Wetteri paid off his bank loans

Car dealer Wetteri announces that it has paid off its interest-bearing, repayable bank loans for a total of 6.9 million euros.

Before this, the company had a bank loan for a total of 15.4 million euros. After payments, there are 8.5 million euros of bank loans left.

Wetteri has also paid off his interest-bearing account credits of eight million euros. Previously, Wetter had 18.5 million euros in bank credits. After completion, Wetter will have EUR 10.5 million in bank credits at its disposal, the use of which will pay interest.

At the end of last year, the company had various guarantees taken from financial companies related to Wetter’s business and the premises it leases for 12.6 million euros.

The guarantees are not shortened, but a commission is paid for them. In the company’s financial reporting, the guarantees are not included in the liabilities shown on the balance sheet, but are presented as off-balance sheet items, the release states.

The majority of the interest-bearing liabilities on Wetter’s balance sheet are related to warehouse financing for used cars, leasing financing for demonstration cars, and lease obligations for premises and equipment rented by the company.