Kamux Oyj

Kamux Corporation announced a flagging notification according to Chapter 9, Section 10 of the Securities Markets Act. On August 20, 2024, Kamux received a notification that Saray Value Fund SPC, managed by Saray Capital (DIFC) Limited, has increased its holding in Kamux Corporation shares and votes to above five percent as of August 16, 2024, due to the acquisition of shares or voting rights. Kamux Corporation, a retail chain specializing in preowned cars and related services, operates 74 car showrooms in Finland, Sweden, and Germany, and combines online shopping with a showroom network. In 2023, Kamux sold 68,257 used cars and had a revenue of EUR 1,002 million with an average of 885 full-time equivalent employees. Kamux is listed on Nasdaq Helsinki Ltd. For more information, contact Head of Communications & IR, Katariina Hietaranta.

Kamux Corporation reported managers' transactions involving its Chief Executive Officer, Tapio Pajuharju, on August 19, 2024. Pajuharju acquired shares of Kamux Oyj across various venues including XPAC, CEUX, AQEU, and Nasdaq Helsinki Ltd (XHEL). The transactions involved different volumes and unit prices, with the largest aggregated transaction being 3967 shares at a volume-weighted average price of 4.2 EUR on Nasdaq Helsinki Ltd. Kamux Corporation specializes in selling preowned cars through both online and physical showrooms, operating 74 car showrooms in Finland, Sweden, and Germany. In 2023, Kamux sold 68,257 used cars, generating a revenue of EUR 1,002 million with an average of 885 full-time equivalent employees. The company is listed on Nasdaq Helsinki Ltd.

Kamux Corporation reported a transaction by a senior manager, Jarkko Lehtismäki, on August 19, 2024. The transaction involved the acquisition of 2,500 shares at a unit price of 4.27 EUR, conducted on Nasdaq Helsinki Ltd. Kamux is a rapidly growing retail chain specializing in preowned cars and related services, with a network of 74 showrooms across Finland, Sweden, and Germany. Founded in 2003, the company sold over 500,000 used cars by 2023 and generated a revenue of EUR 1,002 million that year. Kamux is listed on Nasdaq Helsinki Ltd.

Kamux Corporation's Half Year Financial Report for January 1—June 30, 2024, indicates a decrease in both revenue and adjusted operating profit, with a notably weak performance in the Swedish market during Q2. Despite favorable used car demand, challenges in sourcing, particularly in Sweden, impacted overall results. Finland saw a market slowdown in June, while Germany maintained favorable market conditions. The number of cars sold in Germany increased by almost 20%, remained stable in Finland, but decreased significantly in Sweden. The group's total car sales and revenue both fell by 1% compared to the previous year, primarily due to the decline in Sweden. Gross profit also decreased, mainly due to Sweden's performance, despite favorable developments in Germany. The adjusted operating profit for Q2 was EUR 2.7 million, down from EUR 4.5 million in the previous year. Operating cash flow for the first half of the year was EUR -14.2 million. Kamux continues to implement its omnichannel strategy, aiming for annualized savings of EUR 5.0–7.0 million by the end of 2025 through standardizing indirect purchases and streamlining operations. Customer satisfaction, measured by the Net Promoter Score, slightly decreased but remained strong. Kamux expects its adjusted operating profit for 2024 to surpass the EUR 18.0 million achieved in 2023. Recent management changes include the departure of key executives in Sweden and at the group level. A news conference discussing the report will be held on August 16, 2024.

Kamux Corporation announced a change in its Group Management Team on August 13, 2024. Andy Rietschel, the Managing Director of Kamux Sweden and a member of the Group Management Team, has resigned with immediate effect. Aino Hökeberg, the company's Chief Marketing and Concept Officer, will serve as the interim Managing Director of Kamux Sweden while the recruitment process for a new Managing Director begins. CEO Tapio Pajuharju expressed gratitude for Rietschel's contributions, particularly in implementing new ways of working and addressing misconduct in the Swedish operations. The current members of the Group Management Team include CEO Tapio Pajuharju, CFO Jukka Havia, and others in key roles across Finland, Germany, and Sweden. Kamux specializes in the retail of preowned cars and has grown significantly, with 74 showrooms in Finland, Sweden, and Germany, and substantial sales and revenue figures in 2023. The company is listed on Nasdaq Helsinki Ltd.