Kamux (KAMUX) investor relations material

Executive summary

• Q3 revenue rose 3.3% to €240.3m and cars sold increased 1.5% to 15,962; adjusted EBIT fell to €1.4m from €4.3m amid weak diesel margins.

• 9M revenue declined 0.9% to €664.7m and adjusted operating profit was €1.0m versus €5.2m.

• Updated strategy focuses on profitable, above-market growth in Finland and Sweden; Q3 NPS was 67.

Financial highlights

• Q3 gross profit fell 15.5% to €21.4m; gross margin declined to 8.9% from 10.9%.

• Q3 reported EBIT was €1.4m versus €4.1m; adjusted EBIT was €1.4m versus €4.3m, or 0.6% of revenue versus 1.8%.

• Integrated-services revenue was €13.2m, down 3.5%, and 5.5% of revenue versus 5.9%; financing services particularly weakened.

• 9M gross profit declined 9.2% to €61.2m; reported EBIT was €0.6m versus €3.2m, and result was €0.1m versus a loss of €1.8m.

Outlook and guidance

• Revised FY2026 outlook: adjusted operating profit is expected to decrease YoY, versus the prior expectation of an increase.

• 2027–2029 targets: above-market unit growth, 10x inventory turnover and 3% adjusted EBIT margin by 2029, NPS above 65 and eNPS above 40.

• Strategy centers on used cars and Finland and Sweden, with stronger sourcing, sales channels, online sales and faster inventory turnover.

• Management expects Sweden to achieve growth and positive adjusted EBIT during the strategy period; 10x inventory turnover is to be achieved progressively.