Kamux to move business from Varkaus to other showrooms in the region, closing down in Varkaus

Kamux to move business from Varkaus to other showrooms in the region, closing down in Varkaus

PR Newswire

HELSINKI, Dec. 22, 2021

HELSINKI, Dec. 22, 2021 /PRNewswire/ -- Kamux will relocate the business activity of its showroom in Varkaus to other Kamux showrooms in the region, and the Varkaus showroom will be closed down.

"The decision is linked to Kamux's strategy. As we have announced earlier, in the future Kamux will focus on larger showrooms, which will support, among other things, our purchasing activities and processes related to the inspection and processing of cars. In our strategy period 2021-2023, Kamux is aiming to accelerate growth so, in principle, closing or reducing existing stores is not part of our plans, but the Varkaus showroom is very small with only a 70-car inventory and Kamux has a very strong and extensive showroom network in the region. We are able to serve our customers well through our network of stores in Kuopio, Mikkeli, Iisalmi, Joensuu and Jyväskylä, and this is of course supported by our home delivery concept," says CEO Juha Kalliokoski.

In Kuopio and Jyväskylä, alongside passenger cars Kamux has a comprehensive selection of commercial vehicles, and in both cities the showroom capacity has recently been expanded with additional space, so the total number of cars on sale will not be affected.

"Kamux is not looking to reduce staff. We are offering our Varkaus salespeople a job in the nearby dealership of their choice. As a growth company, we're pleased to be able to offer our employees interesting job and career opportunities within the company," says Kalliokoski.

The Varkaus showroom business will be transferred to other dealerships around the beginning of 2022.

For more information, please contact:

Juha Kalliokoski, CEO, Kamux Corporation, tel. +358 40 185 8633

Satu Otala, Communications Director, tel. +358 40 164 5036

ir@kamux.com

Kamux Corporation is a retail chain specializing in the sale of used cars and related integrated services that has grown rapidly. 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 total of 79 car showrooms in Finland, Sweden and Germany. Since its founding, the company has sold almost 400,000 used cars, 60,657 of which were sold in 2020. Kamux's revenue reached EUR 724.1 million in 2020. In 2020, Kamux's average number of employees was 713 in terms of full-time equivalent employees. The shares of Kamux are listed on the Nasdaq Helsinki stock exchange.

www.kamux.com

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