Wetteri (WETTERI) Q3 2025 earnings summary

Executive summary

• Q3 2025 saw significant changes, with revenue and adjusted operating profit increasing year-over-year, making it the best quarter of 2025 for continuing operations, but non-recurring costs led to an operating loss of €-5.3 million.

• Organizational restructuring and leadership changes were implemented to improve efficiency and profitability, including new CEO and CFO appointments.

• One-time restructuring and inventory revaluation costs weighed on reported profit.

• 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; operating profit: €-5.3 million due to non-recurring items.

• Revenue for Q1–Q3 2025 was €331.6 million, down from €346.1 million year-over-year.

• Adjusted operating profit for Q1–Q3 2025 was €-2.7 million, compared to €-0.2 million a year earlier.

• 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

• 2025 earnings guidance was withdrawn in May due to increased market uncertainty; new guidance will be considered after strategic review.

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

• Updated strategy for 2026–2028 to be published in November 2025, with further details at the November 27, 2025, capital markets day.

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