Kamux Oyj · OMXHEX:KAMUX
Kamux Oyj — H1 2017 Earnings Presentation
18 slides from Kamux Oyj's earnings presentation, Aug 24, 2017
Slide 1: Kamux Half Year Presentation January–June 2017
Kamux Half Year Presentation January―June 2017 August 24, 2017
Slide 2: Kamux's Profitable Growth Continued in Line with Strategy
Kamux’s Profitable Growth Continued in Line with Strategy 1. Strategy to become Europe’s No.1 used car retailer is working • Yet another quarter on our profitable growth journey – record revenues in integrated services business • 4 new stores were officially opened during H1 2017 • Successful IPO wi
Slide 3: Financial Targets
Financial Targets Our mid-term financial targets remain unchanged 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 dividen
Slide 4: Kamux Vision: #1 used car retailer in Europe
Kamux Vision #1 used car retailer in Europe
Slide 5: Retail Concept & Key Strategic goals
Retail Concept & Key Strategic goals Omni-channel presence Key Strategic goals Cornerstones of Sale of integrated services Cornerstones of customer proposal 5.0 % of revenue in H1 2017 operational model • GROWTH – Continue strong organic growth by Attractive Professional increasing market share in s
Slide 6: Kamux is a Fast Growing Used Car Retailer
Kamux is a Fast Growing Used Car Retailer Kamux Strong, profitable organic growth Omni-channel presence Kamux showroom 2003 established 400 405 30 51 showrooms Sweden Finland 350 CAGR 25 83% of revenue 12% of revenue Over 150,000 used cars sold +39% 310 9 showrooms 40 showrooms 300 Used cars and int
Slide 7: Q2 and H1 2017 in Brief
Q2 and H1 2017 in Brief 9.0% Q2 in brief 200.3 218.4 • The number of cars sold by Kamux increased by 6.7 % 5.7% to 9,882 cars (4−6/2016: 9,258) 103.3 109.2 • Gross profit increased by 4.4 % to EUR 13.0 million (12.4) or 11.9 % (12.0) of revenue Revenue (MEUR) • Operating profit (EBIT) decreased by 1
Slide 8: Sweden Turned Positive in Q2
Sweden Turned Positive in Q2 60.9 +1.5% 16.6 16.9 Revenue • Focused on Kamux Way Q2 16 Q2 17 FY 16 0.0 • Actions starting to bear fruit Operating Profit -0.2 -1.5 • We expect Sweden to return Q2 16 Q2 17 FY 16 to stronger growth 0.2 • Örebro expansion in June Operating Profit % -1.1 -2.4 • Jönköping
Slide 9: Integrated Services in Sweden on Right Path
Integrated Services in Sweden on Right Path 100 Insurance • Financing penetration 49 % in Q2 90 Finance 80 Kamux Plus • Insurance penetration over 90 % 70 (2-weeks trial) 60 50 • Target to sell full insurances in the 40 future 30 20 • Kamux Plus penetration 28 % in Q2 10 Q1 16 Q2 16 Q3 16 Q4 16 Q1 1
Slide 10: Very Strong Growth in Germany
Very Strong Growth in Germany 10.8 • Kamux concept works in Germany – +117.6% growing fast in one of the largest used 5.8 car markets in Europe 2.7 Revenue • Focus on Kamux way of working Q2 16 Q2 17 FY 16 Operating Profit -0.1 • Nedderfeld opened Q1 – key driver for -0.5 growth in Q2, yet still in
Slide 11: Finland Grew in a Challenging Market
Finland Grew in a Challenging Market 343.2 • Kamux Finland continued to show satisfactory +4.0% performance in a challenging market – 86.3 89.8 opened 2 new stores in Q2 and 1 new store Revenue and 3 expansions in the pipeline for Q3 Q2 16 Q2 17 FY 16 • Road traffic report published by the Ministry
Slide 12: Investing into Future Growth - Group Functions
Investing into Future Growth - Group Functions 4.3 • According to our strategy we +16.0% have systematically invested 1.5 1.7 into our future growth: Group Functions • Key personnel Q2 16 Q2 17 FY 16 • Internationalization 1.5 • Digital activities 1.4 1.1 • IPO project Group Functions % of Revenue Q
Slide 13: Car Unit Sales Grew
Car Unit Sales Grew 6.7% Pcs Finland 9 833 9 698 9 882 10 000 9 258 Sweden 9 000 8 523 8 676 Germany 8 000 7 000 6 000 8 325 8 452 8 255 7 933 5 000 7 419 7 571 4 000 3 000 2 000 1 000 1 107 1 162 1 025 1 123 • Car sales grew by 6.7 % in Q2 year on 933 171 896 209 418 0 218 219 434 year. Relative gr
Slide 14: Integrated Services Revenue Continued to Grow
Integrated Services Revenue Continued to Grow MEUR 5.4 5.6 5.2 5.0 Financing Fees and Insurance Commissions 4.9 Sales of Kamux Plus 4.2 Integrated Services % of Revenues 5.3% 5.0% 5.1% 4.7% 4.7% 4.3% Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17
Slide 15: Net Working Capital and Inventories Grew According to Plan
Net Working Capital and Inventories Grew According to Plan 47.2 43.3 • NWC grew by 5.8 MEUR 31.3 36.5 36.9 41.4 in Q2 2017 Net Working Capital (MEUR) Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17 52.6 47.9 48.1 40.2 41.6 42.9 Inventories (MEUR) Q1 16 Q2 16 Q3 16 Q4 16 Q1 17 Q2 17
Slide 16: Kamux H1 2017 Summary
Kamux H1 2017 Summary • Positive development in international expansion • Sweden turned positive in Q2, set for future growth • Very strong growth in Germany - proof of concept • Integrated services revenue on record level • 11.0 MEUR in H1 2017, 5.0 % of revenues • Finland grew in a challenging mar
Slide 17: Questions? Thank you!
Questions? Thank you!
Slide 18: 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