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Kamux (KAMUX) investor relations material
Kamux Q4 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Revenue declined 13.3% year-over-year to EUR 875.9 million in 2025, with gross profit down 11.9% to EUR 85.3 million, driven by lower volumes and average prices.
Adjusted operating profit (EBIT) fell to EUR 3.3 million from EUR 11.6 million, with net income negative at EUR -2.3 million and margin at -0.9%.
The number of cars sold dropped 13.6% to 57,518 units, with declines in all operating countries, but market leadership was maintained in Finland.
Customer satisfaction improved, with group NPS reaching 65 in Q4 and 66 at year-end.
Strong operating cash flow of EUR 50.4 million was achieved by reducing inventory and improving turnover.
Financial highlights
Q4 revenue decreased 13.3% to EUR 205.2 million; gross profit fell 11.3% to EUR 17.9 million, but gross margin improved to 8.7%.
Full-year adjusted EBIT margin was 0.4% (down from 1.1%), and reported EBIT margin was 0.1% (down from 0.8%).
Earnings per share were EUR -0.06 for the year (EUR 0.12 in 2024).
Net debt reduced by 54.6% to EUR 33.7 million; equity ratio improved to 53.5%.
Inventory value decreased 23.5% to EUR 100.2 million; inventory turnover improved to 51.8 days.
Outlook and guidance
Adjusted operating profit for 2026 is expected to increase from 2025, driven by operational improvements rather than market recovery.
Long-term targets include 100,000 cars sold annually, EUR 1.5 billion revenue, and 4% adjusted EBIT margin.
Focus remains on profitable growth, careful inventory build-up, and maintaining or improving margins.
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