MARTELA CORPORATION’S INTERIM REPORT 1 JANUARY – 31 MARCH
The January–March 2022 revenue increased and operating result improved compared to previous year.
January–March 2022
- Revenue was EUR 27.0 million (19.9), representing a change of 35.9%
- Comparable operating result was EUR 0.1 million (-1.4)
- Operating result was EUR 0.1 million (-2.0)
- Operating profit per revenue was 0.4 % (-10.1%)
- The result for the period was EUR 0.0 million (-2.3 )
- Earnings per share amounted to EUR -0.01 (-0.56)
Outlook
Outlook for 2022
Martela anticipates its Revenue to grow over 10 % compared to previous year and operating result to be positive.
Key figures, EUR million
| 2022 | 2021 | Change | 2021 | |
| 1-3 | 1-3 | % | 1-12 | |
| Revenue | 27.0 | 19.9 | 35.9% | 91.9 |
| Operating result | 0.1 | -2.0 | -1.3 | |
| Operating result % | 0.4 % | -10.1 % | -1.4 % | |
| Result before taxes | -0.1 | -2.4 | -2.3 | |
| Result for the period | 0.0 | -2.3 | -2.4 | |
| Earnings/share, euro | -0.01 | -0.56 | -0.53 | |
| Return on investment % | 2.5 | -30.9 | -4.7 | |
| Return on equity % | -0.4 | -22.2 | -21.3 | |
| Equity ratio % | 23.6 | 21.8 | 8.3 % | 22.2 |
| Gearing % | 67.8 | 54.2 | 25.1 % | 74.8 |
Ville Taipale, CEO:
“First quarter this year was defined by corona pandemic and war in Ukraine which caused general uncertainty in the market. Despite of these we were able to increase our revenue by 35.9 % in the first quarter compared to same period last year. Revenue in the first quarter was EUR 27.0 million.
New orders continued to increase especially in Commercial sector and in all market areas.
Our operating result improved significantly in the first quarter compared to the same period last year and was EUR 0.1 million. Operating result was naturally positively impacted by increased revenue, but especially recent actions that has been done in terms of improvements in the cost structure as well as determined work to manage material price increases and maintaining sales prices.
I am extremely pleased that our hard work in improving our cost structure, offering and in way of working has started to result in our performance. This work will in the future further improve our position as a leading sustainable workplace specialist. This has been achieved beacause of our commited and professional employees and demonstrates what can be achieved with seamless co-operation.
War in Ukraine and uncertainty caused by it has negatively impacted the overall market situation as well as raw material prices and supply. It is difficult at this point to evaluate what impacts this will have in the mid-term to development of our revenue and result performance.
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
Gradual removal of restrictions caused by corona pandemic has impacted positively to Martela’s market environment. Simultaneously war in Ukraine has brought uncertainty to the market and caused radical price increases in the raw materilas as well as restricted the supply of materials. It is too early to say what impacts thiese will have in the mid-term to overall market situation.
BRIEFING
A briefing will not be held, but additional information can be asked by telephone from CEO Ville Taipale on Friday 6th of May 2022 from 11 a.m. to 1 p.m. EET
Martela Corporation
Board of Directors
Ville Taipale
CEO
Further information
Ville Taipale, CEO, +358 50 557 2611
Kalle Lehtonen, CFO, tel. +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.
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