Now that Kamux is apparently starting to buy back its own shares today, one must be careful not to dump one’s own shares into the market when demand for the share slightly improves.
I also looked at Kamux’s Q3 materials, interviews, etc., and this is a classic case of running aground and being in a deadlock. I have encountered the exact same thing in my own professional life. That is, someone far from the customer interface decides that the margin (usually some margin percentage or unit price) will be significantly adjusted and an overly challenging target is set. The end result is that the topline suffers, and then both the margin and operating profit in euros decrease when deals are not made due to poor price competitiveness. Fixed costs continue their course, and in Kamux’s case, there are simply more of them per completed car sale.
Even in Kamux’s case, the gross margin per car had improved, but the most important thing, the bottom line, suffered badly.
Now Kalliokoski explained that Kamux needs to be steered with big movements of the wheel, well, now at least the front end crashed into the inner bank.
Pajuharju was accustomed to Harvia’s pricing power, but Kamux DOES NOT have similar.
Used car dealers sell the same products, and their prices are easy to compare.