Finland's Kamux Q3 revenue rises on EV demand

Overview

• Finland used car retailer's Q3 revenue rose 3.3% yr/yr

• Adjusted EBIT for Q3 fell 66.5% yr/yr

• Company to buy back up to EUR 3 mln in shares, about 5% of total shares

Outlook

• Kamux expects 2026 adjusted operating profit to decrease from the previous year

• Company targets above-market growth in units for 2027–2029

• Kamux aims for adjusted operating profit margin of 3% in 2029

Result Drivers

• MARKET CONTRACTION - CEO said used car market contracted in all operating countries, with the sharpest decline in Sweden

• DIESEL CAR WEAKNESS - High fuel prices reduced demand and prices for diesel cars, leading to lower margins per car

• EV SALES GROWTH - Demand for electric vehicles remained strong, with EV and hybrid sales rising in all markets

Company press release:

Key Details

Analyst Coverage

• The current average analyst rating on the shares is "sell" and the breakdown of recommendations is no "strong buy" or "buy", no "hold" and 2 "sell" or "strong sell"

• The average consensus recommendation for the auto vehicles, parts & service retailers peer group is "buy."

• Wall Street's median 12-month price target for Kamux Oyj is €1.45, about 12.1% above its November 11 closing price of €1.29

• The stock recently traded at 19 times the next 12-month earnings vs. a P/E of 17 three months ago

Reuters Recommended Reads

• Nov 11 - UK's Motorpoint H1 revenue rises 6% on record retail volumes

• Nov 11 - Martela Q3 revenue falls on weak Nordic demand

• Nov 10 - Scandic Hotels Q3 sales meet estimates on strong demand; expects higher occupancy, rates in Q4

For questions concerning the data in this report, contact Estimates.Support@lseg.com. For any other questions or feedback, contact reuters.support@thomsonreuters.com.

(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)