Customer satisfaction at a EUR 205.5 million (252.6), increased by 8.2% to EUR 2.9 revenue from integrated good level, Group-level NPS* following lower number of million (2.7), or 1.4%
Slide 4: Kamux Continues as #1 in Number of Cars Sold in Finland
KAMUX CONTINUES AS #1 IN NUMBER OF CARS SOLD IN FINLAND, BOTH IN Q2 AND H1 – MARKETS FLAT OR DECLINING Market size Kamux market Market development in Kamux position and In January–June 2025, new Market (2024) share* Q2 2025 development in Q2 2025 passenger car registrations in the EU dropped by -1.9
Slide 5: Strong Focus on Profitability Impacted Volumes and Revenue
STRONG FOCUS ON PROFITABILITY IMPACTED VOLUMES AND REVENUE, YET DELIVERED ON ADJUSTED OPERATING PROFIT 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 Q3 Q4 -3 2022 2023 2024 2
Slide 6: In Addition, Smaller Number of Showrooms Impacted Volumes
IN ADDITION, SMALLER NUMBER OF SHOWROOMS IMPACTED VOLUMES Sold cars (pcs) 20,000 19,364 -22.5% 18,484 1,567 18,000 16,952 17,215 17,037 1,515 16,354 16,137 1,223 1,414 1,684 16,000 15,324 3,529 1,322 14,681 1,428 2,774 14,890 14,694 1,300 14,000 3,678 1,134 3,493 3,046 1,209 1,344 13,208 2,770 2,763
Slide 7: Integrated Services Penetration Increasing
INTEGRATED SERVICES PENETRATION INCREASING Revenue from integrated services MEUR 18 10% +1.0% 16 15.3 15.4 9% 14.6 13.6 13.6 13.7 8% 14 13.4 13.2 13.0 13.0 6.9% 12.4 11.5 6.4% 6.3% 7% 12 5.8% 5.7% 5.5% 5.4% 6% 10 5.2% 5.2% 5.0% 4.9% 4.8% 5% 8 4% 6 3% 4 2% 2 1% 0 0% Q3/22 Q4/22 Q1/23 Q2/23 Q3/23 Q4/2
Slide 8: Changes in Showroom Network
CHANGES IN SHOWROOM NETWORK Finland Sweden Germany Total Savonlinna Q2/2025 - - -1 showroom closed Schwerin Q3/2025 to date - - showroom opened +1 in July 2025 Total showrooms 42 17 9 68 on August 11, 2025 New showroom to Network Announced be opened in assessment - openings/closures Jyväskylä in ong
Slide 9: Finland: Improvement in Profitability
FINLAND: IMPROVEMENT IN MEUR % PROFITABILITY 250 5 200 4 150 3 • Market growth driven by consumer-to-consumer sales, dealer sales slightly declining 100 2 • Competition and sourcing market continued to be tight, 50 1 importing cars challenged by low price level in Finland 0 0 • Strong focus on profi
Slide 10: Sweden: Moving Into Right Direction
SWEDEN: MOVING INTO MEUR % RIGHT DIRECTION 80 0 70 -1 60 50 -2 • Market declined, consumers continued to favor 40 -3 30 cheaper and older cars 20 -4 • Strong focus on profitability had a negative impact 10 on volumes and number of sold cars decreased 0 Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 -5 • Lower number
Slide 11: Germany: A Disappointing Quarter
GERMANY: A DISAPPOINTING MEUR % QUARTER 30 0 25 -1 20 -2 • Used car market was flat, consumer 15 -3 confidence remained low 10 -4 • Volumes declined due to lower number of 5 -5 showrooms (-2) and low stock at the beginning 0 -6 of the quarter Q2 24 Q3 24 Q4 24 Q1 25 Q2 25 • Gross profit decreased cl
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 Q2 2025 RESULTS 12.8.2025 12 SOURC
Slide 13: Our Vision: Become the #1 Used Car Retailer in Europe
OUR VISION BECOME THE #1 USED CAR RETAILER IN EUROPE Q2 2025 RESULTS 12.8.2025 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 Q2 2025 RESULTS 12.8.2025 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 Marcus Mezödi Joni Tuominen CEO CFO Managing Director, Sweden Managing Director, Germany Acting Managing Director, Finland Joanna Clark Aino Hökeberg Juha Kalliokoski Jarkko Lehtismäki Altti Väisänen Chief People Officer Chief Marketin
Slide 17: Financial Development
FINANCIAL DEVELOPMENT Q2 2025 RESULTS 12.8.2025 17
Slide 18: Clear Margin Improvement
CLEAR MARGIN IMPROVEMENT • Strong focus on healthy and profitable business impacted volumes that were down vs. Q2/2024 in all markets • Clear margin improvement in Finland and Sweden, and slight improvement in Germany • Systematic and more central approach on pricing and inventory Focus on managemen
Slide 19: Key Figures
KEY FIGURES (MEUR) 4-6/2025 4-6/2024 Change, % 1-6/2025 1-6/2024 Change, % 1–12/2024 Revenue 205.5 252.6 -18.7% 438.1 493.4 -11.2% 1,010.2 Gross profit 24.0 24.7 -2.9% 42.1 49.0 -14.2% 96.8 as percentage of revenue, % 11.7% 9.8% 9.6% 9.9% 9.6% Operating result (EBIT) 1.7 2.1 -17.0% -0.9 4.4 -120.5%
Slide 20: Improved Net Working Capital Driven by Inventory
IMPROVED NET WORKING CAPITAL DRIVEN BY INVENTORY Net Working Capital (EUR million) Inventories (EUR million) -12.0% 140 160 -8.2% 120 140 120 100 100 80 80 60 60 40 40 20 20 0 0 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q2/24 Q3/24 Q4/24 Q1/25 Q2/25 Q2 2025 RESULTS 12.8.2025 20
Slide 21: Operating Cash Flow Improved Significantly
OPERATING CASH FLOW IMPROVED SIGNIFICANTLY Components of Cash Flow from Operating Activities 1-6/2025 (EUR million) 11.4 -3.5 18 16 14.3 14 12 10 8 10.3 6 4 2 0 -2 -4 -3.9 Profit Adjustments Change in Financial items Cash flow from working capital and taxes operating activities 1-6/2025 Q2 2025 RESU
Slide 22: Financial Targets and Outlook
FINANCIAL TARGETS AND OUTLOOK Q2 2025 RESULTS 12.8.2025 22
Slide 23: 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 61,276 Revenue, MEUR 1,500 / year 969 1,002 1,010 955 Adj. EBIT margin, % 4% 1.8% 1.8% 1.1% 0.7% NON-FINANCIAL Q2/25 NPS(2 60 50 51 58 eNPS(3 40
Slide 24: Outlook for 2025
OUTLOOK FOR 2025 Kamux expects its adjusted operating profit for 2025 to improve from the previous year. Q2 2025 RESULTS 12.8.2025 24
Slide 25: Dividend From 2024
DIVIDEND FROM 2024 • The AGM authorized the Board of Directors to decide, at its discretion, on the distribution of dividend as follows: • A dividend of no more than EUR 0.07 per share may be distributed in one installment in the autumn 2025 at a time later determined separately by the Board of Dire
Slide 26: Profitability Moving Into Right Direction
PROFITABILITY MOVING INTO RIGHT DIRECTION Revenue decreased 18.7% to Adjusted operating profit Kamux Plus supported Customer satisfaction at a EUR 205.5 million (252.6), increased by 8.2% to EUR 2.9 revenue from integrated good level, Group-level NPS* following lower number of million (2.7), or 1.4%
Slide 27: Q&A
Q&A Q2 2025 RESULTS 12.8.2025 27
Slide 28: Thank You!
THANK YOU! Q2 2025 RESULTS 12.8.2025 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