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Kamux Oyj: Kamux Corporation's Interim report for January-September 2018

22.11.2018 klo 09:00 Kamux Oyj: Kamux Corporation's Interim report for January-September 2018



Kamux Corporation         Interim Report                November 22, 2018 09:00

Kamux Corporation's Interim report for January-September 2018

KAMUX'S profitable growth continued during JULY-SEPTEMBER 2018

The  figures in parenthesis refer to the comparison period, i.e. the same period
in the previous year, unless otherwise mentioned.

July-September in brief

- The number of cars sold increased by 13.4% to 12,564 cars (11,083)

- Revenue increased by 14.6%, totaling EUR 140.0 million (122.1)

- Gross profit increased by 17.4% to EUR 18.0 million (15.3), or 12.8% (12.5) of
revenue

- Adjusted operating profit (EBIT) increased by 7.2% to EUR 6.6 million (6.2),
or 4.7% (5.1) of revenue

- Operating profit (EBIT) increased by 8.3% to EUR 6.6 million (6.1), or 4.7%
(5.0) of revenue

- Earnings per share were EUR 0.16 (0.12)

- Like-for-like showroom revenue growth was 4.2% (-3.2)

January-September in brief

- The number of cars sold increased by 15.4% to 35,376 cars (30,663)

- Revenue increased by 16.5%, totaling EUR 396.7 million (340.6)

- Gross profit increased by 19.8% to EUR 48.9 million (40.8), or 12.3% (12.0) of
revenue

- Adjusted operating profit (EBIT) increased by 14.5% to EUR 17.5 million
(15.3), or 4.4% (4.5) of revenue

- Operating profit (EBIT) increased by 15.5% to EUR 15.0 million (13.0), or
3.8% (3.8) of revenue

- Earnings per share were EUR 0.28 (0.25)



CEO Juha Kalliokoski:

"During  the third quarter, Kamux's growth  continued in line with our strategy,
and  our profitability was at a good level. Revenue increased by 14.6% and gross
profit increased by 17.4 %.

In  Finland, the changes to vehicle taxation based on WLTP emissions testing had
a  negative impact on the sales of new cars. This also had an impact on sales of
used  cars and consumer behavior.  In view of the  current market situation, our
accomplishments  in the  quarter were  good. In  Finland, we opened showrooms in
Lempäälä  in Ideapark  in July  and in  Järvenpää in  November. We will open our
third showroom in Oulu in January.

Our  international expansion  is progressing  according to  plan. We  opened our
12th showroom  in  Sweden  in  Västerås  and  our  third  showroom in Germany in
Ahrensburg.  In  addition  we  will  open  three  showrooms in Sweden and one in
Germany during this year and in the beginning of next year.

We  have  further  strengthened  Kamux's  management  to  support our growth and
profitability.  On  October  1, 2018, Jennie  Stenbom  assumed  her  position as
Kamux's  Chief  People  Officer  and  Member  of the Management Team. On October
29, 2018, Ilkka  Virtanen assumed his position as Director, Business Development
and  Member of  the Management  Team. Virtanen  is responsible for the company's
strategic development projects and business development."

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 with an operating
profit  margin of  4-5% in 2019 and  to reach  an operating  profit margin of at
least 5% in the long term.

Key figures

                           7-9/   7-9/             1-9/   1-9/            1-12/
 EUR million               2018   2017 Change, %   2018   2017 Change, %   2017
-------------------------------------------------------------------------------
 Revenue                  140.0  122.1     14.6%  396.7  340.6     16.5%  454.9

 Gross profit              18.0   15.3     17.4%   48.9   40.8     19.8%   53.8

 as percentage of
 revenue, %               12.8%  12.5%            12.3%  12.0%            11.8%

 Operating profit (EBIT)    6.6    6.1      8.3%   15.0   13.0     15.5%   16.2

 as percentage of
 revenue, %                4.7%   5.0%             3.8%   3.8%             3.6%

 Adjusted operating
 profit*                    6.6    6.2      7.2%   17.5   15.3     14.5%   18.6

 as percentage of
 revenue, %                4.7%   5.1%             4.4%   4.5%             4.1%

 Revenue from integrated
 services                   6.8    5.8     17.0%   19.3   16.8     14.9%   22.8

 as percentage of
 revenue, %                4.8%   4.7%             4.9%   4.9%             5.0%

 Number of cars sold     12,564 11,083     13.4% 35,376 30,663     15.4% 40,957

 Gross profit per sold
 car, EUR                 1,431  1,381      3.6%  1,382  1,332      3.8%  1,314

 Sales growth of like-
 for-like showrooms, %     4.2%  -3.2%             7.3%  -7.2%            -4.9%

 Net debt                                           4.3    8.7    -50.5%    7.3

 Inventories                                       66.4   54.6     21.5%   55.2

 Inventory turnover,
 days                                              49.1   45.9      6.9%   46.8

 Capital expenditures       0.2    0.2    -38.6%    0.6    0.8    -27.8%    1.2

 Average number of employees
 during
  the period                                        456    432      5.6%    418

 Return on equity (ROE),
 %                                                21.7%  24.9%            26.6%

 Return on investment
 (ROI), %                                         15.7%  16.8%            17.2%

 Equity ratio, %                                  56.4%  56.8%            57.2%

 Earnings per share,
 basic, EUR                0.16   0.12     25.8%   0.28   0.25     12.5%   0.30




*  Operating profit  adjusted for  special items  related to  strategy planning,
strategy   implementation,   geographical  expansion  and  taxes  from  previous
financial  years as well as the costs  related to the initial public offering in
the  comparison period, totaling EUR 0.0 million  for the third quarter of 2018
and  totaling EUR 2.5 million 1-9/2018 (7-9/2017: EUR 0.1 million, 1-9/2017: EUR
2.3 million and 1-12/2017: EUR 2.4 million).

Publication schedule for financial reporting in 2019

Publication schedule for Kamux Corporation's financial reporting in 2019:

March  1, 2019: Kamux Corporation will publish its Financial Statements Bulletin
2018.

May  10, 2019: Kamux Corporation  will publish  its Interim  Report for January-
March 2019.

August  23, 2019: Kamux  Corporation  will  publish  its  Half-Yearly Report for
January-June 2019.

November 8, 2019: Kamux Corporation will publish its Interim Report for January-
September 2019.

The  Annual Report for 2018 including Financial  Statements will be published in
week 12/2019.

The  Annual General  Meeting of  Kamux Corporation  is scheduled  to be  held on
Friday, April 12, 2019.


Interim Report press conference and webcast

Kamux will hold an Interim Report press conference for media and analysts today,
November  22, 2018 at  hotel  GLO  Kluuvi,  Video  Wall  meeting  room,  address
Kluuvikatu  4, Helsinki, at 13:00 (Finnish time) in  Finnish and then in English
at  around 13:30. You  can follow  the press  conference live  through a link at
http://www.kamux.com/en/releases-and-publications/reports-and-presentations/.
The  Interim Report  will be  presented by  CEO Juha  Kalliokoski and  CFO Tapio
Arimo.



In Hämeenlinna on November 22, 2018

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 Otala, Director of Communications

Tel. +358 400 629 337


Kamux Oyj_Interim Report_Q3_2018_FINAL:
http://hugin.info/172240/R/2226580/873857.pdf



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accuracy and originality of the information contained therein.

Source: Kamux Oyj via GlobeNewswire
http://www.kamux.fi/
GlobeNewswire