Car trading company Weather calculates its financial guidelines for 2024.
Wetter’s previous instructions included business arrangements and their impact on profit and turnover. According to the company, the realization of the profit and turnover effects will be shifted over time.
“The profitability of Wetter’s operations has been affected by the historically weak and more difficult than expected market situation for new cars: The first registrations of new cars in 2024 will be around 75,000, while in the spring the forecast was about 80,000 new passenger cars,” the company says in a press release.
According to the new guidelines, the company estimates that its turnover will be 520–640 million euros and adjusted operating profit 12.8–15.6 million euros this year.
In the previous guidance, the company estimated that its net sales will be 660–800 million euros and the adjusted operating profit will be 19–23 million euros this year.
There has been no change in the company’s growth strategy and Wetteri continues to promote corporate restructuring. Wetteri has launched an efficiency program to improve the profitability of operations. The program includes the reorganization of functions and the elimination of overlaps, as well as the adjustment of the use of labor. In addition, the use of office premises has been improved.