Kamux’s updated strategy for 2024–2026 and long-term targets
Kamux Corporation, Stock Exchange Release, 20.3.2024 at 9:00
Kamux’s updated strategy for 2024–2026 and long-term targets
Kamux Corporation organizes a Capital Markets Day today, March 20, 2024, starting at 14:00 EET, where the company presents its updated strategy for 2024−2026 and long-term targets.
Kamux operates in the European used car market, which is large and generally very stable, and still very fragmented. Market consolidation is driven by, for example, more and more customers choosing to buy a used car from a large, well-known and trustworthy operator. The size of and changes in the market offer excellent growth opportunities for Kamux, which is a professionally managed international retail chain focusing on used cars and related integrated services and offering its customers an excellent service experience through its omnichannel business model.
Kamux's updated strategy is anchored to placing the customer at the core of all activities and improving operational efficiency as well as profitable growth, which is facilitated by these two measures. The company can accelerate organic growth with acquisitions as well as by building strategic partnerships. Kamux's vision is to be the number one used car retailer in Europe, and this is achieved by strengthening Kamux's concept and processes, as well as by developing the showroom network and selection.
The key development areas for customer experience in the new strategy period are the development of the car offering to better meet the needs of customers; fair, centrally driven prices; standardized and transparent inspection reports; improving the seamless customer experience across all channels; and innovative and hassle-free services within the mobility space. Correspondingly, the key development areas for operational efficiency are utilizing the Group’s power in sourcing; a more centralized and standardized car inspection, reconditioning and sales process; and a central data-assisted pricing and sourcing process. All of these will ensure systematic and sustainable operations in line with the Kamux concept.
Kamux’s long-term targets are:
- Number of sold cars: 100,000 pcs per year
- Revenue growth: Revenue EUR 1.5 billion
- Profitability of the business: Adjusted operating profit margin 4%
- Customer satisfaction: NPS (Net Promoter Score) 60
- Employee well-being: eNPS (employee Net Promoter Score) 40
The Capital Markets Day can also be followed as a live webcast at https://kamux.videosync.fi/2024-cmd. Questions for the speakers can be submitted through the webcast environment. A recording of the webcast and the presentation materials will be available at www.kamux.com after the event.
For more information, please contact:
CEO Tapio Pajuharju, tel. +358 50 577 4200
CFO Jukka Havia, tel. +358 50 355 3757
Head of Communications & IR Katariina Hietaranta, tel. +358 50 557 6765
Kamux Corporation
The Board of Directors
Kamux is a retail chain specialized in 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 a total of 78 car showrooms in Finland, Sweden and Germany. Since its founding in Hämeenlinna, Finland, in 2003, the company has sold over 500,000 used cars, 68,257 of which were sold in 2023. Kamux’s revenue in 2023 was EUR 1,002 million and its average number of employees was 885 in terms of full-time equivalent employees. Kamux Corporation is listed on Nasdaq Helsinki Ltd. For more information, please visit www.kamux.com
