Inside information: Kamux closes down its operations in Germany

To strengthen long-term value creation, Kamux Corporation has decided to discontinue its operations in Germany as part of its strategy update. The seven showrooms operating in Germany will be closed and the approximately 500 cars in stock will be sold off by the end of 2026. The closure of the operations will affect approximately 70 employees.
 
Kamux has been operating in Germany since 2015. The company has not succeeded in turning its operations towards growth and profitability. In 2025, Kamux sold 4,906 cars in Germany and the revenue of the German operations was EUR 82.5 million, accounting for 9.4% of the Group’s revenue. The adjusted operating result for 2025 was EUR -3.6 million. For the period January–June 2026, the adjusted operating result was EUR -2.4 million.
 
Costs related to the closure of German operations are estimated to be approximately EUR 12–14 million in the fourth quarter of 2026, including costs arising from, among other things, long-term showroom network lease agreements, personnel impacts, and the accelerated realization of inventory. These costs will be presented as items affecting comparability in the adjusted operating result, as they do not represent business operations conducted under normal conditions.

After closing down its operations in Germany, Kamux will focus on operating in the Finnish and Swedish markets that offer the most favorable opportunities for profitable growth in the medium and long term. Kamux’s updated strategy will be published on November 12, 2026.
 
For more information, please contact:
Juha Kalliokoski, CEO, call requests tel. +358 10 420 8831
Enel Sintonen, CFO, call requests 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