GlobeNewswire by notified

Martela Corporation’s Interim Report 1 January – 31 March


Martela 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           

  • Revenue was EUR 20.2 million (24.1), representing a change of -16.0%
  • Operating result was EUR -2.2 million (-1.8)
  • Operating profit per revenue was -11.0% (-7.5%)
  • The result for the period was EUR -2.7 million (-2.2)
  • Earnings per share amounted to EUR -0.60 (-0.49)


Outlook for 2024
Martela anticipates its revenue to increase in full-year 2024 compared to previous year and operating result to be positive.

Key figures, EUR million

Revenue 20.2 24.1 -16.0 % 94.4
Operating result -2.2 -1.8 22.7 % -2.4
Operating result % -11.0 % -7.5 % -2.5 %
Result before taxes -2.5 -2.1 -3.3
Result for the period -2.7 -2.2 23.4 % -3.5
Earnings/share, EUR -0.60 -0.49 21.9 % -0.77
Return on investment % -31.9 -24.1 -7.5
Return on equity % -32.8 -17.3 -31.3
Equity ratio % 17.0 24.9 -31.7 % 20.0
Gearing % 203.4 82.1 147.7 % 137.2

Ville Taipale, CEO:
“As in the previous year, market uncertainty and weak economic development continued in the first quarter of this year, especially in Finland and the other Nordic countries. The uncertainty of the economic situation continued to be reflected as caution in the purchasing decisions of Martela's customers. In addition, operations in Finland were hampered by strikes that took place in the spring during the review period. Structural changes implemented in Finland, Sweden and Norway during the review period temporarily weakened operational efficiency. Mainly due to reasons mentioned above, our revenue decreased to EUR 20.2 million in the first quarter which was 16.0 % lower compared to the same period last year.

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.


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
Board of Directors

Ville Taipale

Further information
Ville Taipale, CEO, +358 50 557 2611
Henri Berg, CFO, +358 40 836 5464

Nasdaq OMX Helsinki
Key news media

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.


To view this piece of content from, please give your consent at the top of this page.
To view this piece of content from, please give your consent at the top of this page.

About GlobeNewswire by notified

GlobeNewswire by notified
GlobeNewswire by notified
One Liberty Plaza - 165 Broadway
NY 10006 New York

GlobeNewswire by notified is one of the world's largest newswire distribution networks, specializing in the delivery of corporate press releases financial disclosures and multimedia content to the media, investment community, individual investors and the general public.

Subscribe to releases from GlobeNewswire by notified

Subscribe to all the latest releases from GlobeNewswire by notified by registering your e-mail address below. You can unsubscribe at any time.

Latest releases from GlobeNewswire by notified

Udstedelse af RSU program18.5.2024 11:34:18 CEST | pressemeddelelse

I overensstemmelse med bemyndigelsen fra generalforsamlingen den 18. april 2024 har bestyrelsen i dag indført et incitamentsprogram for selskabets bestyrelse. Incitamentetprogrammet er designet og struktureret omkring konceptet med at fastholde medlemmer af bestyrelsen samtidig med at der skabes incitament til en positiv aktiekursudvikling og virksomhedens resultater til gavn for selskabets aktionærer. Incitamentsprogrammet inkluderer Restricted Share Units ("RSU'er"), som giver ret til at deltagerne tildeles et antal aktier svarende til antallet af optjente RSU'er mod betaling af udnyttelseskursen. Programmet er underlagt en række betingelser som deltagerne skal overholde og som betyder at selskabet maksimalt vil skulle udstede 2.025 aktier til kurs 1.056 DKK forudsat at alle betingelser overholdes samt at den enkelte vælger at udnytte sine RSUér. Den beregnede værdi af programmet til den samlede bestyrelse ved brug af Black & Scholes er opgjort til DKK 350.146. Vestingkursen er bereg

Constellation Brands Announces Updated Time of Presentation at the Bernstein 40th Annual Strategic Decisions Conference on Wednesday, May 29, 202418.5.2024 01:05:50 CEST | Press release

