Finland · Delayed Price · Currency is EUR Kamux Oyj Earnings Call Transcripts
Fiscal Year 2025
-
2025 saw a 13% revenue decline and negative operating profit, but gross margin and customer satisfaction improved. Inventory was reduced to strengthen cash flow, and 2026 guidance expects higher adjusted operating profit, driven by operational improvements rather than market recovery.
-
Profitability focus led to improved gross margin but a 17% revenue decline due to lower volumes. Cash flow and inventory position are strong, with ongoing turnaround efforts in Sweden and Germany. Long-term targets remain, but guidance was lowered after volume shortfalls.
-
Profitability improved with a 25% rise in gross profit per car and higher margins, despite an 18.7% revenue decline due to lower volumes and fewer stores. Cash flow and integrated services revenue increased, while Finland led in profitability turnaround and Germany and Sweden continued to face challenges.
-
Q1 saw a notable drop in profitability due to margin pressure and inventory actions, though cash flow improved and customer satisfaction remained strong. Management maintains 2025 guidance, expecting seasonal strength and recent corrective measures to drive recovery.
Fiscal Year 2024
-
Revenue remained stable above €1 billion, but profitability dropped sharply due to squeezed margins and high inventory, especially in Finland and Germany. Management expects improved results in 2025, with operational changes and network optimization underway.
-
Q3 results showed a slight revenue decline and lower profitability, mainly due to underperformance in Sweden and higher inventory levels. Strategic acquisitions and cost-saving measures are underway, with 2024 adjusted EBIT now guided at €15–17 million.
-
Q2 saw flat revenue but a sharp drop in operating profit due to tight sourcing and cost inflation. Store closures and efficiency projects are expected to improve profitability, with gradual recovery in Sweden and full-year guidance maintained.