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Disclaimer

Access to the information and documents on this website is restricted for regulatory reasons. You are requested to review the following information and make the following confirmation each time you access this restricted information.

THESE MATERIALS ARE NOT DIRECTED AT OR ACCESSIBLE BY ANY PERSONS LOCATED IN AUSTRALIA, CANADA, HONG KONG, JAPAN, NEW ZEALAND, SOUTH AFRICA, SINGAPORE, THE UNITED STATES OR ANY OTHER JURISDICTION IN WHICH IT WOULD BE UNLAWFUL.

This website and the information contained herein are not intended for, and must not be accessed by, or distributed or disseminated to, persons resident or physically present in the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or Singapore, and do not constitute an offer to sell or the solicitation of an offer to buy or acquire, any shares, rights or other securities of the Company in the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa, Singapore or any other country in which it would be contrary to the laws and regulations of that country.

These materials are not an offer for sale of securities in the United States. The shares, rights or other securities of the Company referred to on this website have not been and will not be registered under the U.S. Securities Act of 1933, as amended, and may not be offered or sold in the United States absent registration or an applicable exemption from registration thereunder.

Access to the information and documents contained on the following websites may be illegal in certain jurisdictions, and only certain categories of persons may be authorized to access such information and documents. All persons residing outside of the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or Singapore who wish to have access to the documents contained on this website should first ensure that they are not subject to local laws or regulations that prohibit or restrict their right to access this website, or require registration or approval for any acquisition of securities by them. The Company assumes no responsibility if there is a violation of applicable law or regulations by any person.

This information is only being distributed to and is only directed at (i) persons who are outside the United Kingdom or (ii) to investment professionals falling within Article 19(5) of the Financial Services and Markets Act 2000 (Financial Promotion) Order 2005 (the “Order”) or (iii) high net worth companies, and other persons to whom it may lawfully be communicated, falling within Article 49(2) of the Order (all such persons together being referred to as “relevant persons”). Any investment activity to which this document relates will be only available to, and will be engaged in only with, relevant persons. Any person who is not a relevant person should not act or rely on this document or any of its contents.

By clicking on the link below, I confirm that I have read, understand and agree to comply with all of the restrictions set forth above and that my country of residence and current location is not the United States, Australia, Canada, Hong Kong, Japan, New Zealand, South Africa or Singapore or any other jurisdiction in which such a distribution or such access is unlawful.

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Enthusiasm for work

Enthusiasm for work

Fair salary and benefits

Kamux strives to compensate its employees in a fair and equal way. Our goal is to have a transparent and motivating remuneration model, in which a salesperson’s compensation consists of a basic salary and a performance-based pay. Performance-based compensation is tied to the number of cars sold, profit and the sales of integrated services. The compensation model is developed in open interaction with Kamux’s sales personnel.

Kamux paid a total of EUR 28 million in salaries to the personnel in 2019. The amounts of salaries paid was 28.5 percent higher than in 2018, while the revenue increased by 24.8 percent in the financial year 2019.

Safety and well-being

Kamux operates in accordance with the employees’ rights defined by the International Labor Organization (ILO), country-specific labor legislation as well as the United Nations’ Universal Declaration of Human Rights. In 2019, we carried out a survey on work satisfaction and well-being. The results in Finland remained at the same level as in the previous survey (2017), the overall score being 3.93. The results in Sweden and Germany improved significantly: the overall score was 4.16 in Sweden and 3.96 in Germany. The survey clearly shows our successful efforts put in the work of immediate supervisors and functioning work community. Kamux’s results exceed those of the control group in the wholesale and retail trade.

In 2020, we will pay special attention to monitoring the working capacity and resources of our personnel. These are advanced, for example, by offering monthly webinar trainings for managers and new tools for employees to improve work performance, and by developing our training portal.

At Kamux, most work is performed in showrooms or office premises, where workplace accidents are rare. The most typical accidents in our operations result from slipping or stumbling. We aim at zero accidents leading to absence from work. During 2019, a total of 14 accidents occurred that led to absence from work. No serious workplace accidents occurred in 2019.

We aim to influence the number of absences due to sickness with, for instance, an early support model. The goal is to prevent challenges related to working ability at the earliest stage possible. The overall health percentage of our personnel was 67, which means that approximately two thirds of our employees were not absent from work due to sickness during the year. The health percentage increased from the previous year and was at a good level according to the company’s estimate. Kamux’s occupational health care partner is Terveystalo.

 

Diversity

Kamux is a responsible employer and aims to treat all employees equally, respecting their privacy, religious freedom as well as freedom of association and collective bargaining.

We aim to build an even more diverse work community. The number of languages used in sales work reflects our cultural diversity. In 2019, Kamux employees served theircustomers in 27 different languages. Converted to person-years, we employed an average of 595 (472) people during 2019, of which 91 percent were male (90) and 9 percent were female (10).

We support and accelerate young people’s access to working life by offering car sales work right after graduating from school, or by offering summer jobs to students. We also extend careers by employing senior citizens in car delivery tasks. In 2019, our youngest employees were 15-year-old summer workers, and our oldest employees were 81-year-old car couriers.

Talent development

A skilled and committed personnel is the key enabler of our long-term international success. We want to be a fair, inspiring and motivating employer every day. In 2019, we put a more systematic focus on the training of our sales personnel and managers in particular, so that every new Kamux employee is in the best possible position to succeed in their work.

The Kamux training center continued to operate in a more focused manner. We developed sales training methods and materials and launched a web portal to support learning. Kamux sales personnel training includes classroom teaching sessions, a learning and task module in the web portal and an on-the-job learning period in a showroom. A total of 98 percent of our new salespeople completed the Kamux training program for new sales personnel in 2019. A full-scale version of the e-learning portal will be deployed in 2020. In the future, we will be able to monitor the scope, learning progress and results of the online trainings in more detail. In 2020, the trainings will also reflect the development discussions we hold with each Kamux employee, in order to provide trainings which are even more tailored for each employee’s development needs.