Wetteri (WETTERI) investor relations material

Executive summary

• Revenue for H1 2026 was €217.2M, down 3% year-over-year, with Q2 revenue stable at €109.4M as the market improved.

• Adjusted operating profit for H1 2026 was -€4.5M, a 59% decline from H1 2025, mainly due to tight used car market conditions, intense competition, and timing of new car deliveries.

• Cost-saving measures targeting €7.3M in annual savings were implemented, including organizational restructuring, personnel reductions, and network optimization.

• New car order backlog reached a record €70.3M, up 87% year-over-year, positioning for stronger H2 results.

• CEO Aarne Simula returned in June 2026, with renewed focus on passenger cars and operational efficiency.

Financial highlights

• H1 2026 revenue: €217.2M (H1 2025: €224.5M), -3% year-over-year.

• Adjusted operating profit: -€4.5M (H1 2025: -€2.8M), -59% year-over-year.

• Operating cash flow: €7.5M in H1 2026.

• Inventory turnover improved by 21% over the past 12 months; inventories reduced by €11.9M year-over-year.

• Interest-bearing debt decreased by €22.0M over the past 12 months; net debt at period end was €80.9M, down 21% year-over-year.

Outlook and guidance

• Revenue and adjusted operating profit are expected to grow and turn positive for the full year 2026.

• Strong new car order backlog, market recovery, and efficiency actions support a positive outlook for H2 2026.

• Cost-saving measures targeting €7.3M in annual savings have been implemented.