contentSlug

type

ContentSlug_ContentQuery

slug

ContentPageContentQuery

content

trendingContent

query ContentSlug_ContentQuery(
  $contentSlug: String!
  $type: [ContentType!]
) {
  ...ContentPageContentQuery_13QmVO
}

fragment CompanyDetails_Content on Content {
  __isContent: __typename
  companies {
    name
    description
    pageUrl
    id
  }
}

fragment ContentBasicInfo on Content {
  __isContent: __typename
  id
  type
  title
  lang
  companies {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  tags {
    viewerIsFollowing
    id
    name
    pageUrl
  }
  ...PublishingDetails
  ...Reactions
}

fragment ContentMetadata on Content {
  __isContent: __typename
  type
  title
  lang
  pageUrl
  alternatePageUrls: translations {
    __typename
    pageUrl
    lang
  }
  imgUrl
  description
  ... on Video {
    liveTime
    videoUrl
  }
  ... on Webcast {
    liveTime
    videoUrl
  }
}

fragment ContentPageContentQuery_13QmVO on Query {
  content(slug: $contentSlug, type: $type) {
    __typename
    id
    type
    title
    isPremium
    lang
    htmlBody
    summary
    companies {
      forum {
        latestPosts {
          ...ForumPosts
        }
      }
      name
      id
      viewerIsFollowing
      pageUrl
      defaultInstrument {
        isin
        id
        marketOpen
        marketClose
        marketplace {
          region
        }
        returns {
          total
        }
      }
    }
    tags {
      viewerIsFollowing
      id
      name
      pageUrl
    }
    createdAt
    ... on Video {
      liveTime
    }
    ... on Webcast {
      liveTime
    }
    slug
    ... on CompanyReport {
      reportUrl
    }
    ... on ThirdPartyCompanyReport {
      reportUrl
    }
    ... on StockExchangeRelease {
      reportUrl
    }
    ...ContentBasicInfo
    ...ContentMetadata
    ...PriceAndRecommendation_Content
    ...CompanyDetails_Content
    ...ReportLink_Content
    ...KeyFigures_Content
  }
  ...TrendingContent_1jQ2Cn
}

fragment ForumPosts on ForumPost {
  text
  likesCount
  url
  author
  postedAt
  authorImgUrl
}

fragment KeyFigures_Content on Content {
  __isContent: __typename
  companies {
    defaultInstrument {
      estimateData {
        modelType
        reportingCurrency
      }
      snapshot {
        transaction {
          date
          actualized {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
          estimates {
            year
            quarter
            revenue
            revenueGrowth
            ebitAdjusted
            ebitReported
            ebitda
            enterpriseValue
            epsAdjusted
            dividend
            dividendYield
            sharePrice
            nav
            navPerShare
            opexOfNav
            quarterlySharePrice
          }
        }
      }
      id
    }
    id
  }
}

fragment PriceAndRecommendation_Content on Content {
  __isContent: __typename
  createdAt
  companies {
    name
    pageUrl
    defaultInstrument {
      priceData {
        tradeCurrency
      }
      snapshot {
        priceData {
          date
          lastPrice
          tradeCurrency
        }
        transaction {
          date
          recommendation
          targetPrice
        }
        prevTransaction {
          recommendation
        }
      }
      id
    }
    id
  }
}

fragment PublishingDetails on Content {
  __isContent: __typename
  createdAt
  publishers {
    name
    imgUrl
  }
  authors {
    __typename
    id
    name
    slug
    imgUrl
    jobTitle
  }
  ... on Video {
    liveTime
  }
  ... on Webcast {
    liveTime
  }
}

fragment Reactions on Content {
  __isContent: __typename
  id
  reactionGroups {
    reactionType
    reactionsCount
    viewerReacted
  }
}

fragment ReportLink_Content on Content {
  __isContent: __typename
  type
  isPremium
  ... on CompanyReport {
    reportUrl
  }
  ... on ThirdPartyCompanyReport {
    reportUrl
  }
  ... on StockExchangeRelease {
    reportUrl
  }
}

fragment TrendingContent_1jQ2Cn on Query {
  trendingContent(type: ARTICLE) {
    __typename
    id
    title
    lang
    pageUrl
    createdAt
    type
    imgUrl
    companies {
      squareLogoUrl
      name
      id
    }
    authors {
      __typename
      imgUrl
      id
    }
    publishers {
      imgUrl
    }
  }
}


invitation-to-news-conference-kamux-corporation-publishes-its-financial-statements-bulletin-for-2025-on-february-25-2026

