Due to the expected negative impact of Corona pandemic to the revenue and operating results Martela estimates its revenue to decrease clearly and operating result to decrease in 2020. Visibility to the second half of the year is even lower than normally and we monitor the situation carefully and update our outlook if current situation changes.
Martela withdraw its previous outlook in a stock exchange announcement on March 27, 2020. At that stage impacts of the Corona pandemic were still impossible to estimate and therefore company was unable to give any kind of outlook statement.
Even though it is still impossible to estimate all the impacts that this pandemic will cause, it is already clear that this will have significant impact to company’s revenue. Company has actively decreased its expenses to meet the impact of decreasing revenue. Cost reductions have been done both in operating expenses as well as in personnel costs. These actions however will not fully cover the loss from decreased revenue and its impact to sales margin and to operating result.
Despite the difficult situation we still strongly believe that our strategy on changes in working and learning environments will continue, get stronger and will expand in the Scandinavia. Working and learning environments has to capable to adapt responsibly and with faster cycle when needs and circumstance changes. This will require capability to measure and understand the use of the spaces and users’ needs and renew and optimize spaces according to these needs.
Martela Corporation
Matti Rantaniemi
CEO
Further information
Matti Rantaniemi, CEO, tel. +358 50 465 8194
Kalle Lehtonen, CFO, tel. +358 400 539 968
Distribution
NASDAQ Helsinki
Main news media
www.martela.com
Our strategic direction is defined by our mission “Better working” and our vision “People-centric workplaces”. Martela provides people centric workplaces where the users and their wellbeing are in the core. We focus on the Nordic countries, as the Nordic countries are forerunner in hybrid working environments with common open work culture background and needs.