Wetteri Oyj: Insider information, profit warning: Wetteri Plc lowers its financial guidance for the current year

Wetteri Plc is lowering its financial guidance for 2024 as the company's October results fell short of expectations. Additionally, the company anticipates that the November and December results will be lower than expected.

Old financial guidance for 2024

· Turnover EUR 520-640 million

· Adjusted operating profit EUR 12.8 - 15.6 million

The company's medium-term (3 years) objective is to achieve a turnover of EUR 1,000 million and an operating profit of EUR 30 million.

New financial guidance for 2024

· Turnover EUR 510-520 million

· Adjusted operating profit EUR 5,5-6,5 million

The company's medium-term (3 years) objective is to achieve a turnover of EUR 1,000 million and an operating profit of EUR 30 million.

The company will issue new guidance for 2025 during December 2024. 

By the end of November, just under 68,000 new passenger cars were registered nationwide, approximately 17 percent less than during the same period last year. Registrations of vans decreased by about 12 percent over the same time frame. In October, 14 percent fewer new vehicles were registered compared to the previous year, while in November the decline was around 7 percent. 

Since the beginning of the year, the number of new vehicle orders has been approximately 14 percent higher than during the same period last year. For 2025, the automotive industry estimates the car market will grow by about 10 percent compared to the current year's level.