__typename

title

isPremium

lang

htmlBody

summary

companies

createdAt

publishers

authors

reactionGroups

pageUrl

translations

imgUrl

description

Kamux operates in the automotive industry. The company offers sales of used cars and related services within service, insurance and loan financing. Sales are made via the company's physical stores but also via the e-commerce platform. The largest operations are in the Nordic market. The company was founded in 2003 and has its headquarters in Hämeenlinna.

If a car has been in tax-exempt use, VAT is not deducted; instead, it falls under marginal taxation. Essentially, the 25.5% is paid on the margin between the purchase and sale price. A calculated depreciation can be applied. Marginal tax and open VAT are handled on separate accounts and cannot be offset against one another. If it’s open VAT, it is purchased (paid) at 0% VAT, and 25.5% is paid when sold here. These schemes have been used for ages, where the car is cycled through a front company (bulvaani) and sold onward under marginal taxation. This results in a 19% profit even if you sell it at the purchase price. There was a major case in the past involving mobile phones imported using this model. Nowadays, everything leaves a trail, so you’ll get burned eventually. These are not the car dealerships’ doing, but they will likely face repercussions as well.                   Moottori – 17 Feb 26              Viranomaistoimia kohdistunut suureen autokauppaketjuun – taustalla...    Moottorin saamien tietojen mukaan viranomaiset ovat tehneet helmikuun alussa toimenpiteitä käytettyjä tuontiautoja myyvän autokauppaketjun toimipisteissä.

Others have likely been wondering why Kamux’s share price has dropped 10% in a week or two. The reason is likely that the tax authorities, customs, and police are putting pressure on the largest import car dealers due to possible VAT maneuvering. A car dealership can import a car from Germany with German 19% VAT, provided the car has been owned by a private individual there for at least 6 months (the tax authority’s interpretation of tax law). In other words, if a dealership buys a VAT-deductible car, it should be imported at 0% VAT, and then the full 25.5% VAT should be paid in Finland upon sale. The difference is 6.5% of the purchase price, and this is exactly what piques the interest of car dealers… Saka, Kamux, Rinta-Jouppi, and other major importers of used cars are likely involved in this mess. I heard about this at a Neste corner table and through the attached TikTok video. Suomen käytettyjen autojen arvonlisäverotuksen tutkimus | TikTok

Maybe in Finland, we’ll have to compensate for weak purchasing power by settling for used? I have a 7-month-old car coming from Germany, which is nearly 20% cheaper than a corresponding new one in Finland (all costs included). I’ll have to put it on Autovex as a test once I get it on Finnish plates to see what its market price is here, because there don’t seem to be similar ones for sale that are so lightly used.

Finland is a developing country in car sales, at least regarding new ones.  You’d think there would be plenty of potential for Kamux’s import of good used cars.  In Q4/25, 3.85x more units were sold in Sweden than in Finland.  The figures for Norway and Denmark are even stronger relative to their population.  Quite unbelievable. Thanks to Sampo for the good table.

The issue stems from the fact that in private sales between individuals, the seller does not have the same responsibilities as car dealerships do. This is a significant advantage when dealing with cheap clunkers worth a few thousand, and this is where the car trade is shifting as people’s purchasing power weakens.  Samasta syystä taas kalliimpi auto ostetaan liikkeestä, koska oletetaan että sieltä saa varmuudella ehyen tai jos on joku vika niin se korjataan myyjän piikkiin. Osa ketjuista pyrkii tosin tätä mielikuvaa romuttamaan parhaansa mukaan… Conversely, for the same reason, more expensive cars are bought from dealerships because it is assumed that you are guaranteed to get one in good condition, or if there is a fault, it will be fixed at the seller’s expense. Though some chains are doing their best to ruin this perception…

So, I started wondering how Saka sees competition tightening specifically at the end of the year? Why?  Currently, all the major car dealerships are already investing in used cars, small dealerships are closing down, and consumer-to-consumer trade is growing. Maybe consumer-to-consumer trade is the “boogeyman” in question? Car dealerships must be able to offer cars at competitive prices and with more affordable financing so that consumer-to-consumer trade doesn’t continue its growth & prosperity.  This requires further efficiency improvements, in my opinion especially on the back-office side, if we consider Kamux… especially in Sweden and Germany.

