Kamux Corporation, Inside information,
30.12.2022 at 11:00
HÄMEENLINNA, Finland, Dec. 30,
2022 /PRNewswire/ -- Kamux lowers its outlook for the
year 2022 revenue and operating profit due to weaker than expected
sales and car sales margin during the fourth quarter.
Rationale for updating the outlook
Demand for Kamux's used cars contracted significantly more than
expected in all operating countries during the fourth quarter. The
contraction in demand is due to low consumer confidence, caused by
the war in Ukraine and its
effects, such as the energy crisis. In addition, Kamux's margin on
car sales was significantly lower than expected due to weak demand
and the measures taken to adjust the inventory to meet the
demand.
New outlook for 2022:
In 2022, Kamux expects its revenue to be over EUR 950 million. The company expects its adjusted
operating profit to be approximately EUR
16-20 million.
Previous outlook for 2022:
In 2022, Kamux expects its revenue to be at least EUR 1,000 million and adjusted operating profit
to be approximately EUR 23-26
million.
For more information:
Juha Kalliokoski, CEO, Tel. +358
40 185 8633
Marko Lehtonen, CFO, Tel. +358 50
575 2006
Kamux Corporation
Communications
Kamux 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 a total
of 78 car showrooms in Finland,
Sweden and Germany. Since its founding, the company has
sold over 400,000 used cars, 68,429 of which were sold in 2021.
Kamux's revenue reached EUR 937.4
million in 2021. In 2021, Kamux's average number of
employees was 848 in terms of full-time equivalent employees. Kamux
Corporation is listed on Nasdaq Helsinki Ltd.
www.kamux.com
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