Half Year 2024 Kamux Oyj Earnings Call Transcript
Key Points
- Kamux Corp (FRA:4K8) maintained a good margin on the cars sold despite a tightening sourcing market.
- Germany showed strong performance with top-line growth and improved profitability.
- Integrated services, including financial products and Kamux Plus guarantees, are back on track and improving.
- The company is enhancing its web store for better consumer experience, including easier access to hybrid and rechargeable car options.
- Kamux Corp (FRA:4K8) is taking measures to improve productivity and efficiency, including reducing the number of third-party partners to better manage costs.
- Operating profit decreased significantly, with a 40% decline due to tighter margins and inflated car-related costs.
- Sweden's performance was weak, particularly in June, impacting overall results.
- The company faced challenges in sourcing cars, affecting inventory levels and sales potential.
- Inflation has increased maintenance, service, and logistics costs, impacting profitability.
- There is a need for improvement in operational efficiency and addressing people-related costs.
Hello. Welcome to Kamux's Q2 results presentation and I have here our CEO. Tapio Pajuharju; our CFO, Jukka Havia, presenting the results. (Event Instructions) Let's begin.
Very good. Welcome onboard. And I think the headline tells it all it was not the drive in a park, but I think we also have many good things happening, and I will share where we are on that. That will also have a bit of a look on going forward.
All in all, I think we'll dive deeper on the Q2, then we'll have the market position bit about the strategy to work, then especially I think on the improving productivity and efficiency, we have some speeded matters happening and that's one of the new commercial finance and development. And together, we have the outlook and financial targets and then we have time for questions and comments going forward.
I think all in all, the sourcing market has been tightening
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