HELSINKI, July 22, 2021 /PRNewswire/ -- Kamux's German
subsidiary, Kamux Auto GmbH has decided to initiate legal
proceedings against local procurement partner. The operator in
question has received payments from Kamux Auto GmbH in
March-June 2021 for cars that it has
not been able to deliver despite numerous complaints. Kamux Auto
GmbH demands refund of payments related to purchasing agreements
made to the procurement partner totaling approximately EUR 3.7 million.
Since the recovery of payments depends on the outcome of the
legal proceedings, Kamux Auto GmbH will recognize provisions
amounting to EUR 3.9 million in
June 2021 related to possible costs
and losses. The possible costs and losses are reported in
adjustment items, and they will not affect the 2021 outlook
previously published by Kamux.
Contact:
Marko Lehtonen, CFO
Tel. +358 50 575 2006
ir@kamux.fi
Kamux Corporation is a retail chain specializing in the sale
of used 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
total of 79 car showrooms in Finland, Sweden and Germany. Since its founding, the company has
sold approximately 300,000 used cars, 60,657 of which were sold in
2020. Kamux's revenue reached EUR 724.1
million in 2020. In 2020, Kamux's average number of
employees was 713 in terms of full-time equivalent employees. The
shares of Kamux are listed on the Nasdaq Helsinki stock
exchange.
For more information, please visit www.kamux.com.
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