Correction: Preliminary information on Martela's 2024 revenue and operating result

Martela Corporation, inside information, 17.1.2025 at 22:30

Martela will revise its stock exchange release published on 17.1.2025 at 17:40 regarding the company's comparative figures from 2023. The original release stated the sentence: "Revenue for January-December 2024 was EUR 94.4 million and operating result EUR -2.4 million”. The year was mistakenly stated as 2024 instead the correct comparative year 2023. The corrected sentence is "Revenue for January-December 2023 was EUR 94.4 million and operating result EUR -2.4 million”. The corrected release is as follows:

Preliminary information on Martela's 2024 revenue and operating result

Martela Corporation, inside information, 17.1.2025, at 17:40

Based on unaudited preliminary financial statements for 2024 Martela’s operating result did not reach the level released in the guidance for 2024 on December 11, 2024.

Based on unaudited preliminary financial statements 2024 the revenue and operating result decreased compares to previous year. Revenue was approximately EUR 87 million (94.4) and operating loss was EUR 6.3-6.7 million (-2.4).

Fourth quarter 2024 revenue and operating result decreased compared to same period last year. Fourth quarter revenue was approximately EUR 25 million (26.4) and operating loss was EUR 1.6-2.0 million (operating profit 1.5). 

In the fourth quarter of 2024, the Group's revenue and especially operating profit was weaker than expected. The tight competition in the markets weighed down the margins both in Finland and in the other market areas. The outlook for the early part of the 2025 is more positive than for the corresponding period in 2024. Martela has started planning measures to improve operational efficiency as announced on 3.1.2025.

Previous 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)

Revenue for January-December 2023 was EUR 94.4 million and operating result EUR -2.4 million.

Martela will publish its January-December 2024 financial statements on February 12, 2025.

Martela Oyj

Ville Taipale

CEO

Further information:

CEO, Ville Taipale, tel. +358 50 557 2611

CFO, Henri Berg, 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.