Kamux builds processing centre and showroom in Oulu – strategic real estate investment to boost growth goals
Kamux Corporation Press Release May 3, 2021 at 15:30 (EEST)
Kamux builds processing centre and showroom in Oulu – strategic real estate investment to boost growth goals
“Kamux has traditionally operated in rental properties, but as we announced on Capital Markets Day in March, in future Kamux may also own properties in accordance with our strategy. A car processing centre serving the Nothern Finland will be built on the future property owned by Kamux in Oulu, and it will also combine our current Oulu commercial vehicle showroom and Oulu Rusko passenger car showroom under one roof,” says Juha Kalliokoski, CEO of Kamux.
The processing centre will enable efficient and more accurate handling of cars, such as inspections, repairs, sales preparations and logistics.
“The industrialisation of processes will serve customers, providing a wider selection and comprehensive and high quality car information, which helps build transparency and trust. We will offer our customers a selection of approximately 300 cars in the Oulu showroom and Kamux’s total selection of approximately 5,000 cars,” says Kalliokoski.
The future Oulunportti property will be 4,000 m2 in size and is due to be completed in early 2022.
“According to IFRS 16, ownership of a property does not significantly increase the balance sheet compared to a leased property. The amount of Oulunportti’s real estate investment is approximately EUR 5 million. Property ownership is not an end in itself; it serves our strategic goals and growth ambition. Investing in the processing centre enables the long-term development of operations in accordance with our strategic priorities,” says CFO Marko Lehtonen.
More information:
Juha Kalliokoski, CEO
Tel. +358 40 185 8633
Marko Lehtonen, CFO
Tel. +358 50 575 2006
ir@kamux.fi
Kamux Corporation is a retail chain specializing in the sale of used cars and related integrated services that has grown rapidly. Kamux combines online shopping with an extensive showroom network to provide its customers with a great service experience anytime, anywhere. In addition to digital channels, the company has total of 78 car showrooms in Finland, Sweden and Germany. Since its founding, the company has sold approximately 300,000 used cars, 60,657 of which were sold in 2020. Kamux’s revenue reached EUR 724.1 million in 2020. In 2020, Kamux’s average number of employees was 713 in terms of full-time equivalent employees. The shares of Kamux are listed on the Nasdaq Helsinki stock exchange.
www.kamux.com