Brief: Kamux Lowers Its 2022 Outlook

Kamux Oyj

30/12/2022 09:04

Dec 30 (Reuters) - Kamux Oyj  KAMUX.HE :
    * INSIDE INFORMATION, PROFIT WARNING: KAMUX LOWERS ITS
OUTLOOK FOR
THE YEAR 2022
    * LOWERS ITS OUTLOOK FOR YEAR 2022 REVENUE AND OPERATING
PROFIT
DUE TO WEAKER THAN EXPECTED SALES AND CAR SALES MARGIN DURING Q4
    * DEMAND FOR KAMUX'S USED CARS CONTRACTED SIGNIFICANTLY MORE
THAN
EXPECTED IN ALL OPERATING COUNTRIES DURING Q4
    * IN 2022, KAMUX EXPECTS ITS REVENUE TO BE OVER EUR 950
MILLION
    * CONTRACTION IN DEMAND IS DUE TO LOW CONSUMER CONFIDENCE,
CAUSED
BY WAR IN UKRAINE AND ITS EFFECTS, SUCH AS ENERGY CRISIS
    * EXPECTS ITS ADJUSTED OPERATING PROFIT TO BE APPROXIMATELY
EUR
16-20 MILLION
    * MARGIN ON CAR SALES WAS SIGNIFICANTLY LOWER THAN EXPECTED
DUE TO
WEAK DEMAND AND MEASURES TAKEN TO ADJUST INVENTORY TO MEET
DEMAND
    * PREVIOUS 2022 OUTLOOK: REVENUE OF AT LEAST EUR 1,000
MILLION,
ADJUSTED OPERATING PROFIT OF ABOUT EUR 23-26 MILLION

Source text for Eikon:  ID:nWkr1JvD3W 
Further company coverage:  KAMUX.HE 
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