Kamux Oyj: Kamux Corporation's Interim Report for January-March 2017
(Thomson Reuters ONE) -
Kamux Corporation Interim Report May
24, 2017 12:00
Kamux Corporation's Interim Report for January-March 2017
Revenue and adjusted operating profit increased
First quarter in brief
- The number of cars sold by Kamux increased by 13.8% to 9,698 cars (1-
3/2016: 8,523)
- Kamux's revenue increased by 12.6%, totaling EUR 109.3 million (97.0)
- Gross profit increased by 5.4% to EUR 12.5 million (11.9) or 11,5% (12,3) of
revenue
- Adjusted operating profit (EBIT) increased by 5.5% to EUR 4.6 million (4.4),
or 4.3% (4.5) of revenue
- Earnings per share were EUR 0.07 (0.07)
Key figures
EUR million 1-3/2017 1-3/2016 Change, % 1-12/2016
-------------------------------------------------------------------------------
Revenue 109.3 97.0 12.6% 404.8
Gross profit 12.5 11.9 5.4% 49.2
of revenue, % 11.5% 12.3% 12.2%
Operating profit (EBIT) 3.4 4.0 -13.5% 15.7
of revenue, % 3.1% 4.1% 3.9%
Adjusted operating profit* 4.6 4.4 5.5% 18.0
of revenue, % 4.3% 4.5% 4.4%
Revenue from integrated services 5.4 4.2 30.5% 19.3
of revenue, % 5.0% 4.3% 4.8%
Number of cars sold 9,698 8,523 13.8% 36,290
Gross profit per car sold, EUR 1,293 1,395 -7.4% 1,357
Same store sales growth, % -6.9% 26.7% -125.9% 12.2%
Net debt 26.1 23.3 12.4% 30.9
Inventory 48.1 40.2 19.6% 47.9
Inventory turnover, days 43.8 39.0 12.2% 43.1
Investments 0.3 0.1 157.3% 2.1
Average number of employees during the
period 389 301 29.2% 343
Return on equity (ROE), % 38.8% 62.3% -37.7% 43.8%
Return on capital employed (ROI), % 20.6% 28.9% -28.6% 22.5%
Equity ratio, % 41.0% 32.7% 25.7% 36.9%
Basic earnings per share, EUR 0.07 0.07 -11.0% 0.29
* Operating profit adjusted for the costs related to the initial public
offering, special items related to strategy planning, strategy implementation
and geographical expansion, totaling EUR 1.2 million for the first quarter of
2017 (1-3/2016: EUR 0.4 million).
Outlook and financial targets
Kamux does not provide a short term outlook. In the medium term, the company's
targets are to increase revenue to at least EUR 700 million in 2019 and the
operating profit margin of 4-5% in 2019 and at least 5% in the long term.
CEO Juha Kalliokoski:
"Kamux continued strong growth and international expansion during the first
quarter of 2017. Our revenue increased to EUR 109.3 million by 12.6%. Our
adjusted operating profit (EBIT) increased to EUR 4.6 million with increase of
5.5%. The number of cars sold increased by 13.8% to 9,698 cars. The revenue from
integrated services increased to EUR 5.4 million, representing 5.0% of the
revenue. Our operating environment was challenging during the first quarter in
Finland due to the uncertainty caused by the road transport report published by
the Ministry of Transport and Communications. Taking this into account, I am
satisfied with our performance during the first quarter.
In the beginning of the year we continued to expand our showroom network. In
January, we celebrated the official opening of our new showroom in Nedderfeld,
Germany, and in February, we opened a new showroom in Turku, Finland. We aim to
open several new showrooms during 2017 in the countries where we operate. In
Sweden, we focused on the further development of our business processes, and we
believe this will support our Swedish operations during the rest of the year. In
April, we made a significant recruitment when Mr. Olli Kilpi was appointed as
our director of international operations. Kilpi has a long and diverse
background in retail, including working as the CEO of McDonalds in Sweden and
Norway as well as working for Henkel and Procter and Gamble. In 2017, we aim to
strengthen our organization further particularly in the areas of digitalization
and international expansion.
A cornerstone of our strategy is to grow profitably by opening new showrooms and
increasing sales at current stores. Excellent customer experience is an
important part of Kamux's operating model, and we aim to be a forerunner also in
the area of digital customer experience. As a part of our digital strategy, we
opened an online store in Finland in February.
After the reporting period, we started our journey as a publicly listed company
on the pre-list of Nasdaq Helsinki on May 12, 2017, and trading of Kamux's share
on the official list of Nasdaq Helsinki began on May 16, 2017. The objective of
the listing is to support Kamux's growth strategy and international expansion,
as well as increase Kamux's visibility in Finland and abroad. The listing is an
important milestone in our journey to become the leading used car retailer in
Europe."
Publication schedule for financial reporting in 2017
Kamux will publish its financial reports in 2017 as follows:
Interim report for January-June 2017 on Thursday August 24, 2017.
Interim report for January-September 2017 on Thursday November 23, 2017.
Interim report conference call
Kamux will hold an interim report conference call today on May 24, 2017 at
15:00 (Finnish time). The interim report will be presented by CEO Juha
Kalliokoski and CFO Tapio Arimo. Participants are requested to call in and
register a few minutes prior to the start of the conference call at
https://praecomspark.webex.com/praecomspark/onstage/g.php?MTID=e50a5daac7d7a72ac
9fe399c6aae1dc6f.
The numbers are: UK call-in toll number: +44-203-478-5289, Finland toll:
+358 9 3158 4349 and Sweden toll: +46 8 5051 3563.
Global call-in numbers:
https://praecomspark.webex.com/praecomspark/globalcallin.php?serviceType=EC&ED=5
34514682&tollFree=0.
The conference access code is: 842 758 004.
In Hämeenlinna on May 24, 2017
Kamux Corporation
The Board of Directors
For more information:
Juha Kalliokoski, CEO
Tel. +358 50 544 5538
Tapio Arimo, CFO
Tel. +358 40 829 6452
Satu Heikkilä, Director of Marketing and Communications
Tel. +358 400 629 337
Appendix:
Kamux Oyj_Interim Report_Q1_2017:
http://hugin.info/172240/R/2107360/800315.pdf
Kamux_HistoricalFinancials2016_AppendixtoStockExchangeRelease 24052017:
http://hugin.info/172240/R/2107360/800306.pdf
This announcement is distributed by Nasdaq Corporate Solutions on behalf of Nasdaq Corporate Solutions clients.
The issuer of this announcement warrants that they are solely responsible for the content, accuracy and originality of the information contained therein.
Source: Kamux Oyj via GlobeNewswire
Unternehmensinformation / Kurzprofil:
Datum: 24.05.2017 - 11:00 Uhr
Sprache: Deutsch
News-ID 544270
Anzahl Zeichen: 8696
contact information:
Town:
Hämeenlinna
Kategorie:
Business News
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