Inside Information: Adjusting Wetteri Plc’s financing agreement

Wetteri Plc Inside Information 14 February 2024 15.30 EET

In a financing agreement between Wetteri Plc group’s Themis Holding Oy subgroup and the financing bank, there are covenants that measure the amount of interest-bearing net debt divided by 12-month EBITDA and the equity ratio.

Based on unaudited figures, the covenants are not met in all respects. Wetteri has started negotiations with the financing bank on updating the conditions regarding the covenant clause of the financing agreement. The financing under the financing agreement (EUR 14.7 million) is treated in the financial statements as current liability in accordance with IAS 1.74. In the 2022 financial statements, the funding (EUR 9.8 million) under the financing agreement was also treated as current liability in accordance with IAS 1.74.

Additional information:

Aarne Simula, CEO and President, Wetteri Plc
Tel. +358 400 689 613,

Panu Kauppinen, CFO, Wetteri Oyj 
Tel. +358 44 236 3740,

Wetteri Plc – An Entrepreneur-Driven Automotive Growth Company

Wetteri Plc is an entrepreneur-driven growth company in the automotive sector. The company engages in the retail sales of passenger cars, commercial vehicles, and heavy vehicles, and produces maintenance and repair shop services for vehicles, from passenger cars to heavy vehicles. Headquartered in Oulu, the company has 46 locations in Finland. The company employs around 1000 people, of whom nearly 70% work in maintenance and repair services. Wetteri promotes digitalisation in the automotive sector and is an important player on the common journey towards emission-free motoring. More information: