Slide 1: Kamux – Quarterly Results Presentation
Kamux – Quarterly Results Presentation January―September 2018 November 22, 2018 CEO Juha Kalliokoski CFO Tapio Arimo
Slide 2: Table of Contents
Table of Contents Quarterly Results Presentation 2018 Outlook and Financial Q3/2018 in Brief Financial Development Targets Summary
Slide 3: Kamux Vision: #1 used car retailer in Europe
Kamux Vision #1 used car retailer in Europe
Slide 4: Kamux Q3 2018 in Brief
Kamux Q3 2018 in Brief 1. 3. 5. Revenue Adjusted operating profit Internationalization proceeded as increased to EUR planned and revenue increased in Sweden increased to EUR 6.6 140.0 million million (6.2) by 34.5% to EUR 27.5 million and in (122.1) Germany by 42.2% to EUR 8.3 million Gross profit i
Slide 5: Kamux's Market Position Strengthened in a Challenging Operating Environment
Kamux’s Market Position Strengthened in a Challenging Operating Environment Market Market Kamux’s market Market development during Q3 Kamux’s position and development size (2017) share during Q3 Finland ~0.5 ~7.0% The Finnish market was Kamux maintained its market million #1 impacted by the change t
Slide 6: Kamux in Q3 2018 — Profitable Growth Continued
Kamux in Q3 2018 — Profitable Growth Continued Revenue (EUR million) Adjusted Operating Profit (EUR million) 7.2% 160 14.6% 7 140 6 120 5 100 4 80 3 60 2 40 20 1 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2016 2017 2018 2016 2017 2018 • Revenue growth in Q3 2018 was on a good level • Adjusted operating profit grew
Slide 7: Number of Cars Sold Grew by 13.4%
Number of Cars Sold Grew by 13.4% Sold Cars (pcs) 14 000 13.4% 12,564 12 000 11,379 11,433 11,083 10,294 9,833 9,698 9,882 10 000 9,258 8,523 8,676 8 000 10 328 9 246 9 337 9 486 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 1 448 1 620 1 107 1 162 1 025 1 123 933 218
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% 5.0% 4.7% 4.7% 4.7% 4.7% 4.8% 10 5 4.3% 8 4 6.8 6.1 6.4 6.1 6 5.6 5.8 3 5.2 5.4 4.9 5.0 4.2 4 2 2 1 0 0 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Finance fees and insuran
Slide 9: Financial Development
Financial Development Tapio Arimo CFO
Slide 10: Key Figures
Key Figures 7-9/ 7-9/ 1-9/ 1-9/ 1−12/ (MEUR) Change, % Change, % 2018 2017 2018 2017 2017 Revenue 140.0 122.1 14.6% 396.7 340.6 16.5% 454.9 Gross profit 18.0 15.3 17.4% 48.9 40.8 19.8% 53.8 as percentage of revenue, % 12.8% 12.5% 12.3% 12.0% 11.8% Operating profit (EBIT) 6.6 6.1 8.3% 15.0 13.0 15.5%
Slide 11: Kamux's Revenue Grew
Kamux’s Revenue Grew 160 • The number of used cars sold by Kamux in 140 14.6% the third quarter grew by 13.4% and totaled 12,564 cars (11,083). 120 • Kamux’s revenue grew by 14.6% Q3 2018. 100 80 • The increase in revenue was driven by new showrooms and like-for-like revenue growth. 60 • Like-for-li
Slide 12: Kamux Finland — Stable Growth
Kamux Finland — Stable Growth Revenue (EUR million) 11.6% 120 • Revenue grew by 11.6% compared to the 100 80 previous year and was EUR 110.7 million 60 (99.2). 40 20 0 • Gross margin increased to EUR 14.9 million Q1 Q2 Q3 Q4 (12.9) and 13.5% (13.0%) of revenue. 2016 2017 2018 Operating profit increa
Slide 13: Kamux Sweden — Very Strong Revenue Growth Continued
Kamux Sweden — Very Strong Revenue Growth Continued Revenue (EUR million) 34.5% 30 • Revenue grew by 34.5% compared to the 25 20 previous year and was EUR 27.5 million 15 (20.5). 10 5 0 • Operating profit was EUR 0.5 million (0.4) Q1 Q2 Q3 Q4 and 1.9% (2.1%) of revenue. 2016 2017 2018 Operating Prof
Slide 14: Kamux Germany — Revenue Growth Accelerated
Kamux Germany — Revenue Growth Accelerated Revenue (EUR million) 42.2% 10 • Revenue grew by 42.2% compared to the 8 6 previous year and was EUR 8.3 million (5.9). 4 2 • Operating loss was EUR -0.3 million (-0.3). 0 Q1 Q2 Q3 Q4 2016 2017 2018 • Development of Kamux’s concept and processes has proceed
Slide 15: Net Working Capital and Inventories Grew
Net Working Capital and Inventories Grew Net Working Capital (EUR million) Inventories (EUR million) 60 70 21.6% 8.5% 60 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 Q2 18 Q3 18 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18
Slide 16: Cash Flow from Operations was Strong in Q3
Cash Flow from Operations was Strong in Q3 Cash Flow from Operations (EUR million) 8 6 4 2 0 -2 -4 -6 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 Cash Flow from Operations Special Items Net Working Capital Change Cash Flow from Operations excluding Special Items and Net Working
Slide 17: Investments in Growth Continued According to Strategy
Investments in Growth Continued According to Strategy Investments (EUR million) 1,5 In line with our strategy, we have 1,0 systematically invested in our future 0,5 • Personnel: recruitment and training 0,0 Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 Q4 17 Q1 18 Q2 18 Q3 18 • Internationalization: the
Slide 18: Outlook and Financial Targets
Outlook and Financial Targets
Slide 19: 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 20: Summary
Summary
Slide 21: Summary Q3/2018
Summary Q3/2018 Revenue grew to Profitability improved – EUR 140.0 adjusted operating profit million (122.1) EUR 6.6 million (6.2) Like-for-like showroom revenue Internationalization continued strongly growth 4.2% (-3.2)
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