Kamux raises its revenue outlook for 2021 to EUR 850‒900 million, outlook for adjusted operating profit remains unchanged

Kamux Corporation                   Inside information                     September 24, 2021 at 09:00am

Kamux raises its revenue outlook for 2021 to EUR 850‒900 million, outlook for adjusted operating profit remains unchanged

Kamux updates its outlook for 2021. The company raises its revenue outlook for 2021, while maintaining its outlook for adjusted operating profit unchanged.

The rationale for updating the outlook is, above all, the strong growth during the first half-year, the favorable development of Kamux’s car sales during the third quarter, and the increased average price of sold cars during 2021. The company also estimates that the positive development of Kamux’s business will continue during the rest of the year despite the uncertainty caused by the corona pandemic.

Kamux’s updated outlook for 2021 is as follows:

In 2021, Kamux expects its revenue to be EUR 850‒900 million. The company expects its adjusted operating profit to increase from the previous year.

Previously, Kamux expected its revenue to reach EUR 800‒850 million in 2021 and its adjusted operating profit to increase from the previous year.

The uncertainty concerning the continuing of the corona pandemic, virus variants and their effect on the economy in different countries continues, which causes uncertainty regarding Kamux’s outlook for 2021 as well.

 

For 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

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