Martela Oyj

Regulatory Filings • Jan 3, 2025

Disclosure 453662

Martela Oyj - Inside information

Martela plans to streamline its operations

Martela Corporation, inside information, 3.1.2025, at 10:25

The continued challenging market situation in recent years has affected Martela's operating environment, weakening the volumes and profitability of Martela's business. The economic recovery that has begun will have a positive impact on the situation in the sector, but the strength of the recovery still includes uncertainties in the main market areas.

For the above reasons, Martela plans to streamline and reorganize its operations in order to mitigate the adverse effects of the market situation, to adjust its cost structure to the prevailing conditions and to bring flexibility in the face of demand uncertainties.

According to a preliminary estimate, the planned measures may lead to a permanent reduction of approximately 20 positions. The planned actions concern Martela Group's personnel in Finland, Sweden and Norway. In addition, temporary lay-off procedures are planned to be used to achieve the necessary temporary flexibilities. Martela negotiates the changes in close interaction with personnel and personnel representatives. The negotiation processes and their timing vary from country to country.

The planned personnel savings and other cost-saving measures are estimated to result in annual cost savings of approximately EUR 1.5-2.0 million.

"Martela's profit development has not been satisfactory, and the market situation in the industry has been challenging. As a result, the adjustment measures now planned are necessary to ensure our competitiveness and reduce our cost structure. The economic recovery that has already begun remains subject to uncertainties," says CEO Ville Taipale.

Martela Group employs approximately 360 people in Finland, Sweden, Norway and Poland.

Martela Oyj

Ville Taipale

CEO

Further information:

CEO, Ville Taipale, tel. +358 50 557 2611

VP, People and Sustainability, Suvi-Maarit Kario, tel. +358 40 356 4618

CFO, Henri Berg, tel. +358 40 836 5464

Distribution:

NASDAQ Helsinki

Main news media

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.