Kamux Q2 EBIT Falls to EUR0.6 Million as Diesel Demand Drop Cuts Margins
Updated
Updated · Yahoo Finance · Aug 12
Kamux Q2 EBIT Falls to EUR0.6 Million as Diesel Demand Drop Cuts Margins
1 articles · Updated · Yahoo Finance · Aug 12
Summary
Adjusted EBIT dropped to EUR0.6 million in Q2 from a four-quarter improvement streak, while gross margin fell to EUR20.8 million from EUR24 million despite higher car sales and revenue.
A sharp diesel demand slump drove the margin hit: Finland's used diesel supply jumped 50% to more than 12,000 cars, pushing Kamux to clear inventory at lower margins.
Sweden partly offset the pressure with 40% revenue growth, but Germany remained weak and Kamux closed two Hamburg-area showrooms after long-term negative operating results.
Net debt improved to EUR49.5 million and the equity ratio stayed near 50%, helping Kamux keep full-year guidance unchanged even as management says Q3 inventory mix will be critical.
The results came against shrinking used-car markets across all operating countries, with Q2 market volumes down 2.4% in Finland, 1.4% in Sweden and 3.2% in Germany.