Kamux Q2 revenue rises 6.7% as diesel weakness weighs on profit

Finnish auto retailer Kamux posted a 6.7% rise in second-quarter revenue on Tuesday, though profit declined as weaker demand for diesel vehicles and rising costs offset growth.

The company reported revenue of €220.4 million for the three months ended June 30, up from €206.6 million in the same period last year. Adjusted earnings before interest and taxes (EBIT) fell to €13.2 million, down from €15.7 million a year earlier, reflecting the impact of reduced diesel car sales and higher operating expenses.

Kamux attributed the profit decline to a 10% drop in diesel vehicle demand, which has weighed on margins amid a broader shift toward electric and hybrid models. The company also cited increased logistics and inventory costs as contributing factors to the weaker earnings performance.

Despite the challenges, Kamux maintained its full-year guidance, reaffirming its target for revenue growth of 5-10% and adjusted EBIT of €50-60 million. The retailer has expanded its used car operations across Finland and Sweden, focusing on higher-margin segments to offset diesel-related pressures.

Chief Executive Officer Jari Voutilainen said the company remains on track to meet its annual targets, emphasizing its strategy to adapt to evolving market preferences and cost pressures.