Wetteri (WETTERI) Q3 2025 earnings summary

Executive summary

• Revenue for July–September 2025 rose 5% year-over-year to €107.1 million, with adjusted EBITDA at €4.0 million and adjusted operating profit at €0.1 million, but non-recurring costs led to an operating loss of €-5.3 million.

• For January–September 2025, revenue declined 4% year-over-year to €331.6 million, adjusted EBITDA was €8.6 million, and adjusted operating profit was €-2.7 million; operating profit was €-9.4 million.

• Non-recurring items, including €2.8 million in restructuring and management changes and €2.0 million in car stock revaluation, weighed on results.

• Sale of Wetteri Power Oy in January 2025 contributed €0.9 million profit for the period.

• Interest-bearing liabilities reduced by €35.5 million in January–September, improving the equity ratio to 19%.

Financial highlights

• Q3 2025 revenue: €107.1 million (+5% y/y); adjusted EBITDA: €4.0 million (+20% y/y); adjusted operating profit: €0.1 million (improved from €-0.3 million y/y).

• Q3 2025 operating profit: €-5.3 million (down from €-1.2 million y/y) due to non-recurring items.

• 9M 2025 revenue: €331.6 million (–4% y/y); adjusted EBITDA: €8.6 million (–15% y/y); adjusted operating profit: €-2.7 million (down from €-0.2 million y/y).

• 9M 2025 operating profit: €-9.4 million (down from €-3.8 million y/y).

• Profit for the period: €0.9 million, mainly from the sale of Wetteri Power Oy.

• Earnings per share (continuing operations, basic): €-0.09 for 9M 2025.

Outlook and guidance

• Profitability program launched in April 2025 targets €8 million annual improvement, with full effects expected in 2026.

• 2025 guidance withdrawn in May due to market uncertainty; new guidance to be considered after strategy update.

• Strategy update for 2026–2028 to be published in November 2025.

• Automotive industry forecasts 10% market growth in 2026, with government incentives expected to support low-emission vehicle sales.