Kamux Corporation's Half Year Report for January 1—June 30, 2026: Revenue increased and adjusted operating result decreased, significant change in demand for different powertrains
Kamux Corporation | Half Year Report | August 12, 2026 at 09:00:00 EEST
This is a summary of Kamux Corporation’s Half Year Report for January 1—June 30, 2026. The complete report is attached to this release and is also available at the company website at www.kamux.com.
The figures in parentheses refer to the comparison period, i.e., the same period in the previous year, unless stated otherwise.
April–June 2026
- Revenue increased by 6.7%, totaling EUR 219.2 million (205.5)
- Gross profit was EUR 20.8 million (24.0), or 9.5% (11.7) of revenue
- Adjusted operating profit (EBIT) was EUR 0.6 million (2.9), or 0.3% (1.4) of revenue
- Operating profit (EBIT) was EUR 0.3 million (1.7), or 0.1% (0.8) of revenue
- The number of cars sold increased by 8.3% to 14,310 cars (13,208)
- Basic and diluted earnings per share were EUR 0.00 (0.00)
January–June 2026
- Revenue decreased by 3.2%, totaling EUR 424.3 million (438.1)
- Gross profit was EUR 39.8 million (42.1), or 9.4% (9.6) of revenue
- Adjusted operating result (EBIT) was EUR -0.4 million (0.9), or -0.1% (0.2) of revenue
- Operating result (EBIT) was EUR -0.7 million (-0.9), or -0.2% (-0.2) of revenue
- The number of cars sold increased by 0.5% to 28,037 cars (27,902)
- Basic and diluted earnings per share were EUR -0.03 (-0.10)
Key Figures
| EUR million | 4−6/2026 | 4−6/2025 | Change, % | 1−6/2026 | 1−6/2025 | Change, % | 1−12/2025 |
| Revenue | 219.2 | 205.5 | 6.7% | 424.3 | 438.1 | -3.2% | 875.9 |
| Gross profit | 20.8 | 24.0 | -13.3% | 39.8 | 42.1 | -5.4% | 85.3 |
| as percentage of revenue, % | 9.5% | 11.7% | 9.4% | 9.6% | 9.7% | ||
| Operating result (EBIT) | 0.3 | 1.7 | -84.6% | -0.7 | -0.9 | 17.9% | 0.6 |
| as percentage of revenue, % | 0.1% | 0.8% | -0.2% | -0.2% | 0.1% | ||
| Adjusted operating result | 0.6 | 2.9 | -79.3% | -0.4 | 0.9 | -144.1% | 3.3 |
| as percentage of revenue, % | 0.3% | 1.4% | -0.1% | 0.2% | 0.4% | ||
| Revenue from integrated services | 12.8 | 13.0 | -1.7% | 25.5 | 26.2 | -2.8% | 53.2 |
| as percentage of revenue, % | 5.8% | 6.3% | 6.0% | 6.0% | 6.1% | ||
| Number of cars sold | 14,310 | 13,208 | 8.3% | 28,037 | 27,902 | 0.5% | 57,518 |
| Gross profit per sold car, EUR | 1,453 | 1,815 | -20.0% | 1,420 | 1,509 | -5.9% | 1,483 |
| Net debt | 49.5 | 61.6 | -19.6% | 33.7 | |||
| Inventories | 119.8 | 123.3 | -2.8% | 100.2 | |||
| Inventory turnover, days | 51.9 | 54.1 | -4.1% | 51.8 | |||
| Capital expenditures | 0.1 | 2.8 | -95.7% | 0.4 | 3.9 | -89.9% | 5.6 |
| Average number of employees during the period | 756 | 838 | -9.8% | 820 | |||
| Return on equity (ROE), % | 0.4% | -0.6% | -2.1% | ||||
| Return on investment (ROI), % | 1.7% | 1.7% | 0.8% | ||||
| Equity ratio, % | 49.9% | 48.6% | 53.5% | ||||
| Earnings per share, basic and diluted, EUR | 0.00 | 0.00 | -98.7% | -0.03 | -0.10 | 66.5% | -0.06 |
CEO Juha Kalliokoski:
“The used car market remained sluggish in the second quarter in all of Kamux's operating countries. Consumer confidence rose from a weak level towards the end of the quarter, but it was not yet reflected in used car sales. The impact of the crisis in Middle East on fuel prices significantly weakened demand for diesel cars and lowered their prices and margins. At the same time, demand for electric cars strengthened especially in Finland and Sweden, where the EV charging network is comprehensive. In the second quarter, 40 percent of all used cars sold by dealerships in Finland were rechargeable. Competition remained fierce in all operating countries, and changes in the demand for different powertrains strongly affected the purchasing market.
