Wetteri (WETTERI) Q4 2025 earnings summary

Executive summary

• Revenue for 2025 was €434.1M, down 3% year-over-year, with stable performance despite a challenging market.

• Adjusted operating profit was -€6.4M, a decline from -€0.8M year-over-year, with adjusted EBITDA at €8.9M (down 32%).

• Net profit improved to €4.3M from a loss of €7.1M in the previous year, mainly due to divestments and operational adjustments.

• The year was marked by restructuring, divestments, and a focus on operational efficiency and inventory turnover, reducing interest-bearing liabilities by €43.5M and strengthening the equity ratio to 21%.

Financial highlights

• Revenue for 2025 was €434.1M, nearly flat compared to €447.3M in 2024, down 3% year-over-year.

• Adjusted EBITDA was €8.9M (down from €13.1M in 2024).

• Adjusted operating profit was -€6.4M, a decline from -€0.8M.

• Net profit turned positive at €4.3M, up €11.4M from the previous year, driven by one-time gains from divestments.

• Inventory turnover improved, with inventories reduced by €22.2M to €55.8M, and interest-bearing debt decreased by €43.5M to €84.8M.

Outlook and guidance

• Revenue and adjusted operating profit are expected to grow and turn positive in 2026.

• Strategic targets for 2026–2028 include annual organic revenue growth above 10%, adjusted operating profit at 3% of revenue, and an equity ratio of at least 25%.