Martela weakens its guidance for revenue and profit for 2024

Martela Corporation, inside information, 11.12.2024, at 10:45

Order intake has continued to grow strongly during the current quarter. Martela's key market areas continue to see positive signals and stronger demand. However, the realisation of the increase in order intake into revenue increase shall take place later than previously expected, and a significant part of the deliveries planned for the rest of the year will be postponed until the beginning of next year. In addition, the fourth-quarter result will be weaken down especially by deliveries of few projects and product families with low margins. For the above reasons, Martela lowers its full-year revenue and profit forecast. The outlook for the early part of 2025 is more positive than in the corresponding period this year.

New guidance for 2024:

Martela Group's full-year 2024 revenue and operating result are expected to decrease from the previous year's level. Revenue are estimated to reach EUR 85-89 million in 2024 (EUR 94.4 million in 2023). The operating result is estimated to be negative and the operating loss is estimated to be at the level of EUR 3.8-6.1 million (operating loss in 2023 was EUR 2.4 million).

Previous guidance for 2024:

Martela Group's full-year 2024 revenue are anticipated to be approximately at the previous year's level and to reach EUR 91-97 million in 2024 (EUR 94.4 million in 2023). The operating result is estimated to be slightly negative, and the operating loss is estimated to be at the level of EUR 0.0-1.8 million (operating loss in 2023 was EUR 2.4 million).

Martela Oyj

Ville Taipale
CEO

Further information:

Ville Taipale, CEO Tel. +358 50 557 2611
Henri Berg, CFO Tel. +358 40 836 5464

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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.