The company claims that the forecast for 2022 has been negatively impacted by much lower fourth-quarter sales than anticipated and a reduced margin on car sales.

Kamux, a manufacturer of used cars, has given a profit warning for this year. In terms of revenue and operating profit, Kamux deteriorates its chances.

Kamux anticipates sales of more than 950 million euros in 2022. The business projects that the adjusted operating profit will be between 16 and 20 million euros.

The adjusted operating profit was predicted to be between 23 and 26 million euros, while the turnover was predicted to exceed 1 billion euros.

According to the company’s press statement, fourth-quarter turnover and operating profit are more than anticipated due to much lower than anticipated sales and a lower margin on car sales.

In all of the company’s operational nations, demand for used automobiles declined in the fourth quarter much more than was anticipated.

According to the company’s press statement, the reason for the fall in demand is a deterioration in consumer confidence brought on by the conflict in Ukraine and its consequences, notably the energy crisis.

Weak demand and changes made to the inventory to fulfill demand both had an impact on the lower-than-expected margin on automobile sales.

The earnings caution caused a significant decline in the company’s stock. Friday’s closing of the Helsinki Stock Exchange saw a 15.35% decline in the share price.

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