Kamux Oyj · OMXHEX:KAMUX
Kamux Oyj — Q3 2020 Earnings Presentation
26 slides from Kamux Oyj's earnings presentation, Nov 13, 2020
Slide 1: Kamux Quarterly Results Presentation January-September 2020
Kamux — Quarterly Results Presentation January―September 2020 November 13, 2020 CEO Juha Kalliokoski CFO Marko Lehtonen
Slide 2: Table of Contents
Table of Contents Quarterly Results Presentation Q3 2020 Outlook and Financial Q3 in Brief Financial Development Summary Targets
Slide 3: Kamux Vision: #1 used car retailer in Europe
Kamux Vision #1 used car retailer in Europe
Slide 4: Kamux Q3 2020 in Brief
Kamux Q3 2020 in Brief 1. 3. 5. Adjusted operating profit Total revenue increased in Sweden by Revenue increased by 13.5% to increased by 44.0% to 62.3% to EUR 69.4 million EUR 12.4 million (8.6) and in Germany by EUR 207.4 million (182.8) 31.6% to EUR 19.1 million Gross profit increased Like-for-li
Slide 5: The Used Car Market Increased
The Used Car Market Increased Market Kamux’s Market Kamux’s position and size market development development during • During summer, there was a calm Market (2019) share during Q3 Q3 phase in the corona pandemic Finland ~0.5 ~8.0% We estimate that Kamux maintained its situation but in August- millio
Slide 6: Confirmed Daily Covid-19 Infections per Million People
Confirmed Daily Covid-19 Infections per Million People 350 300 250 200 150 100 50 0 1.3.2020 1.4.2020 1.5.2020 1.6.2020 1.7.2020 1.8.2020 1.9.2020 1.10.2020 1.11.2020 Ruotsi Sweden Saksa Germany Suomi Finland Source: ourworldindata.org (CC BY) Note: 7-day moving average. Information on Swedish cases
Slide 7: The digital-focused operating model and cross-selling are key enablers of growth
The digital- focused operating model and cross-selling are key enablers of growth.
Slide 8: Kamux Q3 2020 - Revenue Increased by 13.5%, Profitability Improved
Kamux Q3 2020 — Revenue Increased by 13.5%, Profitability Improved Revenue (EUR million) Adjusted Operating Profit (EUR million) +44,0% +13,5% 220 13 12 200 11 180 10 160 9 140 8 120 7 6 100 5 80 4 60 3 40 2 20 1 0 0 Q1 Q2 Q3 Q4 Q1 Q2 Q3 Q4 2017 2019 2017 2019 2018 2020 2018 2020 • The revenue incre
Slide 9: Number of Cars Sold Increased Q3 2020
Number of Cars Sold Increased Q3 2020 Sold Cars (pcs) +12,2% 18 000 17 285 16 000 15 409 14 395 14 227 14 000 13 441 13 413 12 564 12 187 12 000 11 379 11 433 11 220 10 294 12 751 10 000 12 213 10 888 10 937 8 000 10 615 10 291 10 328 9 688 9 337 9 486 9 066 6 000 8 522 4 000 3 143 2 000 2 132 2 385
Slide 10: Integrated Services Revenue Grew Q3 2020
Integrated Services Revenue Grew Q3 2020 Integrated Services Revenue MEUR % 6,0% 12 5,7% 6 5,3% 5,4% 5,3% 5,0% 5,0% 5,0% 9,4 4,7% 4,8% 4,7% 10 9,4 4,6% 5 8,9 8,6 8,6 7,8 7,9 8 4 7,1 6,8 6,1 6,1 6,4 6 3 4 2 2 1 0 0 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Finance fees a
Slide 11: Showrooms on November 13, 2020
Showrooms on November 13, 2020 2020 FINLAND SWEDEN GERMANY OPENINGS 2020 Q1 Espoo Niittykumpu 1 Sundsvall Q2 Tornio Stockholm Kaltenkirchen 5 Värmdö Q3 Lübeck 1 Announced Openings — — — — 2020 FINLAND SWEDEN GERMANY TOTALLY Showrooms totally Nov 13, 2020 50 20 8 78
Slide 12: Financial Development
Financial Development Marko Lehtonen, CFO
Slide 13: Return on Equity and Earnings per Share Improved with Profitable Growth
Return on Equity and Earnings per Share Improved with Profitable Growth • Return on equity (ROE) 27.0% was strong and it improved from last year Kamux’s • Equity ratio 43.4% slightly declined as financial inventory increased performance • Net cash (cash-borrowings) continued to improved be positive