Saka released a press release today regarding the outlook for the used car market; for some reason, I haven’t found it online yet, but regarding this year’s outlook, Saka’s points were:   The market is growing because few new cars have been/are being sold, and there is therefore strong demand for relatively new (3–5 year old) used cars.   Competition will tighten towards the end of the year.   The importance of imported cars continues to grow in order to meet domestic demand.   We predict that prices will remain stable.   The point of the release was mainly to advertise that it’s a good time to buy a used car from Saka, so perhaps it shouldn’t be taken too seriously, but the points sound quite reasonable. Stable prices and a growing market are good for used car dealers if they materialize, while tightening competition (even further) is naturally a negative.

Kamux

Kamux Corporation | Press Release | February 18, 2026 at 12:00:00 EETKamux Corporation will publish its Financial Statements Bulletin for 2025 on Wednesday, February 25, 2026, at approximately...

<div class="mfn-header mfn-header-finland">Kamux Corporation | Press Release | February 18, 2026 at 12:00:00 EET</div><div class="mfn-body">Kamux Corporation will publish its Financial Statements Bulletin for 2025 on Wednesday, February 25, 2026, at approximately 9:00 EET. The report will be available at <a rel="noopener" href="http://www.kamux.com">www.kamux.com</a> after publishing. &nbsp; News conference for investors, analysts and media will be held on Wednesday, February 25, 2026, at Sanomatalo, Flik Studio Eliel, 1st floor, Töölönlahdenkatu 2, Helsinki at 11:00 EET. CEO Juha Kalliokoski and CFO Enel Sintonen will present the Results. &nbsp; The conference can be followed as a live webcast at <a rel="noopener" href="https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fkamux.events.inderes.com%2Fq4-2025&amp;data=05%7C02%7Ciida.suominen%40kamux.fi%7C61f1d4a79c584cbd63d308de5cb63563%7C04de423c20cd4874b5e6af2f2dc7d76c%7C0%7C0%7C639050134838341072%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=0twRpwpH2wUYLvLfLK25wkqc8fcCElBc94HAeBmFCo0%3D&amp;reserved=0">https://kamux.events.inderes.com/q4-2025</a>. &nbsp; Pre-registration for the on-site news conference is requested. Registrations by February 23, 2026, by email to <a rel="noopener" href="mailto:ir@kamux.fi">ir@kamux.fi</a>. &nbsp; Participation by conference call: &nbsp; 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. &nbsp; <a rel="noopener" href="https://eur03.safelinks.protection.outlook.com/?url=https%3A%2F%2Fevents.inderes.com%2Fkamux%2Fq4-2025%2Fdial-in&amp;data=05%7C02%7Ciida.suominen%40kamux.fi%7C61f1d4a79c584cbd63d308de5cb63563%7C04de423c20cd4874b5e6af2f2dc7d76c%7C0%7C0%7C639050134838358029%7CUnknown%7CTWFpbGZsb3d8eyJFbXB0eU1hcGkiOnRydWUsIlYiOiIwLjAuMDAwMCIsIlAiOiJXaW4zMiIsIkFOIjoiTWFpbCIsIldUIjoyfQ%3D%3D%7C0%7C%7C%7C&amp;sdata=YRr0DrmFGBSLdiMGjkSo7LOqrO1Wa3p4EN0DGkehZYU%3D&amp;reserved=0">https://events.inderes.com/kamux/q4-2025/dial-in</a> &nbsp; For further information, please contact: Katariina Hietaranta, Head of Communications, Sustainability and Investor relations, tel. +358 10 420 8831 &nbsp; Kamux Corporation Communications &nbsp; 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 68 car showrooms in Finland, Sweden and Germany. Since its founding in Hämeenlinna, Finland, in 2003 the company has sold almost 600,000 used cars, 66,548 of which were sold in 2024. Kamux’s revenue in 2024 was EUR 1,010 million and its average number of employees was 904 in terms of full-time equivalent employees. Kamux Corporation is listed on Nasdaq Helsinki Ltd. For more information, please visit&nbsp;<a rel="noopener" href="http://www.kamux.com/">www.kamux.com</a></div>