MARTELA CORPORATION’S INTERIM REPORT 1 JANUARY – 31 MARCH
May 05 2023 - 12:30AM
MARTELA CORPORATION’S INTERIM REPORT 1 JANUARY – 31 MARCH
The January–March 2023 revenue and operating result decreased
compared to previous year.
January–March
2023
- Revenue was EUR 24.1 million (27.0), representing a change of
-10.8%
- Operating result was EUR -1.8 million (0.1)
- Operating profit per revenue was -7.5% (0.4%)
- The result for the period was EUR -2.2 million (0.0)
- Earnings per share amounted to EUR -0.49 (-0.01)
Outlook
Outlook for 2023
Martela anticipates its revenue to stay on same level as in 2022
and operating result to be positive.
Key figures, EUR million
|
2023 |
2022 |
Change |
2022 |
|
1-3 |
1-3 |
% |
1-12 |
Revenue |
24.1 |
27.0 |
-10.8 % |
106.7 |
Operating result |
-1.8 |
0.1 |
|
2.5 |
Operating result % |
-7.5 % |
0.4 % |
|
2.3% |
Result before taxes |
-2.1 |
-0.1 |
|
1.3 |
Result for the period |
-2.2 |
0.0 |
|
2.6 |
|
|
|
|
|
Earnings/share, EUR |
-0.49 |
-0.01 |
|
0.57 |
|
|
|
|
|
Return on investment % |
-24.1 |
2.5 |
|
9.1 |
Return on equity % |
-17.3 |
-0.4 |
|
20.8 |
Equity ratio % |
24.9 |
23.6 |
5.8 % |
24.7 |
Gearing % |
82.1 |
67.8 |
21.1 % |
58.6 |
Ville Taipale, CEO:“The uncertainty in the
market that started last year continued also in the first quarter
this year. Impact from this was reflected also to Martela’s
operating envirmonment. Our revenue decreased to EUR 24.1 million
in the first quarter which was 10.8 % lower compared to the same
period last year. New orders in the first quarter decreased in all
other market areas except in “Others” compared to the same period
last year. Our operating result decreased in the first quarter
compared to the same period last year and was EUR -1.8 million.
Operating result was negatively impacted especially by decrease in
revenue. It was also impacted by investments into future growth and
increased depreciations.First quarter this year was challenging due
to the uncertainty in the market. We have invested into development
of our sales and customer experience, so that we can in the future
better respond to market conditions. We have started a project
where we can in the future bring digital sales channels into our
offering. I am also pleased that Mr. Kimmo Hakkala joined as our
new VP Sales and Marketing and member of the Management Team in
February.War in Ukraine and uncertainty caused by it still has a
negative impact on the overall market situation as well as raw
material prices altough early sign of stabilisation in raw material
price can be seen. Increases in inflation and interest rates will
also have impact on the market situation. It is difficult at
this point to evaluate the impact on our revenue and result
performance in the mid-term.We believe that working environments
will change permanently in the future. The coronavirus pandemic has
accelerated the process of changing the way we work. The office is
just one of many places where we work, and for some the amount of
remote work will increase for good. This will increase the demand
for multipurpose working spaces and the need to invest in remote
working conditions. We will continue, together with our customers,
to be a forerunner in creating user-centric working environments,
which will improve user experience, efficiency and innovation
capabilities, as well as lower overall costs. We will meet our
customers’ needs for increased flexibility in workplace with our
Workplace as a Service concept, which we have piloted and actively
further developed during last winter. Interest towards our concept
has been encouraging and we expect it to have a positive impact on
our business.”
Market situation
The war in Ukraine has brought uncertainty to the market and
caused radical price increases in raw materials as well as
restricted supply of materials. In addition, rapid increase in
inflation and interest rates has also negatively impacted the
market. It is too early to say which impacts these will have on the
overall market in the
mid-term.
BRIEFING
A briefing will not be held, but additional information can be
asked by telephone from CEO Ville Taipale and CFO Kalle Lehtonen on
Friday May 5, 2023 from 12 a.m. to 2 p.m. EET.
Martela Corporation Board of Directors
Ville Taipale CEO
Further information Ville Taipale, CEO, +358 50 557
2611Kalle Lehtonen, CFO, +358 400 539 968
Distribution Nasdaq OMX Helsinki Key news media
www.martela.com
Martela is a Nordic leader specialising in user-centric working
and learning environments. We create the best places to work and
offer our customers the Martela Lifecycle solutions which combine
furniture and related services into a seamless whole.
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