Slide 14: Key Figures
Key Figures 7-9/ 7-9/ 1-9/ 1-9/ 1−12/ (MEUR) Change, % Change, % 2020 2019 2020 2019 2019 Revenue 207.4 182.8 13.5% 525.3 483.1 8.7% 658.5 Gross profit 28.9 22.8 26.3% 67.7 59.6 13.7% 79.6 as percentage of revenue, % 13.9% 12.5% 12.9% 12.3% 12.1% Operating profit (EBIT) 12.1 8.6 41.1% 23.8 20.0 19.2
Slide 15: Kamux Finland - Revenue Increased, Profitability Improved in Q3 2020
Kamux Finland — Revenue Increased, Profitability Improved in Q3 2020 Revenue (EUR million) +4,8% • Revenue increased by 4.8% compared to the previous year and 160 140 was EUR 145.2 million (138.6). 120 100 • Gross margin increased to EUR 22.1 million (18.7), or 15.2% 80 (13.5) of revenue. 60 40 • Op
Slide 16: Kamux Sweden - Very Strong Revenue Growth, Operating Profit Increased
Kamux Sweden — Very Strong Revenue Growth, Operating Profit Increased Revenue (EUR million) +62,3% 70 60 • Total revenue grew 62.3% compared to the previous 50 year and was EUR 69.4 million (42.8). 40 30 • Gross margin increased to EUR 4.9 million (3.0), or 20 10 7.1% (7.1) of revenue. 0 Q1 Q2 Q3 Q4
Slide 17: Kamux Germany - Very Strong Revenue Growth, Operating Income Turned Positive
Kamux Germany — Very Strong Revenue Growth, and Operating Income Turned Positive in Q3 2020 Revenue (EUR million) +31,6% 20,0 • Total revenue grew by 31.6% compared to the 17,5 previous year and was EUR 19.1 million (14.6). 15,0 12,5 • Gross margin increased to EUR 1.9 million 10,0 7,5 (1.2), or 9.8
Slide 18: Net Working Capital and Inventories Increased
Net Working Capital and Inventories Increased Net Working Capital (EUR million) Inventories (EUR million) 80 100 +25,0% +14,0% 90 70 80 60 70 50 60 40 50 40 30 30 20 20 10 10 0 0 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q4 19 Q1 20 Q2 20 Q3 20 Q4 17 Q1 18 Q2 18 Q3 18 Q4 18 Q1 19 Q2 19 Q3 19 Q
Slide 19: Cash Flow from Operations was Impacted Negatively by Inventory Returning to Normal Level
Cash Flow from Operations was Impacted Negatively by Inventory Returning to Normal Level Cash Flow from Operations (EUR million) Change (EUR million) to Comparison Period 20 25 18 2 20 19 3 16 14 15 12 10 10 29 8 6 5 4 2 0 0 -5 0 -2 -4 -10 -6 Cash flow Profit Adjustments Changes Financial Cash flow
Slide 20: Investments in Knowledge Management Continued
Investments in Knowledge Management Continued Investments (EUR million) • In line with our strategy, we have systematically invested in growth. 1,5 • Kamux seeks to gain a significant competitive 1,0 advantage by investing in leading with knowledge as 0,5 well as digital customer and business proces
Slide 21: Outlook and Financial Targets
Outlook and Financial Targets
Slide 22: Outlook and Financial Targets
Outlook and Financial Targets € € € Revenue growth of EBIT margin of Distribute dividends of Kamux does not over 10% annually at least 4% in at least 30% of net publish a short-term 2019-2022 2019-2022 profits outlook Revenue Profitability Dividend Policy Outlook The global corona pandemic and the r
Slide 23: Summary
Summary
Slide 24: Summary Q3/2020
Summary Q3/2020 Revenue increased Adjusted operating profit by 13.5% to increased by 44.0% to EUR 207.4 million (182.8) EUR 12.4 million (8.6) Gross profit increased Kamux’s by 26.3% to internationalization advanced EUR 28.9 million (22.8)
Slide 25: Questions?
Questions?
Slide 26: 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