Kamux Corporation Insider Information
On
According to the current best estimate, this year the Company will be able to reach its medium-term targets regarding the operating profit margin and get close or to the target regarding the revenue growth. However, there are many factors related to the corona pandemic situation that are difficult to predict and can quickly change the situation in the company's operating countries which may still during the rest of the year affect the specified outlook given in this stock exchange release. On December 16[th], an extensive lock-down began in
"The corona pandemic significantly decreased used car sales in March and April. Sales started to recover in May and it normalized in the summer. However, during this autumn there were still many uncertainties related to the spread of the epidemic. Now towards the end of the year we are able to say that despite the second wave of the pandemic we have been able to do sales thanks to our flexible concept, our ability to react quickly and digital-focused operating model. However, the development of the corona pandemic is difficult to predict, and its effects have reflected especially in company's revenue,"
The Company's medium-term financial targets for 2019-2022 are to increase revenue by over 10% annually and to reach an operating profit margin of at least 4% annually.
"I am extremely proud of our committed employees who have worked purposefully taking care of their own and customers' health in highly exceptional circumstances," CEO Kalliokoski adds.
According to the principles that Company follows, the Company does not provide guidance or estimates. Because of the situation, no changes have been made to the medium-term targets set by the Board of Directors.
On 26[th] February,
In Hämeenlinna,
KAMUX CORPORATION
The Board of Directors
Further information:
CEO
Contacts:
satu.otala@kamux.fi
www.kamux.com
https://news.cision.com/kamux/r/kamux-specifies-its-outlook-for-2020,c3256382
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