Industria
Inside information, profit warning: Kamux lowers its outlook for the year 2024
Kamux lowers its outlook for the year 2024 due to significantly lower than expected sales and the subsequent operating loss in Sweden in the third quarter. Kamux now expects the adjusted operating profit for 2024 to be EUR 15 -17 million. Previously Kamux expected its adjusted operating profit for 2024 to exceed its 2023 adjusted operating profit, which was EUR 18.0 million .
The corrective actions that are related to the misconduct that was detected in Sweden in the second half of 2023 have had a bigger than expected impact on Kamux's sales. In the third quarter of 2024, external revenue in Sweden was approximately EUR 45 million , when it was EUR 57.3 million in the third quarter of 2023. Due to the weak sales, adjusted operating profit for the third quarter in Sweden is significantly negative which has a substantial negative impact on the Group's adjusted operating profit. Several actions have been taken to improve productivity and efficiency in Sweden , yet they will have a positive impact on profitability only in 2025.
Kamux expects the adjusted operating profit for 2024 to be EUR 15 -17 million.
Kamux expects its adjusted operating profit for 2024 to exceed its 2023 adjusted operating profit, which was EUR 18.0 million .
Kamux publishes the interim report for January- September 2024 on Friday, November 8, 2024 .
For more information:
Tapio Pajuharju, CEO, tel. +358 50 577 4200
Jukka Havia , CFO, tel. +358 50 355 3757
Kamux Corporation
Communications
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