This is a summary of
The figures in parentheses refer to the comparison period, i.e., the same period in the previous year, unless stated otherwise.
July--September in brief
- Revenue increased by 2.8%, totaling
EUR 261.7 million (254.6) -
Gross profit decreased by -16.5% to
EUR 24.2 million (29.0), or 9.2% (11.4) of revenue -
Adjusted operating profit (EBIT) decreased by -47.8% to
EUR 5.2 million (10.0), or 2.0% (3.9) of revenue -
Operating profit (EBIT) decreased by -47.8% to
EUR 5.2 million (10.0), or 2.0% (3.9) of revenue - The number of cars sold decreased by -9.3% to 16,952 cars (18,699)
- Like-for-like showroom revenue growth was 0.5% (13.9)
-
Basic and diluted earnings per share were
EUR 0.09 (0.18)
January--September in brief
- Revenue increased by 7.6%, totaling
EUR 745.8 million (693.3) -
Gross profit increased by 0.3% to
EUR 72.9 million (72.7), or 9.8% (10.5) of revenue -
Adjusted operating profit (EBIT) decreased by -31.5% to
EUR 15.4 million (22.4), or 2.1% (3.2) of revenue -
Operating profit (EBIT) decreased by -16.8% to
EUR 15.4 million (18.5), or 2.1% (2.7) of revenue - The number of cars sold decreased by -6.7% to 48,241 cars (51,701)
- Like-for-like showroom revenue growth was 4.6% (20.3)
-
Basic and diluted earnings per share were
EUR 0.27 (0.31)
Key figures
EUR million | 7-9/2022 | 7-9/2021 | Change, % | 1-9/2022 | 1-9/2021 | Change, % | 1-12/2021 |
Revenue | 261.7 | 254.6 | 2.8% | 745.8 | 693.3 | 7.6% | 937.4 |
Gross profit | 24.2 | 29.0 | -16.5% | 72.9 | 72.7 | 0.3% | 101.3 |
as percentage of revenue, % | 9.2% | 11.4% | 9.8% | 10.5% | 10.8% | ||
Operating profit (EBIT) | 5.2 | 10.0 | -47.8% | 15.4 | 18.5 | -16.8% | 28.0 |
as percentage of revenue, % | 2.0% | 3.9% | 2.1% | 2.7% | 3.0% | ||
Adjusted operating profit* | 5.2 | 10.0 | -47.8% | 15.4 | 22.4 | -31.5% | 31.4 |
as percentage of revenue, % | 2.0% | 3.9% | 2.1% | 3.2% | 3.3% | ||
Revenue from integrated services | 13.0 | 10.7 | 21.7% | 37.6 | 30.0 | 25.4% | 42.8 |
as percentage of revenue, % | 5.0% | 4.2% | 5.0% | 4.3% | 4.6% | ||
Number of cars sold | 16,952 | 18,699 | -9.3% | 48,241 | 51,701 | -6.7% | 68,429 |
Gross profit per sold car, EUR | 1,427 | 1,549 | -7.9% | 1,511 | 1,406 | 7.5% | 1,480 |
Sales growth of like-for-like showrooms, % | 0.5% | 13.9% | 4.6% | 20.3% | 19.1% | ||
Net debt | 79.6 | 58.7 | 35.5% | 70.4 | |||
Inventories | 140.0 | 117.8 | 18.8% | 132.8 | |||
Inventory turnover, days | 52.9 | 48.8 | 8.4% | 49.3 | |||
Capital expenditures | 0.6 | 1.7 | -66.5% | 2.4 | 5.1 | -52.5% | 7.4 |
Average number of employees during the period | 878 | 839 | 4.6% | 848 | |||
Return on equity (ROE), % | 17.5% | 18.6% | 19.5% | ||||
Return on investment (ROI), % | 10.7% | 11.7% | 12.5% | ||||
Equity ratio, % | 47.4% | 41.7% | 47.3% | ||||
Earnings per share, basic, EUR | 0.09 | 0.18 | -51.0% | 0.27 | 0.31 | -12.8% | 0.49 |
Earnings per share, diluted, EUR | 0.09 | 0.18 | -51.3% | 0.27 | 0.31 | -13.0% | 0.49 |
* Operating profit adjusted for special items related to legal processes and taxes from previous financial years, totaling
CEO
"Despite the continued challenging market situation, we succeeded in growing our market share in all our operating countries also during the third quarter. The demand for used cars was sluggish, as accelerated inflation and the energy crisis weakened consumers' purchasing power and confidence in the future.
Revenue developed positively in all countries as a result of higher average prices, and sales of integrated services continued to develop well. Margin per car developed positively in
There was a clear change in the demand for used cars during the third quarter, as the very strong demand for electric and hybrid cars at the beginning of the year weakened as a result of the electricity price increases and the news coverage on the energy crisis. However, the number of hybrid and electric cars sold by the company increased by 29% compared to the third quarter of 2021. Our work to adjust the inventory of cars for sale to better match the demand progressed, especially in
Despite the challenging market situation, we continued to invest in growth in accordance with our strategy. In
We have yesterday published news about the change of CEO at
Revised outlook for the year 2022 (Updated on
In 2022,
Although
Financial targets for 2021-2023
The Company's medium-term financial targets are to increase revenue by over 20% annually, to increase adjusted operating profit annually, and to reach an adjusted operating profit margin of over 3.5% and a return on equity (ROE) of over 25%. Additionally, the Company's target is to distribute dividends of at least 25% of net profits. The Board of Directors of the Company estimates annually the balance between dividends to be distributed and funds to be used for
Significant events after the reporting period
On
On
The Shareholders' Nomination Board proposes to the AGM that the annual remuneration for the Chair and members of the Board of Directors be modestly raised from the 2022 level, and the committee fees to remain on the 2022 level. Accordingly, the proposed remuneration is as follows: chairperson of the Board of Directors
Publication schedule for financial reporting in 2023
Publication schedule for
Financial Statements Bulletin 2022
Interim Report for January--
Half-Year Report for January--
Interim Report for January--
The Annual Report for 2022 including Financial Statements will be published on the week commencing
The Annual General Meeting of
News conference
News conference for investors, analysts and media will be held today,
The conference can be followed as a live webcast at https://kamux.videosync.fi/2022-q3-results (in English at 11.00 EET) and https://kamux.videosync.fi/2022-q3-tulos (in Finnish at 12.00 EET).
Participation by conference call:
You can access the teleconference by registering on the link below. After the registration you will be provided phone numbers and a conference ID to access the conference. https://palvelu.flik.fi/teleconference/?id=1008170
The conference in English will start at 11.00 EET and in Finnish at 12.00
For further information, please contact:
CEO
CFO
Head of Communications & IR Katariina Hietaranta, tel. +358 50 557 6765
Communications
https://news.cision.com/kamux/r/kamux-corporation-s-interim-report-for-january-1-september-30--2022--kamux-s-revenue-grew-in-a-chall,c3669048
https://mb.cision.com/Main/17647/3669048/1679473.pdf
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