Martela Corporation’s Interim Report 1 January – 30 September
The January–September 2021 revenue and operating result decreased compared to previous year.
July–September 2021
- Revenue was EUR 23.8 million (24.2), representing a change of -1.3 %
- Operating result was EUR 1.2. million (1.0)
- Operating profit per revenue was 5.2% (4.3%)
- The profit for the period was EUR 0.9 million (0.7 )
- Earnings per share amounted to EUR 0.19 (0.16)
January–September 2021
- Revenue was EUR 62.3 million (66.5), representing a change of -6.2%
- Comparable operating result was EUR -2.3 million (-1.8)
- Operating result was EUR -2.7 million (-1.8)
- Operating result per revenue was -4.4% (-2.7%)
- The result for the period was EUR -3.5 million (-2.7 )
- Earnings per share amounted to EUR -0.79 (-0.65)
Outlook
Outlook for 2021
The Martela Group anticipates that its revenue and operating result in 2021 will improve compared to the previous year. Due to current situation, visibility is even more challenging than normally and company is actively monitoring the situation.
Key figures, EUR million
| 2021 | 2020 | Change | 2021 | 2020 | Change | 2020 | |
| 7-9 | 7-9 | % | 1-9 | 1-9 | % | 1-12 | |
| Revenue | 23.8 | 24.2 | -1.3 % | 62.3 | 66.5 | -6.2 % | 88.4 |
| Operating result | 1.2 | 1.0 | 19.1 % | -2.7 | -1.8 | -4.0 | |
| Operating result % | 5.2 % | 4.3 % | -4.4 % | -2.7 % | -4.5 % | ||
| Result before taxes | 0.9 | 0.7 | 25.8 % | -3.5 | -2.7 | -4.8 | |
| Result for the period | 0.9 | 0.7 | 29.0 % | -3.5 | -2.7 | -4.8 | |
| Earnings/share, eur | 0.19 | 0.16 | -0.79 | -0.65 | -1.16 | ||
| Return on investment % | 20.1 | 13.9 | 44.5 % | -14.2 | -7.5 | -13.4 | |
| Return on equity % | 34.7 | 18.4 | 88.5 % | -46.7 | -24.3 | -35.7 | |
| Equity ratio % | 20.3 | 26.6 | -23.7 % | 22.7 | |||
| Gearing % | 92.1 | 29.3 | 214.6 % | 37.9 |
Ville Taipale, CEO:
“Continuing corona pandemic in the third quarter of this year and related strong remote work recommendation as well as general uncertainty in the market impacted our revenue negatively. Our revenue decreased by 1.3 % in the third quarter compared to same period last year. Revenue in the third quarter was EUR 23.8 million. January – September revenue decreased by 6.2% compared to same period last year and was EUR 62.3 million.
New orders continued to increase also in the third quarter which indicates that work communites have started to prepare for post covid era and returning to the offices. How fast demand will recover to normal level will be strongly dependent on the progress of the pandemic, restrictions related to remote working and how these will affect decisions of our customers on returning to offices.
Our operating result increased in the third quarter compared to the same period last year and was EUR 1.2 million (1.0). Improvement in operating result was driven by slightly improved sales prices as well as improvements in production. Operating result for January – September was EUR -2.7 (-1.8) million. Operating result includes onetime expenses of EUR 0.6 million, which relates to layoffs resulting from cooperation negotiations concluded earlier this year.
Recent development in decrease of restrictions related to the pandemic have positively impacted to the overall market situation. If there are no sudden changes in the development of the pandemic which would stricten the restrictions, we believe that postive trend in the market situation will continue also in the last quarter of the year. Unfotunately it is still impossible to say what kind of impacts current material supply and logistic challenges will have to fourth quarter deliveries.
We believe that working environments will permanently change in the future. The coronavirus pandemic has accelerated the process of changing the way we work. The office is just one of the many places where we work from, and for some of us 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 the overall costs. We will meet our customers needs for increased flexibility in workplace with our WaaS concept, which we have piloted and actively developed further during the last winter. Interest towards our concept has been encouraging and we expect it to have a positive impact on our business.”
Market situation
The coronavirus pandemic has had a negative impact on the whole market environment of Martela, both in Scandinavia and in other countries. This has impacted especially the commercial sector. The negative impact has been slightly smaller on the public sector. At the moment it is challenging to say what the midterm impacts to general market conditions.
BRIEFING
A briefing will not be held, but additional information can be asked by telephone from Ville Taipale and Kalle Lehtonen on Friday 5th of November 2021 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 2611
Kalle Lehtonen, CFO, tel. 8
Distribution
Nasdaq OMX Helsinki
Key news media
Our strategic direction is defined by our mission “Better working” and our vision “People-centric workplaces”. Martela supplies user-centric workplaces where the users and their wellbeing are what matter most. We focus on the Nordic countries because, based on our common open work culture and needs, the Nordic countries are leaders in hybrid workplaces.
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