VICTOR, N.Y., May 17, 2024 (GLOBE NEWSWIRE) -- Constellation Brands, Inc. (NYSE: STZ), a leading beverage alcohol company, announces an updated time that Bill Newlands, President and Chief Executive Officer, and Garth Hankinson, Executive Vice President and Chief Financial Officer, will participate in a previously announced fireside chat at the Bernstein 40th Annual Strategic Decisions Conference on Wednesday, May 29, 2024 in New York, NY. The presentation is scheduled to begin at 4:30 p.m. EDT and is expected to cover the company’s strategic business initiatives, financial metrics, and operating performance, as well as outlook for the future. A live, listen-only webcast of the presentation will be available on the company’s investor relations website at under the News&Events section. When the presentation begins, financial information discussed in the presentation, and a reconciliation of reported GAAP financial measures with comparable and other non- GAAP financial mea

DBV Technologies Announces Plan to Implement ADS Ratio Change17.5.2024 22:30:00 CEST | Press release

Châtillon, France, May 17, 2024 DBV Technologies Announces Plan to Implement ADS Ratio Change DBV Technologies (Euronext: DBV – ISIN: FR0010417345 – Nasdaq Stock Market: DBVT—CUSIP: 23306J101), a clinical-stage biopharmaceutical company focused on treatment options for food allergies and other immunologic conditions with significant unmet medical need, today announced plans to change the ratio of its American Depositary Shares (“ADSs”) to its ordinary shares (the “ADS Ratio”), nominal value €0.10 (ten cents) per share, from the current ADS Ratio of one (1) ADS to one-half (1/2) of one (1) ordinary share to a new ADS Ratio of one (1) ADS to one (1) ordinary share (the “ADS Ratio Change”). The Company anticipates that the ADS Ratio Change will be effective on or about June 3rd, 2024 (the “Effective Date”). For the Company’s ADS holders, the change in the ADS Ratio will have the same effect as a one-for-two reverse ADS split and is intended to enable the Company to regain compliance with

Oculis updates share capital for its existing at-the-market offering program17.5.2024 22:30:00 CEST | Press release

ZUG, May 17, 2024 (GLOBE NEWSWIRE) -- Oculis Holding AG (Nasdaq: OCS; XICE: OCS) (“Oculis” or the “Company”), a global biopharmaceutical company, has issued registered ordinary shares of the Company, each with a nominal value of CHF 0.01, issued out of existing capital band (Kapitalband), for an aggregate of 1,000,000 ordinary shares of the Company (the "New Shares"), recorded as treasury shares. The number of registered shares issued by the Company as per its Articles of Association is 46,443,700, of which 41.7 million shares are outstanding. The New Shares were issued following the Company and Leerink Partners LLC (”Leerink Partners”) entering into a sales agreement (the "Sales Agreement") with respect to an at-the-market offering program on May 8, 2024 under which the Company may offer and sell, from time to time at its sole discretion, ordinary shares of the Company having an aggregate offering price of up to $100 million through Leerink Partners as its sales agent. The Company is

Metasphere Labs Unveils Decentralized Identity System at Consensus 2024 and Announces Carbon Aware Routing Protocol17.5.2024 22:05:00 CEST | Press release

VANCOUVER, British Columbia, May 17, 2024 (GLOBE NEWSWIRE) -- Metasphere Labs Inc. (formerly Looking Glass Labs Ltd., "Metasphere" or the "Company") (Cboe Canada: LABZ) (OTC: LABZF) (FRA: H1N) is thrilled to announce its participation in Consensus 2024 alongside Bot Ventures Inc. (“Bot Ventures”), where they will unveil an early demonstration of their innovative decentralized identity and domain name system. This platform utilizes Bitcoin blockchain technology to enhance online security and trust through decentralized digital identity solutions. Parties interested in seeing a demonstration of the prototype can book a meeting at Metasphere's private suite by contacting Natasha Ingram at New Carbon Aware Routing Protocol Initiative In addition to the demonstration, the Company is excited to announce a pioneering initiative to develop a carbon aware routing protocol for computer networks and the Internet. This protocol will enable Internet Service Providers (ISPs) a

HiddenA line styled icon from Orion Icon Library.Eye