The January–September 2019 revenue improved slightly and operating operating result decreased compared to previous year. Operating result decreased due to the tight competition which has led to decreased sales margins and due to non-recurring items caused by savings actions.
- Revenue was EUR 25.9 million (24.4), representing a change of 6.1 %
- Comparable operating result was EUR 1.5 million (0.0)
- Operating result according to IFRS was EUR 1.0 million (0.0)
- Operating profit per revenue was 4.0 % (-0.1 %)
- The result for the period improved and was EUR 0.9 million (-0.1)
- Earnings per share amounted to EUR 0.22 (-0.03)
- Revenue was EUR 76.3 million (75.3), representing a change of 1.4 %
- Comparable operating result was EUR -2.1 million (-1.9)
- Operating result according to IFRS was EUR -2.6 million (-1.9)
- Operating profit per revenue was -3.4 % (-2.5 %)
- The result for the period declined and was EUR -3.0 million (-2.3)
- Earnings per share amounted to EUR -0.73 (-0.55)
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.
Key figures, EUR million
|Revenue||25,9||24,4||6,1 %||76,3||75,3||1,4 %||103,1|
|Operating result||1,0||0,0|| ||-2,6||-1,9|| ||-2,1|
|Operating result %||4,0 %||-0,1 %|| ||-3,4 %||-2,5 %|| ||-2,0 %|
|Result before taxes||0,9||-0,1|| ||-3,1||-2,3|| ||-2,5|
|Result for the period||0,9||-0,1|| ||-3,0||-2,3|| ||-2,4|
| || || || || || || || |
|Earnings/share,eur||0,22||-0,03|| ||-0,73||-0,55|| ||-0,57|
| || || || || || || || |
|Return on investment %||13,7||-1,1|| ||-11,2||-7,2|| ||-4,9|
|Return on equity %||21,6||-2,5|| ||-23,5||-14,7|| ||-11,4|
|Equity ratio %|| || || ||30,3||41,7||-27,4 %||39,2|
|Gearing %|| || || ||54,6||20,5||166,7 %||0,7|
Matti Rantaniemi, CEO:
“Our revenue increased in the third quarter by 6.1% compared to same time in previous year. Due to this revenue for January–September 2019 was EUR 76.3 million representing a increase of 1.4% compared to same time in previous year. It was also positive that our revenue in the third quarter grew also in Finland when compared to same time in previous year.
New orders continued to grow in the third quarter 2019 compared to same time previous year. New orders grew in all other segments than public sector. I am especially pleased about the growth in Norway and Sweden.
Operating result improved in the third quarter when comparing to same time previous year. Comparable operating result was EUR 1.5 million (0.0). This was a result of increased revenue and slightly improved sales margin. Operating result according to IFRS includes EUR 0.5 million of non-recurring expenses arising from co-operation negotiations earlier this year. Result for the period was EUR -2.6 (-1.9) million. Increased operating result in the third quarter 2019 shows that our actions for improving the result are starting to materialize. I believe that changes in the market conditions are for the longterm and therefore we will continue executing the EUR 4 million savings program as planned and improving our productivity.
Market conditions will continue to be challenging in the near future, but we strongly belive that the basis for our strategy remains. Transformation in working and learning environments will continue, get stronger and expand. Working and learning environments will have to be sustainable and to be able to adapt faster as needs and circumstances constantly keep changing. This will require capabilites to follow and understand the use of space and needs of the users, and to be able to renew and optimize the space according to those needs. Martela has expanded the strategically important Pod family by introducing several new products into it. These are specifically planned to meet the requirements of constantly growing need of flexible spaces.”
There has not been any major changes in the private sector market conditions. However market conditions in the finnish public sector has been toughened and prices have decreased. The demand for Martela’s products and services is fundamentally affected also by the general economic situation and by the extent to which companies and the public sector need to stregthen the utilisation of their spaces and make their workplaces more effective as management tools.
A briefing for analysts, portfolio managers and the media will take place on Wednesday 6th of November, 2019 from 11.30 a.m. to 12.30 p.m. EET at Martela House at Takkatie 1, Helsinki. The results will be presented by Matti Rantaniemi, CEO.
Board of Directors
Matti Rantaniemi, CEO, tel. +358 50 465 8194
Kalle Lehtonen, CFO, tel. +358 400 539 968
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.