Kamux Oyj · OMXHEX:KAMUX
Kamux Oyj — Q3 2017 Earnings Presentation
16 slides from Kamux Oyj's earnings presentation, Nov 23, 2017
Slide 1: Kamux Quarterly Results Presentation January-September 2017
Kamux Quarterly Results Presentation January―September 2017 November 23, 2017
Slide 2: Kamux's Growth Accelerated from First Half
Kamux’s Growth Accelerated from First Half 1. Growth accelerated — in accordance with our strategy, we continue our journey to become the leading European retail chain specializing in used cars • Revenue EUR 122.1 million (106,7), growth 14.5 %, operating profit EUR 6.1 million (5.5), growth 11.3 %,
Slide 3: Financial Targets
Financial Targets Revenue • Revenue of at least EUR 700 million in 2019 Profitability • EBIT margin of 4-5 % in 2019 and at least 5 % in the long term • Distribute dividends of at least 30 % of net profits • When deciding on the distribution of dividends, The Board of Directors will, in the best Div
Slide 4: Kamux Vision: #1 used car retailer in Europe
Kamux Vision #1 used car retailer in Europe
Slide 5: Key Figures
Key Figures 7−9/ 7−9/ 1−9/ 1−9/ 1−12/ (MEUR) Change, % Change, % 2017 2016 2017 2016 2016 Revenue 122.1 106.7 14.5 % 340.6 306.9 11.0 % 404.8 Gross profit 15.3 13.5 13.7 % 40.8 37.8 8.0 % 49.2 as percentage of revenue, % 12.5 % 12.6 % 12.0 % 12.3 % 12.2 % Operating profit (EBIT) 6.1 5.5 11.3 % 13.0
Slide 6: Revenue Increased in July-September 2017
Revenue Increased in July-September 2017 7−9/ 7−9/ 1−12/ (MEUR) 2017 2016 2016 • Used cars sold by Kamux in the third quarter grew by 12.7 % Sales of used cars 116.4 101.6 385.5 and totaled 11 083 (9 833) Financing fees and 4.9 4.1 15.8 • The increase in revenue was driven mainly by opening of Insur
Slide 7: Sweden Returned to Growth and Delivered a Positive Quarter
Sweden Returned to Growth and Delivered a Positive Quarter +18.9% 60.9 • Sweden has returned to growth • Growth of 15.8 % in number of cars sold and 17.2 20.5 18.9 % in revenue Revenue Q3 16 Q3 17 FY 16 • Profitability improved clearly, operating profit % rose from zero to 2.1 % during 0.4 the quart
Slide 8: German Strong Growth Continues
German Strong Growth Continues +105.8% 10.8 • Kamux’s growth continues in one of the biggest used car markets in Europe 5.9 • Growth of 124.2 % in number of cars sold 2.9 Revenue and 105.8 % in revenue Q3 16 Q3 17 FY 16 • Oliver Michels appointed country Operating Profit director -0.1 -0.3 • Starts
Slide 9: In Finland Growth Accelerated and Market Improved Slightly from First Half
In Finland Growth Accelerated and Market Improved Slightly from First Half 343.2 +11.1% • In Finland Kamux achieved satisfactory results given market conditions 89.3 99.2 Revenue • Inventories in the industry declined somewhat, but Q3 16 Q3 17 FY 16 were still at above average levels at the end of S
Slide 10: Number of Cars Sold Hit New Record
Number of Cars Sold Hit New Record Pcs +12.7% Finland 12,000 11,083 Sweden 9,833 9,698 9,882 Germany 10,000 9,258 8,523 8,676 8,000 9,246 6,000 8,325 7,933 8,452 8,255 7,419 7,571 4,000 • Car sales grew by 12.7 % 2,000 compared to a year ago. 1,123 1,346 933 171 1,107 218 1,162 219 896 209 1,025 418
Slide 11: Integrated Services Revenue Rose to a New Record
Integrated Services Revenue Rose to a New Record MEUR 5.8 5.4 5.6 Finance fees and insurance commissions 5.2 5.0 Sales of Kamux Plus 4.9 Integrated Services % of Revenue 4.2 5.3% 5.0% 5.1% 4.7% 4.7% 4.7% 4.3% Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17
Slide 12: Net Working Capital and Inventories Grew Slightly
Net Working Capital and Inventories Grew Slightly 47.2 49.0 • NWC grew by 1.8 MEUR 36.5 36.9 43.3 41.4 31.3 in Q3 2017 Net Working Capital (MEUR) Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17 52.6 54.6 47.9 48.1 40.2 41.6 42.9 Inventories (MEUR) Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 Q3 17
Slide 13: Investments into Future Growth Continue According to Strategy
Investments into Future Growth Continue According to Strategy 2.1 In line with our strategy we have systematically invested to our future • Key personnel: management and -8.0% personnel combined with an agile Investments 0.3 0.2 organizational model Q3 16 Q3 17 FY 16 • Internationalization: Necessar
Slide 14: Kamux Q3 2017 Summary
Kamux Q3 2017 Summary 1. Kamux’s growth accelerated from first half • Number of sold cars 11,083 (9,833), revenue grew 14.5 % and was EUR 122.1 million (106.7), operating profit grew 11.3 % and was EUR 6.1 million (5.5) 2. International business continued its strong performance • Sweden’s operating
Slide 15: Questions? Thank you!
Questions? Thank you!
Slide 16: 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 profitabil