Kamux Oyj · OMXHEX:KAMUX
Kamux Oyj — Shareholder Meeting (April 2024)
21 slides from Kamux Oyj's shareholder meeting presentation, Apr 18, 2024
Slide 1: CEO's review
CEO’s review Tapio Pajuharju, CEO Kamux Corporation Annual General Meeting April 18, 2024 CEO'S REVIEW, KAMUX AGM 2024 APRIL 18, 2024 1
Slide 2: Group Management Team
Group Management Team Tapio Pajuharju Jukka Havia Jani Koivu Andy Rietschel Martin Verrelli CEO CFO MANAGING DIRECTOR, MANAGING DIRECTOR, MANAGING DIRECTOR, FINLAND SWEDEN GERMANY Aino Hökeberg Jarkko Lehtismäki Marjo Nurmi Juha Saarinen Vesa Uotila CHIEF MARKETING CHIEF DIGITAL OFFICER CHIEF PEOPLE
Slide 3: Kamux is focused on selling and buying used cars
Kamux is focused on selling and buying used cars Europe’s 3rd largest used car retailer Revenue by country in 2023 Cars sold by country in 2023 A total of 77 stores* and app. 885 employees in three operating countries 10% 5,603 45 12,777 stores 21% 1,002.1 68,257 23 million € in total cars in total
Slide 4: Year 2023 in short
Year 2023 in short CEO'S REVIEW, KAMUX AGM 2024 APRIL 18, 2024 4
Slide 5: Key Figures
Key Figures (MEUR) 10-12/2023 10-12/2022 Change, % 1–12/2023 1–12/2022 Change, % Revenue 241.6 222.9 8.4% 1,002.1 968.7 3.5% Gross profit 26.1 21.2 23.4% 102.5 94.1 9.0% as percentage of revenue, % 10.8% 9.5% 10.2% 9.7% Operating profit (EBIT) 4.5 1.6 176.9% 15.8 17.0 -7.1% as percentage of revenue,
Slide 6: We have successfully grown organically
We have successfully grown organically Revenue (M€) Cars sold (1,000 pcs) Showrooms 1,002 78 79 78 78 68.5 68.3 937 969 CAGR 62.9 71 60.7 2007–2023 55.4 +28.0% 724 61 46,6 53 659 41.0 47 36.3 41 528 455 34 28.5 405 27 310 20.3 20 215 14.2 16 10.5 13 152 9 6.9 7 74 112 3.6 5.0 53 1.8 2.6 19 27 38 FIN
Slide 7: Strong volume development in Finland and Germany, Sweden still lagging
Strong volume development in Finland and Germany, Sweden still lagging Sold cars (pcs) Germany Sweden Finland +11.4% 20,000 19,364 18,699 1,567 18,000 1,422 17,215 16,760 16,728 16,952 16,242 16,354 15,601 15,688 1,223 1,414 16,000 1,099 1,490 1,397 15,324 3,529 1,322 4,106 1,248 1,280 14,681 1,300
Slide 8: Kamux Plus growth solid, finance fees continue to be challenged by high interest rates
Kamux Plus growth solid, finance fees continue to be challenged by high interest rates Revenue from integrated services MEUR 16 15.3 15.4 10% 13.6 9% 14 12.9 12.8 13.0 12.4 11.8 11.5 8% 12 6.9 % 10.7 9.9 6.4 % 7% 10 9.4 5.3 % 5.2 % 6% 5.2 % 5.0 % 5.0 % 4.9 % 4.8 % 8 4.5 % 5% 4.2 % 4% 6 4.3 % 3% 4 2%
Slide 9: Key figures by operating country in 2023
Key figures by operating country in 2023 Revenue by country in 2023 Sold cars by country in 2023 Average number of employees in 2023 10% 5,603 75 12,777 21% 227 1,002.1 68,257 In total million € in total cars in total 885 (883) (968.7) (62,922) 583 70% 49,877 Finland Sweden Germany Finland Sweden Ge
Slide 10: Key events in 2023
Key events in 2023 Improvements in showroom Network upgrades in Sweden, but 1 Change of CEO in the spring 2 network and selection in Finland, adjustments in operations and back on 3 misconduct and unclarities were discovered towards the end of the year in connection to the change of strong growth tr
Slide 11: Outlook for 2024
OUTLOOK FOR 2024 Kamux expects its adjusted operating profit for 2024 to exceed its 2023 adjusted operating profit, which was EUR 18.0 million. CEO'S REVIEW, KAMUX AGM 2024 APRIL 18, 2024 11
Slide 12: Dividend policy stays unchanged
Dividend policy stays unchanged EUR EPS DPS Payout,% % 0.7 80 70 0.6 DIVIDEND POLICY 60 The company’s target 0.5 is a dividend payout of 50 0.4 at least 25% of the 40 profit for the financial 0.3 year 30 0.2 20 0.1 10 0 0 2019 2020 2021 2022 2023 CEO'S REVIEW, KAMUX AGM 2024 APRIL 18, 2024 12
Slide 13: Strategy 2024–2026
Strategy 2024–2026 CEO'S REVIEW, KAMUX AGM 2024 APRIL 18, 2024 13
Slide 14: Become the #1 used car retailer in Europe
OUR VISION Become the #1 used car retailer in Europe CEO'S REVIEW, KAMUX AGM 2024 APRIL 18, 2024 14
Slide 15: M&A to accelerate growth
CUSTOMER PROMISE OPERATIONAL EFFICIENCY Become the most Industrialize friendly, convenient and standardize and trustworthy used operations across car retailer value chain M&A TO ACCELERATE GROWTH Customer-centric offering Global and local for consumers and purchasing teams to professionals utilize p
Slide 16: Kamux is part of circular economy and our ESG agenda supports strategic business goals
Kamux is part of circular economy and our ESG agenda supports strategic business goals TRUST- LOWER THRIVING & INCLUSIVE WORTHINESS EMISSION CARS WORKPLACE • Used cars you can trust • Affordable lower-emission cars • Attractive career paths, learning • Transparency for well-informed • Supporting the
Slide 17: Become the most friendly, convenient and trustworthy used car retailer
Become the most friendly, convenient and trustworthy used car retailer CUSTOMER QUALITY & ADD-ON SERVICE TRANSPARENCY SERVICES Bring customer to the epicenter of all Standardized processing of all cars Introduce innovative, hassle-free and activities, with tailored services for convenient service pa
Slide 18: Improve profitability through standardized operations leveraging economies of scale
Improve profitability through standardized operations leveraging economies of scale Unify operations in all countries PROCESSING PRICING SOURCING PEOPLE & LOGISTICS & ANALYTICS Gain Group scale by ramping up Bring more centralization and Centrally driven fair pricing by More focused roles and respon
Slide 19: Long-term targets
Long-term targets FINANCIAL Sold cars, pcs 100,000 / year Revenue, EUR EUR 1.5 billion / year mainly organic growth, with bolt-on M&A Adjusted EBIT margin, % 4% of Revenue relative profitability NON-FINANCIAL NPS, group average 60 customer feedback, regular inputs eNPS, group average 40 employee eng
Slide 20: CEO'S REVIEW, KAMUX AGM 2024 APRIL 18, 2024
CEO'S REVIEW, KAMUX AGM 2024 APRIL 18, 2024 20
Slide 21: Thank You!
Thank You! CEO'S REVIEW, KAMUX AGM 2024 APRIL 18, 2024 21