The management sets an example. Kalliokoski bought an additional 550,000 euros worth of shares for his Christmas present.
https://www.inderes.fi/fi/tiedotteet/kamux-oyj-kamux-oyj-johdon-liiketoimet-10
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A board member still scraped a slice.
At Kamux, insiders bought over a million shares in 2018 on top of already substantial holdings.
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âŠand additionally, the Trafi register mess at the end of the year
â Well, thatâs an interesting Q4 coming up.
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https://twitter.com/kamuxsuomi/status/1087356277670449152
Keeping the workforce happy 
Edit: Apparently, encouraged by the previous one, some employee decided to commit big time to the job 
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Kamux seems to be doing quite well. I bought it for my portfolio at around 6 euros and added a bit more at 5.6-5.7 euros.
From the quarterly report presentation, I got the impression that there had been some difficulties in Sweden, but that a working recipe had been found and Germany had been opened promisingly.
It also seems that stores have been opening at a nice pace and the management has been buying shares. I imagine this will also become a decent dividend payer in my portfolio in a few years. Weâll see if thereâs a need to add more. The position has been opened, however.
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Kamuxâs Updated Financial Targets:
Kamuxâs new mid-term annual financial targets are:
* Revenue growth over 10%
* Operating profit margin at least 4%
* Dividend at least 30% of net profit
Kamuxâs previous mid-term financial target was to grow revenue to at least EUR 700 million with an operating profit margin of 4-5 percent in 2019 and at least 5 percent operating profit margin in the long term, and to distribute at least 30 percent of net profit as dividends.
Kamux does not publish short-term outlooks.
âThe company continues its profitable growth. We are determinedly executing our strategy, and our internationalization is progressing. Our vision is to be Europeâs #1 used car retailer,â says Kamux CEO Juha Kalliokoski.
The market didnât seem to believe in that EUR 700 million revenue for 2019, so its reduction shouldnât be a big surprise.
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It appears Kamux is lowering its financial targets by reducing its 2019 revenue guidance. The long-term operating profit target was also lowered.
From a valuation perspective, this is a âvalue warningâ 
At least for Kesko, sales of used cars seemed to go well despite Trafiâs confusion at the end of the year:
The year for car sales was successful overall, even though the WLTP emission measurement method caused significant disruptions to car sales across Europe at the end of the year. Porscheâs development was particularly strong, with its first registrations growing by over 60% in Finland. SEATâs and Volkswagenâs market shares also strengthened. The industryâs operating profit improved, influenced by stable sales development in maintenance, aftermarket, and used cars. During the year, we also launched new mobility services, such as leasing products and car-sharing services, and electric car charging points in connection with K-stores, which enables increasing customer flows across industry boundaries. We expect the market disruption caused by WLTP to normalize by the end of the first quarter of the current year. The car trade strategy is based on comprehensive cooperation with the worldâs leading car manufacturer, the Volkswagen Group, in accordance with which the selection will be expanded this year to include the Bentley model range.
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Does anyone else think this is currently priced cheaply?
@Verneri_Pulkkinen is Kajaani still shouting at your coffee table âbuy, buy Kamux at five and a half now that you can get itâŠâ?
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I havenât bought this one, but the pricing seems very affordable considering the multiples.
I donât know if you noticed, but I added Kamux to Verkkisâs peer group in the last report. The companies have surprisingly much in common: both have an agile business model that revolves around low prices and efficient inventory turnover, and a significant portion of their earnings comes from financing services.
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Haha, you shouldnât take whatâs âshoutedâ in the office as a permanent indicator. 
Yu bought some a while ago, according to the buy/sell thread. I guess the theses havenât changed.
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Kamux is an aggressive market conqueror
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The used car market last year was predictably stable.
âIn 2018, 630,078 used cars were registered as sold in Finland, of which 571,544 were passenger cars. Growth compared to 2017 was a modest 0.3%.â
https://m.nettiauto.com/artikkeli/vaihtoautokauppa_suomessa_vuonna_2018
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Iâm just wondering, whatâs currently priced into Kamuxâs share price? Growth has been pretty decent, but the stock price has fallen.
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Q3 video from the fall. Note: after the video was shot, the share price dropped another 10%!
From around 8 minutes 30 seconds, this topic is discussed a bit. In my opinion, Inderesâ view has remained unchanged since this video, and Kamux itself refined its outlook closer to Inderesâ forecast in January.
Based on the video, Kajaani is waiting for the market to wake up to cheap pricing⊠Also, the stockâs poor liquidity and unsexy/poorly reputed industry cause it to âfly under the radarâ?
Perhaps next week Iâll grab another slice, waiting for TPâŠ
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I bet there will be an upward correctionâŠ
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Iâm hopeful. Kamux is my most recent significant purchase. I started buying at around 6 euros and continued at 5.7.
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By the way, Kamux Q4 press conference tomorrow. This is the last webcast of the earnings season on InderesTV unless thereâs another surprise 
https://www.inderes.fi/fi/videot/kamux-q42018-tilinpaatostiedote-132019-klo-1100-alkaen
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