At Kamux, we worked systematically on inventory turnover in the second quarter. The rapid change in demand for different powertrains in a tightly competitive market made purchasing as well as inventory turn and structure more challenging. Focusing on inventory turnover brought results and the number of cars sold increased at the Group level. The number of cars sold increased in Sweden and Germany. In Sweden, we are now starting to see the results of our work on the basics in the quarterly figures as well. In Finland, the number of cars sold was at the comparison period’s level and we reclaimed our position as the largest used car dealer in Finland in terms of number of cars sold in both the second quarter and the first half of the year. Sales of EV’s increased in all operating countries compared to the comparison period, although the growth does not yet cover the volumes lost due to the weak demand for diesel cars. Revenue from integrated services decreased slightly. The Group's revenue grew due to the increase in the number of cars sold, but the effects of the rapid change in the demand for different powertrains were visible in profitability. Profitability across all operating countries was significantly weakened by the rapid decline in diesel car selling prices, resulting in a decrease in gross margin. Considering the market situation, inventory turnover was overall at a good level.
As part of the ongoing review of the showroom network, we decided at the end of the second quarter to tighten the network in Germany and to centralize the operations in the Hamburg area into one showroom. The Ahrensburg and Stade showrooms were closed at the end of June, and their personnel, cars and operations were transferred to the Nedderfeld showroom.
We continued our long-term work on excellent customer experience. The Net Promoter Score, NPS, which measures customer satisfaction, was 66 in the second quarter of 2026. In Finland, we have succeeded in maintaining excellent customer service and NPS for June was again 70. Satisfied customers are the foundation of our business, and we will continue to invest in customer experience.
A big thank you again to all Kamux employees for their good work and commitment in this ever-changing market. We would also like to thank our customers for their feedback and trust. We will continue our work on the basics, focusing on improving operational efficiency, inventory turnover and profitable business. At the same time, we have set our sights further into the future and have begun updating our strategy.”
Outlook for the year 2026
Kamux expects its adjusted operating profit for 2026 to increase from the previous year.
Significant events after the reporting period
There were no significant events after the reporting period.
Financial reporting in 2026
The publication schedule for Kamux Corporation’s financial reporting in 2026 is as follows:
- Interim Report for January—September 2026 November 12, 2026
News conference
News conference for investors, analysts and media will be held today, Wednesday, August 12, 2026, as a live webcast, at 11:00 EEST. CEO Juha Kalliokoski and CFO Enel Sintonen will present the Half Year Report.
The webcast can be followed at https://kamux.events.inderes.com/q2-2026.
Participation by conference call:
You can access the teleconference by registering on the link below. After the registration you will be provided with a phone number and a conference ID to access the conference. If you wish to ask a question, please dial #5 on your telephone keypad to enter the queue.
https://events.inderes.com/kamux/q2-2026/dial-in
For further information, please contact:
Juha Kalliokoski, CEO, call requests, tel. +358 10 420 8831
Enel Sintonen, CFO, call requests, tel. +358 10 420 8831
Katariina Hietaranta, Head of Communications, Sustainability & Investor relations, tel. +358 10 420 8831
Kamux Corporation
Communications
Kamux is a retail chain specialized in used cars and related integrated services. 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 64 car showrooms in Finland, Sweden and Germany. Since its founding in Hämeenlinna, Finland, in 2003 the company has sold over 600,000 used cars, 57,518 of which were sold in 2025. Kamux’s revenue in 2025 was EUR 875.9 million and its average number of employees was 820 in terms of full-time equivalent employees. Kamux Corporation is listed on Nasdaq Helsinki Ltd. For more information, please visit www.kamux.com