Kamux Corporation | Inside Information | December 18, 2024 at 09:05:00 EET
Kamux lowers its outlook for the year 2024 because in the last quarter of the year sales have been lower than expected and the margin level has weakened significantly due to the tight market situation in all of Kamux's operating countries. Kamux now expects the adjusted operating profit for 2024 to be EUR 11-13 million. Previously Kamux expected its adjusted operating profit for 2024 to be EUR 15-17 million.
Rationale for updating the outlook
In the last quarter of 2024, demand for cars sold by Kamux has been weaker than expected. Due to the tight market situation, purchase and sales prices have been under pressure in all three markets, resulting in sales volumes falling short of targets and the average margin on cars sold has decreased significantly.
New outlook for 2024:
Kamux expects the adjusted operating profit for 2024 to be EUR 11-13 million.
Previous outlook for 2024:
Kamux expects its adjusted operating profit for 2024 to be EUR 15-17 million.
Kamux publishes the Financial Statements Bulletin for 2024 on Thursday, February 20, 2025.
For more information:
Tapio Pajuharju, CEO, tel. +358 50 577 4200
Jukka Havia, CFO, tel. +358 50 355 3757
Kamux Corporation
Communications
Kamux is a retail chain specialized in preowned cars and related integrated services that has grown rapidly. Kamux combines online shopping with an extensive showroom network to provide its customers with a great service experience anytime, anywhere. In addition to digital channels, the company has a total of 71 car showrooms in Finland, Sweden and Germany. Since its founding in Hämeenlinna, Finland, in 2003 the company has sold over 500,000 used cars, 68,257 of which were sold in 2023. Kamux's revenue in 2023 was EUR 1,002 million and its average number of employees was 885 in terms of full-time equivalent employees. Kamux Corporation is listed on Nasdaq Helsinki Ltd. For more information, please visit www.kamux.com
