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2024-05-14 07:00:00 CEST 2024-05-14 07:00:01 CEST REGLERAD INFORMATION Martela Oyj - Interim report (Q1 and Q3)Martela Corporation's Interim Report 1 January - 31 MarchMartela Corporation, Interim report, 14.5.2024, at 08:00 a.m. The January–March 2024 revenue and operating result decreased compared to corresponding period in the previous year. January–March 2024
Outlook Outlook for 2024 Key figures, EUR million
Ville Taipale, CEO: The Group's new orders decreased some 8 % in the first quarter compared to the corresponding period in the previous year. In the first quarter, orders increased in Finland and decreased in Sweden, in Norway and in the group “Others”. Our operating result decreased in the first quarter compared to the same period last year and was EUR -2.2 (-1.8) million. Despite the strikes, productivity and operational efficiency improved compared to the comparison period, but their impact could not fully compensate for the significant decrease in revenue. The measures announced during the review period concerning streamlining and reorganisation of operations have been completed, but their efficiency improvement effects will mainly only materialise from the second quarter onwards. The implementation of the reorganisation resulted in additional costs during the review period. Naturally the reorganisation also aims to improve the service experience of Martela's customers. Major changes are underway in the ways of working and thus in working environments, which are expected to increase demand for Martela's products and services as a whole. The pandemic accelerated and permanently changed the meaning of the office. Companies are looking for more attractive and diverse working environments, while more and more attention is paid to home office furnishings and ergonomics. We will continue to lead the way, in collaboration with our customers, in creating the best and more flexible work environments that improve employee experience, efficiency, innovation and lower total cost of ownership. We respond to our customers' increased demand for flexibility with our "Workplace as a Service concept”, which we have continued to develop actively. Interest in the service model has been encouraging and we expect the service model to have a positive impact on the development of our business. In addition, our ongoing digital development project will enable us to bring even more diverse sales channels to our offering in the future. The entire personnel is committed to the determined implementation of the strategy, which provides a good foundation for the future.” Market situation Economic development in the Nordic countries was modest in the first quarter of 2024, which was also reflected in the prudent purchasing decisions of Martela's customers. The market situation is expected to remain challenging also towards the end of 2024, but to improve slightly towards the end of the year. Uncertainty about the development of interest rates and the timing of a possible downward trend in interest rates increases uncertainty. However, market uncertainty and simultaneous changes in the way of working is likely to create demand for Martela's change services. Premises will be modified to meet the needs of multi-location hybrid work and investments will be made in their attractiveness. BRIEFING A briefing will not be held, but additional information can be asked by telephone from CEO Ville Taipale and CFO Henri Berg on Tuesday May 14, 2024 from 12 a.m. to 2 p.m. EET. Martela Corporation Ville Taipale Further information Distribution 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. Attachment ![]() |
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