Martela Oyj

Management Reports • Feb 17, 2025

Disclosure 455005

Martela Oyj - Inside information

Martela's plans to streamline its operations are proceeding

Martela Corporation, inside information, 17.2.2025, at 10:30

Martela announced on January 3, 2025, that it will begin plans to enhance and reorganize its operations to mitigate the adverse effects caused by the market situation and to adjust its cost structure to align with prevailing conditions.

Plans related to administration in connection with streamlining, reorganizing and reducing fixed costs are close to be completed. In administration the planned personnel savings and other cost-saving measures are expected to lead to approximately EUR 1.6-1.8 million cost savings in 2025. The planned measures will result in a permanent reduction of around 15 administrative positions. These reductions are taking place in Finland, in Sweden, and in Norway. Additionally, particularly in Finland, immediate temporary layoff procedures have been launched to achieve necessary short-term flexibility. Martela has been in close negotiations regarding the changes with its staff and employee representatives.

Company continues the planning of the efficiency enhancement matters under its production and removal services, which are expected to be completed preliminarily by end of April 2025.

In addition to cost savings, the company enhances the optimization of working capital.

"Martela's financial performance has not been satisfactory, and the market situation in the industry has been very challenging in recent years. Therefore, the planned adjustment measures are necessary to ensure our competitiveness and reduce our cost structure. The ongoing economic recovery still includes uncertainties," states 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.