Wetteri Plc insider information 14 May 2025 at 9.40 p.m. EET
Wetteri Plc issues a profit warning and withdraws its previously issued financial guidance for 2025. The reason for this is the weak earnings development in the first half of the year and the increased uncertainty in the automotive market.
In the first half of the year, used car sales have been clearly weaker than expected, and new car registrations have fallen short of the level estimated by the automotive industry forecast group. Predictability for the sale of new cars has become more difficult, especially due to the uncertainties brought about by the planned car tariffs.
Based on the growth prospects of the automotive sector, growth of about 10 per cent was still forecast for 2025 at the end of 2024. However, during January-April 2025, the number of new passenger car registrations was 6.7 per cent lower than in the corresponding period of the previous year.
The company has started the process of updating its strategy and will reassess the provision of guidance once the strategy work has been completed.
At the same time, Wetteri has started a profitability program with the aim of improving profitability by EUR 8 million annually. The effects of the programme are expected to be fully realised during 2026.
Despite the profit warning, the company's result for the financial year 2025 is expected to be clearly better than in the previous year due to the positive effects of the Wetteri Power divestment.
More info on:
Aarne Simula, CEO, Wetteri Plc
Tel. 0400 689 613, aarne.simula@wetteri.fi
Pietu Parikka, Chief Financial Officer and Chief Operating Officer, Wetteri Plc
Tel. 050 344 2886, pietu.parikka@wetteri.fi
Wetteri Plc - an entrepreneur-driven growth company in the automotive industry
Wetteri Plc is an entrepreneur-driven growth company in the automotive industry. In addition to the retail trade of passenger, commercial and heavy-duty vehicles, the company provides maintenance and damage repair services ranging from passenger cars to heavy-duty vehicles. The company has 35 offices in Finland, and its head office is located in Oulu. The company employs approximately 800 people, of whom approximately 76% work in maintenance and damage repair services. Wetteri is a promoter of the digitalisation of the automotive industry and an important player in the joint journey towards emission-free driving. More information: www.sijoittajat.wetteri.fi.
