Q3 2024 Kamux Oyj Earnings Call Transcript
Key Points
- Kamux Corp (OHEL:KAMUX) has strengthened its capabilities in the sourcing arena by acquiring Web Cars Logistics from Sweden, enhancing its car sourcing operations.
- The company has formed a long-term strategic partnership with Sector Automotive, providing access to a significant fleet of well-maintained and branded cars, which is expected to improve their market offering.
- Kamux Corp (OHEL:KAMUX) has been successful in increasing the average sales price of its cars, focusing on a younger fleet with lower mileage and more electric and hybrid vehicles.
- The company has maintained and increased margins on financing services, indicating a strong performance in this area.
- Kamux Corp (OHEL:KAMUX) is actively working on cost efficiency improvements, with a program targeting EUR 5 million to EUR 7 million in savings, which is progressing well in network and people-related areas.
- Kamux Corp (OHEL:KAMUX) experienced a tough quarter with a nearly 1% decline in top-line revenue and decreased gross and operating profits.
- The company faced significant challenges in Sweden, with a more than 20% decline in volume, impacting overall performance.
- There was a cybersecurity incident in Germany resulting in a EUR 300,000 loss due to fraud, highlighting vulnerabilities in their processes.
- Inventory levels in Sweden and Germany were higher than optimal, leading to write-downs and impacting financial performance.
- The company has faced challenges in standardizing car-related processes, which has delayed expected cost savings and improvements in operational efficiency.
Very good midmorning to everyone. My name is Katariina Hietaranta and I'd like to welcome you to Kamux Corporation's quarter three results presentation.
After the presentation, we shall take questions first via the teleconference line and then from the audience as well as via the chat. So please feel free to use those. Now, I hand over to CEO Tapio Pajuharju and CFO Yuko Javier to present the results.
On board.
And I think today we have not one of our best quarters and I think the headline tells it quite straight and fair, but I think behind the headline, we have lots of good actions, good of good things happening in the marketplace. And today we'll have a deep dive on where we are, where we are heading. And what do we have in the plan is to make it, make it better going forward.
We'll have a deeper look on the Q3. Then we'll have a couple of events and actions
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