STOCK EXCHANGE RELEASE 15.1.2020 AT 9:00 AM

Based on unaudited preliminary financial statements for 2019 Martela’s operating result did not reach the level published in the outlook for 2019 on February 5, 2019.

Based on unaudited preliminary financial statements 2019 the revenue improved slightly and operating result stayed on the same level as in 2018. Revenue was approximately EUR 106 million (103.1) and operating result was approximately EUR -2 million (-2.1).

Fourth quarter 2019 revenue and operating result improved clearly when compared to same period last year. Fourth quarter revenue was approximately EUR 30 million (27.8) and operating result approximately EUR 0.6 million (-0.2).  

In the fourth quarter, the revenue in Finland did not reach the forecasted level especially in the Finnish public sector. Lower than forecasted sales and decrease in sales margin impacted negatively the fourth quarter operating result. In addition to these, company had to write-off approximately EUR 0.4 million of receivables due to bankruptcy of one of company’s resellers.

Previous outlook for 2019: The Martela Group anticipates that its revenue and operating result in 2019 will improve slightly compared to the previous year. Traditionally Group’s operating result accumulates during the second half of the year.

Revenue for January-December 2018 was EUR 103.1 million and operating result EUR -2.1 million.

Martela will publish its January-December 2019 financial statements on February 7, 2020.

Martela Oyj

Matti Rantaniemi
CEO

Further information

Matti Rantaniemi, CEO, +358 50 465 8194
Kalle Lehtonen, CFO, +358 400 539 968

Distribution

Nasdaq OMX Helsinki

Key news media

www.martela.com

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.