Kamux Oyj: Kamux Corporation's Interim Report for January-March 2018

Kamux Corporation         Interim Report                                May 24, 2018 09:00

Kamux Corporation's Interim Report for January-March 2018

KAMUX'S STRONG GROWTH CONTINUED IN JANUARY-MARCH 2018

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

First quarter in brief

- The number of cars sold increased by 17.3% to 11,379 cars (9,698)

- Revenue increased by 17.8%, totaling EUR 128.7 million (109.3)

- Gross profit increased by 16.5% to EUR 14.6 million (12.5), or 11.3% (11.5) of revenue

- Adjusted operating profit (EBIT) increased by 3.5% to EUR 4.8 million (4.6), or 3.7% (4.3) of revenue

- Operating profit (EBIT) increased by 39.6% to EUR 4.8 million (3.4), or 3.7% (3.1) of revenue

- Earnings per share were EUR 0.08 (0.07)

- Like-for-like showroom revenue growth was 8.8% (-6.9%)

CEO Juha Kalliokoski:

"Kamux's strong growth continued during the first quarter of 2018. I am especially pleased with our growth and profitability improvement in Sweden.

Our internationalization continues according to our strategy. In January, we started operating in expanded showroom premises in Jönköping. In Finland we expanded our showroom network by opening a new showroom in Savonlinna.

Our organization was strengthened at the beginning of the year, when Robin Toss, country director of Sweden, and Oliver Michels, country director of Germany, started in their positions. Mikko-Heikki Inkeroinen joined us in February as our Chief Digital Officer, focusing on Kamux's customer experience and digital business development.

Operating profit improved and like-for-like showroom revenue grew. We are on the right path in these areas. Revenue growth was the strongest we have seen during our time as a publicly listed company.

All in all I am satisfied with the way the year has started. We continue to resolutely execute our strategy towards our targets."

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

* Operating profit adjusted for special items related to strategy planning, strategy implementation and geographical expansion as well as the costs related to the initial public offering in the comparison period, totaling EUR 0.0 million for the first quarter of 2018 (1-3/2017: EUR 1.2 million and 1-12/2018: EUR 2.4 million).

Publication schedule for financial reporting in 2018

Kamux will publish its Interim Reports and Half-Year Financial Report in 2018 as follows:

August 23, 2018: Kamux Corporation will publish its Half-Year Financial Report for January-June 2018.

November 22, 2018: Kamux Corporation will publish its Interim Report for January-September 2018.

Interim Report press conference and webcast

Kamux will hold an Interim Report press conference for media and analysts today, May 24, 2018 at hotel GLO Art, meeting room Torni, address Lönnrotinkatu 29, 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/tiedotteet-ja-julkaisut/raportit-ja-esitykset/. The Interim Report will be presented by CEO Juha Kalliokoski and CFO Tapio Arimo.

In Hämeenlinna on May 24, 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