Martela Oyj

Earnings Release • Sep 27, 2024

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Martela Oyj - Inside information

Martela weakens its guidance for revenue and profit for 2024

Martela Corporation, inside information, 27.9.2024, at 11:00

The growth in order intake that started towards the end of the second quarter has continued. Martela's key market areas see positive signals and stronger demand. However, the realization of the market recovery will take place slightly slower than previously anticipated, and some customer projects will be postponed until the beginning of next year. As a result, Martela lowers its full-year revenue and profit forecast. Traditionally, due to normal seasonal variation, the Group's net sales and operating result are better in the second half of the year compared to the first half of the year.

New guidance for 2024:

Martela Group's full-year 2024 revenue are anticipated to be approximately at the previous year's level and to reach EUR 91-97 million in 2024 (EUR 94.4 million in 2023). The operating result is estimated to be slightly negative, and the operating loss is estimated to be at the level of EUR 0.0-1.8 million (operating loss in 2023 was EUR 2.4 million).

Previous guidance for 2024:

Martela anticipates its revenue to increase in full-year 2024 compared to previous year and operating result to be positive.

Martela Oyj

Ville Taipale

CEO

Further information:

Ville Taipale, CEO Tel. +358 50 557 2611

Henri Berg, CFO Tel. +358 40 836 5464

Distribution

NASDAQ Helsinki

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www.martela.com

Martela is a Nordic leader specialising in user-centric working and learning environments. We create the best places to work and offer our customers the Martela Lifecycle solutions which combine furniture and related services into a seamless whole.