Martela Corporation’s Financial Statements 1 January – 31 December
The January–December 2019 revenue improved slightly compared to previous year and operating result remained unchanged.
October–December 2019Revenue was EUR 29.9 million (27.8), representing a change of 7.3 %The result for the period was EUR 0.6 million (-0.2)Operating profit per revenue was 1.9 % (-0.8 %)The result for the period improved and was EUR 0.5 million (-0.1)Earnings per share amounted to EUR 0.11 (-0.02)
January–December 2019Revenue was EUR 106.2 million (103.1), representing a change of 3.0 %Comparable operating result was EUR -1.6 million (-2.1)Operating result according to IFRS was EUR -2.0 million (-2.1)Operating profit per revenue was -1.9 % (-2.0 %)The result for the period was EUR -2.5 million (-2.4)Earnings per share amounted to EUR -0.61 (-0.57)
OutlookOutlook for 2020The Martela Group anticipates that its revenue and operating result in 2020 will improve slightly compared to the previous year. Traditionally Group’s operating result accumulates during the second half of the year.Key figures, EUR millionMatti Rantaniemi, CEO:
“Our revenue increased by 7.3 % in the last quarter compared to same period last year. This raised the total revenue for January–December to EUR 106.2 million increasing it with 3.0 % compared to the same period last year. I am pleased with the development of the sales in Norway (49.5 %) and Sweden (51.4 %). Even if revenue in the Finnish public sector decreased, we managed to grow in all other customer segments in Finland.
New orders decreased slightly in the last quarter. The decrease was strongest in the public sector in Finland.Market situationThere has not been any major changes in the market conditions of the private sector. However market conditions in the Finnish public sector have 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.
Revenue and operating resultRevenue and result for October–December 2019Revenue for October–December was EUR 29.9 million (27.8) and increased by 7.3 % from the previous year. Compared to the previous year, revenue increased in Norway by 178.3 %, in Sweden by 135.9 % and in Other countries by 56.4 %. Revenue declined by 10.5 % in Finland.The Group’s operating result in October-December was EUR 0.6 million (-0.2).The October–December result before taxes was EUR 0.4 million (-0.2) and net result EUR 0.5 million (-0.1).Revenue and result for January–December 2019Revenue for January–December was EUR 106.2 million (103.1) and increased by 3.0 % from previous year. Compared to previous year, revenue increased in Sweden by 51.4 % and Norway by 49.5 %. In Finland revenue declined by 3.5 % and in Other countries by 0.8 %.The Group’s comparable operating result in January-December was EUR -1.6 million (-2.1) and operating result according to IFRS was EUR -2.0 million (-2.1). The operating result was affeced by non-recurring costs of EUR 0.4 million caused by personnel related savings actions.The January–December comparable result before taxes was EUR -2.3 million (-2.5) and net result EUR -2.1 million (-2.4). The January–December result before taxes according to IFRS was EUR -2.7 million (-2.5) and net result EUR -2.5 million (-2.4).
EVENTS AFTER THE END OF THE FINANCIAL YEARMartela Group lowered its revenue and operating result guidance for 2019 with the stock exchange release on the 15th of January 2020.No other significant events requiring reporting have taken place since the January–December period, and operations have continued according to plan.
SHORT-TERM RISKSThe principal risk regarding profit performance relates to the general economic uncertainty and the consequent effects on the overall demand in Martela’s operating environment. Due to the project-based nature of the sector, forecasting short-term development is challenging.
PROPOSAL OF THE BOARD OF DIRECTORS FOR DISTRIBUTION OF PROFITThe Board of Directors will propose to the AGM that no dividend will be distributed for 2019. The Board of Directors will assess the possibility to propose dividend payment to an extraordinary general meeting later this year.
ANNUAL GENERAL MEETINGMartela Corporation’s AGM will be held on 12 March 2020 at 3 p.m. in Martela House, Helsinki. The notice of the Annual General Meeting will be published in a separate release on 7 February 2020.
BRIEFINGA briefing for analysts, portfolio managers and the media will take place on Friday 7th of February, 2020 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.
The Annual Report for 2019 will be published on Martela’s website during week 10/2020.
Martela Corporation
Board of DirectorsMatti Rantaniemi
CEOFurther information
Matti Rantaniemi, CEO, tel. +358 50 465 8194
Kalle Lehtonen, CFO, tel. +358 400 539 968Distribution
Nasdaq OMX Helsinki
Key news mediaOur 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.Attachment2020_0207 Financial statements
