In This Article:
Martela Corporation, Interim report, 14.5.2024, at 08:00 a.m.
The January–March 2024 revenue and operating result decreased compared to corresponding period in the previous year.
January–March 2024
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Revenue was EUR 20.2 million (24.1), representing a change of -16.0%
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Operating result was EUR -2.2 million (-1.8)
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Operating profit per revenue was -11.0% (-7.5%)
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The result for the period was EUR -2.7 million (-2.2)
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Earnings per share amounted to EUR -0.60 (-0.49)
Outlook
Outlook for 2024
Martela anticipates its revenue to increase in full-year 2024 compared to previous year and operating result to be positive.
Key figures, EUR million
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| 2024 | 2023 | Change | 2023 |
|
| 1-3 | 1-3 | % | 1-12 |
| Revenue | 20.2 | 24.1 | -16.0 % | 94.4 |
| Operating result | -2.2 | -1.8 | 22.7 % | -2.4 |
| Operating result % | -11.0 % | -7.5 % |
| -2.5 % |
| Result before taxes | -2.5 | -2.1 |
| -3.3 |
| Result for the period | -2.7 | -2.2 | 23.4 % | -3.5 |
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|
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| Earnings/share, EUR | -0.60 | -0.49 | 21.9 % | -0.77 |
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| Return on investment % | -31.9 | -24.1 |
| -7.5 |
| Return on equity % | -32.8 | -17.3 |
| -31.3 |
| Equity ratio % | 17.0 | 24.9 | -31.7 % | 20.0 |
| Gearing % | 203.4 | 82.1 | 147.7 % | 137.2 |
Ville Taipale, CEO:
“As in the previous year, market uncertainty and weak economic development continued in the first quarter of this year, especially in Finland and the other Nordic countries. The uncertainty of the economic situation continued to be reflected as caution in the purchasing decisions of Martela's customers. In addition, operations in Finland were hampered by strikes that took place in the spring during the review period. Structural changes implemented in Finland, Sweden and Norway during the review period temporarily weakened operational efficiency. Mainly due to reasons mentioned above, our revenue decreased to EUR 20.2 million in the first quarter which was 16.0 % lower compared to the same period last year.
The Group's new orders decreased some 8 % in the first quarter compared to the corresponding period in the previous year. In the first quarter, orders increased in Finland and decreased in Sweden, in Norway and in the group “Others”.
Our operating result decreased in the first quarter compared to the same period last year and was EUR -2.2 (-1.8) million. Despite the strikes, productivity and operational efficiency improved compared to the comparison period, but their impact could not fully compensate for the significant decrease in revenue. The measures announced during the review period concerning streamlining and reorganisation of operations have been completed, but their efficiency improvement effects will mainly only materialise from the second quarter onwards. The implementation of the reorganisation resulted in additional costs during the review period. Naturally the reorganisation also aims to improve the service experience of Martela's customers.