Finland · Delayed Price · Currency is EUR Kamux Oyj Earnings Call Transcripts
Fiscal Year 2026
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Profitability improved in Q1 with higher gross margins and customer satisfaction, despite lower volumes and revenue. Inventory increased and cash flow was impacted, but financial position remains solid. Outlook is positive with adjusted operating profit expected to rise.
Fiscal Year 2025
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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.
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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.
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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.
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Q1 saw a notable drop in profitability due to margin pressure, despite stable sales volumes and strong performance in integrated services. Inventory and sourcing strategies were adjusted, with leadership changes and network optimization underway. Confidence in meeting full-year guidance remains, supported by expected seasonal improvements.
Fiscal Year 2024
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Profitability declined sharply in 2024 due to squeezed margins and high inventory, despite stable revenue. Management is focused on correcting inventory mix, improving operational agility, and expects better results in 2025, with earnings growth likely in the second half.
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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.
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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.