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Kamux aims for an ambitious leap of growth towards nearly doubling revenue
Strong revenue growth defines our strategy, which aims for nearly doubling our revenue during 2021―2023. The market offers an attractive opportunity for expansion and growth. Profitability development during the strategy period is built on business growth and scalability.
Vision
Kamux’s vision is to be the number one in used car retail in Europe.
The company’s strategic focus areas are:
Omnichannel customer experience and services
Efficient processes and scalability
Utilizing data and leading with knowledge
Developing capabilities and continuous learning
Financial targets 2021―2023
Kamux’s medium-term financial targets are:
The Board of Directors of the Company estimates annually the balance between dividends to be distributed and funds to be used for Kamux’s growth and based on this assessment, makes a proposal on the amount of dividends to be distributed, which may for any single year differ significantly from the target level set in the dividend policy.
Outlook for the year 2023 (updated on March 6, 2023)
In 2023, Kamux expects its adjusted operating profit to grow from the year 2022, when the adjusted operating profit was EUR 17.5 million.
Although Kamux’s business is not exposed to immediate Russia-related risks, the war in Ukraine and its effects have weakened consumer confidence. This has led to a strong contraction in the demand for used cars in all Kamux’s operating countries from March 2022 onwards. The weakened demand and the measures taken to address the inventory to match the current demand have also had a negative impact on Kamux’s profitability.
Demand for Kamux’s used cars contracted significantly more than expected in all operating countries during the fourth quarter 2022. The contraction in demand is due to low consumer confidence, caused by the war in Ukraine and its effects, such as the energy crisis. In addition, Kamux’s margin on car sales was significantly lower than expected due to weak demand and the measures taken to adjust the inventory to meet the demand.
https://www.kamux.com/en/share-information/dividend/