Martela Corporation

Martela Corporation's Half Year Report 1 January - 30 June 2026

Martela Corporation, Half year report, 12.8.2026, at 08:00 a.m.

The revenue and operating result for January-June 2026 weakened compared to the same period of the previous year.

April–June 2026        

• Revenue was EUR 14.5 million (24.6), representing a change of -41.0%
• Comparable operating result EUR -1.6 million
• Operating result was EUR -0.5 million (0.1)
• Operating profit per revenue was -3.3% (0.5%)
• The result for the period was EUR -1.0 million (-0.4)
• Earnings per share amounted to EUR -0.26 (-0.09)

January–June 2026        

• Revenue was EUR 32.0 million (50.2), representing a change of -36.4%
• Comparable operating result EUR -3.5 million
• Operating result was EUR -2.4 million (-1.4)
• Operating profit per revenue was -7.5% (-2.9%)
• The result for the period was EUR -3.5 million (-2.5)
• Earnings per share amounted to EUR -0.75 (-0.54)

Outlook

Outlook for 2026

Martela Group’s full-year revenue for 2026 is estimated to amount to approximately EUR 66–73 million.
The comparable operating result is estimated to be negative by EUR 1–3 million.

Key figures, EUR million

*) Return on equity has not been informed for the review period, because the average equity of the year has been negative.
**) Gearing was negative because equity was negative.

Panu Ala-Nikkola, CEO:

“Martela has a tremendous amount of expertise, a strong market position and a significant customer base. This is a business that is familiar to me from previous years. I have now seen up close how strong this foundation is. The need for work environments and learning environments has not disappeared; rather, customer needs are continuously evolving and will continue to create demand in the future. We must be able to respond to this.

Demand in the first part of the year has been significantly weaker than expected, particularly in the Nordic countries. Customer uncertainty, project postponements and a smaller average project size have been reflected in both order intake and revenue. Especially the market for large office projects was clearly below the level of the comparison period.

New orders in the first half of the year declined by approximately 28 percent from the comparison period, and revenue amounted to EUR 32.0 (50.2) million, which was approximately 36 percent lower than in the corresponding period of the previous year. Second-quarter revenue decreased to EUR 14.5 (24.6) million, which was 41 percent lower than in the corresponding period of the previous year. The order stock at the end of the reporting period was approximately 24 percent lower than at the comparison period 2025.

The operating result for the review period was mainly weakened by the sharp decline in revenue compared with the corresponding period of the previous year. Our comparable operating result weakened clearly in the first half of the year compared with the corresponding period last year and was loss-making at EUR -3.5 (-1.4) million. Our comparable operating result for the second quarter weakened compared with the corresponding period last year and was loss-making at EUR -1.6 (+0.1) million. Reported operating result for the second quarter was loss-making at EUR -0.5 (+0.1) million.

We see significant opportunities to improve our profitability with a more focused offering and hungry sales efforts. We are focusing our resources more effectively on the areas where we can create the most value for customers and turn the course of the business. Although profitability in the first part of the year fell clearly short of our targets, the actions already implemented and initiated, for example in our school offering and seating products, strengthen our competitiveness and create a foundation for the next development steps. Measures to strengthen working capital are at the core of what we do.

Towards the end of the year, we expect delivery volumes to improve gradually compared with the first part of the year. We believe that Martela has all the prerequisites to success and to take advantage of the market: skilled and focused personnel, a competitive and smart offering, strong customer relationships and long-standing experience in the industry. We will build the company’s next phase on these strengths.”

Market situation

The general office market situation continued to be more challenging than anticipated in the Nordic countries during the first half of 2026. Vacancy rates in office properties were on average at a higher level in the first half of 2026 than in the previous year. The general economic situation and customers’ demand for office-related investments continue to involve significant uncertainties going forward as well. The geopolitical and trade policy situation is adding to uncertainty, which also affects the outlook for interest rates and inflation. For 2026, we therefore do not expect demand in our main markets to strengthen before the end of the year. The persistently intense competitive environment continues to put pressure on margin development as well.

The need for changes to premises continues to arise as ways of working evolve. As these needs materialize, they will, over the long term, increase demand for Martela’s services and furniture as well.

BRIEFING

A briefing will not be held, but additional information can be asked by telephone from CEO Panu Ala-Nikkola and CFO Henri Berg on Wednesday August 12, 2026 from 12 p.m. to 2 p.m. EET.

Martela Corporation
Board of Directors

Panu Ala-Nikkola
CEO

Further information
Panu Ala-Nikkola, CEO, +358 50 502 4728
Henri Berg, CFO, +358 40 836 5464

Distribution
Nasdaq OMX Helsinki
Key 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.

Attachment

• 2026_0812 Half Year Report