Martela Corporation’s Half Year Report 1 January – 30 June

Helsinki, FINLAND

The January–June 2023 revenue and operating result decreased compared to previous year.

April–June 2023                 

  • Revenue was EUR 19.4 million (27.3), representing a change of -28.9%
  • Operating result was EUR -2.9 million (0.1)
  • Operating profit per revenue was -15.2% (0.3%)
  • The result for the period was EUR -3.0 million (-0.3)
  • Earnings per share amounted to EUR -0.65 (-0.06)

January–June 2023            

  • Revenue was EUR 43.5 million (54.3), representing a change of -19.9%
  • Operating result was EUR -4.8 million (0.2)
  • Operating profit per revenue was -10.9% (0.3%)
  • The result for the period was EUR -5.2 million (-0.3)
  • Earnings per share amounted to EUR -1.13 (-0.07)


Outlook for 2023

Martela anticipates its Revenue to decrease slightly compared to previous year and operating result to be negative.

Key figures, EUR million

Operating result-2.90.1 -4.80.2 2.5
Operating result %-15.2%0.3% -10.9%0.3% 2.3%
Result before taxes-3.0-0.2 -5.1-0.3 1.3
Result for the period-3.0-0.3 -5.2-0.3 2.6
Earnings/share, EUR-0.65-0.06 -1.13-0.07 0.57
Return on investment %-43.12.1 -33.82.3 9.1
Return on equity %-119.8-9.5 -52.3-5.5 20.8
Equity ratio %   16.621.2-21.5%24.7
Gearing %   179.684.0113.8%58.6

Ville Taipale, CEO:
“The high inflation and increased interest rates that started last year impacted negatively also in the second quarter this year. Impact from this was significant in Martela’s operating envirmonment. Our revenue decreased to EUR 19.4 million in the second quarter which was 28.9 % lower compared to the same period last year. Our Revenue January-June was EUR 43.5 million.
New orders in the second quarter decreased in all other market areas except in “Others” compared to the same period last year.
Our operating result decreased in the second quarter compared to the same period last year and was EUR -2.9 million. Operating result was negatively impacted mainly by decrease in revenue. Operating result January-June was EUR -4.8 million.
Second quarter of this year was challenging due to uncertainty in the operating environment. We have reacted to this challenging situation by announcig an invitation to co-operating negotiations. It is unclear how long this uncertainty in the market will continue and we need to be able to adjust our operating expenses to the current circumstances.
The way of work and working environments will be in constant change. The coronavirus pandemic has accelerated the process of changing the way we work. The office is just one of many places where we work, and for some 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 overall costs. We will meet our customers’ needs for increased flexibility in workplace with our Workplace as a Service concept, which we have piloted and actively further developed during last winter. Interest towards our concept has been encouraging and we expect it to have a positive impact on our business.” 

Market situation

The war in Ukraine has brought uncertainty to the market and caused radical price increases in raw materials as well as restricted supply of materials. In addition, rapid increase in inflation and interest rates has also negatively impacted the market. It is too early to say which impacts these will have on the overall market in the mid-term.


A briefing will not be held, but additional information can be asked by telephone from CEO Ville Taipale on Friday August 11, 2023 from 12 a.m. to 2 p.m. EET.

Martela Corporation
Board of Directors

Ville Taipale

Further information
Ville Taipale, CEO, +358 50 557 2611

Nasdaq OMX Helsinki
Key news media

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.



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